Transamerica Offers New Withdrawal Schedule for Retirement Income Products
February 2, 2010 (PLANSPONSOR.com) - Transamerica Life Insurance Company
has introduced an enhanced withdrawal schedule for its Retirement Income Choice
1.2 and Retirement Income Choice 1.4 riders.
New clients between ages 65 to 74 who begin taking
withdrawals can now receive up to 5% of their withdrawal base annually for
life, and those ages 75 and older can receive up to 6% of their withdrawal
base. A press release said the new percentages – a full point higher than
previously available in some cases – "can help financial professionals aid
their clients in gaining financial security in retirement."
The Retirement Income Choice 1.2 and 1.4 riders continue
to offer The Power of 12 – an automatic reset based on clients’ best 'Monthiversary'
value each year – during both accumulation and withdrawal periods. Both riders also
still offer compounding 5% withdrawal base growth based on the previous year’s
highest 'Monthiversary' value.
According to the press release, the new withdrawal
schedule arrives shortly after Transamerica added 16 new investment options to
its variable annuity platform in November.
Financial
professionals interested in learning more should contact the Transamerica sales
desk at 1-800-851-7555. Investors should contact the customer care group at
1-800-525-6205.
PLANSPONSOR staff
editors@plansponsor.com