MEMBERS® LandmarkSM Variable Annuity

MEMBERS® LandmarkSM
Variable Annuity
FLEXIBLE CHOICES, CONFIDENCE OF GUARANTEES
Move confidently into the future™
10002052-0912
REV 0912
Focused on helping people.
It’s important to know that you have a strong team helping you achieve retirement
security. With more than 75 years of true market commitment, the products offered
through MEMBERS® Insurance & Investments provide financial security and
protection to credit unions and their members worldwide.
MEMBERS® Variable Annuities are offered through licensed investment and
insurance representatives and are issued by Transamerica Life Insurance
Company (Transamerica). Transamerica is among the leading providers of financial
services with a history of superior service and a focus on helping people.
More than a century of service.
The date is April 18, 1906. A catastrophic earthquake shatters the early morning silence
in San Francisco. In the wake of the devastation, a young banker, A.P. Giannini, who
would later form Transamerica Corporation, focuses on one thing: helping residents
rebuild. He extends credit to anyone in need, with only a handshake as collateral. With
this simple act of trust, the reconstruction of San Francisco begins and a remarkable
American success story is born.
With more than a century of experience, dating to the incorporation of Transamerica
Occidental Life Insurance Company in 1906, Transamerica Life Insurance Company
continues to follow the mission to help individuals, families and businesses build and
protect their hard-earned assets. As of December 31, 2011, financial records of
Transamerica Life Insurance Company indicated $102.7 billion in assets, $96.7 billion
in liabilities and $6.0 billion in capital and surplus.
Transamerica Life Insurance Company is rated A+ (Superior), second-highest rating out
of 16, by A.M. Best, AA- (Very Strong) by Standard and Poor’s, fourth-highest rating out
of 21, A1 (Good) by Moody’s, fifth-highest rating out of 21, and AA- (Very Strong) by Fitch,
fourth-highest rating out of 19, as of April, 2012. Ratings refer to the company’s overall
financial strength; they are not a recommendation of specific contract provisions, rates
or practices. Guarantees are based on the claims-paying ability of Transamerica Life
Insurance Company and do not extend to the performance of variable subaccounts,
which can fluctuate with changes in market conditions.
2 MEMBERS® LANDMARKSM VARIABLE ANNUITY
Confidence into the future.
Congratulations. You are taking an important step toward your future by learning
more about your retirement choices. The MEMBERS® LandmarkSM Variable Annuity
combines investment options, protection benefits, income guarantees and tax
advantages. With all of these valuable features in one contract, the MEMBERS®
LandmarkSM Variable Annuity can become the cornerstone of your future
financial security. All guarantees are based on the claims-paying ability of
Transamerica Life Insurance Company.
Are you looking for an investment
with all these benefits?
Investment options
Income guarantees
Variable annuities allow you to personalize
an investment strategy based on your goals,
timeframe and risk comfort level. They offer:
Variable annuities can provide strong retirement income
guarantees through the purchase of additional riders or
through annuitization. Options include:
• Professional money managers
• Guaranteed lifetime income
for one or two individuals
• Participation in the growth
potential of the stock and
bond markets
• Diverse variable investment
options, including domestic
stocks and bonds,
international stocks and
bonds, allocation funds
and specialty funds
• A guarantee that income will not
decrease during market downturns
Variable annuity benefits
• Guaranteed increases to
your future income while you
wait to start withdrawals2
Investment
options
Protection
benefits
• Fixed account options
providing guaranteed returns
Income
guarantees
Tax
advantages
• Flexibility to transfer among
investment options if your
needs change1
• Opportunities for your
income to increase even after
lifetime withdrawals begin
• Ways to link income between
different phases of retirement
as needs change
• A range of income options to help
meet your specific retirement goals
Protection benefits
Tax advantages
Variable annuities offer important insurance
benefits through the policy or the purchase of
additional riders. You can choose to protect:
ariable annuities offer tax advantages3 similar to IRAs
V
and 401(k) plans:
• Assets you hope to pass on to loved ones
• Value of your premium payments, even
if markets should decline
• Potential earnings on your investment over time
• Tax-deferred earnings (taxed as ordinary
income upon withdrawal)
• Tax-free transfers among investment subaccounts
• Direct rollovers from employer-sponsored
retirement plans like 401(k)s
• Income payments during retirement
1
After 12 transfers in a year, a $10 transfer fee may apply. Transamerica Life insurance Company reserves the right to restrict transfers to the Fixed Account.
2
Withdrawals of taxable amounts are subject to ordinary income tax and prior to 59 ½ may be subject to a 10% federal premature distribution penalty tax.
3
There are no additional tax benefits when the policy is purchased as an IRA or other tax qualified plan, since those plans already provide tax-deferred status.
An annuity should be purchased as a qualified plan for the value of features other than tax deferral.
Flexible choices, confidence of guarantees 3
At age 58, Tina is laying down plans for retirement, which she confidently
says begins on July 1, 2021. Her strategy centers on her 401(k), Roth IRA
and the MEMBERS® LandmarkSM Variable Annuity. She has invested her
annuity premium in an allocation fund to pursue market growth
opportunities. To guard her retirement plans against a down market,
she purchased principal and income protection through the Guaranteed
Principal SolutionSM rider (see page 11).
Invest the way you want.
With your variable annuity, you can select from more than 30 investment options to create an investment strategy suited to
your objectives. Your financial representative can help you choose among:
•A
llocation funds that offer active management aligned with your risk tolerance
•F
unds that allocate to a range of underlying asset classes, but take a short-term, tactical approach to investing
• Lower-cost funds that provide a more passive approach and seek to duplicate the performance of a market index
•A
full range of investment options from widely recognized money managers to customize your portfolio
•F
ixed accounts that offer a guaranteed interest rate1
• Investment strategies to help manage risk
Remember that your variable annuity investment options are subject to market fluctuation, investment risk and possible
loss of principal.
Allocation funds
Allocation funds are designed to provide a simple yet powerful investment strategy of active management. With an allocation
fund, a money manager can diversify by adding a security, asset class or investment style to support the fund’s objective.
Tactical funds
Certain investment options may allocate to a range of underlying asset classes, but follow a more tactical, short-term
approach to investing. These funds continually make adjustments in response to market conditions, and try to take
advantage of opportunities and defend against losses.
Index funds
For a lower-cost approach, you can select investment options that purchase exchange traded funds (ETFs) which track the
performance of a market index.
Customize your own portfolio
With your representative’s help, you can customize an investment portfolio using the full range of 36 investment options
covering a wide spectrum of asset classes and allocation strategies.2
1
Fixed period options may not be available in all states, and premium limits may apply. All guarantees are based on the claims-paying ability of
Transamerica Life Insurance Company.
2
Investment options may not be available in all states or with all riders. See your prospectus for details.
4 MEMBERS® LANDMARKSM VARIABLE ANNUITY
Invest with well-known managers
Investment options are managed by professional investment managers who have been carefully chosen as specialists
in specific asset classes and investment styles. All investment firms are highly recognized within the industry, and adhere
to a consistent and disciplined investment process.1
Fixed account safety and guarantees
To help provide safety of principal and a guaranteed return, premium may also be allocated to the Fixed Account with a current
1.50% guaranteed minimum interest rate. During periods of low investment yields, Transamerica reserves the right to suspend
or limit premiums allocated to the Fixed Account. Check with your representative for current status and rates. All guarantees
are based on the claims-paying ability of Transamerica Life Insurance Company.
1
Investment options may not be available in all states or with all riders. See your prospectus for details. The investment adviser for the underlying portfolios in which
the Transamerica investment options invest is Transamerica Asset Management, Inc. Vanguard is the manager of the underlying ETFs in the TA Vanguard ETF
Index investment options. Vanguard, the ship logo, and Vanguard ETFs are trademarks of The Vanguard Group.
Flexible choices, confidence of guarantees 5
Protect your beneficiaries.
The MEMBERS® LandmarkSM Variable Annuity provides important guarantees to help protect your loved ones if you should die
before you begin receiving annuity payments. Some protection features are standard with your policy, while others are optional
and can be purchased for an additional cost.1 All guarantees are based on the claims-paying ability of Transamerica Life
Insurance Company.
Guaranteed death benefit options
When you buy your annuity, you can choose one of two guaranteed minimum death benefits:
Return of Premium
Available to annuitants ages 0 to 85, this benefit guarantees your beneficiaries will receive the greater of:
•T
otal premiums less adjusted partial withdrawals, or
•P
olicy value on the date death proceeds are calculated
This benefit is provided through the standard annual mortality, expense and administrative (M&E&A) charge of 1.30%,
which is deducted daily in proportion from your selected investment options.
Annual Step-up
Available only to annuitants ages 0 to 75 at time of purchase, this provides beneficiaries the greater of:
•T
otal premiums less adjusted partial withdrawals,
• Policy value on the date death proceeds are calculated, or
•H
ighest policy value on any anniversary prior to the annuitant turning 81, plus premiums paid and less adjusted partial
withdrawals since that highest anniversary
This benefit is provided through an annual mortality, expense and administrative (M&E&A) charge of 1.50%, which is
deducted daily in proportion from your selected investment options. Step-ups to highest policy value stop at age 81.
1
State variations may apply.
6 MEMBERS® LANDMARKSM VARIABLE ANNUITY
Optional death benefit riders
You may also select one of two riders to increase the financial legacy for your beneficiaries. They include:
Additional Death DistributionSM (ADDSM)
For annuitants ages 0 to 80, your beneficiary can receive an additional:
• 40% of rider earnings1 if the annuitant is age 70 or younger on the rider issue date, or
• 25% of rider earnings1 if the annuitant is age 71 to 80 on the rider issue date
The annual rider fee is 0.25% of policy value deducted on each rider anniversary and pro-rated at rider termination.
No benefit is payable if there are no rider earnings on the date death proceeds are calculated.
Additional Death Distribution+SM (ADD+SM)
For annuitants ages 0 to 75, beneficiaries can receive an additional death benefit based on how much time has passed
since the rider issue date:
•F
or the first five years, the benefit is a return of all ADD+SM rider fees
• After five years, the additional benefit is:
-3
0% of policy value (less premiums added after rider issue) if the annuitant is age 70 or younger on the rider issue date, or
- 20% of policy value (less premiums added after rider issue) if the annuitant is age 71 to 75 on the rider issue date
The annual rider fee is 0.55% of policy value deducted on each rider anniversary and pro-rated at rider termination.
No benefit is payable if policy value is less than premiums added after rider issue as of the date death proceeds
are calculated.
Spousal continuation
A spouse who is named as sole beneficiary may continue the policy without current taxes at the death of the annuitant.2
And if the ADD SM or ADD+SM rider was in place at the annuitant’s death, the spouse may receive a one-time increase to policy
value. The spouse then has the flexibility to immediately reelect a death benefit rider on the continued policy, based
on the rider’s issue age requirements.
1
Earnings are any policy gains accrued and not previously withdrawn since the rider issue date.
2
All references to spouse may include civil union partners, registered domestic partners or other similar relationships as recognized by your state. Please contact a
qualified tax adviser prior to purchasing to discuss how these relationships will be recognized for tax purposes.
Flexible choices, confidence of guarantees 7
John and Laura have the security of income for life — and the freedom to
decide when it starts. They’ve added the Retirement Income ChoiceSM 1.6
rider to John’s contract. Now they can pursue growth opportunities and
worry less about what a down market might mean to their future
retirement income.
Protect your income.
With the MEMBERS® LandmarkSM Variable Annuity, you can purchase a living benefit rider and receive guaranteed retirement
income while you participate in the growth opportunities of the market.
A guarantee that meets your needs
You have the flexibility to select one of four living benefit riders to meet your need for guaranteed retirement income. Riders are
optional and available for an additional cost. You can add a rider at the time your annuity is purchased or down the road, based
on the issue age requirements. With the confidence of steady income, you have the chance to relax and enjoy retirement while
you remain invested in the market.1 Guaranteed income under a rider is based on your Withdrawal Base. Note that a rider’s
Withdrawal Base, and any automatic step-up to the Withdrawal Base (see below), will not affect policy value, surrender value,
minimum death benefit or return for any investment option.
Retirement Income ChoiceSM 1.6
For issue ages 0 to 85, the Retirement Income ChoiceSM 1.6 rider provides the ability to withdraw a percentage of your annuity’s
Withdrawal Base2 every year for life, while you stay invested in the market’s growth potential. All guarantees are based on the
claims-paying ability of Transamerica Life Insurance Company. You choose when to start lifetime withdrawals and receive:
• Withdrawal percentages based on your age at the time you begin lifetime income. If you elect the joint life option, withdrawal
percentages are based on the younger person’s age.3
Age
Single life
annual withdrawal %
Joint life
annual withdrawal %
59-64
4.0%
3.5%
65-79
5.0%
4.5%
80+
6.0%
5.5%
• Opportunity in up markets — lock in market gains each year based on the highest of 12 monthly policy values — your
MonthiversarySM. When the MonthiversarySM value exceeds your current Withdrawal Base, an automatic step-up increases
the Withdrawal Base, allowing your guaranteed rider income to grow.4
1
iders may not be available in all states. Certain riders may require you to choose from a list of designated investment options, while others allow an open allocation
R
from the full range of subaccounts. See your prospectus for details.
² Withdrawals of taxable amounts are subject to ordinary income tax and prior to age 59½ may be subject to a 10% federal premature distribution penalty tax. If the rider
is added at issue, your initial premium establishes the Withdrawal Base (WB). If the rider is added after issue, the WB is set to current policy value. Additional premium
payments increase your WB. The WB does not establish or guarantee policy value, surrender value, minimum death benefit or return for any investment option.
3
ll references to spouse may include civil union partners, registered domestic partners or other similar relationships as recognized by your state. Please contact a
A
qualified tax adviser prior to purchasing to discuss how these relationships will be recognized for tax purposes.
4
Withdrawal percentages increase when a step-up occurs and you enter a new age group.
8 MEMBERS® LANDMARKSM VARIABLE ANNUITY
• Protection in down markets — for up to 10 years, if you do not receive a
step-up and take no withdrawals in a given year, your Withdrawal Base grows
at an annual 5% compound rate.1 Your guaranteed rider income can grow
even when the market doesn’t.
• The option to add the Income EnhancementSM benefit, which allows the rider
withdrawal percentage to increase to 150% of the current rider withdrawal
percentage when confined to a qualifying facility due to a medical necessity.2
The benefit is available for a fee of 0.30% for single life or 0.50% for joint
life, in addition to the base rider fee.
• An opportunity to add a rider Death Benefit which could enhance your
financial legacy. The rider Death Benefit equals policy value on the rider
issue date, plus any additional premiums and less adjusted withdrawals,
where withdrawals up to the rider withdrawal amount are always adjusted
on a “dollar-for-dollar” basis. The benefit is available for a fee of 0.40% for
single life or 0.35% for joint life, in addition to the base rider fee.
The rider’s annual fee ranges from 0.70% to 2.40% of your Withdrawal Base, depending on the investment options and rider
benefits you select, and is deducted quarterly. The rider fee percentage may increase upon automatic step-up beginning with
the fifth rider anniversary, but will never be more than 0.75% higher than the initial rider fee percentage.3 Investment options
are restricted. See your prospectus for details.
Retirement Income MaxSM
If you’re looking to maximize your lifetime income, the Retirement Income MaxSM rider gives you the opportunity to withdraw a fixed
percentage of your Withdrawal Base4 every year, no matter what may happen in the markets. All guarantees are based on the
claims-paying ability of Transamerica Life Insurance Company. Available for ages 0 to 85, with Retirement Income MaxSM you receive:
• Highly competitive withdrawal percentages based on your age at the time of first withdrawal. If you elect the joint life
option, withdrawal percentages are based on the younger person’s age.5
Age
Single life
annual withdrawal %
Joint life
annual withdrawal %
59-64
4.3%
3.8%
65-79
5.3%
4.8%
80+
6.3%
5.8%
•O
pportunity in up markets — lock in market gains each year based on the highest of 12 month policy values — your
Monthiversary.SM When the MonthiversarySM value exceeds your current Withdrawal Base, an automatic step-up
increases the Withdrawal Base, allowing your guaranteed rider income to grow.6
•P
rotection in down markets — for up to 10 years, if you do not receive a step-up and take no withdrawals in a given year,
your Withdrawal Base grows at an annual 5% compound rate.1 Your income can grow even when the market doesn’t.
The rider’s annual fee is 1.25% of your Withdrawal Base, and is deducted quarterly. The rider fee percentage may increase
upon automatic step-up, but will never be more than 0.75% higher than the initial rider fee percentage.3 Investment
options are restricted. See your prospectus for details.
1
The 10-year growth period does not reset at the time of automatic step-up.
2
The Income EnhancementSM benefit may not be available in all states. See your prospectus for details about adding or activating the benefit and restrictions that may
apply. This is not long-term care insurance. Contact your elder care attorney regarding your personal situation.
3
Because the rider fee is a percentage of the Withdrawal Base, the amount of the fee will fluctuate as the Withdrawal Base increases or decreases. Should your policy
value decline significantly, the fee could be a much higher percentage of the policy value.
4
Withdrawals of taxable amounts are subject to ordinary income tax and prior to age 59½ may be subject to a 10% federal premature distribution penalty tax. If the rider
is added at issue, your initial premium establishes the Withdrawal Base (WB). If the rider is added after issue, the WB is set to current policy value. Additional premium
payments increase your WB. The WB does not establish or guarantee policy value, surrender value, minimum death benefit or return for any investment option.
5
All references to spouse may include civil union partners, registered domestic partners or other similar relationships as recognized by your state. Please contact a
qualified tax adviser prior to purchasing to discuss how these relationships will be recognized for tax purposes.
6
Withdrawal percentages increase when a step-up occurs and you enter a new age group.
Flexible choices, confidence of guarantees 9
Income LinkSM
You may be considering delaying your pension, Social Security or withdrawals from other retirement assets, in order to increase
benefits for the future. If so, the Income LinkSM rider can help provide the phased approach to guaranteed income that you’re
seeking. All guarantees are based on the claims-paying ability of Transamerica Life Insurance Company. You have the opportunity
to withdraw a high initial percentage of your Withdrawal Base for a set number of years followed by 4% withdrawals for life.1
Available for ages 55 to 80, Income LinkSM provides:
• Income solutions that allow you to wait before starting retirement benefits or drawing from other assets, with a choice of
six initial withdrawal percentages and time periods before linking to lifetime income. If you elect joint income, withdrawal
percentages are 0.50% lower than those shown.2
Single Life Withdrawal Options3
10% for 2 years
4% thereafter for life
9% for 3 years
4% thereafter for life
8% for 4 years
4% thereafter for life
7% for 5 years
6% for 6 years
5% for 7 years
4% thereafter for life
4% thereafter for life
4% thereafter for life
• Opportunity in up markets — lock in market gains each year based on the highest of 12 monthly policy values — your
Monthiversary.SM When the MonthiversarySM value exceeds your current Withdrawal Base, an automatic step-up increases
the Withdrawal Base, allowing your guaranteed income to grow.
• Protection in down markets — your rider income can never go down due to market declines, as long as you do not exceed the
maximum annual rider withdrawal amount.
The rider’s annual fee is 0.90% of your Withdrawal Base, and is deducted quarterly. The rider fee percentage may increase upon
automatic step-up, but will never be more than 0.75% higher than the initial rider fee percentage.4 Investment options are
restricted. See your prospectus for details.
Remember that as with most financial planning issues, there are advantages and disadvantages to starting or delaying Social Security
benefits, pension payments or tapping into other assets. Before making a decision, you and your financial representative should
discuss these considerations, including life expectancy, health status and the potential impact of taxes in a rising tax environment.
1
ithdrawals of taxable amounts are subject to ordinary income tax and prior to age 59½ may be subject to a 10% federal premature distribution penalty tax. If the rider
W
is added at issue, your initial premium establishes the Withdrawal Base (WB). If the rider is added after issue, the WB is set to current policy value. Additional premium
payments increase your WB. The WB does not establish or guarantee policy value, surrender value, minimum death benefit or return for any investment option.
2
Joint life income is not limited to the annuitant’s spouse in New Jersey. All references to spouse may include civil union partners, registered domestic partners or other similar
relationships as recognized by your state. Please contact a qualified tax adviser prior to purchasing to discuss how these relationships will be recognized for tax purposes.
3
Years for the first phase of income refer to Income LinkSM Rider Withdrawal Years.
4
ecause the rider fee is a percentage of the Withdrawal Base, the amount of the fee will fluctuate as the Withdrawal Base increases or decreases. Should your policy
B
value decline significantly, the fee could be a much higher percentage of the policy value.
10 MEMBERS® LANDMARKSM VARIABLE ANNUITY
Protect your principal and income.
The fourth living benefit available with the MEMBERS® LandmarkSM Variable
Annuity offers three powerful guarantees in one rider.
Three in one
You can receive a measure of principal protection or select from two
different options for guaranteed income. The choice is yours.
Guaranteed Principal SolutionSM (GPSSM)
The optional GPSSM rider delivers principal protection and the opportunity
to receive steady retirement income.1 When the GPSSM rider is purchased
at the time you buy your annuity, your initial premium establishes your
Guaranteed Future Value and your Total Withdrawal Base.2 These amounts
then determine the value of your guarantee. All guarantees are based on
the claims-paying ability of Transamerica Life Insurance Company. Available
for ages 0 to 80, the GPSSM rider provides:
•P
rincipal protection — if on the 10th rider anniversary your investment
options have performed poorly, Transamerica will make up the loss with
a one-time payment, increasing policy value to equal your Guaranteed
Future Value.
• 7% “Principal Back” withdrawals — if you prefer a return of your principal
as steady income, the rider allows you to withdraw up to 7% of your
“Principal Back” Total Withdrawal Base each year until you’ve received
income that totals your principal, regardless of the performance of your
investment options.
• 5% “For Life” withdrawals — if lifetime income is what you’re looking for, on
the rider anniversary after your 59th birthday you can begin withdrawing up
to 5% of your “For Life” Total Withdrawal Base each year for life.
With the GPSSM rider, you can switch between the two withdrawal guarantee
options or start and stop withdrawals as your needs change. The rider
also provides:
• Potential to upgrade — if your investment options perform well, you may
want to upgrade to receive higher benefits. Any time after the rider’s third
anniversary and before the annuitant turns age 86, you can upgrade to a
new GPSSM rider. The Guaranteed Future Value and Total Withdrawal Base of
your new rider are reset to the policy’s current value.3
The rider’s annual fee is 0.90% of your “Principal Back” Total Withdrawal Base.4
1
The Guaranteed Principal SolutionSM rider is referred to as the Living Benefit Rider in the prospectus.
2
ithdrawals of taxable amounts are subject to ordinary income tax and prior to age 59½ may be subject to a 10% federal premature distribution penalty tax. If the rider
W
is added at issue, your initial premium establishes your Guaranteed Future Value (GFV) and Total Withdrawal Base (TWB). If the rider is added after issue, the GFV
and TWB are set to current policy value. Additional premium payments increase your TWB by the premium amount and your GFV by a percentage of the premium
amount, depending on the year received. See your prospectus for details. The TWB does not establish or guarantee policy value, surrender value, minimum death
benefit or return for any investment option.
3
Rider fee and features in effect at the time of the upgrade will apply.
4
Because the rider fee is a percentage of the Total Withdrawal Base, the amount of the fee will fluctuate as the Total Withdrawal Base increases or decreases. Should
your policy value decline significantly, the fee could be a much higher percentage of the policy value.
Flexible choices, confidence of guarantees 11
Choose a plan that meets your needs.
You may purchase the MEMBERS® LandmarkSM Variable Annuity with non-qualified or qualified dollars. Non-qualified contracts
may be established with money from an existing life insurance or annuity contract, a checking or savings account or a
redemption from a certificate of deposit or mutual fund. Qualified annuities can be purchased as a traditional IRA, Roth IRA,
SIMPLE IRA or SEP IRA. Or, you may rollover money from an employer-sponsored retirement plan like a 401(k) or transfer
dollars from an IRA you have inherited from another IRA owner into a beneficiary IRA.
Annuity tax advantages
Regardless of how you purchase your variable annuity, you receive the powerful benefit of tax deferral. No taxes are paid on
your earnings until withdrawn. However, there are no additional tax deferral benefits when an annuity is purchased as an IRA
or other tax-qualified plan, since those plans already provide for tax deferral.
Fees and charges
Your annuity features the following annual charges:
• No front-end sales charges; all premiums are invested into the subaccounts you choose
•M
ortality, expense and administrative (M&E&A) charge of 1.30% for the Return of Premium death benefit or 1.50%
for the Annual Step-up death benefit
• Service charge of $35 (waived for premiums paid less withdrawals or policy values of $50,000 or more)
• Investment management fees that vary based on investment options selected
• Fund facilitation fee up to 0.30% for certain investment options
•S
urrender charges, which are applied to each premium payment based on the number of years since the payment
was received
Year of premium payment
Surrender charge
1
2
3
4
5
6
7
8+
8%
8%
7%
6%
5%
4%
3%
0%
•F
ull and partial surrenders from the Fixed Account may be subject to an excess interest adjustment, which may increase
or decrease1 the amount of the withdrawal
Remember that any withdrawals, including those permitted under a living benefit rider, reduce your variable annuity’s
policy value, death benefit and other values.
¹ The adjustment will not decrease the interest credited below the guaranteed minimum interest rate.
12 MEMBERS® LANDMARKSM VARIABLE ANNUITY
Access to your money
There are several ways to withdraw a portion of your policy’s value before
annuity payments begin, without being subject to surrender charges. You may:
• Withdraw the greater of 10% of total premium payments or your earnings
each policy year without surrender charges. Minimum withdrawal is $500.
Note that excess interest adjustments apply to Fixed Account withdrawals
made prior to the end of the guarantee period.
• Hardship withdrawals1 — you can withdraw any amount of your policy’s
value if you become unemployed, are diagnosed with a terminal illness or
are confined to a nursing facility or hospital. Minimum withdrawal amounts
and proof of hardship requirements apply. See your prospectus for details.
• Systematic withdrawals — you can automatically withdraw money on a
monthly, quarterly, semi-annual or annual basis, up to the greater of policy
gains or 10% of total premiums. Taxes will apply to earnings withdrawn.
1
Income taxes and a 10% federal penalty for premature distributions prior to age 59 ½ could still apply. Hardship withdrawals may not be available in all states, and state
law may require modification of the policy’s provisions.
Flexible choices, confidence of guarantees 13
Commonly asked questions.
How can I purchase the MEMBERS® Landmark SM Variable Annuity?
Your annuity can be established as a traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, or as a non-qualified annuity. If you
are the beneficiary of another IRA, you may be able to establish a beneficiary (inherited) IRA. In some instances, if you are
the beneficiary of a non-qualified annuity, you may be able to elect an option known as a non-qualified “stretch” annuity.
What is the maximum issue age?
The owner and annuitant may be up to age 85 on their last birthday at the time of purchase. An owner must be at least
the age of majority, as defined by your state. Optional riders have their own age requirements.
What is the minimum initial premium required?
You can open your variable annuity with a premium of $5,000 for non-qualified plans or $1,000 for qualified plans
such as IRAs.
Can I add more money after the policy is issued?
Yes. You may add as little as $50 any time during the accumulation phase.
How long must I wait to annuitize the policy?
Payouts from your variable annuity may begin as soon as 30 days after issue. You have a number of payout choices
available when you choose to enter the income phase. You may select from fixed payment options, variable payment
options or a combination of both.
What happens to a rider on my annuity commencement date?
The maximum annuity commencement date is generally age 95, and it marks the date when the policy is required to “annuitize”
and move into the income phase. On this date, any death benefit or living benefit rider terminates. For any living benefit rider,
you will have the option to receive lifetime payments that are no less than the withdrawals allowed by the rider.
14 MEMBERS® LANDMARKSM VARIABLE ANNUITY
When must money be taken out?
The latest annuity payout date for non-qualified policies is generally the month following the annuitant’s 95th birthday. For
qualified contracts, the IRS requires that distributions from most plans begin when you reach age 70 1/2 . If not enough money
is withdrawn, a 50% excise tax may apply. Establishing a systematic withdrawal program to take your Required Minimum
Distribution (RMD) assures that we will distribute the appropriate amount to you automatically and report the payments to
the IRS. Should required distributions exceed the policy’s allowable amount, we will also waive surrender charges.
What if I need income before age 59½?
If you need income before age 59 1/2 , we can help you establish a systematic
withdrawal plan that meets IRS guidelines. Because withdrawals based on life
expectancy are generally viewed by the IRS as “substantially equal payments,”
they are not subject to the 10% penalty tax. Regular payments must continue
to age 59 1/2 or for five full years, whichever is longer.
What is the minimum guaranteed interest rate on
the Fixed Account?
The minimum guaranteed interest rate is currently 1.50%. Transamerica
does not guarantee the Fixed Account will always be available for investment,
especially during periods of low market yields. Check with your representative
for availability and current rates.
Ask your representative to show you how the MEMBERS®
Landmark SM Variable Annuity can help you plan for the
future with confidence.
Flexible choices, confidence of guarantees 15
Annuities are long-term insurance products that can be used
for a savings vehicle and for retirement purposes. Before
investing, consider a variable annuity’s investment objectives,
risks, charges and expenses. Call 800.525.6205 for a contract
and fund prospectus containing this and other information.
Please read it carefully.
All contract and rider guarantees, including optional benefits and any fixed
subaccount crediting rates or annuity payout rates, are backed by the claimspaying ability of Transamerica Life Insurance Company.
Variable annuity policy values, death benefits and other values fluctuate based on
the performance of the investment options and may be worth more or less than the
total of all premiums paid when surrendered.
Withdrawals may be subject to surrender charges. Withdrawals of taxable amounts
are subject to ordinary income tax, and if taken before age 59 1/2 may be subject to a
10% federal tax penalty.
If you are considering purchasing an annuity as an IRA or other tax-qualified plan,
you should consider benefits other than tax deferral since those plans already
provide tax-deferred status. Transamerica Life Insurance Company does not provide
tax or legal advice. Contact a licensed professional.
MEMBERS® is a registered trademark of CMFG Life Insurance Company. LandmarkSM,
Additional Death DistributionSM, Additional Death Distribution+SM, Retirement Income
ChoiceSM, MonthiversarySM, Income EnhancementSM, Retirement Income MaxSM,
Income LinkSM and Guaranteed Principal SolutionSM are registered service marks of
Transamerica Life Insurance Company.
Insurance products are issued by Transamerica Life Insurance Company. Variable
products are underwritten and distributed by Transamerica Capital, Inc. Investment
and insurance products are not federally insured, may involve investment risk,
may lose value and are not obligations of or guaranteed by the financial institution.
All policies, riders and forms may vary by state, and may not be available in all
states or through all brokers/dealers. AV920 101 168 603, AV924 101 168 603, Oregon
AV1068 101 168 603, RGMB 4 0504, RGMB 4 0504 (FL), RGMB 4 0505 (OR) (R09),
RGMD 8 0603, RGMD 8 0603 (OR), RGMD 5 0103, RGMD 5 0103 (FL), RGMD 5 0103
(OR), RGMB 37 0809, RGMB 38 0809, RGMB 37 0809(IS)(FL), RGMB 38 0809(IS)
(FL), other versions also available, RGMB 37 0912R (IS)(OR), RGMB 37 0912R (IJ)(OR),
RGMB 37 0912R (AS)(OR), RGMB 37 0912R (AJ)(OR), RGMB 38 0912R (IS)(OR), RGMB
38 0912R (IJ)(OR), RGMB 38 0912R (AS)(OR), RGMB 38 0912R (AJ)(OR), RTP 17 0103,
RTP 17 0103 (OR), RTP 18 0103, RTP 18 0103 (OR), RGMB 39 0110, RGMB 39 0110 (IS)
(FL), RGMB 39 0110 (IJ)(FL), RGMB 39 0110 (IS)(OR), RGMB 39 0110 (IJ)(OR), RGMB 41
0111, RGMB 41 0111 (IS) (FL), RGMB 41 0111 (IJ) (FL), RGMB 41 1211R (IS)(OR), RGMB 41
1211R (IJ)(OR).
Transamerica Life Insurance Company
4333 Edgewood Road NE
Cedar Rapids, IA 52499
www.transamericaannuities.com
10002052-0912
©CUNA Mutual Group
Rev 0912