TRANSAMERICA LIFE INSURANCE COMPANY
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY
What's new with TransCare® III?
- Maximum Daily Benefit increases from $400 to $500
- Policy Elimination Period expanded to 365 days*
- Couples Discount increased to up to 30% and is available to couples even when they select different benefits**
- Gender-Based Pricing that reflects the higher claim rates for females across the industry and allows for positive changes in what we can provide to couples applying together, like the ability to maintain the couples discount when writing policies with differing benefits**
- Elimination Period Credit Rider now applies Home Care and Adult Day Care Benefit days toward the Elimination Period
- Waiver of Premium Rider for Home Care and Adult Day Care now continues to waive premiums after policy holder transfers to a Long Term Care facility and is satisfying the elimination period
- 3-Year Rate Guarantee
- Tailored Benefit Increase Option Rider compounds the Maximum Daily Benefit and Policy Maximum by 5 percent on each anniversary prior to age 61, by 3 percent from age 61 to 75, and goes to zero after age 75
- Enhancements to the Deferred Benefit Increase Option
- Step-Rated and Tailored Benefit Increase Options are now included as Benefit Increase Option choices on the first, third, and fifth anniversary of the policy
- Benefit Increase Options are priced at age of issue
When do you sell TransCare® II and when do you sell
TransCare® III?
TransCare® II will be used when you are selling to:
- Worksite Cases
- Employees of an association
- Employees of association members
- Associations that are labor organizations that speak on behalf of the applicant regarding any terms and conditions of employment
- For all consumers in states that have not launched TransCare® III yet
TransCare® III will be used when you are selling to:
- Individuals
- Associations where employment is not a condition of membership and when the association does not speak on behalf of the members in matters of pay, benefits, grievances, or work hours
Click here to learn more about TransCare® III.
*Where allowed by the state.
** Identical benefit amounts must be used in conjunction with the Shared Care Benefit Rider or the Joint Waiver of Premium Rider. The only exception is when a couple also chooses the Tailored Benefit Increase Option (BIO) Rider and one individual in the couple is over age 69. In that case, the younger member of the couple may choose the Tailored BIO Rider and the older member of the couple may choose either the Step-Rated or Compound BIO Rider and continue to keep either the Shared Care Benefit Rider and/or the Joint Waiver of Premium Rider.
** Identical benefit amounts must be used in conjunction with the Shared Care Benefit Rider or the Joint Waiver of Premium Rider. The only exception is when a couple also chooses the Tailored Benefit Increase Option (BIO) Rider and one individual in the couple is over age 69. In that case, the younger member of the couple may choose the Tailored BIO Rider and the older member of the couple may choose either the Step-Rated or Compound BIO Rider and continue to keep either the Shared Care Benefit Rider and/or the Joint Waiver of Premium Rider.
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