Last week Transamerica, a leading provider of life insurance, retirement and investment solutions, announced the launch of the Transamerica Advisory Annuity, a new low-cost variable annuity. The innovative product offers investors the following benefits, according to a recent article from Herald-Mail Media:
- Lower cost – average annual fees are more than 70% lower than recent industry averages 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 different investment options
- Peace of mind in knowing the 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.”
The diverse menu of 26 investment options offered with the Transamerica Advisory Annuity include 18 portfolios managed by Vanguard and 8 managed by Dimensional Fund Advisors. Policy owners can make a selection among investment portfolios, including seven index portfolios, which typically invest in stocks, bonds, money market instruments, or a combination of the three.
For more information about this annuity product and more, visit www.annuityfyi.com.
Written by Rachel Summit