Forward Together

Uncertain times call for agile solutions

We certainly hope you're taking care of yourself, your loved ones, and your business. To help you keep your business running strong, we are updating how we process new business and underwrite cases, what information we require, and our procedures for policy delivery and service. 
 
This page will be regularly updated, so please check back frequently.
 
Please note: Transamerica has resumed regular call center hours. We thank you for your patience over the past few weeks while we adjusted to our staff working safely from their homes during the COVID-19 crisis.
 
This page was last updated June 4, 2020.

Life insurance: Underwriting updates

The COVID-19 pandemic has impacted the industry in many ways, including limiting access to paramedical exams. We are now offering additional options to satisfy medical requirements on new cases that include increased non-medical guidelines for clients through age 55.* Please see the following chart for details around this change. The updated underwriting guidelines go into effect on 4/8/2020.


Please note: Due to the circumstances around COVID-19, Transamerica currently is not accepting applications on clients over the age of 75 for all life insurance products.

Submitting documents online

Because, at Transamerica, 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/lp/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

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. 
 
 
 
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.
 
Estimated start dates for this process:
 
Annuity — 4/13/2020
LTC — 4/16/2020
Trendsetter® Term — 4/30/20; technical issues have been resolved and policies are now mailing directly to customers
FFIUL, FE, Lifetime, MedSupp — 4/17/2020

USPS international mail disruption

Because of the COVID-19 pandemic, USPS has temporarily suspended mail services to certain international destinations. USPS will return items to Transamerica without them leaving the United States. We will re-send all returned mail once delivery services resume.


For a list of specific impacted countries, visit USPS.com. If you have clients in these countries, please avoid sending any printed documents until further notice. We ask that you use electronic communications to the extent possible.

Changes to customer grace periods

As the COVID-19 situation continues to impact our daily lives, customers may start to experience financial hardships. With that in mind, we’ve revisited our policy grace and lapse situations by extending payment due dates — similar to how we respond to natural disasters. 
 
For our life and health customers whose coverage lapsed on or after March 11, 2020, we’re sending a follow-up letter to let them know we’ve extended the window in which they can make a payment and keep their insurance coverage active.* They’ll have an additional 30 days beyond their most recent notice to bring premiums up to date. Samples of letters mailed to clients:
 

Sharing COVID-19 updates with customers

This week, we launched a COVID-19 FAQs section for consumers on Transamerica.com. The page educates customers about subjects we have covered with you here, such as mailing policies directly to policyholders and state specific regulations.  We will continue to update the FAQs on this page with useful customer/client information related to Transamerica’s efforts during the pandemic.