09/24

TRANSAMERICA FINANCIAL CHOICE IULSM II

 TRANSAMERICA FINANCIAL CHOICE IULSM II

LIFE INSURANCE BUILT FOR

TAX-ADVANTAGED CHOICE
AND FLEXIBILITY
Living your best life means knowing your options. As you climb into
a higher tax bracket and maximize your contributions to tax-deferred
qualified plans, you may need a solution that minimizes the impact taxes
and market volatility have on your assets. One that provides upside
potential with downside protection, so you can fuel growth, faster.

That’s where the Transamerica Financial Choice IUL II (FCIUL II) comes in.

FCIUL II is index universal life insurance designed to provide you

choice and flexibility through tax-free1 supplemental income.
FCIUL II offers life insurance protection and a variety of index
options and policy features to help maximize accumulation
potential and make it easy to access cash value.

Index universal life insurance is not a security, and index universal life insurance
policies are not an investment in the stock market or in financial market indexes. Index
account interest is based, in part, on index performance. Past performance of an index is not an
indication of future index performance.
There is no guarantee that any excess index interest will be credited above the guaranteed minimum
interest rate for the index account(s). Additionally, there is no guarantee that the company will declare
an interest rate greater than the guaranteed minimum interest rate for the Basic Interest Account.

TOP

5%
of taxpayers account for 36% of total
income and pay the majority of total
income taxes (59%).2

1
Loans, withdrawals, and death benefit accelerations will reduce the policy value and death benefit. Provided the policy is not and does not become a modified endowment
contract (MEC), 1) withdrawals are tax-free to the extent that they do not exceed the policy basis (generally, premiums paid less withdrawals) and 2) policy loans are tax-free as
long as the policy remains in force. If the policy is surrendered or lapses, the amount of the policy loan will be considered a distribution from the policy and will be taxable to the
extent that such loan plus other distributions at that time exceed the policy basis.
2
2
Summary of the Latest Federal Income Tax Data, Tax Foundation, January 2022
 MAJOR FINANCIAL RISKS

1. Taxes Managing taxes and limiting your exposure to

market volatility can help you build wealth now
2. Market Volatility and in the future.

For individuals needing life insurance protection, a flexible premium1 index universal
life insurance policy offers the following benefits:

Build cash value through Tax-free4 supplemental

index-linked growth income opportunity
An FCIUL II policy systematically builds Flexible, tax-free4 access to cash
cash value2 as you make premium value helps reduce the effects
payments over time. of taxes while giving you financial
• Versatile index options for tax-deferred flexibility to use however you wish.
growth potential • Tax-free4 loans and withdrawals
• Guaranteed3 downside protection • Tax deferral on any earnings
• Tax-free transfers between account options

Life insurance protection

When you die, the death benefit from FCIUL II may help replace income, fund major
expenses, or leave a financial legacy for your children or grandchildren.
• Federal income tax-free death benefit
• Optional living benefit riders for qualifying critical, chronic, and/or terminal illnesses5, 6
• Flexibility for additional coverage options for you and other family members on one policy5

Providing a better lifestyle for your loved ones doesn’t necessarily begin and end with leaving
them money when you die. Creating a personal plan using cash-value life insurance can give you
and your family tax-free access to the cash value of your policy at any time, for any use.

1
Premiums may be increased, decreased, skipped, or stopped altogether if there is enough policy value. The risk of a policy lapsing increases if you do not regularly pay
premiums equal to at least the current minimum monthly no lapse premium.
2
Premium payments must exceed monthly charges and fees in order for cash value to grow.
3
Guarantees are based on the claims-paying ability of the issuing insurance company.
4
Loans, withdrawals, and death benefit accelerations will reduce the policy value and death benefit. Provided the policy is not and does not become a modified endowment
contract (MEC), 1) withdrawals are tax-free to the extent that they do not exceed the policy basis (generally, premiums paid less withdrawals) and 2) policy loans are tax-free
as long as the policy remains in force. If the policy is surrendered or lapses, the amount of the policy loan will be considered a distribution from the policy and will be taxable
to the extent that such loan plus other distributions at that time exceed the policy basis. Please consult with and rely on your tax advisor regarding your particular situation.
5
Riders are available at an additional cost. Riders and rider benefits have specific limitations and may not be available in all jurisdictions. Benefits paid under accelerated
death benefit riders will reduce the life insurance policy’s values. For complete details including the terms and conditions of each rider and exact coverage provided, please
refer to the riders.
6
Benefits provided through the Critical, Chronic, and Terminal Illness Accelerated Death Benefit Riders are subject to certain limitations and exclusions. The actual
benefit paid to the policy owner will be less than the amount that is accelerated because the amount is discounted to reflect early payment of the policy’s death benefit.
Administrative fees per request apply. Amounts payable under the Critical and Chronic Illness Riders vary based in part on the nature and severity of the insured’s health
condition and the insured’s remaining life expectancy at the time of the acceleration as determined by the company. Riders should not be the sole basis to purchase any life
insurance policy. Benefits paid under accelerated death benefit riders will reduce the life insurance policy’s death benefit and policy value. Consideration should be given to
whether life insurance needs would still be met if rider benefits are paid out in full. Internal Revenue Code rules apply. Consult your tax or legal professional for guidance.
3
 Do you need life Have you maxed
insurance death out your retirement
benefit protection? account contribution?

Are you unable to contribute

to certain types of accounts
due to your citizenship, tax
filing status, or high income? Do you have discretionary
cash that can be allocated
to different assets?

A CASH VALUE LIFE INSURANCE POLICY

MAY HELP YOU:
• Create a flexible source of cash to self-fund large expenses
• Prepare for a loved one’s education without impacting their ability to qualify for financial aid
• Access tax-free income in retirement during down markets or when retirement accounts have lost value
• Set aside after-tax dollars for retirement if your income level prevents you from contributing to a
Roth IRA
• Build a diversified and tax-efficient retirement distribution plan
• Fund your new business or grow your expanding one
• Navigate complex foreign national estate planning situations

OTHER CONSIDERATIONS
Remember that cash value life insurance has many other elements you should review carefully
before selecting a life insurance policy. Please keep these important points in mind:
• If you do not keep paying the premium on a life insurance policy, you will lose substantial money
in early years.
• To be effective, a life insurance policy needs to be held in force until death
• A life insurance policy generally takes years to build up a substantial cash value
• Withdrawals will reduce cash value and the face amount of the policy
• You may need to pay higher premiums in later years to keep the policy from lapsing
• You’ll have to qualify medically and financially for life insurance, unlike a Roth IRA
• Generally, there are many additional charges associated with a life insurance policy, including,
but not limited to, a monthly administrative charge, index account monthly charge, cost of
insurance charge, additional benefit rider costs, and surrender charges

This policy is first and foremost a life insurance policy. The main purpose of the policy is to provide a death benefit. It is not a short-term savings vehicle nor is it
ideal for short-term insurance needs. It is designed to be long term in nature and should be purchased only if you have the financial ability to keep it in force for a
substantial period of time.
4
 INDEX ACCOUNT OPTIONS
BUILT FOR GROWTH POTENTIAL
FCIUL II offers a diverse mix of index FCIUL II offers:
accounts that provide choice and control. • Growth potential with competitive cap
Choose from domestic, global, and rates and protection from negative
market performance due to a 0.25% floor
proprietary indexes that offer competitive
• The opportunity to allocate cash value
or uncapped index account interest rates to among a variety of index options that
help maximize policy value accumulation. focus on different markets, assets,
geographies, and objectives
A HYPOTHETICAL EXAMPLE OF
HOW TWO DIFFERENT INDEX STRATEGIES WORK1

The sample index universal policy shown below illustrates how a policy would be credited interest using two
different index strategies, one with a 225% participation rate and no cap, and another one with a 15.5% cap.

Participation (Par) Rate Strategy: Cap Rate Strategy:

If the index change is +6%, the credit rate If the index change is +18%, the credit
would be 13.5% because of the 225% rate would be 15.5% because of the 15.5%
participation rate. If the index change is -6%, cap rate. If the index change is -10%, the
the credit rate would be 0.25% because of the credit rate would be 0.25% because of the
guaranteed 0.25% floor rate. guaranteed 0.25% floor rate.
20 20 20 20
18%
15.5% 15.5% Cap Rate
PERCENTAGE OF INDEX CHANGE PER YEAR

PERCENTAGE OF INDEX CHANGE PER YEAR

15 15
13.5%
10 10 10 10
6%
5 5 5 5
0.25% Guaranteed 0.25% Guaranteed
0.25% Floor 0.25% Floor
0 0

-5 -5 -5 -5
-6%
-10 -10 -10 -10
-10%
-15 -15 -15 -15

Sample Index Sample IUL Product

ACCOUNT OPTIONS
When you make a payment, we allocate the net premium2 to the index account(s) or the Basic Interest
Account, based on your instructions. These account options have the potential to earn interest on a tax-
deferred basis, increasing the cash value of the policy.3 You may opt to use a cash accumulation strategy that
allocates net premiums to more than one account option for the opportunity to earn different rates of interest.
Interest you receive may be reported to the IRS and considered taxable income.
1
Money can be allocated to the Basic Interest Account, which will earn the current interest rate set by the company and is guaranteed to never be less than 1%. The company
reserves the right to change the cap and participation rates, but these rates will never be less than the minimums stated in the policy.
2
Net premiums are equal gross premiums paid less applicable premium expense charges.
3
Monthly deductions and any index charges (Plus accounts only) will be taken from the policy to cover the cost of insurance, monthly policy fee, per unit charge, and charges for
any additional rider or substandard rating. 5
 ACCOUNT TYPES
THE BASIC INTEREST ACCOUNT is credited with a rate of interest declared by the Company.
The interest rate on the Basic Interest Account will never be less than an effective annual rate of 1%,
allowing you to earn positive interest at a guaranteed rate.

CAPPED UNCAPPED
S&P 500® Index Account Fidelity Small-Mid
S&P 500® Multifactor IndexSM
Plus Index Account Account

CAPPED UNCAPPED
Global Index Account Balanced Uncapped
Global Plus Index Account Index Account

GLOBAL INDEX ACCOUNT AND S&P 500® INDEX ACCOUNT AND

GLOBAL PLUS INDEX ACCOUNT S&P 500® PLUS INDEX ACCOUNT
INTEREST CREDITING METHOD INTEREST CREDITING METHOD
The company credits Excess Index Interest, if any, to these index The company credits Excess Index Interest, if any, to these
accounts based on a weighted average of the index change index accounts using a formula based on changes in the
percentages of three indexes, excluding dividends. S&P 500® Index, excluding dividends. The index change
The weighted index change percentages are added together and percentage is then compared to the cap.
compared to the cap. To arrive at the weighted index change
percentage, we apply the following factors:
FIDELITY SMALL-MID MULTIFACTOR

50% 30 % INDEX® ACCOUNT

INTEREST CREDITING METHOD
To the percentage change in
To the percentage the S&P 500® or the EURO The company credits Excess Index Interest, if any, to this
change in the STOXX® 50, whichever is lower index account using a formula based on changes in the
S&P 500® or the
Fidelity Small-Mid Multifactor IndexSM 5% ER, excluding
EURO STOXX® 50,
whichever is higher 20% dividends. The 225% participation rate is then applied
to the index change percentage.
To the percentage change
in the Nikkei 225SM

34% 33%
BALANCED UNCAPPED INDEX ACCOUNT
The company credits Excess Index Interest, if any, to this
To the percentage change To the percentage change
index account based on a weighted average of the index in the S&P 500® in the Fidelity Small-Mid
change percentages of three indexes, excluding dividends. Multifactor IndexSM 5% ER
The weighted index change percentages are added
together. The 110% participation rate is then applied. To
arrive at the weighted index change percentage, we apply
the following factors:
33%
To the percentage change
in the Nikkei 225SM

6
 CURRENT GUARANTEED MINIMUM INDEX ACCOUNT
INDEX ACCOUNT PARTICIPATION RATE CAP RATE INDEX ACCOUNT CREDIT CHARGE
Cap Rate Strategies
Global Index Account 100% 11.00% 0.25% No Charge
Global Plus Index Account 100% 15.50% 0.25% 1% Annually
S&P 500® Index Account 100% 9.25% 0.25% No Charge
S&P 500® Plus Index Account 100% 11.75% 0.25% 1% Annually
Participation Rate Strategies
Fidelity Small-Mid Multifactor IndexSM Account 225% Uncapped 0.25% No Charge
Balanced Uncapped Index Account 110% Uncapped 0.25% 0.15% Annually

The Fidelity Small-Mid Multifactor IndexSM 5% ER, also called the Fidelity SMID Multifactor IndexSM, FPS disclaims all warranties, express or implied, including all warranties of merchantability
(the “Index”) is a product of Fidelity Product Services LLC (“FPS”). It is a rules-based index that or fitness for a particular purpose or use. FPS shall have no responsibility or liability
utilizes a dynamic asset allocation approach which blends multiple factors with the characteristics whatsoever with respect to the policy.
of stocks of small and mid-capitalization U.S. companies along with U.S. Treasuries, which may The S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for
reduce volatility over time. Fidelity is a trademark of FMR LLC. The Index has been licensed for use use by the company. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard
for certain purposes by Transamerica Life Insurance Company (“the Company”) on behalf of the & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones
Transamerica Financial Choice IULSM II (“policy”). This index is based on an excess return design, Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI
meaning that index returns are netted against a risk-free return. It is a volatility controlled index, and sublicensed for certain purposes by the company. This policy is not sponsored, endorsed, sold,
which means that the index composition will change over time and in particular when market or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any
volatility changes. The effect of the excess return design and the volatility control may limit returns representation regarding the advisability of purchasing such policy, nor do they have any liability for
when equity index returns are high. any errors, omissions, or interruptions of the S&P 500® Index.
FPS does not make any warranty or representation as to the accuracy, completeness, or availability The EURO STOXX 50® (Index Trademark) is the intellectual property (including registered
of the Index or information included in the Index and shall have no responsibility or liability for trademarks) of STOXX Limited, Zurich, Switzerland (“STOXX”), Deutsche Börse Group or their
the impact of any inaccuracy, incompleteness, or unavailability of the Index or such information. licensors, which is used under license. This fixed indexed life product (“licensed product”) is neither
Neither FPS nor any other party involved in, or related to, making or compiling the Index makes any sponsored nor promoted, distributed, or in any other manner supported by STOXX, Deutsche Börse
representation or warranty, express or implied, to the policy owner, the Company, or any member of Group or their licensors, research partners, or data providers and STOXX, Deutsche Börse Group
the public regarding the advisability of purchasing life insurance generally or the policy particularly, and their licensors, research partners, or data providers do not give any warranty, and exclude any
the legality of the policy under applicable federal securities, state insurance and tax laws, the ability liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation
of the policy to track the performance of the Index, any other index or benchmark or general market to any errors, omissions, or interruptions in the EURO STOXX 50® or its data.
or other asset class performance, or the results, including, but not limited to, performance results, to
Nikkei Inc. is the sole exclusive owner of the copyright and other intellectual property rights in
be obtained by the Company, the policy, policy owners, or any other person or entity. FPS does not
the Nikkei Stock Average (Nikkei 225SM) itself and the methodology to calculate the Nikkei Stock
provide investment advice to the Company with respect to the policy, or to the policy owners.
Average. The intellectual property and any other rights in the marks to indicate Nikkei and the Nikkei
The Company exercises sole discretion in determining whether and how the policy will be linked 225SM shall be vested in Nikkei Inc.
to the value of the Index. FPS does not provide investment advice to the policy, the policy owners,
Nikkei Inc. does not sponsor, support, sell or market Transamerica Financial Choice IULSM II.
or any other person or entity with respect to the Index and in no event shall any policy owner be
Transamerica Financial Choice IULSM II is managed exclusively at the risk of the Transamerica Life
deemed to be a client of FPS.
Insurance Company, and Nikkei Inc. shall assume no obligation or responsibility for management of
Neither FPS nor any other party involved in, or related to, making or compiling the Index has any and transactions involving Transamerica Financial Choice IULSM II.
obligation to continue to provide the Index to the Company with respect to the policy. In the event
Nikkei Inc. shall not have the obligation to continuously announce the Nikkei 225SM and shall not be
that the Index is no longer available to the policy or policy owners, the Company may seek to replace
liable for any error, delay, interruption, suspension or cessation of announcement thereof. Nikkei
the Index with another suitable index, although there can be no assurance that one will be available.
Inc. shall have the right to change the description of the stocks included in the Nikkei 225SM, the
calculation methodology of the Nikkei 225SM or any other details of the Nikkei 225SM.

TAX-FREE INCOME
When funded properly, FCIUL II offers tax-free1 access to the policy’s available cash
values, minimizing taxable income each year. This helps maximize after-tax income as
well as diversify and manage tax risk.
• FCIUL II is designed to allow overfunding of your policy to help maximize cash value growth and tax-free
income potential
• FCIUL II features competitive pricing with low overall charges and fees that help maximize tax-free access to your
cash value accumulation
• Flexibility that comes from a competitive surrender period2 should you wish to cancel your policy
1
Policy distributions are generally received income tax-free. If the policy is considered a Modified Endowment Contract (MEC), distributions may be subject to current income taxes.
2
These charges may be significant and should be carefully considered before surrendering the contract. A surrender charge may result in the cash surrender value of your policy becoming
zero. Excess index interest is not credited for partial years at the time of surrender on any index account segment. Any gain to the policy is taxable. 7
 After-Tax Deposits

WHY TAX EFFICIENCY MATTERS TAX-FREE

IN RETIREMENT Roth IRAs, Roth 401(k)s,
HSAs, 529 Plans
Protecting your loved ones with life
insurance can help bring a sense of
reassurance, but protection is just the
beginning. As a component of your larger Distributions are tax-free
financial picture, FCIUL II can help access
Distributions Distributions
cash value as tax-free1 income, so you can: taxed as interest taxed as
dividends & ordinary
• Potentially grow personal savings over capital gains income
time and help your assets last longer

Tax Deposits

Pre-Tax Deposits
TAXABLE TAX
• Have greater flexibility and choice Investment DEFERRED
in how you access income for retirement Accounts IRAs &
& Trusts Qualified

After-
• Take more control of your financial well- Retirement
being — now and in the future Plans

FLEXIBILITY AND CHOICE

IN HOW YOU ACCESS CASH VALUE
You’ll benefit from easy access to your policy value to address life’s “what ifs” and “why nots.”
When your policy value is sufficient, you can utilize loans and withdrawals1 to use when and how
you wish, such as supplemental retirement income, paying college costs, business planning, or
to help pay off expenses. As long as your policy is in force, loans do not trigger income tax. If the
policy lapses or is surrendered, the active loan (plus interest) is considered taxable income by the
IRS at your ordinary income rate.

• No current charges for withdrawals2

• Two types of conventional loans are available:

1. Standard loans available years 1–10 that earn 2% and are currently charged 2.75% and will
not exceed 3%
2. Preferred loans available years 11+ that earn 2% and are currently charged 2% and will not
exceed 2.25%

• Index loans available beginning the sixth policy year — the value remains in the index accounts
and earns the same interest rate(s) as calculated for the unloaned value. The company reserves
the right to discontinue index loans at any time.

1
There is a partial surrender charge for withdrawals that reduce the face amount if taken during the surrender charge period.
2
Loans, withdrawals, and death benefit accelerations will reduce the policy value and death benefit. Provided the policy is not and does not become a modified
endowment contract (MEC), 1) withdrawals are tax-free to the extent that they do not exceed the policy basis (generally, premiums paid less withdrawals)
and 2) policy loans are tax-free as long as the policy remains in force. If the policy is surrendered or lapses, the amount of the policy loan will be considered a
distribution from the policy and will be taxable to the extent that such loan plus other distributions at that time exceed the policy basis. Please consult with and
rely on your tax advisor regarding your particular situation.
8
HOW YOUR FCIUL II POLICY WORKS

1.
You pay a premium
to your policy.

4. Net premiums1 allocated to the

index account(s) or Basic Interest A portion of your premium
Account have the potential to will go toward policy fees
build the policy’s cash value in a and charges.

2.
tax-deferred way.

It can be used to provide:

1. A federal income tax-free
death benefit The remaining amount
2. Access to tax-free income or net premium1 can
when you want it2
3. Tax-efficient policy value be allocated across
accumulation a variety of index
accounts.

3.

1
The net premium is the mechanism by which the relationship between the cash surrender value of a contract
and its net amount of risk is controlled, directly or indirectly, through the imposition of the definitional
limitations. As expressed by the net premium formula, the cost of the life insurance contract is the function of
assumed mortality, interest, and expenses.
2
Only applies so long as the policy is not a modified endowment contract (MEC). 9
WHY TRANSAMERICA
MORE COVERAGE,
LESS HASSLE

Our streamlined underwriting means greater convenience, fewer requirements,

and quicker decisions for you. Plus, we’ve simplified things with a digital
application so you can get covered even faster.

Over 100 Years of Serving Families

Transamerica is built to keep promises for generations to come.
We’ve been helping people feel better about the future for
more than 100 years, and we’re proud of the trust we’ve earned.
For more information about our financial strength, please visit
transamerica.com/why-transamerica/financial-strength

10
WHAT HAPPENS NEXT?
When you’ve decided Transamerica Financial Choice IULSM II is right for you, an application that
includes answers to medical questions is submitted, and the underwriting process begins.
Depending on the amount of insurance applied for, you may be contacted by a paramedical
company to complete a quick assessment.

Your application, health information, digital medical and prescription records, and any required
forms will be reviewed by underwriting, which will then make an offer of coverage. After the offer is
accepted and premium received, you will receive your policy. We recommend you keep this policy
with your important financial documents and notify your beneficiaries.

11
Together, we’ll help you prepare
for a bright financial future.

Visit: transamerica.com

If you have questions about FCIUL II, please contact

your Transamerica insurance professional.

This brochure is not intended to be a full description of the policy. Refer to your policy, Statement of Understanding, and
personalized hypothetical illustration for a complete explanation of the terms.
Right to cancel (free look): Within 10 days after you receive your policy, if you’re not completely satisfied with it for any reason,
you may cancel it and receive a refund. Some states offer a 20-day free look.
Annual Statement: Excess index interest is only credited at the end of the index account segment period. Upon receipt of your
first annual statement, the policy value may appear to be low. This is because only net premiums received on or before the policy
date, and allocated to the first index account segment, may have received any excess index interest. All other index account
segments will have only been credited interest at the guaranteed minimum interest rate of 0.25% by the end of the first policy
year when you receive your first annual statement. Any excess index interest that may be earned on index account segments for
their first year, will be credited during the second policy year and will be reflected on your second and ongoing annual statements.
In the event of suicide during the first two policy years, death benefits are limited to only the return of premiums paid. In some
states, death benefits in the event of suicide are limited to only the return of premiums during the first policy year.
Transamerica and its representatives do not give investment recommendations, tax, or legal advice. This material and the
concepts presented are for information purposes only and should not be viewed as an investment recommendation, tax, or legal
advice. Any investment, tax, or legal advice you require should be based on your particular circumstances and should be obtained
from an independent professional advisor.
Life insurance products are issued by Transamerica Life Insurance Company, Cedar Rapids, IA. All products may not be available in
all jurisdictions.
Policy Form #ICC24 TPIU11IC-0224. Form numbers may vary by jurisdiction.
Not available in NY.

3842876
© 2024 Transamerica Corporation. All Rights Reserved 10/24