Transamerica Secure® & TransCare® III
Now Available in Florida
We are pleased to announce that Transamerica Secure and TransCare III are now available in Florida. Beginning September 12, 2014, Florida agents can quote and take applications for both policies.
Transamerica Secure
Transamerica Secure is our response to extensive consumer research that shows that middle-class working families are interested in purchasing LTCi as long as it’s easy to understand, within their budget, and has benefits they can use.
Transamerica Secure can be used for both individual and worksite cases. It includes features that are:
- Comprehensive – A stand-alone LTCi policy with built-in key benefits like Shared Care, Monthly Benefit, and inflation protection along with our standard benefits
- Affordable – Rates as low as $83 per month for couples*
- Easy – Prepackaged Pool of Money plans with e-app convenience
Transamerica Secure is easy to understand and easy to promote. In Florida, your clients can choose from prepackaged plans with Policy Maximum Amounts of $55,000, $110,000, $150,000, or a Freedom to Choose option of up to $220,000.
Transamerica Secure also includes Cash Benefit and Remain at Home Benefit with 0-Day Elimination Periods, Return of Premium to Age 67, and Care Coordination – with additional riders that fit the needs of the middle market. It opens up new opportunities for you to expand your client base with minimal effort.
TransCare III
TransCare III will be used when selling to individuals or associations where employment is not a condition of membership and when the association does not speak on behalf of the members in matters of pay, benefits, grievances, or work hours.
As the 41st state to accept the TransCare III product, Florida policyholders can benefit from the more robust offerings of TransCare III compared to TransCare II including:
- Increased Maximum Daily Benefit from $400 to $500
- Extended Policy Elimination Period to 365 days
- Couples Discount Increased to 30%, plus couples can apply for different benefits and maintain the 30% discount.
- Elimination Period Credit Rider applies Home and Adult Day Care Benefit days toward the Elimination Period
- Tailored Benefit Increase Option Rider compounds the Maximum Daily Benefit and Policy Maximum by 5% on each anniversary prior to age 61, by 3% from age 61 to 75, and goes to zero after age 75
- Enhancements to the Deferred Benefit Increase Option (BIO)
- Step-Rated and Tailored Benefit Increase Options are included as BIO choices on the 1st, 3rd, and 5th anniversary of the policy
- BIOs are priced at age of issue
Gender-based pricing reflects higher claim rates for females across the industry and helps improve discount rates for couples. This is not a rate increase, but an updated plan that better reflects the realities of claim data to ensure stability in the LTCi marketplace.
Important LTC eApp Information
LTC eApp is available for TransCare III and Transamerica Secure. It is a state requirement to include your FL Insurance License number within the application upon submission. (This is a required field to complete.) You will provide this information on the commission split page of the app.
TransCare II Deadline
TransCare II will continue to be sold to worksite cases, employees of an association, employees of association members, and associations that are labor organizations that speak on behalf of the applicant regarding any terms and conditions of employment.
All TransCare II applications for individuals or couples must be received in our home office no later than 5:00 p.m. Central Time Friday September 19, 2014.
Training Opportunities
To learn more about Transamerica Secure, TransCare III, and our LTC eApp, attend one of the following webinars. Register for a session now by clicking a date below:
Introducing Transamerica Secure in FL:
Comprehensive stand-alone LTCi for the middle market
Tue, Sep 16, 2014 1:00 PM – 1:30 PM CDT
Thu, Sep 18, 2014 1:00 PM – 1:30 PM CDT
Introducing TransCare III in FL
Mon, Sep 15, 2014 1:00 PM – 1:30 PM CDT
Wed, Sep 17, 2014 1:00 PM – 1:30 PM CDT
Fri, Sep 19, 2014 1:00 PM – 1:30 PM CDT
Order material now
To order or download TransCare III or Transamerica Secure marketing collateral and illustrations, visit our Agent Resource Center.