Transamerica Announces Expansion of Term and Universal Life Portfolios

LOS ANGELES --Feb. 14, 2003--Building on its reputation as a leading provider of insurance products, Transamerica Occidental Life Insurance Company (Transamerica) announced enhancements to its term and universal life (UL) portfolios.  

Transamerica strengthened its position in the term life insurance market by extending the issue ages(1) on its 10-, 15- and 20-year Trendsetter(R) Super Series term life insurance products for 2003. This series offers guaranteed premiums for 10, 15, 20 and 30 years on coverage of $100,000 or more, plus an option to convert to permanent coverage.  

"Transamerica understands that older clients want more choices for protection," explained Bill Tate, senior vice president and chief marketing officer for Transamerica. "Expanding the issue ages for these products enables us to address the needs of the expanding older-age market." The conversion option allows individuals to exchange their term policy for a UL or variable UL policy from Transamerica (for the same or lower face amount), regardless of health.  

Further bolstering its position as a leader in the UL arena, Transamerica launched a new UL portfolio featuring a host of consumer-friendly features. Each of the UL products in Transamerica's portfolio(2) now offers age-last-birthday pricing. "This pricing basis is a real plus, especially in the older-age market," said Tate. In addition, the portfolio offers a new Select Nonsmoker underwriting class, new premium bands for both single- and joint-life plans, no maturity date, and a built-in full death benefit rider.  

"As one of the first major companies to offer a universal life policy," Tate said, "Transamerica has been in the forefront of UL product development. This enhanced portfolio demonstrates our ongoing commitment to offer products that give customers the best combination of features and benefits in the marketplace."  

Among the products in the portfolio is TransUltra(R) EX, an individual life policy with benefits payable on the death of the insured providing income for spouse or heirs; it is used in business planning as well as personal estate planning situations.  

TransSurvivor(SM) EX is a cost-effective survivorship policy primarily used to provide estate liquidity; based on the lifetime of the survivor of two joint insureds, its benefits are payable upon the death of the second insured.  

TransACE(SM) EX is an individual policy with an assured coverage endorsement built in, which guarantees "no-lapse" coverage for the duration of the insured's life, provided certain conditions and premium requirements are met.  

TransACE Survivor(SM) EX is a survivorship policy that also includes an assured coverage endorsement, which guarantees "no-lapse" coverage for the lifetime of the surviving joint insured, provided certain conditions and premium requirements are met.  

TransUltra Select(SM), an individual life insurance policy, offers all the features of TransUltra(R) EX to nonsmokers between the ages of 16 and 80 who qualify for the new "Select Nonsmoker" underwriting class.  

Similarly, TransACE(SM) Select is another individual policy that offers the same no-lapse guarantee as TransACE(SM) EX to those who qualify for the new "Select Nonsmoker" underwriting class.  

Producers and registered representatives who wish to sell these products should contact one of Transamerica's Regional Marketing Centers--Western Region: 888-862-1936; or Eastern Region: 888-558-8743.  

Transamerica Insurance & Investment Group markets an array of innovative financial services and products designed to help individuals, families and businesses build, protect and preserve their assets. Many of those products and services are underwritten by Transamerica Occidental Life Insurance Company or its affiliated statutory insurance companies.  

Transamerica Occidental Life is a member of the AEGON Group, a multinational insurance organization headquartered in The Hague, the Netherlands. The AEGON Group is one of the world's leading life insurance and financial services organizations.  

http://www.transamerica.com  

(1) Trendsetter(R) Super 10: issue ages 18 to 80; Trendsetter(R) Super 15: issue ages for nonsmokers 18 to 73; issue ages for smokers 18 to 70; Trendsetter(R) Super 20: issue ages for nonsmokers 18 to 65; issue ages for smokers 18 to 60 (no increase in issue ages for this class). New extended issue ages not valid in Washington. New age ranges are also not valid in states that have not yet approved the increase. Issue ages for Washington remain as they were in 2002: Trendsetter(R) Super 10: issue ages 18 to 75; Trendsetter(R) Super 15: issue ages 18 to 65; Trendsetter(R) Super 20: issue ages 18 to 60.  

(2) The UL policies and/or features may not be available in all jurisdictions.  

  CONTACT: Transamerica Nicole G. Lorey, (213) 741-5809 [email protected]