Transamerica Broadens Suite of Retirement Income Solutions with Retirement Income MaxSM

Transamerica’s Retirement Income Maxrider, available with a variable annuity, aims to help people get the most from their retirement

DENVER--(BUSINESS WIRE)-- Today Transamerica introduces its newest optional living benefit rider, Retirement Income Max^SM, available now with Transamerica’s suite of variable annuities. This rider, available for an additional fee, is specifically designed to help meet the needs of those who are looking to maximize their retirement income.

“We pay very close attention to the kinds of solutions financial professionals are seeking to effectively plan for their clients’ retirement,” says Dave Paulsen, Chief Sales Officer of Transamerica Capital, Inc. “With the Retirement Income Max^SM rider and a Transamerica variable annuity, we believe we have helped to address the client’s most common and pressing desires – to have a reliable lifetime income stream that is protected from market downturns, and to also have the ability to maximize this income.”

The Retirement Income Max^SM rider provides withdrawal percentages of 6.5%, 5.5%, and 4.5% annually for the single life option, based on the client’s age when they start taking withdrawals. Additionally, Retirement Income Max^SM offers growth on growth potential with Transamerica’s notable Monthiversary^SM and 5% growth rate features. In up markets, it locks in the highest Monthiversary^SM value and automatically steps up the withdrawal base (the value used to calculate the rider withdrawal amount) to this new value. In down markets, it provides 5% annual compounding growth to the withdrawal base for up to 10 years, in rider years a withdrawal is not taken. If the withdrawal base was stepped up in the previous year, the 5% growth will be based on that amount, thereby providing the growth on growth potential. The initial Retirement Income Max^SM rider fee is 1.00%. This is an annual percentage of the withdrawal base.

Financial professionals interested in learning more about how Transamerica’s Retirement Income Max^SM rider can help their clients achieve their retirement income objectives should contact the sales desk at 800-851-7555.

In years a withdrawal in excess of the rider withdrawal amount is taken, the Monthiversary^SM component of the automatic step-up feature will not apply. An excess withdrawal will cause the withdrawal base, and thus rider withdrawal amount, to decrease. If an excess withdrawal causes the withdrawal base to fall to zero, the annuity policy and rider will terminate.

You must allocate 100% of the policy value into one or more of the designated investment options. The investment options are subject to market fluctuation, investment risk, and possible loss of principal.

The 5% growth rate applies only to the Withdrawal Base; it does not apply to policy value, optional death benefits, or other optional benefits.

Variable annuities are long-term tax deferred vehicles designed for retirement purposes. They offer three main benefits: tax-deferred treatment of earnings, guaranteed death benefit options, and guaranteed lifetime payout options.

Variable annuities are subject to investment risk, including possible loss of principal. Due to fluctuating market conditions, at the time of surrender, the annuity value may be more or less than the total of all premium payments.

Transamerica variable annuities’ range of fees and charges include 0.60%-1.90% M&E&A, 0%-9% surrender charges, $30-$35 annual fee, and investment options management fees. A fund facilitation fee of up to 0.30% annually may apply for certain investment options.

Before investing, consider a variable annuity’s investment objectives, risks, charges, and expenses. Call 1-800-525-6205 for a contract and fund prospectus containing this and other information. Please read it carefully.

All contract and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the claims-paying ability of the issuing insurance company.

Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply.

Variable annuities issued by Transamerica Life Insurance Company in Cedar Rapids, Iowa and Transamerica Financial Life Insurance Company in Harrison, New York (Transamerica). Annuities are underwritten and distributed by Transamerica Capital, Inc.Transamerica Financial Life Insurance Company is licensed in New York.

All policies, riders, and forms may vary by state, and may not be available in all states. RGMB 41 0111, RGMB 41 0111 (IS) (FL), RGMB 41 0111 (IJ) (FL), other versions also available, RGMB 41 0111 (IS) (NY), RGMB 41 0111 (IJ) (NY), RGMB 41 0111 (IS)(OR), RGMB 41 0111(IJ)(OR)

Annuities may lose value and are not insured by the FDIC or any federal government agency. They are not a deposit of or guaranteed by any bank, bank affiliate, or credit union.

Transamerica Capital Inc.Ann Hynek, 720-482-1501
[email protected]

Source: Transamerica Capital Inc.