Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Second-To-Die Policy Offers Nearest-Birthday Rates

Your article was successfully shared with the contacts you provided.

Transamerica Occidental Life Insurance Company has introduced the TransACE Survivor 2008 life insurance policy.

The policy is a no-lapse, second-to-die universal life insurance policy that pays on the death of the surviving joint-insured, according to Transamerica Occidental, Los Angeles, a unit of Aegon N.V., The Hague, Netherlands.

The company uses the “age nearest birthday” pricing approach.

Issue ages for the preferred and standard classes with a level-death benefit option are 16 to 85 for the younger joint insured and 16 to 89 for the older joint insured.

The maximum age for the younger joint insured has increased from 80, according to Transamerica Occidental.

For many other classes, issue ages range from 16 to 80.

The minimum death benefit is $250,000.

Five risk classes are available, and one of the insureds can be “uninsurable.”

Premiums are flexible if the policy owner pays the cumulative minimum required premiums during the first 5 policy years, Transamerica Occidental reports.

Transamerica Occidental is responsible for backing the product guarantees.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.