Transamerica's Principium II Variable Annuity Continues to Gain Market Share.
DENVER -- Transamerica Life Insurance Company (Transamerica) is attracting new clients and gaining market share in the variable annuity market, thanks in part to its Principium II variable annuity. Available for more than a year - since August 18, 2008 - Principium II is a lower-cost variable annuity with ETF-based subaccounts. The product is easy to explain and offers optional benefits similar to those available with rest of Transamerica's variable annuity suite.
"We're pleased with the success of Principium II over the last year, and we're not surprised to see many of our competitors have recently followed suit in creating similar variable annuities," said Dave Paulsen, executive vice president, national sales manager for annuities at Transamerica Capital, Inc. "As one of the first annuity providers to offer a lower-cost solution, we look forward to building upon progress we've made. Delivering valuable solutions to help individuals achieve their long-term financial goals with Principium II and other Transamerica annuities is among our top priorities."
Transamerica created Principium II in response to a growing client need for a relatively simple, lower-cost variable annuity. An early provider of ETF-based subaccounts, Transamerica keeps investor costs low with Principium II partly through these investment options. Two of the subaccount choices available with Principium II -Transamerica Index 50 VP and Transamerica Index 75 VP - allocate assets in underlying exchange traded funds from Vanguard, and are managed by AEGON USA Investment Management, LLC. Transamerica selected Vanguard as the portfolios' ETF provider because of their index management expertise and history of keeping investor costs low.
"Vanguard ETFs provide broadly diversified exposure to equity and fixed income markets, at a very low cost, and we're dedicated to bringing investing costs down even further over time," said Martha Papariello, principal and head of Vanguard Financial Advisor Services group. "That means more money remains invested and at work for our clients, and for Transamerica Principium II annuitants."
Overall Transamerica variable annuity sales continue to trend upward thanks in part to Principium II. Despite industry sales being down over 2008, Transamerica has posted month-over-month variable annuity sales growth through the first half of 2009.
"Our presence in the simple, lower-cost variable annuity space during a constantly evolving investment landscape is a driving factor in our sales success this year," said Lon Olejniczak, chief executive officer at Transamerica Capital, Inc. "It's clear that other variable annuity providers realize the value in this solution, and we are proud that we were among the first to market in creating Principium II."
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.
Variable annuities are long-term financial vehicles designed for retirement purposes and contain underlying investment portfolios that are subject to market fluctuation, investment risk and possible loss of principal.
Transamerica Principium II fees and charges range from 0.85%-1.65% M&E&A, 0%-5% surrender charges, $30-$35 annual fee, and subaccount management fees.
Please consider variable annuity investment objectives, risks, charges, and expenses carefully before investing. The contract and underlying fund prospectus contain this and other information about the annuity. Please call 1-800-525-6205 to obtain a prospectus and read it carefully before investing.
Annuities issued by: Transamerica Life Insurance Company Cedar Rapids, IA Transamerica Financial Life Insurance Company Purchase, NY Underwritten and distributed by: Transamerica Capital, Inc.
Transamerica Financial Life Insurance Company is licensed in New York.
Transamerica companies market an array of life insurance, annuities, retirement solutions and investments designed to help individuals, families, and businesses build, protect and preserve their assets. The Transamerica companies are members of the AEGON group, an international life insurance, pension and investment group, based in The Hague, The Netherlands. For more information about Transamerica, visit www.transamerica.com.
About Transamerica Capital, Inc.
Transamerica Capital, Inc. is the underwriting and wholesaling broker/dealer for Transamerica Life Insurance Company variable annuities. The company works with financial professionals at wirehouse, regional, independent, and bank firms to provide a variety of insurance and investment solutions.
About AEGON N.V.
AEGON has businesses in over 20 markets in the Americas, Europe and Asia. AEGON companies employ approximately 31,000 people and have over 40 million customers across the globe.
Respect, quality, transparency and trust constitute AEGON's core values as the company continually strives to meet the expectations of customers, shareholders, employees and business partners. AEGON is driven to be a leading force in global financial services. For more information about AEGON, visit www.aegon.com.
All policies, riders, and forms may vary by state, and may not be available in all states. AV1025 101 178 903, AV1029 101 178 903, Oregon AV1389 101 178 903, AV1343 101 178 903
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|Comment:||Transamerica's Principium II Variable Annuity Continues to Gain Market Share.|
|Article Type:||Company overview|
|Date:||Aug 25, 2009|
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