Variable Annuity Rider Improvements from Transamerica
Transamerica Life Insurance Company has made positive changes to its variable annuity living benefit rider, according to the company’s press release May 1st. These changes add new options to your investment choices along with the benefit of cost flexibility. Transamerica says that the main structure of the rider has not changed. According to executive vice president and national sales manager Dave Paulsen, “the new rider reflects our ongoing goal to offer industry-leading solutions while prudently and responsibly managing our business.”
Clients can now choose an open allocation option or designated allocation option. Any investment opportunity available in the annuity can be accessed in the former. The latter can be split up into any of 3 groups of investment options. The best news is that you are not stuck with whatever option you choose because Transamerica allows switching between the two options. An Annuity FYI expert can give you all the information you need to make an educated choice when looking at this and other annuity opportunities.
