Transamerica, WRL Annuity with Life Rider?

[blue_wynd]

Anyone here familiar with Transamerica or Western Reserve life annuity that has life insurance included? I have a friend who was approached by WFG about this product. Basically you put money in for 10 years and have an option to keep it at the company for age 65 with a 500k life insurance death benefit included. I am with MM, but have access to Transamerica and WRL products. She is willing to work with me instead, so hope to get more info from people. I am assuming it is a variable annuity with term? UL? life as a rider? Thanks.

 

[Lewis_FL]

I have never heard of such a product but I am not familiar with everything on the WFG side. (I was a wholesaler on the Independent channel previously.) However it's a moot point as WRL products can only be sold by WFG and TFA reps now.

 

[JoKat]

I am checking into that now for you. I am new to WFG so I contacted my leader. Will let you know.

I contacted WFG and they are looking into it.

 

[scagnt83]

Anyone here familiar with Transamerica or Western Reserve life annuity that has life insurance included? I have a friend who was approached by WFG about this product. Basically you put money in for 10 years and have an option to keep it at the company for age 65 with a 500k life insurance death benefit included. I am with MM, but have access to Transamerica and WRL products. She is willing to work with me instead, so hope to get more info from people. I am assuming it is a variable annuity with term? UL? life as a rider? Thanks.

Are you sure its not just an enhanced DB rider on a regular annuity?
Thats what it probably is.

If she wants a DB sell her LI & the Annuity.
If the annuity has a LI like DB, then it has to sacrifice performance for the DB benefit. You dont get a $500k DB for free....

 

[JoKat]

I spoke to WFG and they said based on the info you provided they do not know of any products like this.

 

[JoKat]

I spoke to my trainer and she says she can get Annuity with a Life Rider. If interested I can have her contact you.

 

[blue_wynd]

Thanks for the help. Can you send me a product info sheet about the rider and it plays out with the annuity?

 

[Josh Landis]

If you're looking for an annuity product with a DB rider, GAFRI has a great product that offers 7% roll-up for 15 years.