| Introduction | |
|---|---|
| Type of Product | Variable Annuity |
| Product Name | Intelligent Variable Annuity |
| Offered by | TIAA-CREF |
| Company Info | TIAA-CREF has a long-standi... read more |
| Contract and Purchasing | |
|---|---|
| Minimum Premium Payment | 2500 |
| Minimum Additional Premium Payment | 50 |
| Investments | |
|---|---|
| Total Number of Investment Options | 44 [Find annuities with more investment options] |
| Fixed Account |
|---|
| Features and Benefits | |
|---|---|
| Free Withdrawals | Yes |
| Free Withdrawal Limit | 100 |
| Guaranteed Death Benefit | Available |
| Are Telephone Transactions Allowed | Yes |
| Fees and Expenses | |
|---|---|
| Minimum Total Fees and Expenses | 0.34 [Find annuities with lower fees and expenses] |
| Maximum Total Fees and Expenses | 2.08 [Find annuities with lower fees and expenses] |
| Minimum Mortality and Expense Risk Charge "M&E Fee" | 0.15 [Find annuities with lower mortality and expense fees] |
| Maximum Mortality and Expense Risk Charge "M&E Fee" | 0.4 [Find annuities with lower mortality and expense fees] |
| Administrative Fee | 25.00 [Find annuities with lower administrative fees] |
| Contract Maintenance Fee | 0.1 [Find annuities with lower contract maintenance fees] |
| Early Withdrawal Charges / Surrender Fees | Request Access |
| Minimum Investment Management Fee | 0.09 [Find annuities with lower investment management fees] |
| Maximum Investment Management Fee | 1.58 [Find annuities with lower investment management fees] |
| Sales Compensation |
|---|
| Contact Information | |
|---|---|
| Company Offering | TIAA-CREF |
| Company Type | Insurance Company |
| Phone Number | 800 842-2252 |
| Website | www.tiaa-cref.org |
| Talk to a Financial Advisor | |
|---|---|
| Contact Information | Connect with a Financial Advisor |
| Reviews and Ratings | |
|---|---|
| Average Review | 4.2/5 from 5 Reviews |
|
Rating:
4 Average: 4 (1 vote) I cannot seem to find any information on the surrender charge schedule for this product. Can anyone point me in the right direction? I am interested, but would like to know how long the money needs to stay there before it is free and clear of any fees. I assume that the withdrawal charges are sort of industry standard. Also would like to be able to find information about any living benefits that might come with this product. I like the TIAA name and cost structure but need to know more. |
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Rating:
5 Average: 5 (1 vote) This product has some of the lowest investment management fees in the industry. Investment costs are as low as nine basis points. This is in the range of your average exchange traded fund and likely lower than most indexed fund offerings from the likes of Vanguard. Someone should bring this annuity to Suze Orman's attention. Maybe then she would stop railing on the high fees associated with variable annuities. I agree with the reviewer who questions TIAA-CREF's distribution of products. The market and financial services consumers would benefit from having more low cost products such as the Intelligent VA from TIAA in the marketplace. Overall a product I would be happy to recommend to a family member. |
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Rating:
4 Average: 4 (1 vote) I would actually give this product 3.5 rather than 4 stars. Yes the expenses are low. Yes low expenses are super important--especially when it comes to variable annuties and all the layers upon layers of fees that can come with them. Yes TIAA-CREF is a superb company with a strong history of supporting financial services consumers. My problem with the product and the reason for 3.5 stars is that it does not have enough investment options. There are only 40 or so options available. Some variable annuity products on the market have 100-200 different investment options. This is important for financial advisors who have customers that expect them to create asset allocation plans for them. More investment options = better product and 5 stars in my book. |
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Rating:
3 Average: 3 (1 vote) I agree that the TIAA variable annuity has one of the best (best from a customer's perspective) expense structures on the market. But why isn't this product more widely available? TIAA-CREF's product distribution is such a mystery. Do they just allow products to be sold through their own reps? Are TIAA annuity products available to for sale through independent financial advisors or banks? What about sales made directly to consumers by TIAA? They seem like great products and the company has an outstanding reputation. It would be helpful if TIAA was more clear about their sales processes--for both consumers and financial advisors alike. |
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