- 5,936
Not sure on that one, but it sounds like I'm going to have to send them an "amendment" out... let see how they like it.
So what's the deal with the new Transamerica product?
- Thread starter tribetime32
- Start date
Not sure on that one, but it sounds like I'm going to have to send them an "amendment" out... let see how they like it.
- 4,125
- 4,125
https://image.s4.sfmc-content.com/l...form&utm_content=alternatefinalexpense_block4
Is the only two things I found published by them so far
Is the only two things I found published by them so far
- 7,012
- 6,134
So you are telling me they aren't prepared for a smooth roll out?
- 7,012
So you are telling me they aren't prepared for a smooth roll out?
They're dead to me.
- 6,134
Took you a LONG time, but I knew you would come around
- 5,973
Pro's and Con's of any product change are going to be listed below; YES, the rates did increase about 20% because they will be using the 2017 CSO that every carrier is required to use by December 7th, 2019. What is the 2017 CSO? It is a mortality guide showing average life span, essentially rates go up every time this gets updated. Last update was about 18 years ago in 2001.
Accidental Death is from 18-70
Grandchild Rider is now 0-18 (used to only go to 17)
Face Amounts beneath 5,000 will have a high policy fee, meaning the price is higher per Unit (how do you avoid it? Make the face amount $5100 or more)
What did TransAmerica change for underwriting? ***IF IT IS NOT LISTED, IT DID NOT CHANGE***
-Height/Weight - (see attached Guides)
-Sleep Apnea - (no inhalers) is now standard (*with inhalers is two YES questions making it chronic respiratory and Sleep Apnea, product would be graded)
-Oxygen - is now GRADED (used to be a decline, now it is a two-year wait, keep in mind they pay full comp on all product rating classes, Preferred, Standard or Modified)
-HEP C - Graded ages 18-85 within 24 months and standard if treated and cured over 24 months
-Wheelchair/Scooter - Graded (no longer a decline)
-Assisted Living/LTC Facility - Graded within 24 months
-AFIB - no treatment over 24 months Preferred, within 24 months treatment - Standard
-Bipolar - changed from Preferred to Standard
-Cirrhosis - Graded
-CHF - Graded 45-80
-Coronary Artery Disease - Onset over age 45 standard, below decline
-Depression - Preferred
-Dialysis- Graded if received within one year
-Driving Record*- See below for more notes - Decline within 24 months for reckless, DUI or 3 or more moving violations, between 2-4 standard over 4 years preferred.
-Felony - within 2 years decline
-Kidney Disease - stage 4-5 Graded
-Marijuana - used within 4 years Standard, used within 2 years Graded
-Multiple Sclerosis - Standard
-Pacemaker/Defibrillator IMPLANT - within 1 year Graded, within 1-2 years Standard (I believe it will still be standard and circulatory if over 24 months, but will confirm)
-Parkinson's - Standard
-Parole/Probation- within 24 months, Decline
-Schizophrenia - 18-85 Standard
-Seizures - over 6 in a year is Graded, over 6 in 24 months is standard
Accidental Death is from 18-70
Grandchild Rider is now 0-18 (used to only go to 17)
Face Amounts beneath 5,000 will have a high policy fee, meaning the price is higher per Unit (how do you avoid it? Make the face amount $5100 or more)
What did TransAmerica change for underwriting? ***IF IT IS NOT LISTED, IT DID NOT CHANGE***
-Height/Weight - (see attached Guides)
-Sleep Apnea - (no inhalers) is now standard (*with inhalers is two YES questions making it chronic respiratory and Sleep Apnea, product would be graded)
-Oxygen - is now GRADED (used to be a decline, now it is a two-year wait, keep in mind they pay full comp on all product rating classes, Preferred, Standard or Modified)
-HEP C - Graded ages 18-85 within 24 months and standard if treated and cured over 24 months
-Wheelchair/Scooter - Graded (no longer a decline)
-Assisted Living/LTC Facility - Graded within 24 months
-AFIB - no treatment over 24 months Preferred, within 24 months treatment - Standard
-Bipolar - changed from Preferred to Standard
-Cirrhosis - Graded
-CHF - Graded 45-80
-Coronary Artery Disease - Onset over age 45 standard, below decline
-Depression - Preferred
-Dialysis- Graded if received within one year
-Driving Record*- See below for more notes - Decline within 24 months for reckless, DUI or 3 or more moving violations, between 2-4 standard over 4 years preferred.
-Felony - within 2 years decline
-Kidney Disease - stage 4-5 Graded
-Marijuana - used within 4 years Standard, used within 2 years Graded
-Multiple Sclerosis - Standard
-Pacemaker/Defibrillator IMPLANT - within 1 year Graded, within 1-2 years Standard (I believe it will still be standard and circulatory if over 24 months, but will confirm)
-Parkinson's - Standard
-Parole/Probation- within 24 months, Decline
-Schizophrenia - 18-85 Standard
-Seizures - over 6 in a year is Graded, over 6 in 24 months is standard
