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March 12, 2008 at 12:52 PM
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.
