Transamerica Structured Index Advantage Annuity NY
Transamerica Structured Index Advantage Annuity NY
About Product
The Transamerica Structured Index Advantage Annuity NY is a registered index-linked annuity that offers a distinctive combination of benefits you can tailor to meet specific needs. Take advantage of opportunities for tax-deferred investment growth while limiting your risk to market downside
Performance Lock
The Performance Lock feature lets the policyholder lock in an Interim Value automatically once it reaches a predefined growth target. The policyholder may also request a manual lock at any time. It’s available for no charge, and can be elected with any Index Account Option. Withdrawals will be deducted pro rata from the Allocation Accounts and the Performance Lock Account. Performance Lock is referred to as the Interim Value Lock in the contract.
Interim Value
The value of the Index Account Option during the Crediting Period. The Interim Value is the amount available in the Index Account for withdrawals, surrender, annuitization, to pay fees and charges, and payable upon death.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| Performance Lock Account |
Fixed
|
2.5%
Fixed
|
| 1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
| Fixed Holding Account |
Fixed
|
2.5%
Fixed
|
| 1-Year S&P 500 PTP Cap with 15% Buffer |
Point to Point
Annual
|
11.5%
Cap
|
| 1-Year S&P 500 PTP Cap with 10% Buffer |
Point to Point
Annual
|
14%
Cap
|
| 6-Year S&P 500 PTP Cap with 10% Buffer Uncapped |
Point to Point
6-Year
|
|
| 2-Year S&P 500 PTP Cap with 10% Buffer |
Point to Point
Biennial
|
30%
Cap
|
| 2-Year S&P 500 PTP Cap with 15% Buffer |
Point to Point
Biennial
|
25%
Cap
|
| 6-Year S&P 500 PTP Cap with 20% Buffer |
Point to Point
6-Year
|
130%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Transamerica Structured Index Advantage Annuity NY annuity.
Waivers
Nursing Home
After the policy issue date, the policyholder may withdraw all or part of the Policy Value if they or their spouse were to be confined to a hospital or nursing facility for 30 consecutive days or diagnosed with a terminal condition with less than one year to live (a minimum withdrawal of $1,000 applies).
Terminal Illness
After the policy issue date, the policyholder may withdraw all or part of the Policy Value if they or their spouse were to be confined to a hospital or nursing facility for 30 consecutive days or diagnosed with a terminal condition with less than one year to live (a minimum withdrawal of $1,000 applies).
Premium Notes
- $1,000,000 provided that you, any joint Owner, and the Annuitant were all younger than age 81 on the date you signed the application; or
- $500,000 if you, any joint Owner, or the Annuitant were at least age 81 on the date you signed the application.
Withdrawal Provisions
Withdrawal AmountThe surrender charge-free amount each policy year is equal to the greater of 10% of the total premium payments, less any withdrawals taken in the same policy year or the earnings, plus premiums that have reached the end of the surrender charge period. Earnings may be withdrawn anytime, free of surrender charges. Withdrawals from the Fixed Holding Account are not permitted until all other Account Options have been depleted of value. Minimum withdrawal amount is $500. Systematic PayoutMonthly, quarterly, semiannual, or annual withdrawals ($50 minimum)
- A.M. Best A
- S&P A+
- Moody's A1
- Comdex 82
