About The Transamerica Occidental Life: In their own words
Transamerica Insurance & Investment Group offers an array of innovative financial services and products designed to help individuals, families, and businesses build, protect, and preserve their hard-earned assets.
The companies that offer these products are members of the AEGON Insurance Group, an international organization headquartered in The Hague, The Netherlands.
The AEGON Insurance Group is one of the top 10 life insurance and financial services organizations in the world.
The following figures are for Transamerica Occidental Life Insurance Company (TOLIC) and Transamerica Life Insurance and Annuity Company (TALIAC) as of December 31,2002.
| |
TOLIC |
TALIAC |
| Life Insurance in Force |
$495.5 Billion |
$0.1 Billion |
| Total Assets |
$24.1 Billion |
$23.2 Billion |
| Total Liabilities |
$21.6 Billion |
$22.1 Billion |
| Statutory Surplus |
$2.5 Billion |
$1.1 Billion |
Note: These figures are reported on a statutory basis, as prescribed by the National Association of Insurance Commissioners. The Asset Valuation Reserve is excluded from Total Liabilities and is included in Statutory Surplus.
Transamerica Occidental Life Insurance Company:
Standard & Poor´s : AA
Moody´s : Aa3
Fitch(formerly Duff & Phelps): AA+
AM Best as of date: A+
WHAT THE RATINGS MEAN:
Standard & Poor´s: Financial Strength
Moody´s: Financial Strength
Fitch (formerly Duff & Phelps): Claims Paying Ability
AM Best as of date: Statutory Financial Condition
HERE´S WHAT INDEPENDENT RATINGS SERVICES SAY:
AM Best as of date: A+ (Superior) Assigned to companies which have, on the balance, superior financial strength, operating performance, and market profile when compared to the standards established by the AM Best as of date. The A+ (Superior) rating reflects Best´s opinion of the company´s very strong ability to meet its ongoing obligations. This is the second highest out of 16 ratings categories.
Standard & Poor´s: AA (Strong) An insurer rated ´AA´ has STRONG financial security characteristics, differing only slightly from those rated higher. This is the second highest of 18 ratings.
Moody´s Investor Services: Aa3 (Excellent) Insurance companies rated "AA" offer excellent financial security. The "AAA" and "AA" group constitute high grade companies, with the "AA" companies rated lower because long-term risk appears somewhat larger. This is the fourth highest out of 19 ratings categories.
Fitch (Formerly Duff & Phelps): AA+ (Very High) Very High claims-paying ability. Protection factors are strong. Risk is modest but may vary slightly over time due to economic and/or underwriting conditions. This is the second highest out of 17 possible ratings categories.
Source: Transamerica
The ratings are determined by independent ratings services based on information provided by the life insurance company. Each ratings service has its own criteria used in determining the rating they assign to an insurance company. Ratings are updated annually. Ratings are not a guarantee of an insurance company´s present or future ability to meet its contractual obligations. Company information, ratings, financial data, and descriptions of policies and benefits are provided by the insurance company and this information may change at any time.
Insurance policy information:
Level premium term insurance: Plan name: Trendsetter® Super Series
Level premium periods and policy form numbers:
| Policy Name |
Level Premium Years |
Guaranteed Years |
Policy Form# |
| Trensetter Super 10 |
10 |
10 |
1-306-11-199 |
| Trensetter Super 15 |
15 |
15 |
1-305-11-199 |
| Trensetter Super 20 |
20 |
20 |
1-304-11-199 |
Premiums increase annually after the initial level premium period.
Riders and Options:
Accelerated Death Benefit: Included with all Trendsetter Super policies. This benefit provides up to 75% of the current death benefit to a maximum of $250,000 per life, with a minimum payment of $10,000. Payment of this benefit occurs at the request of the policyowner, when the insured is diagnosed by a physician , after the date of issue, as having only 12 or fewer months to live. (Availability of this option is subject-to state approval).
Waiver of Premium: In the event of total disability before the insured´s age 60, and after a waiting period of 6 months, the premiums will be waived retroactively from the beginning of the disability. Requires and additional premium.
Conversion: Available until insured is age 70 (age 75 for premier class).
Modal Premium (multiply the annual premium by these factors): Semi-Annual: .520; Quarterly: .265; PAC Monthly: .0875
Trendsetter Super 10 (#1-306 11-99), Super 15 (#1-305 11-99), and Super 20 (#1-304 11-99) are term life insurance policies issued by Transamerica Occidental Life Insurance Company, Los Angeles, CA. Premiums increase annually starting in year 11 for Super 10, in year 16 for Super 15, and in year 21, for Super 20. Policy form and number may vary and coverage may not be available in all jurisdictions. Insurance eligibility and premiums subject-to underwriting.
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