Hot of the presses from Transamerica

As we continue to work through the challenges of the current interest rate environment, it has become necessary for us to suspend sales of TransACE Survivor® 2010 while we work to develop a new survivor product. We anticipate delivering a new product in the 4th quarter of this year.

Effective, June 8, we are suspending the sale of TransACE Survivor 2010 (including the June 1, 2012 edition). We will, however, accept complete final, formal applications that are signed and received in the Cedar Rapids Administrative Office in good order by close of business at 4:30 p.m. CT on Friday, June 15.

This action does not affect the sales of single life TransACE® 2012.

If a trial application for the June 1 edition of TransACE Survivor is currently being reviewed, we must receive the final formal application by the date and time listed above.

TransACE Survivor policies must be issued no later than Friday, June 29, with a policy issue date no later than June 28. All delivery requirements must be received in good order in the Cedar Rapids Administrative Office no later than Friday, July 13, before close of business at 4:30 p.m. (CT), even if the paperwork accompanying the policy shows a later end of delivery date. If the end of delivery date is prior to July 13, then you must comply with that earlier date.

For those agencies that have policies issued with the pre-June 1 rates and issued by May 31 (with a policy date no later than May 28, 2012), all cases must be paid and all delivery requirements received in good order in our Administrative Office in Cedar Rapids no later than June 29 before close of business at 4:30 p.m. (CT), even if the paperwork accompanying the policy shows a later end of delivery date. If the end of delivery date is prior to June 29, then you must comply with that earlier date.

Additionally, for approved cases awaiting 1035 money, please note that the customer will need to pay the necessary premium (monthly, quarterly, annually) in order to keep the policy inforce in the event the 1035 money is not received by the deadline. We will apply the 1035 money when received. For single premium cases, the customer will need to do the same as above. Once the single premium is received (1035, or other source of single premium), we will refund premiums paid that were used to keep the policy inforce while waiting for single premium. There will be no extensions of delivery periods for these policies.