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.