NU Online News Service, Aug. 15, 12:10 p.m. – Transamerica Occidental Life Insurance Company, Los Angeles, is introducing a new 30-year term life insurance policy, the Trendsetter Super 30 policy.
The policy, which replaces Transamerica’s Trendsetter 30/10 policy, offers guaranteed level premiums for 30 years for policies with minimum face amounts of $100,000.
The policy comes with a feature that gives holders the ability to convert the term coverage to universal or variable-universal life coverage.
Transamerica executives say they believe the new policy will be especially attractive to buyers in their 30s and 40s.
Transamerica is a unit of AEGON N.V., The Hague, Netherlands.