A new fee-based variable annuity is being launched by Transamerica in an effort to offer investors and advisors additional flexibility in retirement planning. The Transamerica Variable Annuity I-Share will charge an annualized fee based on a percentage of the investor’s assets, and is available through broker-dealer managed platforms. Additionally, there will be no commission or surrender charges.
“The investment landscape is changing, and we see that investors and their advisors want more options when choosing how they invest,” said Joe Boan, senior vice president with Transamerica, in a recent press release. “Transamerica has been helping fee-based advisors and their clients with variable annuities for more than 20 years. The Transamerica Variable Annuity I-Share is intended to help fee-based advisors better serve clients who are planning for retirement income. Transamerica is expanding our retirement planning options to help people achieve a lifetime of financial security.”
Variable annuities are retirement tools that provide tax-deferred treatment of gains on investments. The investor can choose to add on lifetime payout options, death benefit options, and additional death distributions at the contract signing of a variable annuity.
The Transamerica companies were established more than 100 years ago and are recognized as leaders in the United States life insurance, savings, retirement and investment industries. For more information, visit www.transamerica.com.
Written by Rachel Summit