the importance of Planning Ahead TRENDSETTER TERM LIFE INSURANCE

Transcription

1 the importance of Planning Ahead TRENDSETTER TERM LIFE INSURANCE

2 Studies show that a staggering 7 out of 10 families with children under 18 would have trouble paying the bills if the household breadwinner passed away unexpectedly. the Trendsetter protection for life s unpredictability Series The Importance Of Planning Ahead Planning for life s unpredictability is always a challenge. More than ever, providing financial security for loved ones seems particularly difficult. We work to build up savings, pay off debt, plan for retirement and generally look for safety nets to help create a sense of security in case of a rainy day. Yet, heads of households often worry about whether their families could make ends meet if something were to happen to them. Their fears are warranted. Studies show that a staggering 7 out of 10 families with children under 18 would have trouble paying the bills if the household breadwinner passed away unexpectedly. 1 What s more, there are always concerns that an illness or injury could affect their ability to earn an income and pay monthly expenses. While there is no way to completely eliminate these risks, the good news is that there are options for protecting those you love should the unexpected happen. 2 Trendsetter Series Term Portfolio

3 Life Insurance A Guaranteed Safety Net Life insurance is one of the most cost-effective safety nets for families seeking financial security in the event of an unexpected death, illness or injury. And term life insurance is a particularly attractive, straightforward solution. It can give you a large amount of coverage for a competitive monthly cost, and is also one of the few areas where you can still find guarantees in today s unpredictable economy. You Can Use A Term Policy To: Provide a guaranteed monthly income stream to make sure that the day-to-day living expenses of your beneficiaries will be covered Layer multiple policies to match specific needs such as a mortgage, a child s college education, or the ongoing care of a loved one Have a cash resource to help pay unexpected health care costs that can arise from a qualifying chronic, critical or terminal illness Ensure a fair distribution of funds among dependents from current and previous relationships Protect against the loss of a key employee in a small or family-owned business t r a n s a m e r i c a 3

4 the trendsetter series term life insurance to fit your needs Transamerica Life Insurance Company s Trendsetter Series combines all the benefits of term life insurance with policy choices that can help meet your needs, featuring the versatility of Trendsetter Super and Trendsetter LB. Trendsetter Super offers cost-effective monthly premiums, coverage options for those in their mature years, the ability to get a policy for amounts of $25,000 to $99,999 without the need for a medical exam, 2 and a Return of Premium (ROP) Rider that allows you to get money back at the end of your level premium period. 3 Trendsetter LB offers Living Benefits which can give you early access to policy benefits if you are stricken with a qualifying chronic, critical or terminal illness such as stroke, cancer, heart attack or paralysis. Trendsetter LB also offers coverage up to $249,999 without a medical exam 4 and the ability to add the Monthly Disability Income Rider to your policy. 5 You can choose from different coverage amounts, lengths, and optional add-ons to personalize your policy. A Simple Approval Process For Life Insurance Coverage While certain types of life insurance coverage may require a high-involvement, multi-step approval process, a Trendsetter term life insurance policy can make it easy to get the coverage you need to protect the people you love. Through a simplified approval process that does not require you to take a medical exam, you can get up to $99,999 in life insurance coverage with Trendsetter Super or up to $249,999 with Trendsetter LB. Higher amounts of coverage are available through our full underwriting process. The Option To Access Your Benefits Early If You Need It Most people don t want to think about facing a terminal illness like cancer or being stricken with a critical illness like heart attack or stroke or suffering a chronic illness leaving them unable to perform activities of daily living. Unfortunately, recent studies show that nearly half of all adults suffer from at least one chronic illness, and many of these people have one or more daily activity limitations. Chronic diseases such as heart disease, stroke, cancer, diabetes, and arthritis are among the most common and costly of all health problems in the U.S. and are also the leading causes of death and disability. 6 All Trendsetter policies offer coverage to protect against terminal illness at no extra premium charge, and with Trendsetter LB policies you get additional Chronic and Critical Illness Accelerated Death Benefits to give you an extra level of protection against unforeseen illness. 4 Trendsetter Series Term Portfolio

5 how to choose the right coverage personalized protection There are four basic questions you need to think about when deciding what you need from your insurance coverage: Who depends on me for financial support? If you re married, how much support would your spouse need to maintain the household? If you have young children, how much support will they need and for how long until they are able to support themselves financially? And you may also want to plan for future events such as schooling, college or weddings. In today s economy, you may also want to consider whether you should include adult children who have been unable to find a job or start a career, or even parents who may need financial assistance in retirement. How much coverage do I need? How many loved ones rely on your income and would struggle financially if something were to happen to you? You could use your monthly income as a basis for estimating how much money your family would need in the event of your death. Another way of determining coverage needs is to think about how much you spend per month on household expenses such as home costs, bills, automobile, and basic necessities, and planning for at least enough coverage to pay those costs on an annual basis for as many years as you feel your loved ones or dependents may need the money. How long do I want the coverage for? How old are your dependents or beneficiaries, and how long do you think they will need the insurance benefits? You can get a policy with 1-, 10-, 15-, 20-, 25- or 30-year initial level premium periods, and those numbers can be used to help determine how long you want your coverage to last. Which policy works best for me? The policy you choose depends on what features or options appeal to you most. We offer two different term portfolios to choose from, and each has distinct benefits to help you personalize your coverage for your family s specific needs. t r a n s a m e r i c a 5

6 don t wait until the unexpected happens to begin preparing. start today. Choose A Term That Makes Sense For You Policies are available with 10-, 15-, 20-, 25-, or 30-year initial level premium periods, or you can get a Super YRT policy that allows you to renew your coverage every year. Jim, 39, has a wife, Julie, and 2 young children living at home. Jim and his wife recently took out a 15-year mortgage on a new home, and Jim wants to be sure Julie will be able to cover the mortgage and replace his income while his children progress through school and college. Jim decides that a 20-year Trendsetter Super policy would help meet his goals of finding the highest amount of coverage at the most competitive monthly cost to protect his loved ones financially should something happen and he can no longer be there for them. Provide A Guaranteed Monthly Income To Your Family 7 If you are concerned that a lump sum payment may be difficult for your beneficiaries to manage when you are gone, or you worry that the money may not last long enough, you can easily solve this dilemma using the Income Protection Option (IPO) available on every Trendsetter policy at no additional cost. Use the IPO to set up a benefit payout for your beneficiary(ies) as a guaranteed monthly income stream for up to 25 years, with or without an initial lump sum or final lump sum, or a combination of all three options. Have A Financial Reserve In Case Of Terminal Illness Trendsetter products offer an option called an Accelerated Death Benefit. This allows you to access your death benefit amount while you are still living if you are diagnosed with a terminal illness. Our Trendsetter LB product offers an additional feature of early access to your benefits if you are diagnosed with a qualifying chronic or critical illness and you need cash immediately to pay for treatment, long-term care, or other needs. This benefit is subject to state availability. Andrea, 34, is the breadwinner in her family, and she would like to find a life insurance policy to protect her husband and 3 children. Andrea is looking for a simplified process for getting covered, and she plans on using her policy to supplement her health insurance in the event she were to become chronically, critically or terminally ill. Andrea decides that a 25-year Trendsetter LB policy is the right choice to give her the extra peace of mind of knowing that no matter the situation, her loved ones have a financial safety net should something happen to her. No Medical Exam Required For Certain Amounts Of Coverage If you are looking for no-hassle coverage without a medical exam, our Trendsetter products offer several options for you. If you qualify, you can get up to $99,999 in coverage with Trendsetter Super or up to $249,999 in coverage with a Trendsetter LB policy. Personalize Your Policy With the options and policy riders available on Trendsetter products, you can easily personalize your policy to help fit your specific needs. The Monthly Disability Income Rider (available on Trendsetter LB) provides income in the event you become disabled and are unable to work for a period of time, and the Return of Premium Rider available on Trendsetter Super 20 and Super 30 policies allows you to get your eligible premiums back at the end of your initial level premium period. There are additional options that your insurance representative can discuss with you when you are considering which policy is right for you. 6 Trendsetter Series Term Portfolio

7 THE TRANSAMERICA ADVANTAGE: Stability And Strength To Transform Your Tomorrows When it comes to choosing a life insurance company, you want one you can depend on a company that will be there if, or when, the time comes for your life insurance benefit to be paid. Transamerica Life is a company you can trust. For more than 100 years, people have turned to Transamerica Life to help ensure the future financial security of their families. 8 With the many options available, the Trendsetter Series has a product for you that offers protection, value and convenience. Talk to your life insurance professional or Transamerica Life to learn more about how you can protect your loved ones starting today. t r a n s a m e r i c a 7

8 1 2 The $25,000 to $99,999 rate band on Trendsetter Super (Band 1) is only available on the Standard Nonsmoker and Standard Smoker risk classes on a non-med basis with the following specifications: For issue ages 18-60, the policy can be issued on a non-med basis for face amounts between $25,000 and $99,999. For issue ages 61 to 70, the policy can be issued on a non-med basis for face amounts between $25,000 and $50,000. Face amounts and/or ages above these limits are available on a fully underwritten basis. 3 Provides for return of 100% of eligible premiums at the end of the initial level premium period. Excludes substandard and other rider premiums. Only available on Trendsetter Super 20 and Super The $25,000 to $99,999 rate band (Band 1) and the $100,000 to $249,999 rate band (Band 2) on Trendsetter LB are available on the Standard Nonsmoker, Standard Smoker, Standard Express Nonsmoker and Standard Express Smoker risk classes on a non-med basis. Non-med requirements include the application, non-medical application supplement (part 2), a Medical Information Bureau release form, prescription check and a possible personal history interview and/or an Attending Physicians Statement. 5 Not available on Trendsetter LB 10 or Trendsetter Super Series. 6 Centers for Disease Control and Prevention. Chronic Diseases and Health Promotion; May, All guarantees are based on the claims-paying ability of Transamerica Life Insurance Company. 8 Transamerica Life Insurance Company continues the tradition of service established in 1906 when the original Transamerica life insurance company was founded. Benefits provided through the Living Benefits, including the critical, chronic and terminal illness accelerated death benefits, are subject to certain limitations and exclusions. Amounts payable under the benefits vary based in part on the nature and severity of the insured s health condition and the insured s remaining life expectancy at the time of the acceleration as determined by the company. Refer to the policy contract for complete details. Certain riders are available at an additional cost. Riders and rider benefits have specific limitations and may not be available in all jurisdictions. For complete details including the terms and conditions of each rider and exact coverage provided, please consult a Transamerica agent. Trendsetter Super Series (Policy Form Nos , , , , , and ) and Trendsetter LB (Policy form TL19) are term life insurance policies issued by Transamerica Life Insurance Company, Cedar Rapids, IA Premiums increase annually starting in year 2 for yearly renewable term, in year 11 for the 10-year policies, in year 16 for the 15-year policies, in year 21 for the 20-year policies, in year 26 for the 25-year policies, and in year 31 for the 30-year policies. Policy forms and numbers may vary and these policies may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid. OL