The Retirement Income Max rider is now available for purchase with Transamerica’s variable annuities. According to Insurance News Net’s “Transamerica Broadens Suite of Retirement Income Solutions with Retirement Income Max,” the rider is meant to help investors make the most of their retirement. This living benefit rider will cost more for annuity investors, but should help maximize their retirement income. Transamerica Capital’s Chief Sales Officer says that the rider looks to meet the demand from investors to maximize their reliable stream of lifetime income and also protect it from downturns in the market.
Depending on your age at the time withdrawals begin, your withdrawal percentage will be 4.5%, 5.5%, or 6.5%. This is for the single life option. You also have growth on growth potential with the Retirement Income Max. Transamerica’s popular Monthiversary and their 5% growth rate features give investors the potential for significant growth when you compare annuities. When the markets are up, your highest Monthiversary level is locked in and your withdrawal base is automatically increased to this level. If the market happens to be down, an annual compounding growth rate of 5% is given on the withdrawal base for up to 10 years. This is only in years when a withdrawal is not taken. If this new variable annuity rider appeals to you, speak with an annuity expert to find out more details.