By now you should already know about the launch of our new permanent life product – Transamerica Lifetime on December 7, 2019.
Launching this product successfully requires we enforce the guidelines below. Please use these transition guidelines to aid in your planning process and conversations with prospects and customers.
TRANSITION GUIDELINES
| New Product & Launch Date | Sunset Product(s) | Last Date to Receive Application for Sunset | Underwriting Notes | Last Date to “Place” Business on Sunset | Reject/Repaper Deadlines – Hard Close for Sunset |
| WHOLE LIFE | |||||
| Launch Date: Dec. 7, 2019Transamerica Lifetime and new conversion product solution (WL12) |
Sunset Date: Dec. 6, 2019
All conversion WL will follow same sunsetting rule, inclusive of Transamerica Direct Conversion Products.
|
All iGO e-App® submissions must be signed and submitted to Transamerica on or before Dec. 6, 2019, at 11:59 p.m. ET. Will not be able to digitally transmit as of Dec. 7, 2019, Paper application must be signed on or before Dec. 6, 2019, AND received by the home office by 4 p.m. ET/3 p.m. CT on Dec. 11, 2019. |
Express Protect Underwriting will be in place for new Transamerica Lifetime. For sunset – all UW requirements must be received by Dec. 20, 2019. |
All requirements (including delivery) must be satisfied (in good order) and received in the home office by 4 p.m. ET/3 p.m. CT on Dec. 27, 2019, for the policy to be paid and in force no later than Dec. 31, 2019. |
Any paper app signed on or after Dec. 7, 2019, and/or received on or after Dec. 12, 2019, will be rejected and a new application for the new Transamerica Lifetime product will be needed.*There is a potential for additional/ other underwriting requirements when submitting a new app for the new product. |