DENVER, Aug. 25, 2011 (GLOBE NEWSWIRE) -- Transamerica insurance companies have carved out an enviable position among leading variable annuity providers. Recent industry data compiled by Transamerica reflects that it is the only provider among the top annuity firms to achieve year-over-year sales growth from 2005-2010. The company is on pace to continue this trend in 2011.
"One key factor contributing to our steady growth – which has averaged over 21% annually since 2005–is that our products focus exclusively on solutions that help advisors solve client needs," says Dave Paulsen, Chief Sales Officer at Transamerica Capital Management. "Top producers continue to tell us that our ability to help them communicate to clients the benefits of adding variable annuities to an overall retirement income plan is a primary reason why they enjoy working with Transamerica."
Product design, however, is just one of the many areas where Transamerica has gained the attention of advisors:
- Transamerica's wholesaling team is known as one of the most knowledgeable in the industry
- Marketing materials have been cited by producers as extremely helpful in communicating concepts to clients
- Our service team has been expanded and strengthened for advisors to respond quickly to client requests
- Advancements in technology have positioned Transamerica to provide the top-level support that advisors expect
- Transamerica's annual Coaching Forums continue to garner broad interest for their value in helping advisors grow their practices
"Advisors find it extremely difficult to stay abreast of changes within the variable annuity industry and this is one reason overall industry sales have remained relatively flat, and why Transamerica's growth is so notable," says Paulsen. "Advisors obviously appreciate the client-solution approach we have taken with our most popular living benefits – Retirement Income Choice® 1.2 and Retirement Income MaxSM. The effectiveness of our product offerings and strength of our overall distribution group, are principal drivers in why advisors are increasingly working with Transamerica."
Financial professionals interested in learning more about Transamerica's retirement income solutions, should contact the Transamerica sales desk at 1-800-851-7555. Investors should contact the Transamerica customer care group at 1-800-525-6205.
Before investing, consider a variable annuity's investment objectives, risks, charges, and expenses. Call 1-800-525-6205 for a contract and fund prospectus containing this and other information. Please read it carefully.
Variable annuities are long-term financial vehicles designed for retirement purposes and contain underlying investment portfolios that are subject to market fluctuation, investment risk and possible loss of principal.
Variable annuities issued by Transamerica Life Insurance Company in Cedar Rapids, Iowa, Transamerica Advisors Life Insurance Company in Little Rock, Arkansas, Transamerica Advisors Life Insurance Company of New York in Harrison, New York, and Transamerica Financial Life Insurance Company in Harrison, New York (Transamerica). Annuities are underwritten and distributed by Transamerica Capital, Inc. Transamerica Financial Life Insurance Company and Transamerica Advisors Life Insurance Company of New York are licensed in New York.
Transamerica variable annuities' range of fees and charges include 0.60%–1.90% M&E&A, 0%–9% surrender charges, $30–$35 annual fee, and investment option management fees. A fund facilitation fee of up to 0.30% annually may apply for certain investment options. Additional fees apply to optional living benefits.
All guarantees, including optional benefits, are based on the claims-paying ability of the issuing insurance company.
Withdrawals of taxable amounts are subject to ordinary income taxes and, if taken prior to age 59½, a 10% federal tax penalty may apply.
Transamerica Capital Management is a business unit of Transamerica Capital, Inc., Transamerica Life Insurance Company, Transamerica Financial Life Insurance Company, Transamerica Advisors Life Insurance Company and Transamerica Advisors Life Insurance Company of New York.
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