Transamerica Life Multi-life Term Coverage Key Benefits

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Transamerica Life’s Term Select Policies are available as 10-year, 20-year, and 30-year terms. Transamerica’s term select policies, allow multi-life coverage with the following key benefits:

1. Up to 17 coverage plans (any combination of base-coverage and riders) can be included under one policy, including the support of up to five joint lives per plan.

2. Combined banding, which means that Transamerica adds the sum of all non-joint insurance coverage’s on one life when setting the rate-band for their coverage. The higher the rate-band, the lower the cost of insurance per $1,000 that one pays.

 

3. Premium billing and policy administration are applied to the entire policy rather than per life insured. This results in the insured paying a lower premium.

 

4. There are no additional policy fees.

 

5. Additional coverage riders may be severed and maintained as standalone policies.

 

6. The policy owner can assign a separate beneficiary to each coverage under the policy.

 

For more details on Transamerica’s Term Select policies, you can contact us at 1-866-899-4849 or you can visit our website for an Instant Term Life Insurance Quote Page.

 

 

 

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