Transamerica’s Universal Life Insurance Policies: Two Advantages

Transamerica Life has two Universal Life policies: Wealth Advantage which, as the name implies, is geared more toward individuals who are focused on wealth accumulation; and Estate Advantage, which is designed for income protection and estate preservation.

The Wealth Advantage policy has an attractively priced annual renewable term cost of insurance structure; with this option, the life insurance charges are very low in the initial policy years, allowing the plan to maximize cash accumulation. The policy also has a performance bonus which is linked to the plan’s investment return, and commences in year two. On the downside, the cost of insurance increases dramatically in later policy years. Moreover, the plan has surrender penalties for the first 10 policy years.

The Estate Advantage policy has a very well-priced level cost of insurance option. This option has a higher initial cost, but the policy’s insurance charges remain level for life. The policy also has a choice of two investment structures: an accumulation bonus, which has higher management expense ratios on its investment accounts, but also has a bonus that starts in year two; or a low fee option which does not offer a bonus on its investment accounts, but has lower management expense ratios.

Both plans offer the following features:


• The premium tax is built into the cost of insurance
• Preferred rate on face amount of $250,000 and greater on policyholders 16 or older
• Multi-life or joint policies
• Children’s term rider
• Waiver of premium rider
• Guaranteed insurability rider

Call us: 1-866-899-4849

Name *
Phone *
Email
Your Date Of Birth
Amount of Coverage
Type
Comment
* Please Confirm Your Contact Details Are Correct

What Clients Say About LSM

life insurance testimonialsLSM Insurance team did a terrific job in servicing my family's insurance needs. Moreove,...1 of 84Falak PatelRead more

Leave a Reply

 

Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848


© LSM Insurance Services Ltd. 1998-2017




Translate »