Important Notice for Transamerica Agents in Washington, DC

We value our Washington, DC agents and policyholders and remain committed to providing long term care insurance to the District. Due to changing market needs in the District, we will temporarily suspend individual sales of TransCare II in Washington, DC. All TransCare II applications for individuals or couples must be received in our home office no later than 5:00 p.m. Central Time Friday, June 24, 2016. Also, as we continue to take a responsible and disciplined approach to the Washington, DC market, we’ve determined that we will no longer accept multi-life Service Group Requests (SGRs) for Washington, DC, effective June
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Categories: Long-Term Care and Transamerica.

Holiday Closure May 30

The Transamerica Long Term Care administrative office in Plano, TX will be closed Monday, May 30, 2016, to mirror hours of the New York Stock Exchange. Please allow additional time if necessary to order and receive materials during that time. Much of the important materials and resources you may need will continue to be available on our Agent Resource Center. #goldencareagent #Transamerica
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Categories: Transamerica.

Final Expense Product Approvals in WA, IL, and HI

Transamerica has updated the Immediate Solution and 10 Pay Solution Final Expense life insurance policies for the states of Hawaii, Illinois, and Washington as follows: Hawaii Updated Final Expense application kits will be available on all essential websites on May 20, 2016. There will be a 40-day transition period. The old application will be accepted if received by June 30, 2016, with the new application required as of July 1, 2016. Illinois Illinois has approved an Amendatory Endorsement relating to the Incontestability provision. Starting on May 20, 2016, an Amendatory Endorsement letter will be sent to all clients who hold
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Categories: Life Insurance and Transamerica.

Transamerica: Adjustments Made to Military Sales Practice Disclosure

Sales & Marketing Special Update Adjustments Made to Military Sales Practice Disclosure Effective April 22, 2016, the following Military Disclosure form will be updated in all states and will be made available on all essential websites. With this change, a new form will replace the previous disclosure forms as listed below: Old Disclosure Form New Disclosure Form Effective 4/22/2016 DISMSP0612 DIS11541008T MIL-129 U00265 DISMSP0515   The iGO e-App will show the new disclosure form on April 23, 2016. Transition Rules There will be a 30-day transition period. The old forms will be accepted by new business, if received prior to
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Categories: Industry News, Life Insurance, and Transamerica.

Transamerica Bulletin: Sales & Marketing Special Update

TransCare® II Changes Effective April 12, 2016 Transamerica remains committed to you and the Long Term Care market. We continue to actively manage our Long Term Care business to ensure that our programs and products align with our core business philosophy, supporting our key objective to remain in the market for the long haul. The following changes to TransCare® II will go into effect Tuesday, April 12, 2016: Due to recent claims experience, and in an ongoing effort to manage our business, we have revised our new business premium rates. The affected states are AK, AR, AL, GA, IA, ID,
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Categories: Long-Term Care and Transamerica.

Step-Rated BIO Increases Client Flexibility

Transamerica LTC’s exclusive Step-Rated Benefit Increase Option (SRBIO) is a smart, affordable way for your clients to manage inflation with initial premiums that can be significantly lower than traditional compound BIO premiums. Each year, premium increases are priced at original purchase age rather than attained age, reducing costs even further. That’s why it’s an excellent choice for your cost-conscious clients. With SRBIO, your clients’ benefits and premiums automatically increase (step up) by a 3% or 5% compound rate each year. It provides the flexibility for them to control the cost of their premiums over time by giving them the control
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Categories: Long-Term Care and Transamerica.

Transamerica Solutions Portfolio – Express Processing Update

Transamerica is committed to doing all that is possible to speed the issue of our Solutions Final Express products and do so at the lowest cost possible. As such, we are pleased to announce new procedures that will go into effect January 21, 2016. Applications received in good order will receive priority treatment over applications received “not in good order” or NIGO. Below are highlights of the changes going into effect and facts associated with applications NIGO. Highlight of the new processing procedures: All applications will enter our system classified as either “In good order” or “not in good order”
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Categories: Life Insurance and Transamerica.

Tennessee Bulletin addresses Partnership Policies

Tennessee’s regulations on long term care state that among the various requirements a policy must meet in order to qualify as a Partnership Policy it must provide inflation protection that varies depending on the age of the policyholder. Specifically, a Partnership Policy must provide the following: For a person less than sixty-one (61) years of age as of the date of purchase of the policy, the policy provides compound annual inflation protection. For a person at least sixty-one (61) years of age but less than seventy-six (76) years of age as of the date of purchase of the policy, the
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Categories: Industry News, Long-Term Care, and Transamerica.

Learn About Transamerica’s Monthly Benefit Rider

About our Monthly Benefit Rider(MBR) For clients who want to stay in their homes as long as possible – and that’s most people – a Monthly Benefit Rider (MBR) can not only be more convenient, but it can also save them money. The MBR changes the daily limit on what a policy will reimburse into a monthly pool of money, giving your clients more flexibility for home care. Here’s an example: Your client hires a paid caregiver for two days a week and incurs eligible expenses of $300 per day. If their daily benefit is $150, we would reimburse the
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Categories: Long-Term Care and Transamerica.

Transamerica to Replace Copies of Certain Customer Correspondence with Report

Effective January 19, 2016, Transamerica will begin replacing the mailing of individual agent copies of certain customer’s correspondence with a detailed report, which will be mailed each Tuesday and Thursday to distributor offices. The reports will increase in size as blocks of policies and product types are added during the four-month roll-out window. Correspondence sent directly to the customer will remain unchanged and will continue to include the agent/GA name/Agent ID as a carbon copy. This change will reduce the number of individual copies of customer correspondence sent to distributors, but the critical information contained in that correspondence will be
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Categories: Long-Term Care and Transamerica.