BALTIMORE, Jan. 17, 2017 /PRNewswire/ -- Transamerica is launching the Transamerica Variable Annuity I-Share, a fee-based variable annuity that offers investors and their advisors additional flexibility in planning for retirement. Transamerica's Variable Annuity I-Share is available through broker-dealer managed money platforms, and charges an annualized fee that is based on a percentage of the investor's assets, with no commission charge upon purchase and no surrender charge.
"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. "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 investments that offer tax-deferred treatment of earnings on the investments. The investor can choose lifetime payout options, death benefit options, and additional death distributions when purchasing a variable annuity.
With a history that dates back more than 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings, retirement and investment solutions, serving millions of customers throughout the United States. Transamerica works to Transform Tomorrow® for those who entrust its dedicated professionals with their financial needs, helping them take the necessary steps to achieve their long-term goals and aspirations. Transamerica's 10,000 employees serve nearly every customer segment, providing a broad range of quality life insurance and savings products, individual and group pension plans, as well as asset management services. In 2015, Transamerica fulfilled its promises to customers, paying more than $6.9 billion in insurance and annuity benefits, including return of annuity premiums paid by the customer. Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2015, Aegon managed $768 billion in revenue generating investments. For more information, please visit www.transamerica.com.
About Variable Annuities
Variable annuities are long-term, tax-deferred vehicles designed for retirement purposes and are subject to investment risk, including possible loss of principal. Variable annuities are issued by Transamerica Life Insurance Company in Cedar Rapids, Iowa, and Transamerica Financial Life Insurance Company in Harrison, New York (Transamerica). Annuities are underwritten and distributed by Transamerica Capital, Inc. Transamerica Financial Life Insurance Company is licensed in New York. All guarantees, including optional benefits, are backed by the claims-paying ability of the issuing insurance company. For more information, visit www.transamerica.com/individual/products/annuities. All policies, living benefits, and forms may vary by state, and may not be available in all states. Form numbers are ICC12 VA(2)0513, NIC12 VA(2)0513(FL), and NIC12VA(2)0513(NY).
For more information on a variable annuity please go to www.transamerica.com for prospectuses. You should consider the objectives, risks, charges, and expenses of an investment carefully before investing. Read them carefully before you invest.
Jim Van Someren