Transamerica Occidental Life Insurance Company has introduced the Trendsetter ROP 30 life insurance policy.

The 30-year return of premium term life policy is a level-death-benefit term life policy that is guaranteed renewable to age 95.

The premiums are guaranteed level for the first 30 years and thereafter increase annually until age 95, according to Transamerica Occidental, Los Angeles, which is a unit of AEGON N.V., The Hague, Netherlands.

Return-of-premium cash values begin in year 6 and increase each year to 100% of the eligible premium at the 30th anniversary.

Trendsetter ROP 30 refunds the client’s regular policy premiums at the end of a 30-year level-premium period, Transamerica Occidental says.

If a policy is canceled after year 6, the policy refunds a portion of the eligible premiums paid to date, the company says.

The policy also offers prices based on the age of the applicant on the applicant’s last birthday. The feature can help lower costs for applicants who are within 6 months of their next birthday, Transamerica Occidental says.