transamerica universal life insurance

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Universal Life • Whole Life • Critical Illness • Group Term Life • Short-Term DisabilityOut-of-Pocket Medical Expense Indemnity • Hospital IndemnityAccident • Cancer • Vision • Legal Plan

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Page 1: Transamerica universal life insurance
Page 2: Transamerica universal life insurance

TransLegacyTransLegacy is easy and convenient:

o Payroll deduction rates are available for eligible

employees

o Benefits are paid in addition to any other insurance the

insured may have.

o Benefits are paid directly to the insured.

o No physical exams or blood tests are required

Policy form series CPGLDU00 and CCGLDU00.

Page 3: Transamerica universal life insurance

How TransLegacy Works• Flexible payment options for premium

• You can make changes to your benefits based on your needs and lifestyle, or keep the death benefit level

• Contract loan availability

• Optional riders

TransLegacy

Page 4: Transamerica universal life insurance

TransLegacy Advantages• Issue Ages: Employee 16-70

Spouse 16-65Children 15 days-24Note: Coverage is also available for grandchildren

• Enhanced living benefits• Interest rate: 5.25% current; 4% guaranteed• Surrender Period: Level for years 1-4 and declines out to 14

years.• Employee Coverage:

– Minimum is $5,000 and $4.00 per week– Guaranteed Issue up to $50,000– Conditional Guaranteed Issue up to $150,000– Simplified Issue up to $200,000

TransLegacy

Page 5: Transamerica universal life insurance

Base Coverage Includes:• Accelerated Death Benefit for Terminal Illness Rider

o When death is expected within 12 months, benefit amount up to

50% of the death benefit or $100,000, whichever is less

• Waiver of Monthly Deductions Due to Layoff Rider

o Total monthly deductions for insured employee are waived up to six

months if layoff by employer

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Forms CRABTI00 and CRULWT00.

TransLegacy

Page 6: Transamerica universal life insurance

Waiver of Monthly Deductions Due to Layoff Rider (Included in Base

Coverage)

Total monthly deductions for insured employee are waived if

layoff by employer

o Employee must be employed on a full-time permanent basic at

the time of layoff

o Layoff must be due to:o Reduction in work force due to economic conditions

o Decrease in employer production

o Employer’s reorganization causing a discontinuation of employee’s

job

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRULWT00.

TransLegacy

Page 7: Transamerica universal life insurance

Accelerated Death Benefit for Terminal Illness Rider (Included in Base Coverage)

o Death expected within 12 months and must be diagnosed by physician

o Benefit amount = Up to 50% of the death benefit or 100K, whichever is less

o $100 administrative fee and one years interesto Costs applied to the benefit amount and any loan balance will

be proportionally applied to benefit amountso Issue Ages

o Issue ages for employees= 16-70o All insured family members= 0-65

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRABTI00.

TransLegacy

Page 8: Transamerica universal life insurance

TransLegacySM Child Level Term Insurance Rider (Employee Option)

This rider allows the employee or spouse (but not both) to add

Level Term Life insurance to his or her UL contracto $5,000 or $10,000 of coverage available for children 15 days

through age 17

o Coverage terminated at the child’s 25th birthday or when child

ceases to be a dependent.

o Child can convert the term life coverage to a permanent plan

of insurance without evidence of insurability

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRCHIL00.

Page 9: Transamerica universal life insurance

TransLegacy Optional Coverages• Waiver of Monthly Deductions for Total Disability Rider• Accelerated Death Benefit for Long Term Care Rider• Extension of Benefits Rider (sold in conjunction w/ the LTC

Rider)

• Accelerated Death Benefit for Critical Care Condition Rider

• Accidental Death & Dismemberment Rider• Automatic Face Amount Increase Rider (3 and 5 year

options)

• Level Term Insurance Rider (10 and 20 year options)

TransLegacy

Page 10: Transamerica universal life insurance

Waiver of Monthly Deduction for Total Disability (Employer Option)

This optional rider waives the total monthly deductions for coverage

when the owner becomes totally disabled.

o Owner’s total disability must begin after age 16 and prior to

age 60.

o The benefit is not available upon the disability of an insured

spouse or insured dependent child.

o $5,000 or $10,000 available

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRWMD00.

TransLegacy

Page 11: Transamerica universal life insurance

Accelerated Death Benefit for Long Term Care Rider(Employer Option)

o Eligibilityo Employee issue ages = 16-70

o Spouse issue ages = 16-65

o Home health or adult services:o Pays 2% of face amount per month up to 50 months

o Confinement in nursing home or assisted living facility:o Pays 4% of face amount per month up to 25 months

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRABLT00.

TransLegacy

Page 12: Transamerica universal life insurance

Accelerated Death Benefit for Long Term Care

Rider(cont.)

o Requires assistance performing two ADL’S

o Policy values are reduced proportionally

o 30 day sickness waiting period from policy effective

date

o 90 day elimination period once chronically ill

TransLegacy

Page 13: Transamerica universal life insurance

Extension of Benefits Rider with Paid Up Benefit (sold

with ADB for LTC Rider) (Employer Option)

o Pays the benefit if the insured is still confined to a licensed nursing

or assisted living facility after the first 25 months.

o EBR extends the monthly benefit amount equal to either 2% or 4%

of the rider face amount on a month-to-month basis.

o The insured must continue to meet the requirements to receive

this benefit.

o Benefits are paid up to an additional 25 or 50 months, at which time,

benefits cease and coverage terminates.

Rider form series CREXTB00.

TransLegacy

Page 14: Transamerica universal life insurance

Accelerated Death Benefit for Critical Condition Rider(Employer Option)

• Early payout for first time diagnosis of these critical conditions:

o Cancer, Heart Attack, Major organ transplant surgery,

Renal Failure, Stroke

o The owner can receive up to 100% of the rider face amount

or $100,000, whichever is less

o 30-day waiting period

o The following conditions are not covered:o Transient ischemic attacks (TIAs)

o Skin cancerUnderwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRABCC00.

TransLegacy

Page 15: Transamerica universal life insurance

Accidental Death & Dismemberment Rider (Employer Option)

o This optional rider provides an additional death benefit if the insured

employee or spouse dies as the result of an accidental bodily injury.

o The AD&D benefit amount is the same as the face amount of the base

certificate. (Up to a maximum AD&D coverage amount of $100,000)

o The rider terminates on the anniversary after the insured’s 70th birthday

o Eligibility:o Employee and spouse age 16 through 65.

o Children are not eligible for this rider.

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRADD100.

TransLegacy

Page 16: Transamerica universal life insurance

Accidental Death & Dismemberment Rider (cont.)

A specified percentage of the accidental death benefit, is payable for specific dismemberments caused by a covered

accidental bodily injury as shown below.

Dismemberment Payment Schedule

o Loss of two or more members (“member” refers to hand, foot, or sight of an eye) . . . . 100%

o Quadriplegia (total and permanent paralysis of both upper and lower limbs) . . . . . . . . 100%*

o Loss of speech and loss of hearing in both ears . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100%*

o Paraplegia (total paralysis of both lower limbs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75%*

o Loss of one member or loss of speech or loss of hearing in both ears . . . . . . . . . . . . . . 50%*

o Hemiplegia (total & permanent paralysis of the upper and lower limbs of one side of the body). . . . . . . . . . . . . . 50%*

o Loss of hearing of one ear . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 25%

o Loss of thumb and index finger on the same hand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25%

* Benefits for loss of hearing and quadriplegia, paraplegia and hemiplegia may not be included in all jurisdictions.

TransLegacy

Page 17: Transamerica universal life insurance

Automatic Face Amount Increase Rider (Employer Option)

This rider automatically increases the contract’s

face amount on each annual contract date for

the first 3 or 5 year options.

o Available for spouse coverageo Spouse automatic increase will occur for only the

first 3 years by how much $1 per week will purchase

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRBUCK00.

TransLegacy

Page 18: Transamerica universal life insurance

Level Term Insurance Rider (Employer Option)

This rider provides Level Term Life insurance for a

specified period of time.

• Only available for the employee’s policy and the

employee must elect at least the minimum face

amount of base UL coverage

• At the end of each term, the coverage of the LTR

will terminate.

Underwritten by Transamerica Life Insurance Company, Home Office, Cedar Rapids, Iowa. Rider Form Series CRISLT00.

TransLegacy

Page 19: Transamerica universal life insurance

Limitations and Exclusions

This is a brief summary of TransLegacy coverage. Some of the features highlighted are subject to certain limitations and exclusions. Please refer to your policy and/or sales literature for costs and further details, including specific limitations and exclusions. Availability of benefits varies by jurisdiction. Refer to the contract for complete information.

Note: This Power Point should be presented with the TransLegacy Consumer Brochure and Rider inserts that include the full list of Limitations and Exclusions.

Page 20: Transamerica universal life insurance

Questions?

TransLegacyUniversal Life Insurance