Transamerica Debuts New Low-Cost Variable Annuity

BALTIMORE, April 20, 2020 /PRNewswire/ -- Transamerica announces the availability of the Transamerica Advisory Annuity^SM, an innovative, low-cost, variable annuity offered and issued by Transamerica Life Insurance Company.

The Transamerica Advisory Annuity offers investors these benefits:

• Lower costs – average annual fees are more than 70 percent lower than the most recent industry average shown by Morningstar, Inc. as of December 2018.
• Choice of death benefits – policy value or return of premium.
• Access to policy value with no surrender charges.
• A menu of 26 diverse investment options.
• Comfort in knowing their annuity is issued by a highly-rated insurance company.

"Variable annuities allow consumers to invest on a tax-deferred basis as they work toward the goal of creating a steady stream of income during retirement. We recognize that many Americans are focused on financial security right now. Variable annuities can be an excellent vehicle for helping to create future retirement security, as a complement to or substitute for other retirement savings accounts," said Joe Boan, Senior Managing Director, Wholesale Distribution and Marketing of Individual Solutions for Transamerica.

"For those investors who are focused on their retirement future, we have a team of annuity specialists ready to discuss all aspects of the Transamerica Advisory Annuity, and they can assist in setting up accounts and potential transfers of assets. They can provide customers with the information they need to make an educated decision and are ready to assist with implementation."

As a pioneer in the advisory annuity space, Transamerica is proud of its 30-year legacy established through a distribution relationship with one of the largest asset managers in the world. Transamerica serves investors directly as well as through the fee-based advisor and Registered Investment Advisor communities.

The Transamerica Advisory Annuity, the next generation in the evolution of advisory annuities, offers a diverse menu of 26 investment options, including 18 portfolios managed by Vanguard and eight portfolios managed by Dimensional Fund Advisors. Policy owners can choose among investment portfolios, including seven index portfolios, that generally invest in stocks, bonds, money market instruments, or a combination of the three.

To learn more about the Transamerica Advisory Annuity, please call (866) 799-6442, or visit www.transamerica.com. The Transamerica Advisory Annuity is not available in New York.