Transamerica has applied some changes to their term portfolio as well as instated a rate increase. The desktop quoting software 'Transamerica Life Products Illustration System' is now only good for quoting FE and IUL.

To quote term cases moving forward, use Click ‘software,’ click ‘launch my transware,’ and then ‘click to access my transware.’ This is the only approved way to currently quote their term portfolio.

Portfolio Price Adjustments

Transamerica is committed to providing the flexible and versatile products that today's clients need. As of May 2017, the Trendsetter® term product portfolio is being re-priced to comply with industry requirements. The new 2017 Commissioner's Standard Ordinary (CSO) tables are being implemented on the portfolio.

Please note that changes are not being made for California and New York at this time. The old premium rates, riders, and product specifications will remain in effect for the Trendsetter® LB in California and the Trendsetter Super in California and New York. The Trendsetter LB is not available in New York.

For more information regarding Puerto Rico, click here.

Portfolio Updates

Key changes for the Trendsetter portfolio are listed below. Be sure to review all changes and additional information provided.

Transamerica Trendsetter Portfolio Updates 2017
Transamerica Trendsetter Portfolio Updates 2017

Living Benefits Coverage

Certain medical conditions will impact an individual's eligibility for Living Benefits coverage and Transamerica reserves the right to decline Living Benefit riders or products based on an individual medical history.

The following are some conditions that are not eligible for Living Benefits coverage:

  • Parkinson's disease 
  • Multiple sclerosis
  • Any ratable cancer history
  • Cancers treated with radiation and/or chemotherapy
  • Any case rated higher than Table D or given a flat extra over $2.50 per thousand

**Underwriting reserves the right to rate the base policy, remove benefits, or offer a different product based on medical information obtained during the underwriting process.

Transition Rules

Please review the transition rules that were sent on April 25, 2017.

New Illustration Software

Along with the Trendsetter portfolio revisions, we are pleased to introduce myTransWareSM, our browser- based product illustration platform that will be replacing TransWare over the next year.

MyTransWare will be accessible from the Financial Professional website you access to conduct business with Transamerica. myTransWare will support new products as they are made available for sale.

To learn more about using myTransWare to run your term quotes click here.

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