September 27, 2021
Changes Effective October 2nd
Final Expense: Higher Cash Values
Transamerica’s Final Expense Solutions Portfolio now has higher guaranteed cash values at the same cost-effective rates.
In response to the regulatory changes, we’re increasing cash values on our Immediate Solution, 10-Pay Solution, and Easy Solution effective October 2, 2021.
Final Expense Transition Details
- All final expense applications submitted on or after October 2, 2021, will include cash value updates.
In-Flight Final Expense Applications:
- Application received on or before October 1, 2021
- Cases will issue with previous cash values
- Need to be placed in force on or before December 31, 2021
Trendsetter® LB: New Minimum Issue Age for Band 1
Effective October 2, 2021, the minimum issue age for Trendsetter LB band 1 ($25,000–$99,999) will increase from age 18 to age 23. This means proposed insureds must be 23 years or older for a Trendsetter LB policy with a face amount less than $100,000.
Trendsetter LB Transition Details
- All applications submitted on or after October 2, 2021, require minimum issue age 23 for Trendsetter LB band 1 ($25,000–$99,999).
In-Flight Trendsetter LB Band 1 Applications for Issue Ages 18 to 22:
- Applications received at Transamerica on or before October 1
- Cases will issue with previous minimum issue age 18
- Cases must be placed in force on or before December 31, 2021
Questions? Please call your Transamerica sales team at 866-545-9058.
1 (800) 772-6881 x7731 | email@example.com