ESI is pleased to announce that the Transamerica Structured Index Advantage Income Annuity is now available for new business.
This product serves as Transamerica’s income-focused Registered Index-Linked Annuity (RILA) offering, combining growth potential linked to market indexes with partial downside protection and income-focused features designed to support retirement income planning.
Product Highlights
The Structured Index Advantage Income Annuity offers multiple ways to customize an income strategy, including:
- A no-fee income option
- An optional Step-Up Income Rider for an additional annual fee
- Enhanced Credit Advantage index options that provide greater crediting potential in exchange for additional fees
- A range of index allocation choices to align with client objectives and risk tolerance
This solution may be appropriate for clients who are comfortable accepting capped upside potential in exchange for downside protection and future income opportunities.
Important Suitability Considerations
When submitting new business, documentation should clearly explain the rationale for recommending the product, including any optional riders selected, associated fees, and the impact that market performance and layered fees may have on contract values and future income opportunities.
In particular, client discussions should address and document understanding of the following:
- There is no minimum guaranteed living benefit base value until income is activated.
- Income is based on the account value at the time of income activation, which may be less than the premiums paid.
Providing a thorough and client-specific rationale can help facilitate a smoother suitability review process.
Questions?
For product-specific questions, contact Transamerica at 800-851-7555.
For suitability questions or case previews, contact ESI Suitability at 800-344-7437 (Option 2, then 5, then 2) or email ESIDBCasePreview@nationallife.com.
TC8953838(0626)1
