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Transamerica Term Life Insurance Policy Features

 


Term Life America Insurance is proud to offer Transamerica Term Life Insurance. Solid resources backed by a combination of innovative products and service beyond expectations.

Transamerica Life Insurance Co - Family Markets Ultima Elite Term II Product Features
 
State Approvals Available in all states EXCEPT: NY PR WA

When WA is approved it will not be available for the 30 year term. Also Issue Ages will be capped at 60 for 10 year, 55 for 15 year and 50 for 20 year.

Type The attached UW Requirement Chart does not apply to this product

This product is a 10, 15, 20 or 30-year level premium period, non-participating, level death benefit, term to age 95 product. Premiums are level for the initial term period selected (10, 15, 20 or 30 years) and then annually increasing. The product premiums are fully guaranteed. The product will have six underwriting classes. This is a non-illustrated product in terms of the Model Regulation. The currently existing product will still be available for sale in each state until this new version is approved. The DI rider will be the same in all respects as the currently existing rider.

Conversion Options Conversion allowed during the initial level term period (that is 10, 15, 20 or 30 years) or to age 70 if earlier. Conversion may be to any permanent plan being offered at the time of conversion, which is eligible for conversion. Conversion may occur immediately after issue.
Issue Ages Age Last Birthday
  • Term 10: all classes: 18-80
  • Term 15: Non-tobacco: 18-75; Tobacco: 18-70
  • Term 20: all classes: 18-65
  • Term 30: Non-tobacco: 18-50; Tobacco: 18-45
  • Face Amounts
    Min/Max
    Face Amount Bands
    Band 1 = $25,000 - $100,000
    Band 2 = $100,001 - $249,999
    Band 3 = $250,000 and up

    Minimum Face Amount:

  • Non-tobacco/Tobacco: $25,000
  • Preferred Elite/Preferred Plus/Preferred/Preferred Tobacco: $100,001

    Minimum Modal Premium: $10.00

  • Modal Factors Semi-annual = .5100
    Quarterly = .2600
    Monthly = .0875
    Policy Fee $80 Annually (Fully commissionable)
    $60 Annually (Fully commissionable) for band 3 only
    Special Product
    Features
  • Terminal Illness Accelerated Benefit
  • Waiver of Premium Benefit Rider (WP)
  • Children’s Insurance Benefit Rider (CBR); $6/unit; units 1-25; insured ages 18-80
  • Additional Insured Rider (AIR)
  • Disability Income Rider (DIR)
  • Settlement Option Endorsement (SOE)
  • Critical Illness Rider (CIR)

  • Back To Top


    Transamerica Life Insurance Co - Family Markets Ultima Elite Term II Underwriting Guidelines
    Classes Preferred Elite
    Preferred Plus
    Preferred
    Non-tobacco
    Preferred Tobacco
    Tobacco
    Re-entry  
    Tobacco Definition Tobacco Use Includes tobacco or nicotine based products

    Preferred Elite

  • None in the past 5 years
    Preferred Plus
  • None in the past 3 years
    Preferred
  • None in the past 2 years
    Non-tobacco
  • None in the past 1 year
  • Special Underwriting
    Features
    Preferred Underwriting Guidelines

    Preferred Elite

  • Cholesterol – No treatment – less than or equal to 200; Chol/HDL ratio less than or equal to 5.0
  • Blood Pressure – No treatment – 130/85
  • Family History – Includes coronary artery disease, internal cancer or melanoma or cardiovascular disease – No occurrences prior to age 60
  • Aviation – No
  • Avocation (Hazardous) – No
  • Substance/Alcohol Abuse – No abuse
  • Driving – No more than 2 moving violations in past 3 years; No DUI/Reckless driving in past 5 years
  • US Residency – for past 3 years
  • Citizenship – Citizen or permanent residency status
  • Travel (unsafe) – No
    Preferred Plus
  • Cholesterol – No treatment – less than or equal to 230; Chol/HDL ratio less than or equal to 5.5
  • Blood Pressure – No treatment – 140/90
  • Family History – Includes coronary artery disease, internal cancer or melanoma or cardiovascular disease – No occurrences prior to age 60
  • Aviation – No
  • Avocation (Hazardous) – No
  • Substance/Alcohol Abuse – No abuse in past 10 years
  • Driving – No more than 2 moving violations in past 3 years; No DUI/Reckless driving in past 5 years
  • US Residency – for past 3 years
  • Citizenship – Citizen or permanent residency status
  • Travel (unsafe) – No
    Preferred
  • Cholesterol – less than or equal to 260; Chol/HDL ratio less than or equal to 7.0 - Treatment will be given individual consideration on a case by case basis, may or may not be eligible
  • Blood Pressure – within 150/90; with treatment below 140/90
  • Family History – Includes coronary artery disease, internal cancer or melanoma or cardiovascular disease in parents or siblings – No death prior to age 60
  • Aviation – No
  • Avocation (Hazardous) – Individual consideration on a case by case basis, may or may not be eligible
  • Substance/Alcohol Abuse – No abuse in past 5 years
  • Driving – No more than 2 moving violations in past 3 years; No DUI/Reckless driving in past 5 years
  • US Residency – for past 3 years
  • Citizenship – Citizen or permanent residency status
  • Travel (unsafe) - No
    Preferred Tobacco
  • Cholesterol – No treatment - less than or equal to 230; Chol/HDL ratio less than or equal to 6.0
  • Blood Pressure – No treatment -135/85
  • Family History – Includes coronary artery disease, internal cancer or melanoma or cardiovascular disease in parents or siblings – No death prior to age 60
  • Aviation – No
  • Avocation (Hazardous) – No
  • Substance/Alcohol Abuse – No abuse in past 10 years
  • Driving – No more than 2 moving violations in past 3 years; No DUI/Reckless driving in past 5 years
  • US Residency – for past 3 years
  • Citizenship – Citizen or permanent residency status
  • Travel (unsafe) - No

    The attached UW Requirement Chart does not apply to this product

  • RETURN OF PREMIUM (ROP) Term Life Insurance

    Living life to the fullest sometimes means taking a little risk now and then, but not with your life insurance coverage. That’s why Transamerica Occidental Life Insurance Company is pleased to offer a return of premium (ROP) term life insurance policy, Trendsetter® ROP 30. With this unique type of life insurance, the policy owner gets the best of both worlds.  He or she receives the full protection of a term life insurance policy, or, if the insured outlives the 30-year level premium period, he or she will receive a refund of cumulative eligible premiums* paid at the end of that 30-year period — income tax-free!

    No Birthday Surprises

    Unlike many life insurance products, Trendsetter ROP 30 features age-last-birthday pricing. That means even if you’re less than a month away from turning, for example, 50, you will be issued the (more advantageous) policy for a 49-year-old. (Age-last-birthday pricing only benefits applicants with birthdays more than six months ago.)

    Cancel the policy, not the advantages

    If your situation changes and you decide to cancel your policy, there is still an opportunity to have premiums returned. If after six years you cancel your Trendsetter ROP 30 policy, you’ll still receive a percentage of the eligible premiums you’ve paid to date.

    Is Right for You?

    Transamerica’s Trendsetter ROP 30 is an ideal choice if your situation is similar to any of the following:

    New Home Owner

    A return of premium term life insurance policy gives new homeowners mortgage protection plus a return of premiums paid if they outlive the policy. Should something happen to the insured homeowner, the policy’s death benefit could help the beneficiaries cover the unpaid mortgage. Should the insured live beyond the level premium period, the return of premiums provides a nice sum to put toward remodeling, a down payment on a new home, or any purpose desired.

    Business Owner

    Trendsetter ROP 30 can provide great flexibility for:

    buy-sell agreements 
    If a business owner dies prematurely, the death benefit can be used to buy the shares owned by the decedent. If business circumstances should change during the policy term but after year six, the policy could be cancelled and a percentage of eligible premiums would be returned to the policy owners.

    key-man insurance
    if an insured key executive leaves the company, the business may still have a percentage of eligible paid premiums returned if the policy is cancelled after year six.

    a large bank loan
    the death benefit could be used to pay off the loan, ensuring that the business is not saddled with that debt.

    The Peace of Mind of Transamerica

    Trendsetter ROP 30 is backed by Transamerica Occidental Life Insurance Company’s century of strength, experience and protection. That means in addition to offering you protection, value and flexibility, Trendsetter ROP 30 also provides the assurance you’ve come to depend on from Transamerica products and services.

    *Excluding substandard premiums, rider premiums, and outstanding loans. Return of premium not available if death occurs during level premium period.

    Trendsetter® ROP 30 (Policy Form #1-230 11-106) is a term life insurance policy issued by Transamerica Occidental Life Insurance Company, Cedar Rapids, IA 52499. Premiums are guaranteed level for the first 30 years, then premiums increase annually starting in year 31. Policy form and number may vary, and this policy may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid. Suicide is no defense to payment of life insurance benefits, nor is suicide while insane a defense to payment of accidental death benefits, if any, under this policy where the policy is issued to a Missouri citizen, unless the insurer can show that the insured intended suicide when she or he applied for the policy, regardless of any language to the contrary in the policy.


     


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    Get term life quotes from TermLifeAmerica.com-
    Lewis Fink is licensed as a term life agent offering term life quotes in the following states: Term life quotes for:
    Alabama - AL,  Arkansas - AR,  California - CA Colorado - CO Connecticut - CT Delaware - DE District of Columbia - DC,  Florida - FL, Georgia - GA Idaho - ID Illinois - IL Indiana - IN Iowa - IA Kansas - KS Kentucky - KY Term quotes for: Louisiana - LA,  Maine - ME Maryland - MD Massachusetts - MA,  Michigan - MI Mississippi - MS Missouri - MO,  Montana - MT Nebraska - NE New Mexico - NM, New Jersey - NJ New York - NY,  North Carolina - NCTerm quotes for: North Dakota - ND,  Ohio - OH Oklahoma - OK Pennsylvania - PA, Rhode Island - RI South Carolina - SC,  South Dakota - SD,  Tennessee - TN Term quotes for: Texas - TX,  Utah - UT Vermont - VT Virginia - VA, and Wisconsin - WI.  

    We offer term quotes for 5, 10, 15, 20, 25, and 30 year term periods. Our universal life products can be quoted to cover a term of up to age 120. Not all term product quotes from all term companies quoted are available in all states.



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