Transamerica announced enhancements to its current fixed index annuities and the launch of a new product suite in an alliance with Annexus to expand distribution.


Image: Transamerica and Annexus launch enhanced suite of fixed index annuities. Photo: Courtesy of jimbophoto/

The Transamerica Secure Retirement Index II Annuity is designed to help address Americans’ objectives for consistency and flexibility while providing a source of guaranteed lifetime retirement income.

“We see fixed index annuities as a huge opportunity to expand our leadership position in the annuities market,” said Joe Boan, Transamerica Chief Sales Officer. “We chose to work with Annexus because of their thought leadership, proven ability to capture market share, and exceptional record of innovation with fixed index annuities.”

The new Transamerica Secure Retirement Index II Annuity features the NYSE Expanded Opportunities Index, which mimics the advanced quantitative finance techniques used by Morgan Stanley Investment Management to manage assets on behalf of large pension funds, endowments and other institutional investors worldwide. The NYSE Expanded Opportunities Index is administered by ICE Data Indices, part of the Intercontinental Exchange, which is the parent company of the New York Stock Exchange.

Enhancements were also made to the Transamerica Income Plus living benefit which offers, for a fee, lifetime income guaranteed that grows during the first 10 policy years at a 10% simple annual rate in each policy year without a withdrawal. Once withdrawals begin, the annual income will be paid for life.

“Financial professionals feel strongly about the value of being able to offer a consistent stream of retirement income to their clients,” Mr. Boan noted.  “Our enhanced living benefit rider creates a source of income clients can count on for the rest of their lives, even if they live to be age 100 or older.”

“People nearing or in retirement have two major concerns: market volatility and whether they’ll run out of money in retirement,” said Annexus Co-Founder, Don Dady. “The Transamerica Secure Retirement Index II Annuity offers financial professionals and their clients a powerful product for both challenges.”

“Annexus is focused on expanding client-centered fixed index annuities to a broader market,” Annexus Co-Founder, Ron Shurts added. “This product suite, especially the shorter-term 5-year Contingent Deferred Surrender Charge design, is intuitive to Registered Investment Advisors who need to de-risk portfolios as clients near retirement.”

It’s always important to remember that guaranteed income is subject to the claims-paying ability of the issuing insurance company.

Financial professionals seeking additional information should contact their Transamerica representative or an Annexus-affiliated independent distribution company. If you’re preparing for or are in retirement and want more information, please contact your financial professional.

Source: Company Press Release