Intelligent Variable Annuity offered by TIAA-CREF

Introduction
Type of Product Variable Annuity
Product NameIntelligent Variable Annuity
Offered byTIAA-CREF
Company Info

TIAA-CREF has a long-standi... read more

Contract and Purchasing
Minimum Premium Payment2500
Minimum Additional Premium Payment50
Investments
Total Number of Investment Options44 [Find annuities with more investment options]
Fixed Account
Features and Benefits
Free WithdrawalsYes
Free Withdrawal Limit100
Guaranteed Death BenefitAvailable
Are Telephone Transactions AllowedYes
Fees and Expenses
Minimum Total Fees and Expenses0.34 [Find annuities with lower fees and expenses]
Maximum Total Fees and Expenses2.08 [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 Fee25.00 [Find annuities with lower administrative fees]
Contract Maintenance Fee0.1 [Find annuities with lower contract maintenance fees]
Early Withdrawal Charges / Surrender Fees
Minimum Investment Management Fee0.09 [Find annuities with lower investment management fees]
Maximum Investment Management Fee1.58 [Find annuities with lower investment management fees]
Sales Compensation
Contact Information
Company OfferingTIAA-CREF
Company TypeInsurance Company
Phone Number800 842-2252
Websitewww.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


Key Phrases:
Annuity Product Types: 

Product Ratings and 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.

1,110 reads
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.

1,175 reads
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.

990 reads
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.

1,093 reads

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