PNC Advisor Platform to Offer Transamerica Annuities and Living Benefits

Transamerica products available for sale by PNC advisors.
Offerings include annuities and living benefit riders.
Agreement is part of Transamerica's growth strategy.

BALTIMORE, Oct. 6, 2023 /PRNewswire/ -- Transamerica is pleased to announce it has entered into a business arrangement with PNC, a leading provider of financial expertise. Transamerica's suite of annuity and living benefit products are now available for PNC customers. PNC and Transamerica are committed to providing products and services that help individuals prepare to achieve a lifetime of financial security.

Transamerica's unique annuity solutions give customers choice and flexibility that can be tailored to meet customer needs and priorities. The products now offered on the PNC platform include a registered index linked annuity, the Transamerica Structured Index Advantage^® Annuity. For an additional fee, with a Transamerica variable annuity, the Transamerica Principal Optimizer^SM and the Transamerica Income Edge^SM 1.2 optional living benefits are available.

With additional distribution through PNC advisors, Transamerica will now be able to offer even more Americans the opportunity to build a financial portfolio to help people plan for their best life, while providing the tools and solutions that make it easier to achieve retirement and other long-term goals. Annuities offered by Transamerica are designed to provide the potential for growth, protection for established assets and income for life, regardless of how the markets may perform.

The agreement with PNC is part of Transamerica's strategy to accelerate growth and continued investment in flexible and tailored financial planning tools and resources.

About Transamerica
With a history that dates back more than 100 years, Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Transamerica's dedicated professionals focus on helping people live their best lives through saving, investing, and protecting their loved ones. Transamerica is dedicated to building America's leading middle market life insurance and retirement company, with unique access to the large and growing middle market consumer via World Financial Group and U.S. retirement recordkeeping. Transamerica provides a broad range of quality individual life insurance policies, workplace supplemental insurance benefits, workplace retirement plans, individual retirement accounts, and investment products including mutual funds, annuities, stable value solutions, as well as investment management services.

In 2022, Transamerica fulfilled its promises to customers, paying more than $46 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica's head office is in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa, and Denver, Colorado. Transamerica is part of the Aegon group of companies. Each Aegon company is solely responsible for its own financial conditions and contractual obligations. Based in the Netherlands, Aegon is an international financial services holding company.

For more information, visit www.transamerica.com.

About Annuities
Annuities are long-term, tax-deferred vehicles designed for retirement purposes and are subject to investment risk, including possible loss of principal. Annuities issued in all states except New York by Transamerica Life Insurance Company, Cedar Rapids, Iowa and in New York by Transamerica Financial Life Insurance Company, Harrison, N.Y. Annuities are underwritten and distributed by Transamerica Capital, Inc. 1801 California St., Suite 5200, Denver CO 80202, FINRA member. References to Transamerica may pertain to one or all of these companies.

Securities products are sold by prospectus. Before investing, you should consider investment objective, risks, charges and expenses. This and other information is contained in the prospectus. Go to transamerica.com for prospectuses containing this and other information. Please read carefully.

All guarantees are based on the claims-paying ability of the issuing insurance company. Annuity fees and charges include mortality and expense risk fee and administrative charge, surrender charges, annual fee, and investment option management fee. Additional fees may apply to optional benefits selected, including living benefit riders.

If you elect an optional living benefit, there are certain underlying investment options offered in the policy that use a volatility control strategy. If you elect one of the optional living benefits, Transamerica requires the Policy Value to be allocated in a manner described in the contract, which may include a volatility control strategy.

In periods of high market volatility, volatility control strategies could limit your participation in market gains; this may conflict with your investment objectives by limiting the ability to maximize potential growth of the Policy Value and, in turn, the value of any guaranteed benefit that is tied to investment performance.

Volatility control strategies are intended to help limit overall volatility and reduce the effects of significant market downturns during periods of high market volatility, providing policy owners with the opportunity for smoother performance and better risk-adjusted returns.

You pay an additional fee for the living benefits which, in part, pay for protecting the living benefit base from investment losses. Since the living benefit base does not decrease as a result of investment losses, volatility control strategies might not provide any meaningful additional benefit.

If you determine that underlying funds with volatility control strategies are not consistent with your investment objectives, other investment options are available under the living benefits that do not invest in funds that utilize volatility control strategies. You cannot directly invest in an index and the annuity does not participate directly in any stock or equity investments. Withdrawals of taxable amounts are subject to ordinary income tax and may be subject to a 10% additional federal tax if withdrawn before age 59½. Transamerica Structured Index Advantage Annuity may be referred to as a variable annuity or modified guaranteed annuity in some states. Not available in Missouri, New York or Oregon. All policies, riders, and forms may vary by state and may not be available in all states.

Media inquiries:

[email protected]

Erin Yang(303) 383-5295

View original content to download multimedia:https://www.prnewswire.com/news-releases/pnc-advisor-platform-to-offer-transamerica-annuities-and-living-benefits-301949074.html