Get to know Transamerica

Transcription

1 Get to know Transamerica We know that each of your clients is unique in his or her need for insurance protection. Some may have young families and a mortgage, while others may be single parents who dream of a post-secondary education for their children. The protection strategy that works for one family will not work for every family, because each family is different, with their own individual needs and goals. That s why we offer a wide range of products that work on their own, or can be layered to create a protection strategy for each family that is as individual as they are.

2 Universal life For families that want a savings component to their insurance protection, universal life (UL) insurance may be the right solution. A universal life policy can help achieve many of your clients financial goals by: Building assets for their children Helping to protect their mortgage Enhancing their retirement income Helping to protect their retirement savings in case of an occupational disability, the need for long-term care or a disability caused by one of 26 critical illness* Providing financial options and solutions for small businesses

3 The Benefits of Living Benefits Often people think of life insurance as benefiting their family after they are gone. While this is true, life insurance can also help your clients while they are here, through what are called Living Benefits. Living Benefits are an important feature built into all Transamerica universal life plans at no additional cost to the policyholder. Available at any age, this UL feature helps your clients and their families cope with the financial impact of a disability. ** Providing your clients with peace of mind and flexibility, Living Benefits from Transamerica provide tax-free * and surrender charge-free access to their fund value upon disability. This benefit covers disabilities caused by a disease or an injury and those caused by a comprehensive list of 26 critical conditions, including the need for long-term care. * Under the Income Tax Act (Canada) and at the date of publication of this website, the receipt of Living Benefits is not currently taxable. Transamerica does not guarantee nor is it responsible for the tax treatment applicable to this policy feature. Please consult your legal or tax advisor for an opinion on this matter in relation to your particular circumstances. ** As the fund value may not have significantly accumulated in the early years of your policy, the available Living Benefits may not be sufficient to cover your disability needs. When speaking with your advisor about your current and future needs, you may want to discuss the potential for additional disability insurance or critical illness insurance to cover shorter-term needs. For information on what qualifies as a disability and for the determination of the benefit amount available to you, please refer to the contract provisions. Disabilities caused by pre-existing conditions do not qualify. 1

4 Additional riders for UL policies Transamerica offers the following riders that can cover your clients while they are living and at time of death to help ensure that they maintain their UL insurance policy: Critical Illness Protection Rider (4-condition or 25-condition) This rider pays a one-time lump-sum payment if your client becomes critically ill with one of the critical illness covered conditions and survives the survival period. There is also an Early detection benefit available on the 25-condition rider. The Early detection benefit provides a one-time lump-sum payment if your client is diagnosed with one of the early detection covered conditions and survives the survival period. This rider also includes unlimited access to Advance Medical at no extra cost. This extra-contractual benefit provides your clients and their immediate family access to the world s leading medical experts to review their medical case and provide an expert opinion on any medical or diagnosed condition. Subject to program availability. Children s Insurance Rider This rider provides low-cost term life coverage on the lives of your clients children, along with the ability to guarantee their insurability should they want to purchase their own coverage when they become adults. AD&D Accidental Death and Dismemberment Rider Provides an additional benefit in the case of dismemberment or death resulting from an accident. In the case of accidental death or dismemberment, an AD&D Rider can help your client cope with loss of income and/or extra expenses not covered by provincial health care programs. Waiver of Planned Premium Rider This rider ensures that your clients life insurance will continue if they suffer a disability. The Waiver of Planned Premiums Rider will pay your clients planned premiums (up to a defined maximum) for them, should they become totally disabled before age 65. By continuing to fund your clients premiums, this powerful optional rider protects both their insurance coverage and their tax-deferred savings. Waiver of Monthly Deductions Rider This rider will provide your clients with peace of mind, knowing that if they become totally disabled before age 65, the coverage put in place for their family will continue, with the monthly insurance charges being waived. This option does not cover premium payments in excess of the insurance charges (available on select plans only). Payor Waiver of Planned Premium Transamerica will continue to make premium payments (up to a defined maximum) to a child s protection should the person who is responsible for paying the premiums (also known as the payor ) die or become totally disabled. (Available on select plans only.) Payor Waiver of Monthly Deductions Transamerica will keep a child s protection in place by paying the insurance charges, should the person who is responsible for paying the premiums, known as the payor, die or become totally disabled. Insurance protection will continue uninterrupted, with monthly insurance charges waived. Term Riders Term Riders from Transamerica add an extra layer of temporary insurance protection for 10-, 20- or 30-year terms to your client s UL policy. 2

5 Term life insurance products Term insurance from Transamerica can provide low-cost protection on a temporary basis for a fixed amount of time 10, 20 or 30 years. Transamerica s term insurance offers your clients flexibility to tailor their coverage directly to their needs. Additional riders for term policies Transamerica offers the following riders that can cover your clients while they are living and at time of death to help ensure that they maintain their term insurance policy: Critical Illness Protection Rider (4-condition or 25-condition) This rider pays a lump-sum payment if your client becomes critically ill with one of the critical illness covered conditions. This rider also includes unlimited access to Advance Medical at no extra cost. This extra-contractual benefit provides your clients and their immediate family access to the world s leading medical experts to review their medical case and provide an expert opinion on any medical or diagnosed condition. Subject to program availability. Children s Insurance Rider This rider provides low-cost term life coverage on the lives of your clients children, along with the ability to guarantee their insurability should they want to purchase their own coverage when they become adults. AD&D Accidental Death and Dismemberment Rider Provides an additional benefit in the case of dismemberment or death resulting from an accident. In the case of accidental death or dismemberment, an AD&D Rider can help your clients cope with loss of income and/or extra expenses not covered by provincial health care programs. Waiver of Planned Premium Rider This rider ensures that your clients life insurance will continue if they suffer a disability. The Waiver of Planned Premiums Rider will pay your clients planned premiums for them, should they become disabled. Payor Waiver of Planned Premium - Transamerica will continue to make premium payments (up to a defined maximum) to a child s protection should the person who is responsible for paying the premiums (also known as the payor ) die or become totally disabled. (Available on select plans only.) Term Riders Term riders will add additional layers of temporary insurance protection for 10-, 20- or 30-year terms and can be added to any term life policy. 3

6 Available with all UL and term policies Compassionate Assistance Program (CAP) Transamerica offers the following program on all of our life insurance policies at no additional cost. The Compassionate Assistance Program from Transamerica provides your clients with the option of taking out a loan against their death benefit if they are diagnosed with a terminal illness or terminal injury and their life expectancy is less than 24 months. *** *** Twelve months or less if your client is between the ages of 72 and 77 with a term policy. 4

7 Transamerica Life Canada is a leader in the Canadian marketplace, providing a broad range of individual life insurance and protection products and services, all designed to help Canadians protect against financial risk and transform their tomorrows. Distribution is through a number of channels, resulting in a national network of thousands of independent advisors. For over 100 years, Transamerica Life Canada has been delivering on its promises, and intends to continue that strength and stability to be able to keep making the things that make tomorrow better. Transamerica Life Canada is an Aegon company. As an international insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon companies employ over 23,000 people and have millions of customers across the globe. Giving back to the community in different ways is a part of who we are at Transamerica Life Canada. Each year, we allocate funds to our in the spirit of hope charitable giving program, which donates to numerous non-profit organizations that serve health, community and well-being causes across the country Yonge Street Toronto, Ontario M2N 7J8 Aegon and the Aegon logo are registered trademarks of Aegon N.V. Aegon Canada ULC and its affiliated companies are licensed to use such marks. Transamerica and the pyramid design are registered trademarks of Transamerica Corporation. Transamerica Life Canada is licensed to use such marks. LP1600 3/14