Transamerica – Final Expense Product Updates

Final Expense Product Approvals in WA, IL & HI

Transamerica updated the Immediate Solution and 10 Pay Solution Final Expense life insurance policies for the states of Hawaii, Illinois and Washington as follows:

Updated Final Expense application kits will be available on all essential websites on May 20, 2016. There will be a 40-day transition period. The old application will be accepted if received by June 30, 2016, with the new application required as of July 1, 2016.

Illinois has approved an Amendatory Endorsement relating to the Incontestability provision. Starting on May 20, 2016, an
Amendatory Endorsement letter will be sent to all clients who hold an inforce policy informing them of this change.

Washington has approved the Accelerated Death Benefit Rider without a Nursing Home Benefit on the Final Expense Immediate and 10 Pay Solutions life insurance policies, effective May 20, 2016.
Posted in Bulletins.