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A no-cost option available with Transamerica life insurance policies, the Income Protection Option (IPO) helps you to ensure that after your death your loved ones will have what they need in the form of a guaranteed monthly income stream for a period of up to 25 years. You can combine this monthly payment with an initial payment amount and/or a final payment amount.

This is an effective way of making sure that your family's needs are covered and that they will be receiving income when they need it most. The monthly option can be a great way to ensure that the money you provide will last as long as you intended. It can be used to cover monthly expenses, children's educations or unanticipated medical bills. It can also be an effective way to help loved ones who may have little or no experience managing large lump sums of money. They can feel secure knowing that they will have a long-term guaranteed income stream without the stress of managing it.

Most of us think about our budgets in terms of monthly expenses and income. Because the Income Protection Option can provide benefits in guaranteed monthly income streams, it can closely mirror the way that money may flow into your household.

Like replacing a monthly paycheck, the Income Protection Option is a simple way for your family to cover recurring household expenses as well as unexpected financial situations such as medical bills. The guaranteed income stream also helps to ensure that the money you provide will last as long as you intended.

And, by adding on initial and final lump sum amounts, you can cover up-front expenditures and provide for larger-expense items such as your children's college educations or helping out your adult children or grandchildren.

The Income Protection Option puts you in control of your life insurance policy's death benefit—it lets you choose when and how much to give to each of your loved ones. The Income Protection Option allows for maximum flexibility so you can tailor it to meet your specific needs. There are several options for how benefits are paid, including:

• An initial payment, followed by a guaranteed monthly income stream, followed by a final payment
• An initial payment followed by a guaranteed monthly income stream
• A guaranteed monthly income stream followed by a final payment
• A guaranteed monthly income stream

For example, you can leave your spouse an initial payment to help pay your hospital bills and funeral expenses followed by guaranteed monthly income for 15 years. Or, you can leave a monthly income for 10 years followed by a final payment to help with any remaining expenses or obligations.

Yes, you can name multiple beneficiaries. This is an important feature of the Income Protection Option—especially if you want to have more control over the specific amounts given to each of your loved ones.

For example, if you have a blended family (where there may be children from previous marriages), the Income Protection Option provides a way for you to ensure that your spouse, children, adult children, and grandchildren can all receive specific amounts that you choose.

Yes, you can provide a different amount to each beneficiary. For example, you can provide an initial payment to your spouse, plus a guaranteed monthly income for your spouse (70%) and children (30%) for 20 years, followed by a final payment to the now adult children (50%) and grandchildren (50%).

Remember that you determine the specific percentages that go to each beneficiary for each payment option.

Yes. The Income Protection Option was created to provide you with maximum flexibility. You can change the recipients or the amounts at any time during your lifetime.

With the Income Protection Option you can:

• Provide guaranteed income to your loved ones
• Protect loved ones with varying amounts
• Exercise some control over how death benefits are paid out
• Be sure the money you leave will last as long as you intended by providing a monthly income instead of just a one-time payment

The Income Protection Option offers you all of these important benefits. Enjoy the reliability of Transamerica's life insurance with the flexibility to adapt your plan as life changes.

No. The Income Protection Option is available to you at no additional cost.

The Income Protection Option is available with many of Transamerica's life insurance policies. For additional information, please check with your financial advisor or contact a Transamerica representative.

Contact your financial advisor today, or locate a Transamerica representative here, to learn more about Transamerica's life insurance products and how you can protect your family with the Income Protection Option.