BALTIMORE, Jan. 31, 2018 /PRNewswire/ — Addressing customers’ objectives for security and flexibility in their retirement planning, Transamerica has made enhancements to the Transamerica Retirement Income Max® living benefit rider available with most Transamerica variable annuities.

Transamerica logo (PRNewsFoto/Transamerica Retirement Solution) (PRNewsFoto/)

Changes to the optional living benefit include increasing the compounding growth rate to an industry leading 7.2 percent, presenting the opportunity to double the withdrawal base in 10 living benefit years, if no withdrawals are taken during that time. The withdrawal base does not establish or guarantee policy value, surrender value, minimum death benefit, or return for an investment option.

Transamerica Retirement Income Max is a living benefit available for new Transamerica variable annuity customers that can guarantee investors a steady, reliable income stream for life for a fee of 1.35% annually.

«This is positive news for our customers who count on Transamerica’s variable annuity living benefit riders for a portion of their retirement income,» said Joe Boan, senior vice president with Transamerica. «This new, higher growth rate equips investors with a financial strategy that will provide a stable source of income they can count on for the rest of their lives in retirement.»

By choosing Transamerica Retirement Income Max, investors have the opportunity to receive a straightforward compounded growth rate of 7.2 percent for 10 living benefit years even in down markets – if no withdrawals are taken during that time – providing a lifetime pension-like income that won’t decrease even if the policy value reaches zero due to a market downturn. Once the income payments begin, if the policy value reaches zero due to the customer withdrawing in excess of the guaranteed withdrawal amount, the living benefit and policy will terminate. Investors also have the flexibility of adding or dropping the rider if their needs change.

«We are well aware of the challenges people face in preparing for retirement,» Boan said. «Our goal is to provide them with quality products and options that fit their specific circumstances. A Transamerica variable annuity combined with the living benefit rider is one solution that can help grow and protect retirement savings, in addition to providing lifetime income.»

All guarantees, including optional benefits, are based on the claims-paying ability of the issuing insurance company.

To learn more about Transamerica Retirement Income Max and Transamerica’s broad range of variable annuities and other retirement and investment products, visit

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life in order to enhance the prospects for a lifetime of financial security, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2016, Transamerica fulfilled its promises to customers, paying more than $7.2 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. Based in the Netherlands, 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 2016, Aegon managed $784 billion in revenue generating investments. For more information, please visit

About Transamerica 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. Annuity fees and charges include mortality and expense risk fee and administrative charge, surrender charges, annual fee, and investment option management fee. Initial living benefit fee is 1.35% annually. The living benefit fee percentage may increase beginning with the first living benefit year with an automatic step-up. The maximum living benefit fee percentage allowed is 0.75% higher than the initial percentage. Withdrawals of taxable amounts are subject to ordinary income tax and may be subject to a 10% additional federal tax if withdrawn before age 591/2. The policy’s living benefit can be dropped within 30 days after each fifth-year living benefit anniversary.

The withdrawal and growth percentages and living benefit fees may change and the amounts listed herein may not be the most current rates. The most current percentages and living benefit fees are disclosed in the applicable Rate Sheet Prospectus Supplement, which may be amended by us from time to time. Please contact our administrative office to determine whether the rates above have been amended. You should not purchase this living benefit without first obtaining the applicable Rate Sheet Prospectus Supplement.

If you elect the Retirement Income Max® living benefit, Transamerica requires your policy value to be allocated into designated investment options, which may include a volatility control strategy. In periods of high market volatility, volatility control strategies could limit your participation in market gains; this may conflict with your investment objectives by limiting your ability to maximize potential growth of your policy value and, in turn, the value of any guaranteed benefit that is tied to investment performance. Volatility control strategies are intended to help limit overall volatility and reduce the effects of significant market downturns during periods of high market volatility, providing policy owners with the opportunity for smoother performance and better risk-adjusted returns. You pay an additional fee for the living benefits which, in part, pay for protecting the living benefit base from investment losses. Since the living benefit base does not decrease as a result of investment losses, volatility control strategies might not provide meaningful additional benefit to you. If you determine that underlying funds with volatility control strategies are not consistent with your investment objectives, there continue to be other designated investment options available under the Retirement Income Max benefit that do not invest in funds that utilize volatility control strategies.

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. 1801 California Street, Suite 5200, Denver, CO 80202. Transamerica Financial Life Insurance Company is licensed in New York. For more information, visit All policies, living benefits, and forms may vary by state, and may not be available in all states. Rider form numbers are ICC12 RGMB410513(IS), ICC12 RGMB410513(IJ), RGMB 41 0111 (IS) (FL), RGMB 41 0111 (IJ) (FL), RGMB 41 0514R (IS)(NY), RGMB 41 0514R (IJ)(NY).

For more information on a variable annuity, please go to for prospectuses. You should carefully consider the objectives, risk, charges and expenses of an investment before investing. Read them carefully before you invest.

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