Transamerica

Transamerica

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Why Transamerica Life Insurance?

Transamerica is focused on promoting health and wealth by supporting organizations such as the American Heart Association, Aging Well Hub, and Transamerica Center for Retirement Studies.

Transamerica offers lots of sales tools for agents in the agent portal in addition to a line of fantastic life insurance options.

Transamerica Life Insurance Products

Transamerica offers the following life insurance products:

  • Universal life
  • Index universal life
  • Term life
  • Whole life

Transamerica also offers a final expense policy that you can read about here.

Transamerica Universal Life Insurance Products

Universal life insurance is a type of permanent life insurance that provides coverage for life, as long as premiums are paid. It's made up of two parts: a guaranteed death benefit, which is money left to your loved ones, and a cash value component. The cash value earnings grow tax-deferred, meaning no tax will be due until they are withdrawn. It's flexibility on your terms.

Unlike term and whole life insurance, universal life provides an additional level of flexibility. It allows policy owners to modify the amount and frequency of premium payments as long as there is sufficient cash value in the policy to cover monthly deductions.

When the insured dies, a death benefit is left to the named beneficiaries. In addition to the death benefit, universal life insurance also contains a cash value. The cash value grows tax-deferred until funds are withdrawn.

Transamerica offers two types of universal life products:

  • Index universal life
  • Group universal life

Index universal life insurance offers flexible insurance premiums, which may be allocated among a basic interest account and two index accounts. The index accounts provide the potential for interest crediting based on changes in the value of an index or indexes.

Group universal life insurance is provided through employers for a number of individuals.

Transamerica Index Universal Life (IUL)

The Transamerica Financial Foundation IUL® (FFIUL)

A truly flexible option, Transamerica’s FFIUL provides the death benefit associated with traditional life insurance plus the potential for policy value accumulation.

  • Federal income tax-free death benefit.
  • Policy value accumulation potential with basic interest account and index account options.
  • Guaranteed minimum interest rate, or “floor,” brings safety through guarantees.
  • Tax benefits including tax-free loans and withdrawals, tax deferral on any earnings, and tax-free transfers between account options.

Transamerica Term Life Insurance Products

Transamerica offers the choice of several flexible term life insurance policies. Their term life policies offer term periods ranging from 10 to 30 years separated by five-year increments and can provide families with financial protection anywhere from $25,000 up to $10 million (and above based upon individual consideration). Most policies require a medical exam, but if a person is under a certain age and coverage amount, they may be able to get term life insurance without a medical exam — acceptance is based on answers to health questions on the application.

Transamerica offers two different term life insurance policies:

  • Trendsetter® Super Series
  • Trendsetter® LB

Trendsetter Super is a term life insurance policy that provides up to $10 million (and above based upon individual consideration) in coverage. The amount of coverage that you ultimately select is guaranteed to remain the same throughout the entire initial term period. At the end of the term, you may be able to convert the policy to a permanent life insurance policy without having to undergo additional medical exams — based on health questions on the application.

The Trendsetter LB policy offers death benefit protection, up to $2 million, but also provides living benefits. These living benefits provide the option to receive an accelerated death benefit in the event of a qualifying chronic, critical, or terminal illness, while the insured is alive.

Transamerica Whole Life Insurance Products

Transamerica offers two whole life products:

  • Individual whole life
  • Group whole life

Individual whole life insurance policies, available in face amounts ranging from $2,000 to $3 million, can help with costs associated with your final expenses, such as funeral and burial costs. In addition, whole life insurance has a cash value component you can access.

Transamerica’s group whole life insurance policies provide you access to a whole life insurance policy through your employer as a voluntary benefit. You simply answer a few health-related questions to gain access to up to $25,000 in guaranteed whole life insurance coverage.

Transamerica Life Insurance State Availability

Transamerica is available in nearly all states.

New to Senior Market Life Insurance Sales?

Life insurance sales don't have to be overwhelming! In fact, we do everything we can to make it easy here at New Horizons.

Check out the Quick Training Guide available as part of the Life Insurance Marketing Kit:

In addition, a great place to start is our Ultimate Guide to Selling Life Insurance in the Senior Market.

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This product may be available in other states not listed. Please contact us to inquire.