Transamerica Variable Annuities: Right For Some
Transamerica variable annuities are some of the most common available from this company. Transamerica does offer fixed annuities as well, though they offer fewer fixed annuity programs than they do variable programs. Those who are considering investing in this company’s annuities should learn what each of them offers as well as whether or not it is the right option for their particular investment goals. It is also important to point out that Transamerica also offers immediate annuities for those who are looking for a quick income option. Most of the Transamerica variable annuities are for long term investing for retirement.
One option offered is the Transamerica Advisor Elite. This particular annuity offers standard features that help to make management simpler. This annuity can be somewhat customized to meet the goals of the investor, which includes living and death benefits that can be added to the policy. This annuity requires a minimum initial premium of $5000 for those plans that are non-qualified and $1000 for qualified plans. This plan offers no surrender charge and you have the option of adding the Guaranteed Lifetime Withdrawal Benefit to the plan.
Another option for those considering Transamerica variable annuities is the Transamerica Extra plan. This option is tax deferred. Transamerica Life Insurance Company issues it. The premium enhancement is offered on this plan based on the ages of the policy holder.
The Transamerica Freedom annuity is another of the Transamerica variable annuities. Transamerica Insurance Company issues this product as well and it has no surrender charged. It has a design to offer more options than other variable products offered by the company. Individuals are able to customize these plans to accommodate their needs. For a more traditional annuity, consider the Transamerica Landmark. Here, you have another tax deferred annuity product, also backed by the company’s insurance company. This offers more options for retirement planning customization to allow more people to meet their specific investment requirements.
As with any type of variable product, Transamerica variable annuities do have risk associated with them. The risks include the loss of principal since these accounts do fluctuate with the market movements. To fit the needs of each individual, the company offers a number of variable annuity riders. This includes the Retirement Income Choice rider, which gives a living benefit. This particular rider enables retirees who are facing challenges in creating enough retirement income to do so. It offers guaranteed payments for life even if the policy falls to a zero balance. Another rider offered on Transamerica variable annuities is the Guaranteed Principal Solution, which gives the user three options including Principal Protection, 7 Percent Principal bank and 5 Percent For Life Withdrawals.
Those considering the investment in Transamerica variable annuities should focus their attention on the specific types available that coincide with their particular investment goals in the short and long term. The company is one that offers a number of other investment products as well, allowing for a wide range of investment opportunities for investors.