Transamerica has introduced the Transamerica Advisory Annuity contract.
The contract has expense ratios that can range from 0.39% to 0.93%, depending on the investment allocations chosen.
The contract holder can choose from a menu of investment options, including 18 portfolios managed by Vanguard and eight by Dimension Fund Advisors.
For death benefits, the contract holder can choose between a policy value option and a return-of-premium option.
Transamerica is a Baltimore-based arm of Aegon N.V. of The Hague, in the Netherlands. It’s writing the new annuity through its Transamerica Life Insurance Company affiliate, which has its official state of domicile in Iowa.
Transamerica is selling the new annuity through its own annuity specialists, fee-based says advisors and registered investment advisors.