Communication from Transamerica:
ANNUITY PRODUCT AND RIDER CLOSURES
You deserve a product partner that is dedicated to delivering and maintaining solutions that evolve with the ever-changing market environment. While we remain committed to the long-term success of our annuities business, we are making adjustments to our product offerings as we transition our focus from Minimum Guaranteed Withdrawal Benefits to accumulation and protection.
This is well represented through our continued offerings of Investment Only Variable Annuities which include policy value, return of premium and annual step-up death benefit options and the Transamerica Principal Optimizer SM (TPO) rider offered with a Transamerica variable annuity. For an additional fee, this optional rider allows clients the opportunity to invest with open allocation and a principal guarantee after a 10-year waiting period.
Effective February 26, 2021, the products and riders listed below will no longer be available.
1) DISCONTINUED PRODUCTS
The following annuity products will no longer be available for new sales.
- Transamerica Secure Retirement Index®
- Transamerica Secure Retirement Index® II
2) DISCONTINUED RIDERS
The following annuity riders will no longer be available for new sales.
- Additional Death DistributionSM (ADD)
- Additional Death Distribution+SM (ADD+)
- Retirement Income Choice® (all versions)
- Retirement Income Max® (all versions)
- Transamerica Income EdgeSM (all versions)
- Transamerica Income Plus®
For existing policyholders, we will discontinue the ability to add these riders as of March 31, 2021. (Check the prospectus for specific rider availability)
For Additional Death DistributionSM (ADD) and Additional Death Distribution+SM (ADD+), the spouse will continue to have the option to re-add the rider at the time of the death claim, if the Spousal Continuation option is chosen.
TC119621(0221)1