Transamerica Life Insurance Co. has announced the introduction of Transamerica Principium II, a variable annuity.
The product, which was introduced Monday, offers lower cost and a new pair of subaccount choices based on exchange-traded funds.
Principium II also includes the same benefits and features available with most of the Denver company's variable annuity lineup, with limited investment options. It also offers the retirement income living benefit rider for an added fee. This optional rider has multiple features that can support guaranteed withdrawals in various retirement situations.
The subaccount choices available with Principium II are Transamerica Index 50 VP and Transamerica Index 75 VP. Both allocate assets in underlying exchange-traded funds from Vanguard.
