NEW DAY, BETTER WAY
An Easier Experience
To help financial professionals like you find new customers, Transamerica is enhancing our product offerings and introducing new ways to do business. We’ve also changed our approach to meet your needs in a more consumer- and technology-focused future. It’s all designed to make it easier for you to help provide clients the true power and security of life insurance.
Watch this page for regular updates on how we’re working to help make your job easier. Please check back frequently.
This page was last updated on February 11th, 2023.
Latest Enhancements
Effective February 25, 2023, Transamerica has launched Transamerica Financial Choice IULSM (FCIUL) in six new states — Florida, Guam, Illinois, Maryland, Mississippi, and Puerto Rico.
Effective February 11, 2023, Transamerica Final Expense Solutions Portfolio will have a new enhanced selling experience. Agents will now benefit from real-time underwriting decision, a short, streamlined digital application, and policy eDelivery.
Effective January 4th, 2023, Transamerica has added to its IUL product line up. The Transamerica Financial Choice IULSM (FCIUL) is built to provide life insurance protection while maximizing cash value accumulation potential. FCIUL offers a variety of index options and policy features to help fuel possibilities — faster.
Effective December 17, 2022, Printing and signing in person are now a thing of the past with our new FFIUL Selling Experience. Illustrations will automatically be available for digital signature through DocuSign during any point of the selling experience. For additional information click on the relevant flyer below.
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FAQs
Effective September 24, 2022, Transamerica has implemented two enhancements for all FFIUL (IUL09) policies with the LTC Rider (LTCR03). Informal Care and International Coverage Benefit are now available in California and Florida.
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Effective September 24, 2022, Several improvements will take effect, including: eliminating the $25 fee currently charged for withdrawals for Transamerica Financial Foundation IUL® (IUL09), the loan charge for FFIUL (IUL09) in years 11+ will be 2% for all new and existing loans and adjustment of the cap rates for our Indexed Universal Life (IUL) suite of products.
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Effective August 1, 2022, 1035 exchanges to FFIUL removes the requirement to increase MNLP by 25%. Now only a 25% increase in face amount is required to waive the surrender charge.
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Effective June 25, 2022, Transamerica rolled out another reprice for the Trendsetter® Super product to help our agents protect more families and further our commitment to being a carrier of choice with competitive rates. This reprice puts Transamerica in the top five 99% of the time versus our top competitors for our broad reprice targets — and 75% of the time across our entire portfolio.*
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Effective June 23, 2022, Agents and firm contacts can now view and download new FFIUL policy PDFs on TransAct®. FFIUL policy PDFs will be available for 90 days for cases mailed or eDelivered on or after June 23, 2022.
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Effective April 27, 2022, New term policy PDFs are available on TransACT. Agents and firm contacts can now view and download new term policy PDFs on TransAct®. Term policy PDFs will be available for 90 days for cases mailed or eDelivered on or after April 27, 2022.
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Effective March 26, 2022, The Trendsetter® Super product experienced a reprice that includes lower rates for the majority of our Trendsetter Super portfolio. This puts us in the top 5 ranking for 68% of all quoting scenarios (based on internal data and Compulife, February 1, 2022).
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Effective March 5, 2022, Transamerica will restart sales of the LTC Rider on the Transamerica Financial Foundation IUL in the state of Washington. For help running an illustration please contact the sales desk or for more details please review the FAQ.
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Effective December 11, 2021, Transamerica increased the maximum conversion amounts on the Transamerica Lifetime from $2,000,000 to $9,999,999. We also updated the nonforfeiture rates for Transamerica Lifetime & our Final Expense Solutions Portfolio. Clients can expect to see changes in the guaranteed cash value and rates due to these regulatory changes.
Effective December 4, 2021, Transamerica has made several key enhancements to the Transamerica Financial Foundation IUL. The enhancements include lowering the PUC charges and new lower floor for Minimum No Lapse Premiums (does not impact the floors on the index account options). These two changes are being made to all newly issued policies in all states except New York.
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We have also implemented two enhancements for all FFIUL (IUL09) policies with the LTC Rider (LTCR03) The LTC enhancements are currently available in all states, except: Arizona, California, Florida, Montana New York. Informal Care and International Coverage Benefit are now available
Learn More Today
Effective December 4, 2021, For New York Only, Transamerica has made two key enhancements to the TFLIC Financial Foundation IUL. The enhancement include lowering the PUC charges and implementing the 7702 & 7702A guidelines changes to our illustration and administrative systems.
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Effective October 2, 2021, The Trendsetter Super product experienced a reprice that includes lower rates for the majority of our Trendsetter Super portfolio. This puts us in the top 3 ranking for more than 50% of all quoting scenarios (based on internal data and Compulife, August 16, 2021). Additionally, the minimum issue age for Trendsetter LB band 1 ($25,000 - $99,999) will increase from age 18 to age 23.
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Effective August 23, 2021, our new TransMatch program allows up to and including $1 million in additional coverage from Transamerica for individuals who’ve been approved standard or better in the past 12 months by a company on our list of approved carriers.
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Effective July 15, 2021, Transamerica lifted restrictions on applications on clients over age 75. We are now accepting applications on cases for ages 75+, with a maximum table rating of Table B. Any risks assessed over Table B will be declined.
Effective April 24, 2021, Transamerica expanded our underwriting initial requirements to include more nonmedical eligibility for higher face amounts and more risk classes, making it possible for your clients to qualify for the lowest rates without the hassle of invasive and time-consuming labs. Nonmedical guidelines have been expanded to include all risk classes for the following scenarios:
Transamerica Financial Foundation IUL® & Trendsetter® Super**
- $100,000 up to $2,000,000 for ages 18 through 45
- $100,000 up to $1,000,000 for ages 46 through 55
All riders available at the above age/face amounts.
Trendsetter® LB
- $100,000 up to $249,999, ages 18—60 (18—55 Preferred Nonsmoker available, ages 56—60 up to Standard Risk Class available)
- $250,000 up to $2,000,000 for ages 18 through 45
- $250,000 up to $1,000,000 for ages 46 through 55
All riders available at the above age/face amounts. Additionally, clients retain these risk classes if they choose to convert their term policy or term rider to a permanent policy.
Pro Tips: Do not order a paramed exam if your client fits into the bands outlined above. An underwriter will order a paramed exam if necessary. You, or your designated contact on file, will receive an email when the exam is ordered and every time the status changes. Status emails will give you the most up-to-date information on exam orders, scheduling, cancellations, and completion. Case status on agent portals may be delayed.
We are confident that these changes will help provide more individuals and families the coverage they need with fewer exams and labs. To learn more, please download our updated Underwriting Guidelines and FAQs.
Individual Planning With Life Insurance
The right life insurance policy can provide far more than a simple death benefit — even serving as a foundation for your clients’ overall financial plan. Individuals can leverage life insurance for cash value accumulation, supplemental retirement income, estate planning, and more.
Business Planning Using Life Insurance
Business owners may underestimate the utility of life insurance in helping to protect their life’s work. It can be used to sustain continuity if they face the unfortunate death of a key employee, attract and retain top talent with executive benefits, and set up buy-sell arrangements for succession planning.
Policy Issue & Delivery
eDelivery — Fast, convenient, transparent
eDelivery — Fast, convenient, transparent
Today's consumers are seeking faster virtual buying opportunities with digital convenience. That's why we've expanded the capabilities of our eDelivery program and made more policies available for electronic delivery. It's now easier for you to sell and administer policies, and for clients to buy them.
What is it? Transamerica's enhanced eDelivery is now accessible to more clients than ever. During the application process, clients can simply elect to digitally receive their policies by signing the eDelivery opt-in and e-Consent forms on the iGO e-App® or paper application. eDelivery is available on Trendsetter Series, in all risk classes, and with all riders.
What you need to know:
- Policies are issued faster meaning faster coverage for your clients
- It saves you the time and energy it takes to mail policies, schedule and host delivery meetings, and obtain the necessary signatures on delivery requirements
- There are now more case delivery requirements that are eligible for eDelivery
- You'll be notified immediately via email, when policies are emailed to your clients via eDelivery
- You'll be able to download all eDelivered policies, making record retention and policy management easier
- You will receive your commissions faster
Submitting documents online
Submitting documents online
Because we want to make it as easy as possible to get documents back right now, we're offering an interim solution to collect documents quickly and confidentially online. Our Secure Email Portal will help process business during the COVID-19 crisis.
What is it? A process that starts with visiting transamerica.com/upload to request access to Transamerica’s secure messaging system. It’s similar to sending an email with an attachment, but in a way that keeps information protected.
What you need to know:
- You and your customers can send documents via the Secure Email Portal if your method of faxing, mailing, or website portals are currently not an option during this crisis
- There are ways customers will know about this tool — by talking to you, someone in our contact center, or visiting COVID-19 FAQs on transamerica.com
- Please provide the URL transamerica.com/lp/upload to any customers trying to complete the enrollment process
- The site supports all product lines — Annuity, Life/Health, Long Term Care, and Retirement
- This is a temporary solution; it won’t replace the work we are doing on our online portals and tools
- Transamerica will waive the requirement for agents to sign delivery documents during this time
- Customers will need to complete a quick form and registration process; there are step-by-step instructions to follow and an FAQ section online if customers need help
- Although it may take a couple of steps to set up, we’re taking extra security precautions to ensure customer information is safe
- There are size limits; please keep your email (including attachments) to 50mb or less
- Please allow up to 48 business hours for documents to be processed
- For all other questions, please follow your normal process
- For all other New Business questions, please follow your normal process
Policies mailed directly to clients
Policies mailed directly to clients
Many areas across the country are impacted by state and federal “stay at home” orders. We know this has impacted how you are interacting with customers. To help fill a gap in the new business process, Transamerica will begin sending new policies directly to customers. This will be a temporary adjustment, as we know how important it is for you to have a face-to-face conversation with customers.
View life policy mailings FAQs.
View standalone LTC policy mailing FAQs.
A letter explaining a change to our traditional process is included in the package they receive. Click here to review a sample of the letter clients will be receiving.
Please continue to monitor your portals, systems, and email for information about when a policy has been issued. We also ask that you reach out to customers and have a virtual policy review. The extra help during this time will go a long way in building a long-term relationship.
Licensing and continuing education information and updates
You may have noticed that the COVID-19 outbreak has affected licensing requirements, like everything else in our lives.
Transamerica is sharing updates we’ve received from state insurance departments. Use the links below for the latest information.
* Comparisons based on monthly premiums and internal data. All competitor data from Compulife as of April 30, 2022, for 3,942 cells, quinquennial ages only.
** For New York: A one-time letter will be sent April 9, 2020, that informs all TFLIC customers of our policy.
Life insurance products are issued by Transamerica Life Insurance Company, Cedar Rapids, IA, or Transamerica Financial Life Insurance Company, Harrison, NY. Transamerica Financial Life Insurance Company is authorized to conduct business in New York. Transamerica Life Insurance Company is authorized to conduct business in all other states. All products may not be available in all jurisdictions.
For Agent Use Only. Not For Use With the Public.