Transamerica Life Insurance Company Separate Account VA B (EST. 1/19/1990) Administrative Office 6400 C Street SW Cedar Rapids, Iowa 52499-0001 (800)525-6205 www.transamerica.com |
Transamerica Financial Life Insurance Company
Separate Account VA BNY (EST.
9/27/1994) Administrative
Office 6400 C Street SW
Cedar Rapids, Iowa 52499-0001
(800)525-6205
www.transamerica.com |
glossary of terms___________________ |
3 |
5 | |
Overview of the policy______________ |
9 |
EXAMPLES
_________________________ |
11 |
Policy
____________________________ |
16 |
Business Continuity____________________ |
17 |
17 | |
Information About Us___________________ |
17 |
Financial Condition of the Company__________ |
17 |
The Separate Account___________________ |
18 |
The Underlying Fund Portfolios_____________ |
18 |
Other Transamerica Policies_______________ |
18 |
VOTING RIGHTS______________________ |
19 |
THE ANNUITY Policy__________________ |
19 |
PURCHASE___________________________ |
20 |
Policy Issue Requirements_________________ |
20 |
Premium Payments_____________________ |
20 |
Policy
Value_________________________ |
21 |
INVESTMENT OPTIONS_________________ |
21 |
22 | |
Options_________________________ |
23 |
The Fixed Account_____________________ |
24 |
Transfers___________________________
|
24 |
Investment Restrictions__________________ |
25 |
Market Timing and Disruptive Trading_________ |
26 |
EXPENSES____________________________ |
28 |
Transaction Expenses:___________________ |
28 |
Premium Based Charge__________________ |
28 |
Surrender Charges_____________________ |
28 |
Excess Interest Adjustment________________ |
29 |
Premium Taxes_______________________ |
29 |
Federal, State and Local Taxes______________ |
29 |
Special Service Fees_____________________ |
30 |
Transfer
Fee_________________________ |
30 |
Base Contract Expenses__________________ |
30 |
Mortality and Expense Risk Fees_____________ |
30 |
Administrative Charges__________________ |
30 |
Annual Service Charge___________________ |
30 |
Fund Facilitation Fee____________________ |
30 |
Optional Benefits______________________ |
30 |
30 | |
Reduced Fees and Charges________________ |
31 |
Revenue We Receive____________________ |
31 |
32 |
Ownership__________________________
|
32 |
Beneficiary__________________________
|
32 |
Assignment_________________________
|
32 |
Termination for Low Value________________ |
33 |
Certain Offers________________________ |
33 |
Exchanges and/or Reinstatements____________ |
33 |
ACCESS TO YOUR MONEY_______________ |
33 |
Surrenders and Withdrawals_______________ |
34 |
Delay of Payment and Transfer______________ |
34 |
Excess Interest Adjustment________________ |
34 |
Signature Guarantee____________________ |
35 |
36 | |
Annuity Payment Options________________ |
36 |
38 | |
DEATH BENEFIT_______________________ |
46 |
When We Pay A Death Benefit_____________ |
47 |
47 | |
47 | |
Owner
Death________________________ |
48 |
Spousal Continuation___________________ |
48 |
Amount of Death Benefit_________________ |
48 |
Guaranteed Minimum Death Benefit__________ |
48 |
Adjusted Withdrawal___________________ |
50 |
Optional Benefit Riders_____________ |
50 |
ADDITIONAL FEATURES________________ |
61 |
Systematic Payout Option________________ |
61 |
61 | |
Unemployment Waiver__________________ |
61 |
62 | |
Dollar Cost Averaging Program_____________ |
62 |
Asset Rebalancing_____________________ |
63 |
Loans______________________________ |
63 |
TAX INFORMATION____________________ |
63 |
OTHER INFORMATION_________________ |
72 |
State Variations_______________________ |
72 |
Order___________________________ |
73 |
Regulatory Modifications to Policy___________ |
73 |
73 | |
Mixed and Shared Funding________________ |
74 |
Abandoned or Unclaimed Property___________ |
74 |
Legal Proceedings______________________ |
74 |
Distribution of the Policies________________ |
74 |
| |
UNDER
THE POLICY______________ |
77 |
| |
84 | |
| |
Investment
Options____________ |
87 |
| |
Examples
______________________ |
89 |
| |
92 | |
| |
Premium Based Charge____________ |
95 |
| |
98 | |
| |
99 | |
| |
EXAMPLES
______________________ |
100 |
|
FEES AND EXPENSES |
Location in
Prospectus | ||
Charges for Early
Withdrawal |
If You withdraw money in excess of the Surrender Charge Free Amount,
You may be assessed a surrender charge on the withdrawal.
The current surrender charge, if any is imposed, applies
to each premium payment. The surrender charge is an
acceleration of some or all of the remaining premium
based charge. The total of Premium Based Charges and
surrender charges deducted will not exceed 5% of the aggregate premium
payments. There are no surrender charges for any
particular premium payment after seven
years. |
Annuity Policy Fee
Tables and
Expense
Examples
Transaction Expenses
– Surrender Charge Access to Your Money Surrenders and Withdrawals | ||
Transaction Charges |
In addition to surrender charges, You also may be assessed a transfer
fee and special services fee.
Transfer Fee. We reserve the right to charge for transfers among Investment Options after the first 12 transfers per
Policy Year. For each such
additional transfer, we may impose a transfer fee of $10.
Currently, we do not charge a transfer fee, but reserve
the right to do so. Special Service
Fee. We reserve the right to deduct a charge for special
services, including overnight delivery, duplicate policies, handling
insufficient checks on new business, duplicate Form 1099
and Form 5498 tax forms, check copies, printing and
mailing previously submitted forms, and asset
verification requests from mortgage companies. For policies
issued prior to May 1, 2015, the special services fee may be up to
$30. |
Annuity Policy Fee
Tables and
Expense
Examples
Expenses – Transaction Expenses |
|
FEES AND EXPENSES
|
Location in
Prospectus | ||
Ongoing Fees and
Expenses
(annual charges) |
The table below describes the fees and expenses that You may pay
each year, depending on the options You choose. Please
refer to Your Policy specifications page for information
about the specific fees You will pay each year based on
the options You have elected. |
Annuity Policy Fee
Tables and
Expense
Examples
Base Contract
Expenses Appendix
– Portfolio Companies Available Under the Policy | ||
Annual Fee |
Minimum |
Maximum | ||
Base Policy1 |
0.75% |
2.75% | ||
Premium Based Charge2 |
1.25% |
5.00% | ||
Portfolio Company (fund fees and expenses)3 |
0.54% |
1.45% | ||
Optional Benefit Expenses (if elected) |
0.15%1 |
2.50%4 | ||
1 As a percentage of average Separate Account
Value. | ||||
2 As a percentage of premium payments. | ||||
4 As a percentage of Portfolio Company assets. | ||||
5 As a percentage of the withdrawal base. | ||||
Because Your Policy is customizable, the choices You make affect how
much You will pay. To help You understand the cost of
owning Your Policy, the following table shows the lowest
and highest cost You could pay each
year based on current charges. This estimate assumes that You do not
take withdrawals from the Policy, which could add surrender charges that substantially increase costs.
| ||||
Lowest Annual Cost
$2,038 |
Highest Annual Cost
$5,774 | |||
Assumes: |
Assumes: | |||
●Investment of $100,000 ●5% annual appreciation
●Least expensive Portfolio Company fees and expenses ●No optional benefits
●No sales charges ●No additional purchase payments,
transfers, or withdrawals |
●Investment of $100,000 ●5% annual appreciation
●Most expensive combination of optional benefits and Portfolio Company fees and expenses ●No sales charges
●No additional purchase payments, transfers, or withdrawals | |||
|
RISKS |
Location in
Prospectus | ||
Risk of Loss |
You can lose money by investing in this Policy. |
Principal Risks of
Investing in the
Policy | ||
Not a Short-Term
Investment |
This Policy is not a short-term investment and is not appropriate for
an investor who needs ready access to cash.
Surrender charges may apply for several years under the Policy.
Surrender charges will reduce the value of Your Policy if
You withdraw money during that time.
The benefits of tax deferral and living benefit protection also means
the Policy is more beneficial to investors with a
long-term time horizon. |
Principal Risks of
Investing in the
Policy Transaction
Expenses -
Surrender Charges
Tax Information
|
|
RISKS |
Location in
Prospectus | ||
Risks Associated with
Investment Options |
●An investment in this Policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
Investment Options available under the
Policy. ●Each Investment Option, including the Fixed Account, has its own
unique risks.
●You should review the prospectuses for the available Portfolio Companies before making an investment decision. |
Principal Risks of
Investing in the
Policy Investment
Options Appendix:
Portfolio
Companies Available
Under the
Policy | ||
Insurance Company
Risks |
Any obligations (including under the Fixed Account), guarantees, and
benefits under the Policy are subject to our
claims-paying ability. If we experience financial
distress, we may not be able to meet our obligations to
You. More information about Transamerica Life Insurance Company or Transamerica Financial Life Insurance Company, including our financial
strength ratings, is available by visiting transamerica.com or by calling
toll-free (800)525-6205. |
Principal Risks of
Investing in the
Policy Information
About Us Financial
Condition | ||
|
RESTRICTIONS |
Location in
Prospectus | ||
Investments |
●We reserve the right to impose a charge for transfers in excess of 12
transfers per Policy Year.
●We reserve the right to limit transfers in circumstances of large or
frequent transfers.
●The Fixed Account option may not be available for investment depending on when You applied for Your Policy and when it was issued.
●We reserve the right to remove or substitute the Portfolio Companies
that are available as Investment Options under the Policy.
|
Transaction
Expenses
Investment Option – Transfers Market Timing and Disruptive Trading | ||
Optional Benefits |
●Certain optional benefits limit or restrict the Investment Options that
You may select under the Policy. We reserve the right to change these
restrictions in the future.
●Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn, which could significantly reduce the
value or even terminate the benefit.
●We reserve the right to stop offering an optional benefit at any time for
new sales, which includes sales to the Owners who may want to
purchase the benefit after they purchase the
Policy. ●In some cases, a benefit may not be available through all financial
intermediaries or all states. For more information on the options
available for electing a benefit, please contact Your
financial intermediary or our Administrative
Office. |
Investment
Restrictions
Benefits Available
Under the
Policy Optional
Benefit Riders |
|
TAXES |
Location in
Prospectus | ||
Tax Implications |
●Consult with a tax professional to determine the tax implications of an
investment in and payments received under the Policy.
●If You purchase the Policy as an individual retirement account or
through a tax qualified plan, You do not get any additional tax
benefit. ●You will generally not be taxed on increases in the value of Your Policy
until they are withdrawn. Earnings on Your Policy are taxed at ordinary
income tax rates when withdrawn, and You may have to pay
a penalty if You take a withdrawal before age 59
½. |
Tax Information
| ||
|
CONFLICT OF INTEREST |
Location in
Prospectus | ||
Investment Professional
Compensation |
Your investment professional may receive compensation for selling this
Policy to You, in the form of commissions, additional
cash benefits (e.g., bonuses), and non-cash compensation.
Our affiliate, Transamerica Capital, Inc. (“TCI”) is the principal underwriter and may share the
revenue we earn on this Policy with Your investment
professional’s firm. In addition, we may pay all or
a portion of the cost of affiliates’ operating and
other expenses. This conflict of interest may influence Your investment professional to recommend this Policy over another investment
for which the investment professional is not compensated or compensated
less. |
Distribution of the
Policies | ||
Exchanges |
If You already own an insurance Policy, some investment professionals
may have a financial incentive to offer You a new Policy
in place of the one You own. You should only exchange a
Policy You already own if You determine, after comparing
the features, fees, and risks of both policies, that it
is better for You to purchase the new Policy rather than continue to own Your existing Policy. |
Exchanges and/or
Reinstatements
|
Sales Load Imposed On Premium Payments |
0% |
Maximum Surrender Charge(1)
|
5% |
Maximum Transfer
Fee(2) |
$10 |
Maximum Special Service Fee(3) |
$50* |
Maximum Annual Service
Charge(4) |
$50 |
Maximum Premium Based
Charge(5) |
5% |
Base Contract Expenses (as a percentage, annually,
of average Separate Account Value)(6): |
0.75% |
Fund Facilitation Fee (as a percentage,
annually, of the net asset value of Subaccount) |
0.30% |
Optional Benefit Expenses: |
|
Annual Step-Up Death Benefit (as a percentage, annually, of average Separate Account Value) |
0.35% |
Return of Premium Death Benefit (as a percentage, annually, of average Separate Account Value) |
0.15% |
Optional Death Benefit Riders
– No Longer
Available |
|
Additional Death
DistributionSM (annual
charge - % of Policy Value) |
0.25% |
Additional Death
Distribution+SM (annual
charge - % of Policy Value) |
0.55% |
|
Maximum |
Optional Guaranteed Lifetime Withdrawal Benefit Rider Charges – No Longer Available(7) |
|
Retirement Income Max® 2.0 rider (annual charge - % of Withdrawal Base)* (for riders issued on or after May 1, 2017) |
2.50% |
Retirement Income Choice® 2.0 rider (annual charge - % of Withdrawal Base) (for riders issued on or after May 1, 2017) |
|
Base Benefit Designated Allocation Group A* |
2.50% |
Base Benefit Designated Allocation Group B* |
2.50% |
Base Benefit Designated Allocation Group C* |
2.50% |
Transamerica Income EdgeSM rider (annual charge - % of Withdrawal Base)* (for riders issued on or after May 1, 2017) |
2.50% |
|
Maximum |
Current |
Optional Guaranteed Lifetime Withdrawal Benefit Riders – No Longer
Available |
|
|
Retirement Income Max® 2.0 rider (annual charge - % of Withdrawal Base) (for riders issued May 1, 2015 to April 30, 2017) |
2.00% |
1.25% |
Retirement Income Choice® 2.0 rider (annual charge - % of Withdrawal Base) (for riders issued May 1, 2015 to April 30, 2017) |
|
|
Base Benefit Designated Allocation Group A |
2.20% |
1.45% |
Base Benefit Designated Allocation Group B |
1.85% |
1.10% |
Base Benefit Designated Allocation Group C |
1.45% |
0.70% |
Transamerica Income EdgeSM rider (annual charge - % of Withdrawal Base)* (for riders issued on or after May 1, 2017) |
2.15% |
1.40% |
|
Maximum |
Current |
Optional Guaranteed Lifetime Withdrawal Benefit Riders – No Longer
Available: |
|
|
Retirement Income Max® rider (annual charge - % of Withdrawal Base) |
2.00% |
1.25% |
Retirement Income Choice® 1.6 rider (annual charge - % of Withdrawal Base) (for riders issued on or after May 1, 2014) |
|
|
Base Benefit Designated Allocation Group A |
2.20% |
1.45% |
Base Benefit Designated Allocation Group B |
1.85% |
1.10% |
Base Benefit Designated Allocation Group C |
1.45% |
0.70% |
Additional Benefits available with Retirement Income Choice® 1.6 rider: |
|
|
Income EnhancementSM - (Single Life Option) |
0.30% |
0.30% |
Income EnhancementSM - (Joint Life Option) |
0.50% |
0.50% |
Retirement Income Choice® 1.6 rider (annual charge - % of Withdrawal Base) (for riders issued prior to May 1, 2014) |
|
|
Base Benefit Designated Allocation Group A |
2.30% |
1.55% |
Base Benefit Designated Allocation Group B |
1.85% |
1.10% |
Base Benefit Designated Allocation Group C |
1.45% |
0.70% |
Additional Benefits available with Retirement Income Choice® 1.6 rider: |
|
|
Income EnhancementSM - (Single Life Option) |
0.30% |
0.30% |
Income EnhancementSM - (Joint Life Option) |
0.50% |
0.50% |
Criteria for Potential Waiver |
Potential Waiver Amount** |
$50,000 thru $249,999.99* |
up to $35 |
$250,000 or more* |
up to $50 |
Premium Based Charge (as a percentage of premium payments) | |
Premium Payments |
Total Charges |
$0 thru $49,999.99 |
5.00% |
$50,000.00 thru $99,999.99 |
4.50% |
$100,000.00 thru $249,999.99 |
3.50% |
$250,000.00 thru $499,999.99 |
2.50% |
$500,000.00 thru $999,999.99 |
2.00% |
$1,000,000.00 or more |
1.25% |
Portfolio Companies |
Annualized Fee % |
American Funds - Asset Allocation FundSM - Class 2
American Funds - The Bond Fund of AmericaSM - Class 2
American Funds - Growth FundSM - Class 2
American Funds - Growth-Income FundSM - Class 2
American Funds - International FundSM - Class 2 |
0.30% |
AB Balanced Hedged Allocation Portfolio - Class B State Street Total Return V.I.S. Fund - Class 3 |
0.20% |
TA MSCI EAFE Index - Service Class TA S&P 500 Index - Service Class |
0.15% |
Annual Portfolio Company Expenses |
Minimum |
Maximum |
Expenses that are deducted from Portfolio Company assets, including management fees, distribution and/or service 12b-1 fees, Fund Facilitation Fee if applicable and other expenses |
0.54% |
1.45% |
Expenses that are deducted from Portfolio Company asset, including management fees, 12b-1 fees, Fund Facilitation Fee if applicable and other expenses, after any waivers or expense reimbursement |
0.54% |
1.41% |
1 Year |
$10,600 |
3 Years |
$22,044 |
5 Years |
$33,824 |
10 Years |
$64,923 |
1 Year |
$6,314 |
3 Years |
$19,187 |
5 Years |
$32,395 |
10 Years |
$64,923 |
Incoming Payments to Us and/or TCI | |
Underlying Fund Portfolio |
Maximum Fee % of assets |
TRANSAMERICA SERIES TRUST (“TST”) |
0.25% |
AB VARIABLE PRODUCTS SERIES FUND, INC. |
0.45% |
AMERICAN FUNDS INSURANCE
SERIES®
TRUST |
0.25% |
FIDELITY® VARIABLE INSURANCE PRODUCTS FUND |
0.395% |
STATE STREET VARIABLE INSURANCE SERIES FUNDS, INC. |
0.45% |
S* (G-C)* (M/12) | ||
S |
= |
Is the amount (before surrender charges, premium taxes and the application of any
Guaranteed Minimum Death Benefits, if any) being surrendered, withdrawn,
transferred, paid upon death, or applied to an income option
that is subject to the Excess Interest Adjustment;
|
G |
= |
Is the guaranteed interest rate for the guaranteed period applicable to “S”; |
C |
= |
Is the current guaranteed interest rate then being offered on new premium payments
for the next longer option period than “M”. If this Policy form or such an option
period is no longer offered, “C” will be the U.S. Treasury rate for the next longer
maturity (in whole years) than “M” on the 25th day of the previous calendar month,
|
M |
= |
Number of months remaining in the current option period for
“S”, rounded up to
the next higher whole number of months; and |
* |
= |
Multiplication |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
“Base Policy” Death Benefit |
Pays base death benefit
generally equal to the greatest of
Policy Value, Cash Value plus
positive Excess Interest
Adjustment and Fixed Account
portion of minimum required
Cash Value plus the Separate
Account portion of the Policy
Value. |
Standard |
No Charge |
●Available only at time of purchase. ●Cannot change death benefit
once elected.
●Death benefit terminates without value upon Annuitization. ●May not be available in all
states. |
Return of Premium
Death Benefit |
Pays minimum death benefit
equal to total premium
payments (minus adjusted
withdrawals as of the date of
death, and minus withdrawals
from the date of death to the
date the death benefit is paid). |
Optional |
0.15% annually of
average Separate
Account Value |
●Available only at time of
purchase.
●Cannot change death benefit once elected. ●Not available if You or
Annuitant is 86 or older on
Policy Date.
●Must allocate 100% of Policy Value to designated Investment Options. ●Withdrawals can significantly
reduce benefit value or
terminate benefit.
●Terminates upon Annuitization. ●May not be available in all
states. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Annual Step-Up Death
Benefit |
Pays death benefit equal to
highest Policy Value on Policy
Date or on any Policy
Anniversary prior to
Annuitant’s 81st birthday
(adjusted for premium
payments and withdrawals). |
Optional |
0.35% annually of
average Separate
Account Value |
●Available only at time of purchase. ●Cannot change death benefit
once elected.
●Not available if You or Annuitant is 76 or older on Policy Date. ●Must allocate 100% of Policy
Value to designated
Investment Options.
●Withdrawals can significantly reduce benefit value or terminate benefit. ●”Step-Up” ends on Policy
Anniversary prior to Your
81st birthday.
●Terminates upon Annuitization. ●May not be available in all
states. |
Additional Death
DistributionSM |
Pays an additional death benefit
amount based on any rider
earnings, since the rider was
issued. |
Optional |
0.25% annually of
the Policy Value. |
●This rider is no longer
available.
●Was available for issue ages through 75 and younger. ●Was not available to Inherited
IRAs.
●Was available only with Return of Premium Death Benefit or Annual Step-Up Death Benefit and subject to the same Investment Restrictions ●Additional benefit amount
varies by issue age.
●Terminates upon Annuitization. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Additional Death
Distribution+SM |
Pays an additional death benefit
amount that varies depending
on time elapsed since rider date. |
Optional |
0.55% annually of
the Policy Value |
●This rider is no longer available. ●Was available only for issue
ages 69 and younger.
●Not available to Inherited IRAs. ●Was available only with the
Return of Premium Death
Benefit or Annual Step-Up
Death Benefit, and subject to
the same Investment
Restrictions.
●Additional benefit amount during first five years after rider date equal to sum of all rider fees paid since rider date, after five years, benefit equal to percentage of rider benefit base. ●Terminates upon
Annuitization. |
Nursing Care and
Terminal Condition
Waiver |
Waives Surrender Charges and
Excess Interest Adjustments if
You or Your spouse are confined
to a nursing home or have
terminal illness. |
Standard |
No charge |
●Withdrawals are subject to a $1,000 minimum. ●Qualifying conditions related
to nursing home stay and
terminal illness.
●May not be available in all states. |
Unemployment Waiver |
Waives Surrender Charges and
Excess Interest Adjustments if
You or Your spouse become
unemployed due to involuntary
job termination or lay-off. |
Standard |
No charge |
●Qualifying conditions related
to job termination and job
history.
●Must be unemployed for a certain period of time prior to taking withdrawal, be receiving unemployment benefits, and have $5,000 minimum in Cash Value. ●May not be available in all
states. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Dollar Cost Averaging
Program |
Allows you to automatically
make transfers into one or more
Subaccounts |
Standard |
No charge |
●Traditional – A minimum of $500 per transfer is required. ●Minimum and maximum
number of transfers.
●Special – Limited to six month or twelve-month transfer program and only available for new premium payments. ●May not be available in all
states. |
Asset Rebalancing |
Automatically rebalances the
amounts in Your Subaccounts
to maintain Your desired asset
allocation percentages |
Standard |
No charge |
●Does not include any amounts allocated to the Fixed Account. |
Systematic Payout
Option |
Provides monthly, quarterly,
semi-annual or annual
withdrawals. |
Optional |
No charge |
●Subject to $40 minimum
withdrawals.
●Systematic withdrawals in excess of cumulative interest credited from Guaranteed Period Options may be subject to Excess Interest Adjustment. ●Systematic withdrawals in
excess of remaining Surrender
Charge Free Amount may be
subject to Surrender Charge.
●Systematic withdrawals can significantly reduce benefit value or terminate benefit. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Retirement Income
Max® Rider
|
Provides Guaranteed Lifetime
Withdrawal Benefit amount,
which can be withdrawn in any
rider year after age 59. |
Optional |
2.00% annually of
the Withdrawal Base |
●This rider is no longer
available.
●Could not be added to a Policy with another active Guaranteed Minimum Living Benefit, or with Inherited IRA policies. ●Was available for
Owner/Annuitant issue ages
of 0-85.
●Joint Life options available subject to certain restrictions and differences, including right to charge higher fee and provide lower annual withdrawal amounts. ●Rider fees subject to increase
(or decrease) at time of any
automatic step-up of
withdrawal base.
●Policy Value must be allocated to designated Investment Options. ●Excess withdrawals may
significantly reduce or
terminated the benefit.
●Terminates upon Annuitization. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Retirement Income
Max® 2.0
Rider |
Provides Guaranteed Lifetime
Withdrawal Benefit amount,
which can be withdrawn in any
rider year after age 59. |
Optional |
2.50% annually of
the Withdrawal Base
(riders issued on or
after May 1, 2017) |
●This rider is no longer
available.
●Could not be added to a Policy with another active Guaranteed Minimum Living Benefit, or with Inherited IRA policies. ●Was available for
Owner/Annuitant issue ages
of 0-85.
●Joint Life options available subject to certain restrictions and differences, including right to charge higher fee and provide lower annual withdrawal amounts. ●Rider fees subject to increase
(or decrease) at time of any
automatic step-up of
withdrawal base.
●Policy Value must be allocated to designated Investment Options. ●Excess withdrawals may
significantly reduce or
terminated the benefit.
●Terminates upon Annuitization. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Retirement Income
Choice 1.6 Rider |
Provides Guaranteed Lifetime
Withdrawal Benefit amount,
which can be withdrawn in any
rider year after age 59. Also
provides death protection
and/or long-term care benefit
for an additional fee. |
Optional |
2.20% annually of
the Withdrawal Base
(riders issued on or
after May 1, 2017)
Income
Enhancement
Option: 0.45%
annually (Single Life)
or 0.65% annually
(Joint Life) of
Withdrawal Base |
●This rider is no longer
available.
●Could not be added to a Policy with another active Guaranteed Minimum Living Benefit or with Inherited IRA policies. ●Was available for
Owner/Annuitant issue ages
of 0-85.
●Joint Life options available subject to certain restrictions and differences, including right to charge higher fee and provide lower annual withdrawal amounts. ●Rider fees subject to increase
(or decrease) at time of any
automatic step-up beginning
on the 5th rider anniversary.
●Policy Value must be allocated to designated Investment Options. ●Excess withdrawals could
significantly reduce or
terminate the benefits.
●The Income Enhancement Option subject to qualifying conditions, including conditions related to the hospital and/or nursing home stay. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Retirement Income
Choice 2.0 Rider |
Provides Guaranteed Lifetime
Withdrawal Benefit amount,
which can be withdrawn in any
rider year after age 59. |
Optional |
2.50% annually of
the Withdrawal Base
(riders issued on or
after May 1, 2017) |
●This rider is no longer
available.
●Could not be added to a Policy with another active Guaranteed Minimum Living Benefit or with Inherited IRA policies. ●Available for
Owner/Annuitant issue ages
of 0-85.
●Joint Life options available subject to certain restrictions and differences, including right to charge higher fee and provide lower annual withdrawal amounts. ●Beginning on the 5th rider
anniversary rider fees subject
to increase (or decrease) at
time of any automatic
step-up.
●Policy Value must be allocated to designated Investment Options. ●Excess withdrawals could
significantly reduce or
terminate the benefits. |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Brief Description of
Restrictions/Limitations |
Transamerica Income
EdgeSM
Rider |
Provides Guaranteed Lifetime
Withdrawal Benefit amount,
which can be withdrawn in any
rider year after age 59. |
Optional |
2.50% annually of
Withdrawal Base (for
rider issued on or
after May 1, 2017) |
●This rider is no longer
available.
●Could not be added to a Policy with another active Guaranteed Minimum Living Benefit or Guaranteed Minimum Income Benefit Rider, or with Inherited IRA policies. ●Was available for
Owner/Annuitant issue ages
of 0-85.
●Joint Life options available subject to certain restrictions and differences, including right to charge higher fee and provide lower annual withdrawal amounts. ●Rider fees subject to increase
(or decrease) at time of any
automatic step-up.
●Policy Value must be allocated to designated Investment Options. ●Excess withdrawals could
significantly reduce or
terminate the benefits. |
Abbreviation |
Definition |
ADB |
Additional Death Benefit |
ADD |
Additional Death Distribution |
ADD+ |
Additional Death Distribution Plus |
DB |
Death Benefit |
DCA |
Dollar Cost Averaging |
GFV |
Guaranteed Future Value |
GMDB |
Guaranteed Minimum Death Benefit |
GMIB |
Guaranteed Minimum Income Benefit |
GMLB |
Guaranteed Minimum Living Benefit |
IE |
Income EnhancementSM
|
Abbreviation |
Definition |
MRWA |
Minimum Remaining Withdrawal Amount |
N/A |
Not Applicable |
RDB |
Rider Death Benefit |
RIC |
Retirement Income
Choice® |
RMD |
Required Minimum Distribution |
RWA |
Rider Withdrawal Amount |
SPO |
Systematic Pay Out |
TWB |
Total Withdrawal Base |
WB |
Withdrawal Base |
WD |
Withdrawal |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
Purpose of Rider |
This is an Additional Death
Benefit Rider which can pay an
additional benefit at time of
death to help alleviate
the burden of taxes. |
This is an Additional Death
Benefit Rider which can pay an
additional benefit at time of
death to help alleviate
the burden of taxes. |
This is a GLWB rider that
guarantees withdrawals for the
Annuitant's2 lifetime,
regardless of Policy Value. ●The policyholder can withdraw the RWA each rider year until the death of the Annuitant.2
|
This is a GLWB rider that guarantees withdrawals for the Annuitant's2 lifetime, regardless of Policy Value. ●The policyholder can withdraw the RWA each rider year until the death of the Annuitant.2
|
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
|
|
|
●This benefit is intended to provide a level of payments regardless of the performance of the designated variable Investment Options You select. |
●This benefit is intended to provide a level of payments regardless of the performance of the designated variable Investment Options You select. |
Availability |
●Issue age 0-75 but not yet 76 years old (Policy application signed on or after May 1, 2020). ●Issue age 0-80 but not yet 81 years old (policy application signed prior to May 1, 2020). ●Not available in all states. |
●Issue age 0-75 but not yet 76 years old. ●Not available in all states. |
●Issue age 0-85, but not yet 86 years old (unless state law requires a lower maximum issue age). ●Single Annuitant ONLY. Annuitant must be an Owner (unless Owner is a non-natural person) ●Maximum of 2 living Joint Owners (with one being the Annuitant) ●Cannot be added to a Policy with other active GMLB riders. |
●Issue age 0-85, but not yet 86 years old (unless state law requires a lower maximum issue age). ●Single Annuitant ONLY. Annuitant must be an Owner (unless Owner is a non-natural person) ●Maximum of 2 living Joint Owners (with one being the Annuitant) ●Cannot be added to a Policy
with other active GMLB
riders. ●Not available on qualified annuity which has been continued by surviving spouse or beneficiary as a new Owner. |
Base Benefit and Optional
Fees at issue |
Percentage of Policy Value –
0.25% |
Percentage of Policy Value –
0.55% |
Percentage of withdrawal base -
1.25%
For riders issued prior to the
date of this prospectus, please
reference the “Appendix –
Prior Withdrawal/Growth
Percentages and Rider Fees” in
the Statement of Additional
Information. |
Fee based on designated
allocation groups and the
optional benefits selected. If
You elect a combination of
designated allocations from
among the various groups
below, then Your fee will be
based on a weighted average of
Your choices.Rider Fees:
Group A1.45% Group B1.10%
Group C0.70% Single Life IE0.30%
Joint Life
IE0.50% For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior Withdrawal/Growth Percentages and Rider Fees” in the Statement of Additional Information. |
Fee Frequency |
Assessed each rider anniversary
and at rider termination and
equal to the Policy Value
multiplied by rider fee
percentage. |
Assessed each rider anniversary
and at rider termination and
equal to the Policy Value
multiplied by rider fee
percentage. |
●The fee is calculated at issue and each subsequent rider quarter for the upcoming quarter based on the fund values and WB at that point in time and stored. ●Deducted at each rider quarterversary in arrears during the accumulation phase. ●The fee is calculated on a
quarterly basis. |
●The fee is calculated at issue
and each subsequent rider
quarter for the upcoming
quarter based on the fund
values and WB at that point
in time and stored. ●Deducted at each rider quarterversary in arrears during the accumulation phase. ●The fee is calculated on a
quarterly basis and varies |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
|
|
|
●A rider fee adjustment will be applied for subsequent premium payments and withdrawals that change the withdrawal base. ●The base rider fee adjustment will be calculated using the same formula as the base rider fee. ●The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated. ●A pro-rated fee is deducted at the time the rider is terminated or upgraded. |
depending on the fund
allocation option You have
chosen. ●A rider fee adjustment will be applied for transfers between allocation groups and for subsequent premium payments and withdrawals that change the withdrawal base. ●The base rider fee adjustment will be calculated using the same formula as the base rider fee. ●The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated. ●A pro-rated fee is deducted at the time the rider is terminated or upgraded. |
Death Benefit |
Amount is paid whenever a
death benefit is paid and the
rider is attached. ●Amount paid=ADB Factor x Rider Earnings* ●ADB Factor - 40% for issue ages 0-70 and 25% for issue ages 71-80 (when application signed date is prior to May 1, 2020). ●ADB Factor - 40% for issue ages 0-70 and 25% for issue ages 71-75 (when application signed date is after May 1, 2020). *Rider earnings are defined as: - the Policy Value on the date the death benefit is determined; minus -Policy Value on the rider date; minus - premium payments after the rider date; plus - surrenders after the rider date that exceed the rider earnings on the date of the surrender. NOTE: No benefit is payable under the ADD rider if there are no rider earnings on the date the death benefit is calculated. |
Amount is paid whenever a
death benefit is paid and the
rider is attached. ●Prior to 5th rider anniversary = Sum of all fees paid for this rider since the rider date. ●On or after 5th rider
anniversary = Rider Benefit
Base* x Rider Benefit
Percentage**.
The rider benefit percentage
= 30% for issue ages 0-70
and 20% for issue ages
71-75.
*The Rider Benefit Base at any
time is equal to the Policy
Value less any premiums added
after the Rider Date
NOTE: No benefit is payable
under the ADD+ rider if the
Policy Value on the date the
death benefit is paid is less
than the premium payments
after the rider date. |
N/A |
N/A |
Designated Investment
Options Available -
Policyholders who add these
riders may only invest in the
Investment Options listed.
Investment Options may not
be available as a designated
Investment Option based on
rider issue date. |
N/A |
N/A |
For a list of designated funds
for this rider, please reference
the Appendix - Designated Investment Options |
For a list of designated funds for this rider, please reference the Appendix - Designated
Investment Options |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
Requiring that You designate
100% of Your Policy Value to
the designated Investment
Options, some of which
employ strategies that are
intended to reduce the risk of
loss and/or manage volatility,
may reduce investment returns
and may reduce the likelihood
that we will be required to use
our own assets to pay amounts
due under this benefit.
PLEASE NOTE: These Investment Options may not be available on all products, may vary for certain policies and may not be available for all policies. Please reference Appendix - Portfolio Companies Available Under the Policy Appendix in Your
prospectus for available
Portfolio Companies. You
cannot transfer any amount to
any other non-designated
Subaccount without losing all
Your benefits under this rider. |
|
|
|
|
Withdrawal Benefits - See Hypothetical Adjusted Withdrawals - Guaranteed Lifetime Withdrawal Benefit Riders for examples showing
the effect of withdrawals on
the WB. |
N/A |
N/A |
The percentage is determined
by the attained age of the
Annuitant2 at the time of the
first withdrawal. ●Starting the rider anniversary following the Annuitant's259th birthday, the withdrawal percentage increases above 0% which creates a RWA available under the rider for withdrawal. ●On each rider anniversary, the RWA will be reset equal to the greater of: 1)The WB multiplied by
the Withdrawal
Percentage based on the
attained age of the
Annuitant2 at the time of
their first withdrawal if
applicable, and
2)The RMD amount for this Policy for the current calendar year. ●The policyholder does not have to take the entire RWA in any year. ●If they do not take the full amount available, the remaining portion does not carry over to the next rider year. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Withdrawal/Growth |
The percentage is determined by the attained age of the Annuitant2 at the time of the first withdrawal. ●Starting the rider anniversary following the Annuitant's259th birthday, the withdrawal percentage increases above 0% which creates a RWA available under the rider for withdrawal. ●On each rider anniversary,
the RWA will be reset equal
to the greater of:
1)The WB multiplied by the Withdrawal Percentage based on the attained age of the Annuitant2 at the time of their first withdrawal if applicable, and 2)The RMD amount for
this Policy for the current
calendar year. ●The policyholder does not have to take the entire RWA in any year. ●If they do not take the full
amount available, the
remaining portion does not
carry over to the next rider
year.
For riders issued prior to the
date of this prospectus,
please reference the
“Appendix – Prior Withdrawal/Growth |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
|
|
|
Percentages and Rider Fees”
in the Statement of
Additional Information. |
Percentages and Rider Fees”
in the Statement of
Additional Information. |
Automatic Step-Up Benefit |
N/A |
N/A |
On each rider anniversary, the
WB will be set to the greatest
of:
1)The current WB: 2)The Policy Value on the
rider anniversary;
3)The highest Policy Value on a rider monthiversarySM*; or 4)The current WB
immediately prior to
anniversary processing
increased by the growth rate
percentage**
* Item 3) is set to zero if there
have been any excess
withdrawals in the current
rider year.
** Item 4) is set to zero after
the first 10 years or if there
have been any withdrawals in
the current rider year.
A step-up will occur if the
largest value is either 2) or 3)
above. A step-up will allow us
to change the rider fee
percentage after the 1st rider
anniversary. ●If the largest value is 1) or 4) above, this is not considered a step-up. ●Owner will have a 30 day window after the rider anniversary to reject an automatic step-up if we increase the rider fee.—Must be in writing. ●If an Owner rejects an automatic step-up, they retain the right to all future automatic step-ups. NOTE: The withdrawal
percentage will also increase if
You have crossed into another
age band prior to an automatic
step-up after the election date. |
On each rider anniversary, the
WB will be set to the greatest
of:
1)The current WB: 2)The Policy Value on the
rider anniversary;
3)The highest Policy Value on a rider monthiversarySM*; or 4)The current WB
immediately prior to
anniversary processing
increased by the growth rate
percentage**
* Item 3) is set to zero if there
have been any excess
withdrawals in the current
rider year.
** Item 4) is set to zero after
the first 10 years or if there
have been any withdrawals in
the current rider year.
A step-up will occur if the
largest value is either 2) or 3)
above. A step-up will allow us
to change the rider fee
percentage after the 5th rider
anniversary. ●If the largest value is 1) or 4) above, this is not considered a step-up. ●Owner will have a 30 day
window after the rider
anniversary to reject an
automatic step-up if we
increase the rider
fee.—Must be in writing. ●If an Owner rejects an automatic step-up, they retain the right to all future automatic step-ups. NOTE: The withdrawal
percentage will also increase if
You have crossed into another
age band prior to an automatic
step-up after the election date. |
Exercising Rider |
No further action required to
exercise the rider. |
No further action required to
exercise the rider. |
Exercising Base Benefit: The policyholder is guaranteed to be able to withdraw up to the RWA each rider year even if the Policy Value does not reach zero as a result of an excess withdrawal. The rider benefits cease when the Annuitant2 has died. |
Exercising Base Benefit: The
policyholder is guaranteed to
be able to withdraw up to the
RWA each rider year even if
the Policy Value does not reach
zero as a result of an excess
withdrawal. The rider benefits
cease when the Annuitant2 has
died.
Exercising the Income
Enhancement Option:
If qualifications are met, this
optional feature doubles the
income benefit percentage
until the Annuitant2 is no
longer confined (either has left |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
|
|
|
|
the facility or deceased).
Qualifications:
–Confinement must be due to a medical necessity due to physical or cognitive ailment. –Must be the Annuitant2 who
is confined.
–Waiting period of 1 year from the rider date before the increase in the income benefit percentage is applicable. –Elimination period is 180
days within the last 12 months
which can be satisfied during
the waiting period.
–Proof of confinement is required. This may be a statement from a Physician or a hospital or nursing facility administrator. –Qualification standards can
be met again on the
Annuitant's2 life. |
Income Benefit or Other
Benefit Payout
Considerations |
N/A |
N/A |
Growth: Benefit is not elected separately but is built into the rider. The WB will grow annually. This will only be credited on the rider anniversary for up to 10 rider years. This is not added on top of a step-up if applicable. If a withdrawal has occurred in the current rider year growth will not be applied. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior Withdrawal/Growth Percentages and Rider Fees” in the Statement of Additional Information. NOTE: There is not an
adjustment or credit for partial
years of interest. Growth is not
accumulated daily. Only
calculated at the end of the
year if no withdrawals were
taken. |
Growth: Benefit is not elected separately but is built into the rider. The WB will grow annually. This will only be credited on the rider anniversary for up to 10 rider years. This is not added on top of a step-up if applicable. If a withdrawal has occurred in the current rider year growth will not be applied. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior Withdrawal/Growth Percentages and Rider Fees” in the Statement of Additional Information. NOTE: There is not an
adjustment or credit for partial
years of interest. Growth is not
accumulated daily. Only
calculated at the end of the
year if no withdrawals were
taken. |
Rider Upgrade |
N/A |
N/A |
N/A |
●Upgrades allowed within a
30-day window following
each successive 5th rider
anniversary. ●Rider availability and fees may vary at time of upgrade ●Upgrades are subject to issue age restrictions of the rider at the time of upgrade. Currently the maximum upgrade age is 85 years old. ●An upgrade will reset the WB and RDB. |
Rider Name |
Additional Death
Distribution32003 |
Additional Death
Distribution+3 |
Retirement Income Max®3
|
Retirement Income Choice®
1.63 |
Rider Form Number1 |
RTP 18 0103
ICC12 RTP 170513 |
RTP 17 0103
ICC12 RTP 180513 |
RGMB 41 0513
RGMB 41 0111 (NY) |
RGMB 37 0809 - (w/o IE)
RGMB 38 0809 - (with IE) |
|
|
|
|
●Rider Fee Percentage will be the fee percentage that applies to the new rider at the time of upgrade. ●Growth percentage will be the percentage available at the time of upgrade. |
Rider Termination |
The rider can be added or
dropped at any time. If the
rider is dropped and re-added,
the rider will only cover
earnings accumulated since the
rider was re-added.
The rider will remain in effect
until: ●You cancel it by notifying our Administrative Office in writing, ●the Policy is Annuitized or
surrendered, ●or the additional death benefit is paid. |
The rider can be added or
dropped at any time. If the
rider is terminated they must
wait one year to re-add rider.
The rider will remain in effect
until: ●You cancel it by notifying our Administrative Office in writing, ●the Policy is Annuitized or
surrendered, ●or the additional death benefit is paid. |
●The rider will be terminated upon Policy surrender, Annuitization, Annuitant2 death or upgrade. ●The date the Policy to which this rider is attached is assigned or if the Owner is changed without our approval. ●Termination allowed within
30 day window following
each successive 5th rider
anniversary. ●The rider will be terminated the date an excess withdrawal reduces Your Policy Value to zero, or we receive Written Notice from You requesting termination. ●After termination, there is no wait period to re-add the rider, assuming the rider is still being offered. |
●The rider will be terminated
upon Policy surrender,
Annuitization, Annuitant2
death or upgrade. ●The date the Policy to which this rider is attached is assigned or if the Owner is changed without our approval. ●Termination allowed within
30 day window following
each successive 5th rider
anniversary. ●The rider will be terminated the date an excess withdrawal reduces Your Policy Value to zero, or we receive Written Notice from You requesting termination. ●After termination, there is no wait period to re-add the rider, assuming the rider is still being offered. |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
Purpose of Rider |
This is a GLWB rider that guarantees
withdrawals for the Annuitant's2
lifetime, regardless of Policy Value. ●The policyholder can withdraw the RWA each rider year until the death of the Annuitant.2
●This benefit is intended to provide a
level of payments regardless of the
performance of the designated
variable Investment Options You
select. |
This is a GLWB rider that guarantees
withdrawals for the Annuitant's2
lifetime, regardless of Policy Value. ●The policyholder can withdraw the RWA each rider year until the death of the Annuitant.2
●This benefit is intended to provide a
level of payments regardless of the
performance of the designated
variable Investment Options You
select. |
This is a GLWB rider that guarantees
withdrawals for the Annuitant's2
lifetime, regardless of Policy Value. ●The policyholder can withdraw the RWA each rider year until the death of the Annuitant.2
●This benefit is intended to provide a
level of payments regardless of the
performance of the designated
Investment Options You select. |
Availability |
●Issue age 0-85, but not yet 86 years old (unless state law requires a lower maximum issue age). ●Single Annuitant ONLY. Annuitant must be an Owner (unless Owner is a non-natural person) ●Maximum of 2 living Joint Owners (with one being the Annuitant) ●Cannot be added to a Policy with other active GMLB riders. |
●Issue age 0-85, but not yet 86 years old (unless state law requires a lower maximum issue age). ●Single Annuitant ONLY. Annuitant must be an Owner (unless Owner is a non-natural person) ●Maximum of 2 living Joint Owners (with one being the Annuitant) ●Cannot be added to a Policy with other active GMLB riders. |
●Issue age 0-85, but not yet 86 years
old (unless state law requires a lower
maximum issue age). ●Single Annuitant ONLY. Annuitant must be an Owner (unless Owner is a non-natural person) ●Maximum of 2 living Joint Owners (with one being the Annuitant) ●Cannot be added to a Policy with other active GMLB riders. |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
|
●Not available on qualified annuity which has been continued by surviving spouse or beneficiary as a new Owner. |
●Not available on qualified annuity which has been continued by surviving spouse or beneficiary as a new Owner. |
●Not available on qualified annuity which has been continued by surviving spouse or beneficiary as a new Owner. |
Base Benefit and Optional Fees at
issue |
Rider Fees: Single Life1.50%
Joint Life1.60% For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Withdrawal/Growth Percentages and
Rider Fees” in the Statement of
Additional Information. |
Fee based on designated allocation
groups and the optional benefits
selected. If You elect a combination of
designated allocations from among the
various groups below, then Your fee will
be based on a weighted average of Your
choices.
Rider Fees: Single Life Group A1.85%
Group B1.40% Group C0.95%
Joint Life
Group A1.95% Group B1.50%
Group C1.05% For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Withdrawal/Growth Percentages and
Rider Fees” in the Statement of
Additional Information. |
We use the withdrawal base to calculate
the rider withdrawal amount and the
rider fee. The withdrawal base on the
rider date is the Policy Value.
Rider Fees: Single Life1.45%
Joint Life1.55% For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Allocation/Withdrawal Percentages and
Rider Fees” in the Statement of
Additional Information. |
Fee Frequency |
●The fee is calculated at issue and each subsequent rider quarter for the upcoming quarter based on the fund values and WB at that point in time and stored. ●Deducted at each rider quarterversary in arrears during the accumulation phase. ●The fee is calculated on a quarterly basis. ●A rider fee adjustment will be
applied for subsequent premium
payments and withdrawals that
change the withdrawal base. ●The base rider fee adjustment will be calculated using the same formula as the base rider fee. ●The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated. ●A pro-rated fee is deducted at the time the rider is terminated or upgraded. |
●The fee is calculated at issue and each subsequent rider quarter for the upcoming quarter based on the fund values and WB at that point in time and stored. ●Deducted at each rider quarterversary in arrears during the accumulation phase. ●The fee is calculated on a quarterly basis and varies depending on the fund allocation option You have chosen. ●A rider fee adjustment will be
applied for transfers between
allocation groups and for subsequent
premium payments and withdrawals
that change the withdrawal base. ●The base rider fee adjustment will be calculated using the same formula as the base rider fee. ●The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated. ●A pro-rated fee is deducted at the time the rider is terminated or upgraded. |
●The fee is calculated at issue and each subsequent rider quarter for the upcoming quarter ●Deducted at each rider quarter and will be deducted automatically from the flexible Investment Options and the select Investment Options on a pro-rata basis at the end of each rider quarter. ●The fee is calculated and stored at
issue and at each subsequent rider
quarter for the upcoming quarter. ●A rider fee adjustment will be applied for any premium additions and excess withdrawals that change the withdrawal base. ●The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be collected. ●A pro-rated fee is deducted at the time the rider is terminated. |
Death Benefit |
N/A |
N/A |
N/A |
Designated Investment Options
Available - Policyholders who add these riders may only invest in the Investment Options listed. Investment Options may not be available as a designated fund based on rider issue date. |
For a list of designated funds for this
rider, please reference the Appendix Designated Investment Options.
|
For a list of designated funds for this
rider, please reference the Appendix Designated Investment Options.
|
For a list of Select and Flexible Investment Option, please reference the Appendix - Transamerica Income EdgeSM Investment Options. |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
Requiring that You designate 100% of
Your Policy Value to the designated
Investment Options, some of which
employ strategies that are intended to
reduce the risk of loss and/or manage
volatility, may reduce investment
returns and may reduce the likelihood
that we will be required to use our own
assets to pay amounts due under this
benefit.
PLEASE NOTE: These Investment Options may not be available on all products, may vary for certain policies and may not be available for all policies. Please reference Appendix -
Portfolio Companies Available Under
the Policy in Your prospectus for available funds. You cannot transfer any amount to any other non-designated Subaccount without losing all Your benefits under this rider. |
|
|
|
Allocation Methods |
N/A |
N/A |
Required Allocations: A certain percentage of Your Policy Value on the rider date must be allocated to the Stable Account, the select and the flexible Investment Options as specified in the applicable Rate Sheet Prospectus Supplement. Stable Account: ●This is a Fixed Account option. ●Allocations applied to the Stable Account will be credited interest based on a fixed rate. ●Withdrawals from the Stable Account are not permitted until all over Investment Options are depleted of value. Flexible and Select Options: ●You must allocate certain percentages of Your premium payments and Policy Value to these Investment Options. ●If You do not wish to maintain the
required allocation percentages the
rider must be terminated. ●Withdrawals from the flexible and select Investment Options will be deducted on a pro-rated basis from each Investment Option that You have allocated to. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Allocation/Withdrawal Percentages
and Rider Fees” in the Statement of
Additional Information. |
Withdrawal Benefits - See Hypothetical Adjusted Withdrawals - Guaranteed Lifetime Withdrawal Benefit Riders appendix for examples
showing the effect of withdrawals on
the WB. |
The percentage is determined by the
attained age of the Annuitant2 at the
time of the first withdrawal.
For riders issued prior to the date of
this prospectus, please reference the
“Appendix – Prior Withdrawal/Growth Percentages and |
The percentage is determined by the
attained age of the Annuitant2 at the
time of the first withdrawal.
For riders issued prior to the date of
this prospectus, please reference the
“Appendix – Prior |
The withdrawal percentage is determined by the attained age of the Annuitant2 at the time of the first withdrawal. Single Life Riders Age 1st WD during Rider Years |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
|
Rider Fees” in the Statement of
Additional Information. ●Starting the rider anniversary following the Annuitant's259th birthday, the withdrawal percentage increases above 0% which creates a RWA available under the rider for withdrawal. ●On each rider anniversary, the RWA will be reset equal to the greater of: 1)The WB multiplied by the
withdrawal percentage based on
the attained age of the
Annuitant2 at the time of their
first withdrawal if applicable, and
2)The RMD amount for this Policy for the current calendar year. ●The policyholder does not have to take the entire RWA in any year. ●If they do not take the full amount available, the remaining portion does not carry over to the next rider year. |
Withdrawal/Growth Percentages and
Rider Fees” in the Statement of
Additional Information. ●Starting the rider anniversary following the Annuitant's259th birthday, the withdrawal percentage increases above 0% which creates a RWA available under the rider for withdrawal. ●On each rider anniversary, the RWA will be reset equal to the greater of: 1)The WB multiplied by the
withdrawal percentage based on
the attained age of the
Annuitant2 at the time of their
first withdrawal if applicable, and
2)The RMD amount for this Policy for the current calendar year. ●The policyholder does not have to take the entire RWA in any year. ●If they do not take the full amount available, the remaining portion does not carry over to the next rider year. |
1-5Single Life WD% 0 - 580.00%
59-643.75% 65-805.00%
81 +5.50% Joint Life Riders Age 1st WD during Rider Years 1-5Joint Life
WD% 0 - 580.00% 59-643.25%
65-804.50% 81 +5.00%
Single Life Riders
Age 1st WD during Rider Years
6-10Single Life WD% 0 - 580.00%
59-644.25% 65-805.50%
81 +6.00% Joint Life Riders Age 1st WD during Rider Years 6-10Joint Life
WD% 0 - 580.00% 59-643.75%
65-805.00% 81 +5.50%
Single Life Riders
Age 1st WD during Rider Years
11+Single Life WD% 0 - 580.00%
59-644.75% 65-806.00%
81 +6.50% Joint Life Riders Age 1st WD during Rider Years 11+Joint Life
WD% 0 - 580.00% 59-644.25%
65-805.50% 81 +6.00%
For riders issued prior to the date of
this prospectus, please reference the
“Appendix – Prior Allocation/Withdrawal Percentages and Rider Fees” in the Statement of Additional Information. |
Automatic Step-Up Benefit |
On each rider anniversary, the WB will
be set to the greatest of:
1)The current WB: 2)The Policy Value on the rider
anniversary;
3)The highest Policy Value on a rider monthiversarySM*; or 4)The current WB immediately prior
to anniversary processing increased
by the growth rate percentage**
* Item 3) is set to zero if there have
been any excess withdrawals in the
current rider year.
** Item 4) is set to zero after the first 10
years or if there have been any
withdrawals in the current rider year.
A step-up will occur if the largest value
is either 2) or 3) above. A step-up will
allow us to change the rider fee
percentage after the 1st rider
anniversary. |
On each rider anniversary, the WB will
be set to the greatest of:
1)The current WB: 2)The Policy Value on the rider
anniversary;
3)The highest Policy Value on a rider monthiversarySM*; or 4)The current WB immediately prior
to anniversary processing increased
by the growth rate percentage**
* Item 3) is set to zero if there have
been any excess withdrawals in the
current rider year.
** Item 4) is set to zero after the first 10
years or if there have been any
withdrawals in the current rider year.
A step-up will occur if the largest value
is either 2) or 3) above. A step-up will
allow us to change the rider fee
percentage after the 5th rider
anniversary. |
On each rider anniversary, the rider will receive an automatic step-up if the WB is equal to the Policy Value on the rider anniversary immediately after the WB reset on the rider anniversary. ●If the Policy Value is not greater than the current WB no automatic step-up will occur ●The withdrawal percentage will also increase if You have crossed into another age band or rider year duration prior to the step-up. ●The rider fee percentage may increase or decrease at the time of the step-up. ●Owner will have a 30 day window
after the rider anniversary to reject
an automatic step-up if the rider fee
increased. |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
|
●If the largest value is 1) or 4) above, this is not considered a step-up. ●Owner will have a 30 day window after the rider anniversary to reject an automatic step-up if we increase the rider fee.—Must be in writing. ●If an Owner rejects an automatic step-up, they retain the right to all future automatic step-ups. NOTE: The benefit percentage will
also increase if You have crossed into
another age band prior to an automatic
step-up after the election date. |
●If the largest value is 1) or 4) above, this is not considered a step-up. ●Owner will have a 30 day window after the rider anniversary to reject an automatic step-up if we increase the rider fee.—Must be in writing. ●If an Owner rejects an automatic step-up, they retain the right to all future automatic step-ups. NOTE: The benefit percentage will
also increase if You have crossed into
another age band prior to an automatic
step-up after the election date. |
●If an Owner rejects an automatic step-up, they retain the right to all future automatic step-ups. |
Exercising Rider |
Exercising Base Benefit: The policyholder is guaranteed to be able to withdraw up to the RWA each rider year if the Policy Value does not reach zero as a result of an excess withdrawal. The rider benefits cease when the Annuitant2 has died. |
Exercising Base Benefit: The policyholder is guaranteed to be able to withdraw up to the RWA each rider year if the Policy Value does not reach zero as a result of an excess withdrawal. The rider benefits cease when the Annuitant2 has died. |
Exercising Base Benefit: The policyholder is guaranteed to be able to withdraw up to the RWA each rider year (after the attainment of the minimum benefit age) without causing an excess withdrawal, even if the Policy Value is zero at the time of withdrawal. The rider benefits cease when the Annuitant2 has died. |
Income Benefit or Other Benefit
Payout Considerations |
Growth: Benefit is not elected separately but is built into the rider. The WB will grow annually. This will only be credited on the rider anniversary for up to 10 rider years. This is not added on top of a step-up if applicable. If a withdrawal has occurred in the current rider year growth will not be applied. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Withdrawal/Growth Percentages and
Rider Fees” in the Statement of
Additional Information.
NOTE: There is not an adjustment or credit for partial years of interest. Growth is not accumulated daily. Only calculated at the end of the year if no withdrawals were taken. |
Growth: Benefit is not elected separately but is built into the rider. The WB will grow annually. This will only be credited on the rider anniversary for up to 10 rider years. This is not added on top of a step-up if applicable. If a withdrawal has occurred in the current rider year growth will not be applied. For riders issued prior to the date of this prospectus, please reference the “Appendix – Prior
Withdrawal/Growth Percentages and
Rider Fees” in the Statement of
Additional Information.
NOTE: There is not an adjustment or credit for partial years of interest. Growth is not accumulated daily. Only calculated at the end of the year if no withdrawals were taken. |
N/A |
Rider Upgrade |
N/A |
This rider is no longer sold, upgrades
are no longer available. |
This rider is no longer sold, upgrades
are no longer available. |
Rider Termination |
●The rider will be terminated upon Policy surrender, Annuitization, Annuitant2 death or upgrade. ●The date the Policy to which this rider is attached is assigned or if the Owner is changed without our approval. ●Termination allowed within 30 day
window following each successive 5th
rider anniversary. ●The rider will be terminated the date an excess withdrawal reduces Your |
●The rider will be terminated upon Policy surrender, Annuitization, Annuitant2 death or upgrade. ●The date the Policy to which this rider is attached is assigned or if the Owner is changed without our approval. ●Termination allowed within 30 day
window following each successive 5th
rider anniversary. ●The rider will be terminated the date an excess withdrawal reduces Your |
●The rider will be terminated upon
Policy surrender, Annuitization,
Annuitant2 death or upgrade. ●The date the Policy to which this rider is attached is assigned or if the Owner is changed without our approval. ●Termination allowed within 30 day
window following each successive 5th
rider anniversary. ●The rider will be terminated the date an excess withdrawal reduces Your |
Rider Name |
Retirement Income Max®2.03 |
Retirement Income Choice®2.03 |
Transamerica Income EdgeSM3 |
Rider Form Number1 |
RGMB 50 0515
Single and Joint Life |
RGMB 48 0515
Single and Joint Life |
RGMB 51 0616 |
|
Policy Value to zero, or we receive
Written Notice from You requesting
termination. |
Policy Value to zero, or we receive
Written Notice from You requesting
termination. |
Policy Value to zero, or we receive Written Notice from You requesting termination. |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
To maximize total return consistent
with the Adviser's determination of
reasonable risk. |
AB Balanced Hedged Allocation
Portfolio - Class B
Advised by: AllianceBernstein L.P.
|
0.99% |
0.20% |
1.19% |
12.66% |
5.92% |
5.04% |
Long-term growth of capital. |
AB Relative Value Portfolio - Class B
Advised by: AllianceBernstein L.P.
|
0.87% |
- |
0.87% |
11.72% |
11.57% |
9.05% |
To provide high total return (including
income and capital gains) consistent
with preservation of capital over the
long term. |
American Funds - Asset
Allocation FundSM - Class 2
Advised by: Capital Research and
Management CompanySM |
0.55% |
0.30% |
0.85% |
14.27% |
9.20% |
7.25% |
To provide growth of capital. |
American Funds - Growth FundSM -
Class 2
Advised by: Capital Research and
Management CompanySM |
0.59% |
0.30% |
0.89% |
38.49% |
18.68% |
14.36% |
To achieve long-term growth of capital
and income. |
American Funds - Growth-Income
FundSM - Class 2
Advised by: Capital Research and
Management CompanySM |
0.53% |
0.30% |
0.83% |
26.14% |
13.36% |
10.91% |
To achieve long-term growth of capital. |
American Funds - International
FundSM - Class 2
Advised by: Capital Research and
Management CompanySM |
0.78% |
0.30% |
1.08% |
15.84% |
4.83% |
3.41% |
To provide as high a level of current
income as is consistent with the
preservation of capital. |
American Funds - The Bond Fund of
AmericaSM - Class 2
Advised by: Capital Research and
Management CompanySM |
0.63% |
0.30% |
0.93% |
5.02% |
1.89% |
2.08% |
Seeks income and capital growth
consistent with reasonable risk. |
Fidelity® VIP Balanced Portfolio -
Service Class 2
Advised by: Fidelity Management &
Research Company |
0.69% |
- |
0.69% |
21.29% |
12.16% |
8.81% |
Seeks long-term capital appreciation. |
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
Advised by: Fidelity Management &
Research Company |
0.81% |
- |
0.81% |
33.12% |
16.36% |
11.33% |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
Seeks long-term growth of capital. |
Fidelity® VIP Mid Cap Portfolio -
Service Class 2
Advised by: Fidelity Management &
Research Company |
0.82% |
- |
0.82% |
14.80% |
12.17% |
7.85% |
Seeks capital appreciation. |
Fidelity® VIP Value Strategies Portfolio
- Service Class 2
Advised by: Fidelity Management &
Research Company |
0.85% |
- |
0.85% |
20.61% |
16.63% |
9.10% |
The highest total return, composed of
current income and capital
appreciation, as is consistent with
prudent investment risk. |
State Street Total Return V.I.S. Fund -
Class 3
Advised by: SSGA Funds Management,
Inc. |
0.90% |
0.20% |
1.10% |
15.21% |
5.90% |
4.66% |
Seeks long-term capital appreciation
and current income. |
Transamerica 60/40 Allocation VP -
Service Class
Advised by: Transamerica Asset
Management, Inc. |
0.90% |
- |
0.90% |
15.95% |
8.88% |
N/A |
Seeks maximum total return consistent
with preservation of capital and
prudent investment management. |
Transamerica Aegon Bond VP –
Service Class
Sub-Advised by: Aegon USA Investment
Management, LLC |
0.78% |
- |
0.78% |
6.18% |
0.73% |
1.44% |
Seeks total return, consisting of current
income and capital appreciation. |
Transamerica Aegon Core Bond VP -
Service Class
Sub-Advised by: Aegon USA Investment
Management, LLC |
0.75% |
- |
0.75% |
5.78% |
1.06% |
1.60% |
Seeks a high level of current income by
investing in high-yield debt securities. |
Transamerica Aegon High Yield Bond
VP - Service Class
Sub-Advised by: Aegon USA Investment
Management, LLC |
0.90% |
- |
0.90% |
10.87% |
4.47% |
4.00% |
Seeks total return gained from the
combination of dividend yield, growth
of dividends and capital appreciation. |
Transamerica Aegon Sustainable Equity
Income VP - Service Class
Sub-Advised by: Aegon Asset
Management UK plc (“AAM”) |
0.98% |
- |
0.98% |
6.00% |
5.44% |
5.13% |
Seeks to provide as high a level of total
return as is consistent with prudent
investment strategies. |
Transamerica Aegon U.S. Government
Securities VP - Service Class
Sub-Advised by: Aegon USA Investment
Management, LLC |
0.83% |
- |
0.83% |
3.69% |
0.25% |
0.79% |
Seeks to provide total return (including
income and capital gains) consistent
with preservation of capital over the
long term while seeking to manage
volatility and provide downside
protection. |
Transamerica American Funds
Managed Risk VP - Service Class
Sub-Advised by: Milliman Financial
Risk Management LLC |
1.10% |
- |
1.10% |
10.39% |
6.32% |
N/A |
Seeks as high a level of current income
as is consistent with preservation of
capital and liquidity. |
Transamerica BlackRock Government
Money Market VP - Service Class(2)
Sub-Advised by: BlackRock Investment
Management, LLC |
0.54% |
- |
0.54% |
4.66% |
1.58% |
0.87% |
Seeks current income and preservation
of capital. |
Transamerica BlackRock iShares Active
Asset Allocation - Conservative VP -
Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.92% |
- |
0.92% |
9.96% |
3.16% |
2.79% |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
Seeks capital appreciation and current
income. |
Transamerica BlackRock iShares Active
Asset Allocation - Moderate VP -
Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.88% |
- |
0.88% |
13.37% |
3.15% |
2.73% |
Seeks capital appreciation with current
income as secondary objective. |
Transamerica BlackRock iShares Active
Asset Allocation - Moderate Growth
VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.91% |
- |
0.91% |
17.62% |
2.43% |
2.30% |
Seeks capital appreciation and income. |
Transamerica BlackRock iShares
Dynamic Allocation - Balanced VP -
Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.89% |
- |
0.89% |
12.66% |
3.61% |
3.01% |
Seeks capital appreciation and income. |
Transamerica BlackRock iShares
Dynamic Allocation - Moderate
Growth VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.89% |
- |
0.89% |
17.28% |
4.96% |
3.63% |
Seeks long term capital appreciation
and capital preservation. |
Transamerica BlackRock iShares Edge
40 VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.71% |
- |
0.71% |
9.07% |
4.46% |
3.37% |
Seeks long-term capital appreciation
and capital preservation. |
Transamerica BlackRock iShares Edge
50 VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.69% |
- |
0.69% |
9.79% |
5.19% |
N/A |
Seeks long-term capital appreciation
and capital preservation as a secondary
objective. |
Transamerica BlackRock iShares Edge
75 VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.73% |
- |
0.73% |
12.09% |
7.36% |
N/A |
Seeks long-term capital appreciation. |
Transamerica BlackRock iShares Edge
100 VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
0.81% |
- |
0.81% |
14.47% |
9.34% |
N/A |
Seeks a combination of capital
appreciation and income. |
Transamerica BlackRock iShares
Tactical - Balanced VP - Service Class(3)
Sub-Advised by: Pacific Investment
Management Company LLC |
0.89% |
|
0.89% |
10.66% |
4.27% |
3.59% |
Seeks a combination of capital
appreciation and income. |
Transamerica BlackRock iShares
Tactical - Conservative VP - Service
Class(4)
Sub-Advised by: Pacific Investment
Management Company LLC |
0.92% |
|
0.92% |
7.24% |
3.61% |
3.40% |
Seeks a combination of capital
appreciation and income. |
Transamerica BlackRock iShares
Tactical - Growth VP - Service Class(5)
Sub-Advised by: Pacific Investment
Management Company LLC |
0.93% |
|
0.93% |
13.94% |
6.23% |
4.44% |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
Seeks to maximize total return. |
Transamerica BlackRock Real Estate
Securities VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
1.15% |
- |
1.15% |
13.15% |
4.85% |
3.59% |
Seeks capital appreciation with current
income as a secondary objective. |
Transamerica BlackRock Tactical
Allocation VP - Service Class
Sub-Advised by: BlackRock Investment
Management, LLC |
1.02% |
- |
1.02% |
14.88% |
6.54% |
4.90% |
Seeks to balance capital appreciation
and income. |
Transamerica Goldman Sachs Managed
Risk - Balanced ETF VP - Service Class
Sub-Advised by: Goldman Sachs Asset
Management, L.P. |
0.64% |
- |
0.64% |
13.20% |
5.04% |
3.97% |
Seeks current income and preservation
of capital. |
Transamerica Goldman Sachs Managed
Risk - Conservative ETF VP - Service
Class
Sub-Advised by: Goldman Sachs Asset
Management, L.P. |
0.66% |
- |
0.66% |
10.59% |
3.35% |
3.22% |
Seeks capital appreciation as a primary
objective and income as a secondary
objective. |
Transamerica Goldman Sachs Managed
Risk - Growth ETF VP - Service Class
Sub-Advised by: Goldman Sachs Asset
Management, L.P. |
0.67% |
- |
0.67% |
17.68% |
7.38% |
5.13% |
Seeks long-term capital appreciation. |
Transamerica Great Lakes Advisors
Large Cap Value VP - Service Class(6)
Sub-Advised by: Great Lakes Advisors
LLC |
0.97% |
- |
0.97% |
12.78% |
9.66% |
N/A |
Seeks long-term capital appreciation. |
Transamerica International Focus VP -
Service Class
Sub-Advised by: Epoch Investment
Partners, Inc. |
1.10% |
- |
1.10% |
12.27% |
8.75% |
4.09% |
Seeks long-term capital growth,
consistent with preservation of capital
and balanced by current income. |
Transamerica Janus Balanced VP -
Service Class
Sub-Advised by: Janus Henderson
Investors US LLC |
0.99% |
- |
0.99% |
15.01% |
9.00% |
7.27% |
Seeks long-term capital appreciation. |
Transamerica Janus Mid-Cap Growth
VP - Service Class
Sub-Advised by: Janus Henderson
Investors US LLC |
1.11% |
- |
1.11% |
16.80% |
12.97% |
7.98% |
Seeks current income and preservation
of capital. |
Transamerica JPMorgan Asset
Allocation - Conservative VP –
Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
0.99% |
- |
0.99% |
6.83% |
3.76% |
3.04% |
Seeks current income and preservation
of capital. |
Transamerica JPMorgan Asset
Allocation - Growth VP – Service
Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.11% |
- |
1.11% |
20.00% |
11.61% |
7.40% |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
Seeks capital appreciation and current
income. |
Transamerica JPMorgan Asset
Allocation - Moderate VP – Service
Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.02% |
- |
1.02% |
8.86% |
5.31% |
4.13% |
Seeks capital appreciation with current
income as a secondary objective. |
Transamerica JPMorgan Asset
Allocation - Moderate Growth VP –
Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.08% |
- |
1.08% |
11.93% |
7.59% |
5.41% |
Seeks to earn a total return modestly in
excess of the total return performance
of the S&P 500® (including the
reinvestment of dividends) while
maintaining a volatility of return
similar to the S&P 500®. |
Transamerica JPMorgan Enhanced
Index VP – Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
0.87% |
- |
0.87% |
27.39% |
16.10% |
11.67% |
Seeks capital appreciation with current
income as a secondary objective. |
Transamerica JPMorgan International
Moderate Growth VP – Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.14% |
- |
1.14% |
8.70% |
5.68% |
3.33% |
Seeks current income and preservation
of capital. |
Transamerica JPMorgan Tactical
Allocation VP - Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.02% |
- |
1.02% |
8.57% |
3.90% |
3.44% |
Seeks high total return through the
combination of income and capital
appreciation. |
Transamerica Madison Diversified
Income VP - Service Class
Sub-Advised by: Madison Asset
Management. LLC |
1.08% |
- |
1.08% |
3.97% |
4.51% |
4.38% |
Seeks capital appreciation. |
Transamerica Market Participation
Strategy VP - Service Class
Sub-Advised by: PGIM Quantitative
Solutions LLC |
0.98% |
- |
0.98% |
11.55% |
9.06% |
6.12% |
Seeks high total return.. |
Transamerica Morgan Stanley Global
Allocation VP - Service Class
Sub-Advised by: Morgan Stanley
Investment Management Inc. |
1.28% |
- |
1.28% |
13.69% |
7.12% |
4.51% |
Seeks to provide capital appreciation
and income while seeking to manage
volatility. |
Transamerica Morgan Stanley Global
Allocation Managed Risk - Balanced
VP - Service Class
Sub-Advised by: Milliman Financial
Risk Management LLC |
1.45% |
- |
1.45% |
9.00% |
3.64% |
N/A |
Seeks to track the investment results of
an index composed of large- and
mid-capitalization developed market
equities, excluding the U.S. and
Canada. |
Transamerica MSCI EAFE Index VP -
Service Class
Sub-Advised by: SSGA Funds
Management, Inc. |
0.61% |
0.15% |
0.76% |
17.46% |
7.80% |
N/A |
Seeks to provide a high total
investment return through investments
in a broadly diversified portfolio of
stock, bonds and money market
instruments. |
Transamerica Multi-Managed Balanced
VP – Service Class
Sub-Advised by: J.P. Morgan
Investment Management Inc. and Aegon
USA Investment Management, LLC |
0.89% |
- |
0.89% |
18.44% |
10.16% |
7.75% |
Investment Objective |
Underlying Fund Portfolio and
Adviser/Sub-adviser (1) |
Current
Expenses |
Platform
Charges |
Current
Expenses
Plus
Platform
Charges |
Average Annual Total Returns
(as of 12/31/23) | ||
1 year |
5 years |
10 years | |||||
Seeks maximum real return, consistent
with appreciation of capital. |
Transamerica PineBridge Inflation
Opportunities VP - Service Class
Sub-Advised by: PineBridge
Investments LLC |
0.78% |
- |
0.78% |
5.44% |
2.87% |
2.00% |
Seeks to provide investment results
that, before expenses, correspond
generally to the price and yield
performance of the S&P 500® Index. |
Transamerica S&P 500 Index VP -
Service Class
Sub-Advised by: SSGA Funds
Management, Inc. |
0.39% |
0.15% |
0.54% |
25.73% |
15.20% |
N/A |
Seeks to maximize total return. |
Transamerica Small/Mid Cap Value VP
– Service Class Sub-Advised by: Systematic Financial Management L.P. & Thompson, Siegel & Walmsley LLC |
1.07% |
- |
1.07% |
12.15% |
11.19% |
7.88% |
Seeks long-term growth of capital by
investing primarily in common stocks
of small growth companies. |
Transamerica T. Rowe Price Small Cap
VP – Service Class
Sub-Advised by: T. Rowe Price
Associates, Inc. |
1.09% |
- |
1.09% |
20.88% |
11.15% |
8.74% |
Seeks maximum long-term total return,
consistent with reasonable risk to
principal, by investing in a diversified
portfolio of common stocks of
primarily non-U.S. issuers. |
Transamerica TS&W
International Equity VP – Service
Class
Sub-Advised by: Thompson, Siegel &
Walmsley LLC |
1.11% |
- |
1.11% |
15.26% |
7.39% |
3.59% |
Seeks growth from capital appreciation. |
Transamerica TS&W Mid Cap Value
Opportunities VP–Service Class(7)
Sub-Advised by: J.P. Morgan
Investment Management Inc. |
1.02% |
- |
1.02% |
10.57% |
10.68% |
7.74% |
Seeks to maximize long-term growth. |
Transamerica WMC US Growth VP –
Service Class(8)
Sub-Advised by: Wellington
Management Company, LLP |
0.91% |
- |
0.91% |
41.72% |
17.45% |
13.31% |
|
Return
of Premium
Death
Benefit |
Annual
Step-Up
Death
Benefit |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Subaccounts |
|
|
Prior to
2/1/18 |
2/1/18 to
1/30/20 |
After 1/31/20 |
Prior to
2/28/18 |
3/1/18 to
8/31/20 |
9/1/20
and After
Group A, B
or C |
AB Balanced Hedged Allocation Portfolio - Class B |
√ |
√ |
|
|
|
A |
A |
B |
AB Relative Value Portfolio - Class B |
√ |
√ |
|
|
|
|
A |
A |
American Funds - Asset Allocation FundSM - Class 2 |
√ |
√ |
|
|
|
|
A |
B |
American Funds - The Bond Fund of AmericaSM -
Class 2 |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
American Funds - Growth FundSM - Class 2 |
√ |
√ |
|
|
|
|
A |
A |
American Funds - Growth-Income FundSM - Class 2 |
√ |
√ |
|
|
|
|
A |
A |
American Funds - International FundSM - Class 2 |
√ |
√ |
|
|
|
|
A |
A |
Fidelity® VIP Balanced Portfolio - Service
Class 2 |
√ |
√ |
|
|
|
|
A |
B |
Fidelity® VIP Contrafund® Portfolio - Service Class
2 |
√ |
√ |
|
|
|
|
A |
A |
Fidelity® VIP Mid Cap Portfolio - Service
Class 2 |
√ |
√ |
|
|
|
|
A |
A |
Fidelity® VIP Value Strategies Portfolio -
Service Class 2 |
√ |
√ |
|
|
|
|
A |
A |
State Street Total Return V.I.S. Fund - Class 3 |
√ |
√ |
|
|
|
A |
A |
B |
TA 60/40 Allocation - Service Class |
√ |
√ |
|
|
|
A |
A |
B |
TA Aegon Bond - Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
TA Aegon Core Bond - Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
TA Aegon High Yield Bond - Service Class |
√ |
√ |
|
|
|
|
A |
B |
TA Aegon Sustainable Equity Income - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA Aegon U.S. Government Securities - Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
TA American Funds Managed Risk - Balanced -
Service Class(1) |
√ |
√ |
|
√ |
√ |
B |
A |
B |
TA BlackRock Government Money Market - Service
Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
TA BlackRock iShares Active Asset Allocation -
Conservative - Service Class(1) |
√ |
√ |
√ |
√ |
√ |
C |
A |
B |
TA BlackRock iShares Active Asset Allocation -
Moderate - Service Class(1) |
√ |
√ |
√ |
√ |
√ |
B |
A |
B |
TA BlackRock iShares Active Asset Allocation -
Moderate Growth - Service Class(1) |
√ |
√ |
|
|
|
A |
A |
B |
TA BlackRock iShares Dynamic Allocation - Balanced
- Service Class |
√ |
√ |
√ |
√ |
√ |
B |
A |
B |
TA BlackRock iShares Dynamic Allocation -
Moderate Growth - Service Class(1) |
√ |
√ |
|
|
|
A |
A |
B |
TA BlackRock iShares Edge 40- Service Class |
√ |
√ |
|
√ |
√ |
C |
A |
B |
TA BlackRock iShares Edge 50 - Service Class |
√ |
√ |
|
√ |
√ |
B |
A |
B |
|
Return
of Premium
Death
Benefit |
Annual
Step-Up
Death
Benefit |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Subaccounts |
|
|
Prior to
2/1/18 |
2/1/18 to
1/30/20 |
After 1/31/20 |
Prior to
2/28/18 |
3/1/18 to
8/31/20 |
9/1/20
and After
Group A, B
or C |
TA BlackRock iShares Edge 75 - Service Class |
√ |
√ |
|
|
|
A |
A |
B |
TA BlackRock iShares Edge 100 - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA BlackRock iShares Tactical - Balanced - Service
Class |
√ |
√ |
|
|
|
B |
A |
B |
TA BlackRock iShares Tactical - Conservative -
Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
B |
TA BlackRock iShares Tactical - Growth - Service
Class |
√ |
√ |
|
|
|
A |
A |
B |
TA BlackRock Real Estate Securities - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA BlackRock Tactical Allocation - Service Class |
√ |
√ |
|
|
|
B |
A |
B |
TA Goldman Sachs Managed Risk - Balanced ETF -
Service Class(1) |
√ |
√ |
√ |
√ |
√ |
B |
A |
B |
TA Goldman Sachs Managed Risk - Conservative
ETF - Service Class(1) |
√ |
√ |
√ |
√ |
√ |
C |
A |
B |
TA Goldman Sachs Managed Risk - Growth ETF -
Service Class(1) |
√ |
√ |
|
|
|
A |
A |
B |
TA Great Lakes Advisors Large Cap Value - Service
Class |
√ |
√ |
|
|
|
|
A |
A |
TA International Focus - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA Janus Balanced - Service Class |
√ |
√ |
|
|
|
A |
A |
B |
TA Janus Mid-Cap Growth - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA JPMorgan Asset Allocation - Conservative -
Service Class(1) |
√ |
√ |
√ |
√ |
√ |
C |
A |
B |
TA JPMorgan Asset Allocation - Growth - Service
Class |
√ |
√ |
|
|
|
|
A |
A |
TA JPMorgan Asset Allocation - Moderate - Service
Class(1) |
√ |
√ |
|
√ |
√ |
B |
A |
B |
TA JPMorgan Asset Allocation - Moderate Growth -
Service Class(1) |
√ |
√ |
|
|
|
A |
A |
B |
TA JPMorgan Enhanced Index - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA JPMorgan International Moderate Growth -
Service Class(1) |
√ |
√ |
|
|
|
A |
A |
B |
TA JPMorgan Tactical Allocation - Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
B |
TA Madison Diversified Income - Service Class |
√ |
√ |
√ |
√ |
√ |
B |
A |
B |
TA Market Participation Strategy - Service Class |
√ |
√ |
|
|
|
B |
A |
B |
TA Morgan Stanley Global Allocation - Service Class
|
√ |
√ |
|
|
|
A |
A |
B |
TA Morgan Stanley Global Allocation Managed Risk
- Balanced - Service Class(1) |
√ |
√ |
|
√ |
√ |
B |
A |
B |
TA MSCI EAFE Index - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA Multi-Managed Balanced - Service Class |
√ |
√ |
|
|
|
A |
A |
B |
TA PineBridge Inflation Opportunities - Service Class |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
TA S&P 500 Index - Service Class |
√ |
√ |
|
|
|
|
A |
A |
|
Return
of Premium
Death
Benefit |
Annual
Step-Up
Death
Benefit |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Max® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Retirement
Income
Choice® 2.0 Rider |
Subaccounts |
|
|
Prior to
2/1/18 |
2/1/18 to
1/30/20 |
After 1/31/20 |
Prior to
2/28/18 |
3/1/18 to
8/31/20 |
9/1/20
and After
Group A, B
or C |
TA Small Mid Cap Value - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA T. Rowe Price Small Cap - Service Class |
√ |
√ |
|
|
|
|
A |
A |
TA TS&W International Equity - Service Class
|
√ |
√ |
|
|
|
|
A |
A |
TA TS&W Mid Cap Value Opportunities - Service
Class |
√ |
√ |
|
|
|
|
A |
A |
TA WMC US Growth - Service Class |
√ |
√ |
|
|
|
|
A |
A |
Fixed Account |
√ |
√ |
√ |
√ |
√ |
C |
A |
C |
|
Select
Investment
Options |
Select
Investment
Options |
Flexible
Investment
Options |
Flexible
Investment
Options |
Subaccounts |
Before 1/31/20 |
Post 1/31/20 |
Before 1/31/20 |
Post 1/31/20 |
AB Balanced Hedged Allocation Portfolio - Class B |
|
|
√ |
√ |
AB Relative Value Portfolio - Class B |
|
|
√ |
√ |
American Funds - Asset Allocation FundSM - Class 2 |
|
|
√ |
√ |
American Funds - The Bond Fund of AmericaSM - Class 2 |
√ |
√ |
|
|
American Funds - Growth FundSM - Class 2 |
|
|
√ |
√ |
American Funds - Growth-Income FundSM - Class 2 |
|
|
√ |
√ |
American Funds - International FundSM - Class 2 |
|
|
√ |
√ |
Fidelity® VIP Balanced Portfolio - Service
Class 2 |
|
|
√ |
√ |
Fidelity® VIP Contrafund® Portfolio - Service Class
2 |
|
|
√ |
√ |
Fidelity® VIP Mid Cap Portfolio - Service
Class 2 |
|
|
√ |
√ |
Fidelity® VIP Value Strategies Portfolio -
Service Class 2 |
|
|
√ |
√ |
State Street Total Return V.I.S. Fund - Class 3 |
|
|
√ |
√ |
TA 60/40 Allocation - Service Class |
|
|
√ |
√ |
TA Aegon Bond - Service Class |
√ |
√ |
|
|
TA Aegon Core Bond - Service Class |
√ |
√ |
|
|
TA Aegon High Yield Bond - Service Class |
|
|
√ |
√ |
TA Aegon Sustainable Equity Income - Service Class |
|
|
√ |
√ |
TA Aegon U.S. Government Securities - Service Class |
√ |
√ |
|
|
TA American Funds Managed Risk - Balanced - Service Class(1) |
|
|
√ |
√ |
TA BlackRock Government Money Market - Service Class
|
√ |
√ |
|
|
TA BlackRock iShares Active Asset Allocation - Conservative - Service
Class(1) |
|
|
√ |
√ |
TA BlackRock iShares Active Asset Allocation - Moderate - Service
Class(1) |
|
|
√ |
√ |
TA BlackRock iShares Active Asset Allocation - Moderate Growth -
Service Class(1) |
|
|
√ |
√ |
TA BlackRock iShares Dynamic Allocation - Balanced - Service Class(1) |
|
|
√ |
√ |
TA BlackRock iShares Dynamic Allocation - Moderate Growth - Service
Class(1) |
|
|
√ |
√ |
TA BlackRock iShares Edge 40- Service Class |
|
|
√ |
√ |
TA BlackRock iShares Edge 50 - Service Class |
|
|
√ |
√ |
TA BlackRock iShares Edge 75 - Service Class |
|
|
√ |
√ |
TA BlackRock iShares Edge 100 - Service Class |
|
|
√ |
√ |
TA BlackRock iShares Tactical - Balanced - Service Class
|
|
|
√ |
√ |
TA BlackRock iShares Tactical - Conservative - Service
Class |
|
|
√ |
√ |
TA BlackRock iShares Tactical - Growth - Service Class
|
|
|
√ |
√ |
TA BlackRock Real Estate Securities - Service Class |
|
|
√ |
√ |
TA BlackRock Tactical Allocation - Service Class(1) |
|
|
√ |
√ |
TA Goldman Sachs Managed Risk - Balanced ETF - Service Class(1) |
|
|
√ |
√ |
TA Goldman Sachs Managed Risk - Conservative ETF - Service
Class(1) |
|
|
√ |
√ |
|
Select
Investment
Options |
Select
Investment
Options |
Flexible
Investment
Options |
Flexible
Investment
Options |
Subaccounts |
Before 1/31/20 |
Post 1/31/20 |
Before 1/31/20 |
Post 1/31/20 |
TA Goldman Sachs Managed Risk - Growth ETF - Service Class(1) |
|
|
√ |
√ |
TA Great Lakes Advisors Large Cap Value - Service Class |
|
|
√ |
√ |
TA International Focus - Service Class |
|
|
√ |
√ |
TA Janus Balanced - Service Class |
|
|
√ |
√ |
TA Janus Mid-Cap Growth - Service Class |
|
|
√ |
√ |
TA JPMorgan Asset Allocation - Conservative - Service Class(1) |
|
|
√ |
√ |
TA JPMorgan Asset Allocation - Growth - Service Class |
|
|
√ |
√ |
TA JPMorgan Asset Allocation - Moderate - Service Class(1) |
|
|
√ |
√ |
TA JPMorgan Asset Allocation - Moderate Growth - Service Class(1) |
|
|
√ |
√ |
TA JPMorgan Enhanced Index - Service Class |
|
|
√ |
√ |
TA JPMorgan International Moderate Growth - Service Class(1) |
|
|
√ |
√ |
TA JPMorgan Tactical Allocation - Service Class |
|
|
√ |
√ |
TA Madison Diversified Income - Service Class |
|
|
√ |
√ |
TA Market Participation Strategy - Service Class(1) |
|
|
√ |
√ |
TA Morgan Stanley Global Allocation - Service Class
|
|
|
√ |
√ |
TA Morgan Stanley Global Allocation Managed Risk - Balanced - Service
Class(1) |
|
|
√ |
√ |
TA MSCI EAFE Index - Service Class |
|
|
√ |
√ |
TA Multi-Managed Balanced - Service Class |
|
|
√ |
√ |
TA PineBridge Inflation Opportunities - Service Class |
√ |
√ |
|
|
TA S&P 500 Index - Service Class |
|
|
√ |
√ |
TA Small Mid Cap Value - Service Class |
|
|
√ |
√ |
TA T. Rowe Price Small Cap - Service Class |
|
|
√ |
√ |
TA TS&W International Equity - Service Class
|
|
|
√ |
√ |
TA TS&W Mid Cap Value Opportunities - Service Class |
|
|
√ |
√ |
TA WMC US Growth - Service Class |
|
|
√ |
√ |
S* (G-C)* (M/12) | ||
S |
= |
Is the amount (before surrender charges, premium taxes and the application of any
Guaranteed Minimum Death Benefits, if any) being surrendered, withdrawn,
transferred, paid upon death, or applied to an income option
that is subject to the Excess Interest Adjustment.
|
G |
= |
Is the guaranteed interest rate for the guaranteed period applicable to “S”; |
C |
= |
Is the current guaranteed interest rate then being offered on new premium payments
for the next longer option period than “M”. If this Policy form or such an option
period is no longer offered, “C” will be the U.S. Treasury rate for the next longer
maturity (in whole years) than “M” on the 25th day of the previous calendar month;
and |
M |
= |
Number of months remaining in the current option period for
“S”, rounded up to
the next higher whole number of months. |
* |
= |
Multiplication |
Policy Value at middle of Policy Year 2 |
= 50,000.00 * (1.055) ^ 1.5 = 54,181.21 |
Cumulative earnings |
= 54,181.21 – 50,000.00 = 4,181.21 |
Amount free of Excess Interest Adjustment |
= 4,181.21 |
Amount subject to Excess Interest Adjustment |
= 54,181.21 – 4,181.21 = 50,000.00 |
Excess Interest Adjustment floor |
= 50,000.00 * (1.015) ^ 1.5 = 51,129.21 |
Excess Interest Adjustment S* (G-C)* (M/12) where: |
G = .055
C = .085
M = 42
= 50,000.00 * (.055 - .085) * (42/12) |
|
= -5,250.00, but Excess Interest Adjustment cannot cause the
Adjusted Policy Value to fall below the Excess Interest
Adjustment floor, so the adjustment is limited to
51,129.21 - 54,181.21 = -3,052.00 |
Adjusted Policy Value = Policy Value + Excess Interest
Adjustment |
= 54,181.21 + (-3,052.00) = 51,129.21 |
Policy Value at middle of Policy Year 2 |
= 50,000.00 * (1.055) ^ 1.5 = 54,181.21 |
Cumulative earnings |
= 54,181.21 – 50,000.00 = 4,181.21 |
Amount free of Excess Interest Adjustment |
= 4,181.21 |
Amount subject to Excess Interest Adjustment |
= 54,181.21 – 4,181.21 = 50,000.00 |
Excess Interest Adjustment floor |
= 50,000.00 * (1.015) ^ 1.5 = 51,129.21 |
Excess Interest Adjustment S* (G-C)* (M/12) where: |
G = .055
C = .045
M = 42
= 50,000.00 * (.055-.045) * (42/12) = 1,750.00 |
Adjusted Policy Value |
= 54,181.21 + 1,750.00 = 55,931.21 |
R - E + SC | ||
R |
= |
the requested withdrawal; |
E |
= |
the Excess Interest Adjustment; and |
SC |
= |
the surrender charges on EPW: where |
EPW |
= |
the excess withdrawal amount. |
Policy Value at middle of Policy Year 2 |
= 50,000.00 * (1.055) ^ 1.5 = 54,181.21 |
Cumulative earnings |
= 54,181.21 – 50,000.00 = 4,181.21 |
Amount free of Excess Interest Adjustment |
= 4,181.21 |
Excess Interest Adjustment S* (G-C)* (M/12) where: |
S = 5,000 – 4,181.21 = 818.79
G = .055
C = .065
M = 42
= 818.79 * (.055 - .065) * (42/12) = -28.66 |
Remaining Policy Value at middle of Policy Year 2 |
= 54,181.21 - (R - E + surrender charge)
= 54,181.21 - (5,000.00 - (-28.66) + 0.00) = 49,152.55 |
Policy Value at middle of Policy Year 2 |
= 50,000.00 * (1.055) ^ 1.5 = 54,181.21 |
Cumulative earnings |
= 54,181.21 – 50,000.00 = 4,181.21 |
Amount free of Excess Interest Adjustment |
= 4,181.21 |
Excess Interest Adjustment S* (G-C)* (M/12) where: |
S = 5,000 – 4,181.21 = 818.79
G = .055
C = .045
M = 42
= 818.79 * (.055 - .045)* (42/12) = 28.66 |
Remaining Policy Value at middle of Policy Year 2 |
= 54,181.21 - (R - E + surrender charge)
= 54,181.21 - (5,000.00 – 28.66 + 0.00) = 49,209.87 |
Reduction in GMDB |
=$15,000 |
Reduction in PV/CV |
=$10,000 |
New GMDB |
=$60,000 |
New PV/CV |
=$40,000 |
Reduction in GMDB |
=$10,000 |
Reduction in PV/CV |
=$10,000 |
New GMDB |
=$40,000 |
New PV/CV |
=$65,000 |
Reduction in GMDB |
=$4,500 |
Reduction in PV/CV |
=$4,500 |
New GMDB |
=$70,500 |
New PV/CV |
=$45,500 |
Reduction in GMDB |
=$13,021.98 |
Reduction in PV/CV |
=$10,000.00 |
New GMDB |
=$61,978.02 |
New PV/CV |
=$40,000.00 |
Reduction in GMDB |
=$10,000 |
Reduction in PV/CV |
=$10,000 |
New GMDB |
=$40,000 |
New PV/CV |
=$65,000 |
Premium Based Charge (as a percentage of premium payments) | |
Premium Payments |
Total Charge |
$0 thru $49,999.99 |
5.00% |
$50,000.00 thru $99,999.99 |
4.50% |
$100,000.00 thru $249,999.99 |
3.50% |
$250,000.00 thru $499,999.99 |
2.50% |
$500,000.00 thru $999,999.99 |
2.00% |
$1,000,000.00 or more |
1.25% |
Rider earnings on date of withdrawal (= Policy Value on date of
withdrawal, but prior to the current withdrawal – Policy Value on rider date – premiums paid after rider date + withdrawals since rider date that exceeded rider earnings
= $150,000 - $100,000 - $25,000 + 0): |
$25,000 |
Amount of withdrawal that exceeds rider earnings ($30,000 -
$25,000): |
$5,000 |
Base Policy death benefit (assumed) on the date of death benefit
calculation: |
$200,000 |
Policy Value on the date of death benefit calculations:
|
$175,000 |
Rider earnings (= Policy Value on date of death benefit calculations
– Policy Value on rider date – premiums since
rider date + withdrawals, including the current withdrawal, since rider
date that exceeded rider earnings = $175,000 - $100,000 -
$25,000 + $5,000): |
$55,000 |
Additional death benefit amount (= additional death benefit factor * rider
earnings = 40%* $55,000): |
$22,000 |
Total death benefit paid (= base Policy death benefit plus additional
death benefit amount): |
$222,000 |
Rider earnings (= Policy Value on date of death benefit calculations
– Policy Value on rider date – premiums since
rider date + withdrawals, including the current withdrawal, since rider
date that exceeded rider earnings = $75,000 - $100,000 - $0
+ $0): |
$0 |
Additional death benefit amount (= additional death benefit factor * rider
earnings = 40%* $0): |
$0 |
Total death benefit paid (= base Policy death benefit plus additional
death benefit amount): |
$100,000 |
Rider fee on second rider anniversary (= rider fee * Policy Value = 0.55%
* $95,000) |
$522.50 |
Additional death benefit during 3rd rider year (= sum of total rider fees
paid = $605 + $522.50) |
$1,127.50 |
Rider benefit base in 3rd rider year prior to premium addition (= account
value less premiums added since rider date = $115,000
– $0) |
$115,000.00 |
Rider benefit base in 3rd rider year after premium addition (= $140,000 -
$25,000) |
$115,000.00 |
Rider benefit base in 4th rider year prior to withdrawal (= account value
less premiums added since rider date = $145,000 -
$25,000) |
$120,000.00 |
Rider benefit base in 4th rider year after withdrawal = (account value
less premiums added since rider date =$110,000 -
$25,000) |
$85,000.00 |
Rider benefit base in 5th rider year (= $130,000 - $25,000)
|
$105,000.00 |
Additional death benefit = rider benefit percentage * rider benefit base =
30% * $105,000 |
$31,500.00 |
Total Death Proceeds in 5th rider year (= base Policy Death Proceeds +
additional death benefit amount = $145,000 +
$31,500) |
$176,500.00 |
Investment Option Allocations: |
Initial Premium Allocations |
Initial Premium Allocation Percentages |
Stable Account |
$20,000 |
20% |
Select Investment Option Fund A |
$13,000 |
13% |
Select Investment Option Fund B |
$13,000 |
13% |
Select Investment Option Fund C |
$4,000 |
4% |
Total Select Investment Options |
$30,000 |
30% |
Flexible Investment Option Fund A |
$14,000 |
14% |
Flexible Investment Option Fund B |
$14,000 |
14% |
Flexible Investment Option Fund C |
$22,000 |
22% |
Total Flexible Investment Options |
$50,000 |
50% |
Total Investments |
$100,000 |
100% |
Investment Option Allocations: |
Initial Allocations |
Initial Allocation Percentages |
Rebalancing Allocation
Percentages |
Stable Account |
$20,000 |
20% |
N/A |
Total Select Investment Options |
$30,000 |
30% |
37.5% |
Total Flexible Investment Options |
$50,000 |
50% |
62.5% |
Total Investments |
$100,000 |
100% |
100% |
Investment Option Allocations: |
Unrounded Rebalancing
Percentages |
Rounded Rebalancing
Percentages |
Stable Account |
N/A |
N/A |
Total Select Investment Options |
37.5% |
38%(1) |
Total Flexible Investment Options |
62.5% |
62%(2) |
Total Investments |
100% |
100% |
Investment Option Allocations: |
Initial Allocations |
Initial Percentages |
Rebalancing Percentages |
Stable Account |
$20,000 |
20% |
N/A |
Select Investment Option Fund A |
$13,000 |
13% |
16% |
Select Investment Option Fund B |
$13,000 |
13% |
16% |
Select Investment Option Fund C |
$4,000 |
4% |
5% |
Total Select Investment Options |
$30,000 |
30% |
37% |
Flexible Investment Option Fund A |
$14,000 |
14% |
18% |
Flexible Investment Option Fund B |
$14,000 |
14% |
18% |
Flexible Investment Option Fund C |
$22,000 |
22% |
28% |
Total Flexible Investment Options |
$50,000 |
50% |
64% |
Total Investments |
$100,000 |
100% |
101% |
Investment Option Allocations: |
Initial Allocations |
Initial Percentages |
Rebalancing Percentages |
Stable Account |
$20,000 |
20% |
N/A |
Select Investment Option Fund A |
$13,000 |
13% |
17% |
Select Investment Option Fund B |
$13,000 |
13% |
16% |
Select Investment Option Fund C |
$4,000 |
4% |
5% |
Total Select Investment Options |
$30,000 |
30% |
38% |
Flexible Investment Option Fund A |
$14,000 |
14% |
18% |
Flexible Investment Option Fund B |
$14,000 |
14% |
18% |
Flexible Investment Option Fund C |
$22,000 |
22% |
26% |
Total Flexible Investment Options |
$50,000 |
50% |
62% |
Total Investments |
$100,000 |
100% |
100% |
Investment Option Allocations: |
Allocation Amounts before
Rebalance |
Allocation Percentage of rebalancing funds Prior to Rebalance |
Stable Account |
$20,050 |
N/A |
Select Investment Option Fund A |
$13,090 |
17% |
Select Investment Option Fund B |
$11,550 |
15% |
Select Investment Option Fund C |
$3,850 |
5% |
Total Select Investment Options |
$28,490 |
37% |
Flexible Investment Option Fund A |
$13,090 |
17% |
Flexible Investment Option Fund B |
$14,630 |
19% |
Flexible Investment Option Fund C |
$20,790 |
27% |
Total Flexible Investment Options |
$48,510 |
63% |
Total Investments |
$97,050 |
100% |
Investment Option Allocations: |
Allocation amounts after
Rebalance |
Allocation of Rebalancing
after Rebalance |
Allocation of Policy Value
Rebalance |
Stable Account |
$20,050 |
N/A |
21% |
Select Investment Option Fund A |
$13,090 |
17% |
13% |
Select Investment Option Fund B |
$12,320 |
16% |
13% |
Select Investment Option Fund C |
$3,850 |
5% |
4% |
Total Select Investment Options |
$29,260 |
38% |
30% |
Flexible Investment Option Fund A |
$13,860 |
18% |
14% |
Flexible Investment Option Fund B |
$13,860 |
18% |
14% |
Flexible Investment Option Fund C |
$20,020 |
26% |
21% |
Total Flexible Investment Options |
$47,740 |
62% |
49% |
Total Investments |
$97,050 |
100% |
100% |
Rider Year |
Hypothetical Policy Value |
Subsequent Premium
Payment |
Withdrawal |
Excess WB Adjustment |
Growth Amount* |
High MonthiversarySM
Value |
Withdrawal Base |
Rider Withdrawal
Amount |
|
$100,000 |
$ |
$ |
$ |
$ |
$100,000 |
$100,000 |
$6,300 |
1 |
$102,000 |
$ |
$ |
$ |
$ |
$102,000 |
$100,000 |
$6,300 |
1 |
$105,060 |
$ |
$ |
$ |
$ |
$105,060 |
$100,000 |
$6,300 |
1 |
$107,161 |
$ |
$ |
$ |
$ |
$107,161 |
$100,000 |
$6,300 |
1 |
$110,376 |
$ |
$ |
$ |
$ |
$110,376 |
$100,000 |
$6,300 |
1 |
$112,584 |
$ |
$ |
$ |
$ |
$112,584 |
$100,000 |
$6,300 |
1 |
$115,961 |
$ |
$ |
$ |
$ |
$115,961 |
$100,000 |
$6,300 |
1 |
$118,280 |
$ |
$ |
$ |
$ |
$118,280 |
$100,000 |
$6,300 |
1 |
$121,829 |
$ |
$ |
$ |
$ |
$121,829 |
$100,000 |
$6,300 |
1 |
$124,265 |
$ |
$ |
$ |
$ |
$124,265 |
$100,000 |
$6,300 |
1 |
$120,537 |
$ |
$ |
$ |
$ |
$124,265 |
$100,000 |
$6,300 |
1 |
$115,716 |
$ |
$ |
$ |
$ |
$124,265 |
$100,000 |
$6,300 |
1 |
$109,930 |
$ |
$ |
$ |
$105,000 |
$124,265 |
$124,2651 |
$7,829 |
2 |
$112,129 |
$ |
$ |
$ |
$ |
$112,129 |
$124,265 |
$7,829 |
2 |
$115,492 |
$ |
$ |
$ |
$ |
$115,492 |
$124,265 |
$7,829 |
2 |
$117,802 |
$ |
$ |
$ |
$ |
$117,802 |
$124,265 |
$7,829 |
2 |
$121,336 |
$ |
$ |
$ |
$ |
$121,336 |
$124,265 |
$7,829 |
2 |
$124,976 |
$ |
$ |
$ |
$ |
$124,976 |
$124,265 |
$7,829 |
2 |
$177,476 |
$50,000 |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$175,701 |
$ |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$172,187 |
$ |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$167,022 |
$ |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$163,681 |
$ |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$166,955 |
$ |
$ |
$ |
$ |
$177,476 |
$174,265 |
$10,979 |
2 |
$170,294 |
$ |
$ |
$ |
$182,979 |
$177,476 |
$182,9792 |
$11,528 |
3 |
$166,888 |
$ |
$ |
$ |
$ |
$166,888 |
$182,979 |
$11,528 |
3 |
$171,895 |
$ |
$ |
$ |
$ |
$171,895 |
$182,979 |
$11,528 |
3 |
$173,614 |
$ |
$ |
$ |
$ |
$173,614 |
$182,979 |
$11,528 |
3 |
$178,822 |
$ |
$ |
$ |
$ |
$178,822 |
$182,979 |
$11,528 |
3 |
$175,246 |
$ |
$ |
$ |
$ |
$178,822 |
$182,979 |
$11,528 |
3 |
$151,741 |
$ |
$20,000 |
$9,676 |
$ |
$ |
$173,303 |
$ |
3 |
$154,775 |
$ |
$ |
$ |
$ |
$ |
$173,303 |
$ |
3 |
$159,419 |
$ |
$ |
$ |
$ |
$ |
$173,303 |
$ |
3 |
$161,013 |
$ |
$ |
$ |
$ |
$ |
$173,303 |
$ |
3 |
$165,843 |
$ |
$ |
$ |
$ |
$ |
$173,303 |
$ |
3 |
$174,135 |
$ |
$ |
$ |
$ |
$ |
$173,303 |
$ |
Rider Year |
Hypothetical Policy Value |
Subsequent Premium
Payment |
Withdrawal |
Excess WB Adjustment |
Growth Amount* |
High MonthiversarySM
Value |
Withdrawal Base |
Rider Withdrawal
Amount |
3 |
$181,101 |
$ |
$ |
$ |
$ |
$ |
$181,1011 |
$11,409 |
Rider Year |
Hypothetical Policy Value |
Subsequent Premium
Payment |
Withdrawal |
Excess WB Adjustment |
Withdrawal Base |
Rider Withdrawal
Amount |
|
$100,000 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$102,000 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$105,060 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$107,161 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$110,376 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$112,584 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$115,961 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$118,280 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$121,829 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$124,265 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$120,537 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$115,716 |
$ |
$ |
$ |
$100,000 |
$6,000 |
1 |
$109,930 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$112,129 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$115,492 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$117,802 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$121,336 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$124,976 |
$ |
$ |
$ |
$109,930 |
$6,596 |
2 |
$177,476 |
$50,000 |
$ |
$ |
$159,930 |
$9,596 |
2 |
$175,701 |
$ |
$ |
$ |
$159,930 |
$9,596 |
2 |
$172,187 |
$ |
$ |
$ |
$159,930 |
$9,596 |
2 |
$167,022 |
$ |
$ |
$ |
$159,930 |
$9,596 |
2 |
$163,681 |
$ |
$ |
$ |
$159,930 |
$9,596 |
2 |
$166,955 |
$ |
$ |
$ |
$159,930 |
$9,596 |
2 |
$170,294 |
$ |
$ |
$ |
$170,2941 |
$10,218 |
3 |
$166,888 |
$ |
$ |
$ |
$170,294 |
$10,218 |
3 |
$171,895 |
$ |
$ |
$ |
$170,294 |
$10,218 |
3 |
$173,614 |
$ |
$ |
$ |
$170,294 |
$10,218 |
3 |
$178,822 |
$ |
$ |
$ |
$170,294 |
$10,218 |
3 |
$175,246 |
$ |
$ |
$ |
$170,294 |
$10,218 |
3 |
$151,741 |
$ |
$20,000 |
$10,314 |
$159,980 |
$ |
3 |
$154,775 |
$ |
$ |
$ |
$159,980 |
$ |
3 |
$159,419 |
$ |
$ |
$ |
$159,980 |
$ |
3 |
$161,013 |
$ |
$ |
$ |
$159,980 |
$ |
3 |
$165,843 |
$ |
$ |
$ |
$159,980 |
$ |
3 |
$174,135 |
$ |
$ |
$ |
$159,980 |
$ |
3 |
$181,101 |
$ |
$ |
$ |
$181,1011 |
$10,866 |