Transamerica Financial Life Insurance Company is a member of Aegon Insurance Group, one of the top 50 largest public financial companies in the world based on assets.
This option allows the policyowner to change his or her policy to a level face amount whole life, universal life or variable universal life insurance policy made available by the Company at the time of exchange. No underwriting will be required if the exchange is to a permanent policy with the same or lower face amount. Please email or call for conversion restrictions and details.
Optional Term Life Product Features
Accident Indemnity Rider:
Available with extra premium.
The rider pays an additional death benefit if the insured dies as a result of an accidental bodily injury. Double this additional amount is payable if the accidental bodily injury occurs while the Insured is a fare-paying passenger on a common carrier. Death must occur within 90 days from the accident and before age 70 of the Insured. The Insured cannot be engaged in hazardous occupations, as determined by the Company.
Issue ages 18-65. Please email or call for issue limits, details and premium rates.
Children's Insurance Rider:
Available with extra premium.
The rider provides insurance coverage on the children of an Insured. Each unit is equal to $1,000 of level term insurance that expires at each child's age 25 or the anniversary nearest the Insured's age 65, whichever occurs first.
Issue age are 18-55 for the Insured and 15 days-18 years for the Child. A maximum of 20 units may be purchased. Cost is $5.83 annually per unit.
Waiver of Premium:
Available with extra premium.
In the event of total disability before the Insured's age 60 and after a waiting period of six months, premiums will be waived retroactively from the policy anniversary nearest the beginning date of the disability. Premiums will continue to be waived during the duration of the total disability.
Issue ages 18-55. Maximum face amount is $5,000,000. Some restrictions apply. Please email or call for details and premium rates.
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