A large annuity writer is adding 16 investment options from 5 money managers to its variable annuity product lineup.
Transamerica Life Insurance Company, Purchase, N.Y., says the subaccount managers for the investments are American Funds, Foxhall Capital Management Inc., GE Asset Management Inc., Hanlon Investment Management Inc. and Vanguard Group.
The subaccount additions are strategic, says Dave Paulsen, executive vice president and national sales manager for annuities at Transamerica Capital Inc., the underwriting and wholesaling broker-dealer for Transamerica VAs. They are designed to provide additional diversification, giving financial professionals “even greater control over the allocation process,” he says.
Even though its investment options are changing, the company stresses that it is not changing the 2 retirement income choice riders that it offers with its VAs.
The Transamerica companies are members of the AEGON Group, The Hague, Netherlands.