Benefits Portfolio

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A quick overview of the life and health insurance products available from Transamerica.

A quick overview of the life and health insurance products available from Transamerica.

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  • 1. Transamerica Employee Benefits has risen to the challenge of today’sdemanding employee benefits marketplace. Our comprehensiveportfolio of voluntary and employer-paid group benefits, offeredthrough our underwriting companies, gives you the range andquality of life and health products you need to provide exceptionalproducts and services for employers, employees and their families. FOR MORE INFORMATION GO TO WWW.TRANSAMERICAEMPLOYEEBENEFITS.COM This is a summary of featured products. Limitations and exclusions apply. Refer to the policy, certificates and riders for complete information. For agent use only.
  • 2. LIFE PRODUCTS Universal Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Interest Sensitive Whole Life . . . . . . . . . . . . . . . . . . . . . . 2 Voluntary Group Term Life . . . . . . . . . . . . . . . . . . . . . . . . 3 Employer Paid-Basic Term Life . . . . . . . . . . . . . . . . . . . . 4PACKAGE PRODUCTS myPack . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 HealthPak . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6HEALTH PRODUCTS Critical Illness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Cancer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Accident . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Short-Term Disability . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Hospital Indemnity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Out-of-Pocket Medical Expense Indemnity . . . . . . . . . . 13 Dental . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Stop Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16SERVICES Legal Access Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Life Lock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 TransApp . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Guaranteed or conditional guaranteed issue underwriting available Individual or group coverage available Spouse or dependent coverage available Coverage is fully portable Wellness rider available
  • 3. LIFE HEALTH Universal Life Trans LegacySM A voluntary group universal life product. • Guaranteed issue available down to 5 employee applicants, • Current credited interest rate 5.25%, 4% guaranteed • Choice of employee-only or employee and dependent coverage • Guaranteed issue available on spouse, children and grandchildren • Fully portable Riders Available • Automatic Face Amount Increase Rider • Accidental Death and Dismemberment Rider • Waiver of Monthly Deductions due to Layoff Rider • Waiver of Monthly Deductions for Total Disability Rider • 10 or 20 year Level Term Benefit Insurance Riders • Accelerated Death Benefit for Critical Care Condition with 25, 50, 75 and 100% options • Accelerated Death Benefit for Long Term Care Rider with Extension of Benefits Rider (with paid-up life benefit) • Accelerated Death Benefit for Terminal Illness Rider • Waiver of Premium Rider • Child Level Term Insurance Rider Policy Form Series CPGLDU00 and CCGLDU00. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 1
  • 4. LIFE HEALTH Interest Sensitive Whole Life Trans$ureSM A voluntary group whole life product. • Guaranteed issue available down to 5 employee applicants • Guaranteed premiums • Guaranteed death benefits • Guaranteed cash values • Guaranteed issue available on spouse, children and grandchildren • Fully portable • Guaranteed paid-up policy available Riders Available • Accidental Death and Dismemberment Rider • Accelerated Death Benefit for Critical Care Condition with 25, 50, 75 and 100% options • Accelerated Death Benefit for Long Term Care Rider with Extension of Benefits Rider (with paid-up life benefit) • Accelerated Death Benefit for Terminal Illness Rider • Waiver of Premium due to Layoff Rider • Waiver of Premium Benefit Rider Policy Form Series CPWL0100 and CCWL0100. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.2
  • 5. LIFE HEALTH Voluntary Group Term Life Trans SelectSM 5, 10, 20 A voluntary group term life product that traditionally allows an employee to purchase higher face amounts of coverage at lower premium rates than universal or whole life insurance. • Guaranteed issue available down to 10 employee applicants, conditional guaranteed issue available down to 5 employee applicants, and simplified issue available down to 2 employee applicants • Guaranteed issue available on spouse and children • Coverage is portable or convertable (state specific) Riders included • Terminal Illness Accelerated Death Benefit Rider • Waiver of Premium for Lay off or Strike Optional Riders • Child Term Rider • Accelerated Death Benefit for Long Term Care • Accelerated Death Benefit for Long Term Care Extension of Benefits • Accelerated Death Benefit for Critical Care Condition of up to 25%, 50%, 75% and 100% of the life insurance Death Benefit amount • Accidental Death and Dismemberment Rider • Waiver of Premium Rider for Disability Policy form series CP100200. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 3
  • 6. LIFE HEALTH Employer-Paid Basic Group Term Life INSURANCE with Voluntary “Buy-Up” Option Basic Group Term Life • Guaranteed Issue up to $100,000 with 10 or more employee applicants • No employee applications necessary • Supplemental Life Buy-Up option, up to five times salary • Conversion Option • Fully portable Riders Included • Accelerated Death Benefit for Terminal Illness Rider • Waiver of Premium Benefit Rider Employer-Level Optional Riders • Accidental Death & Dismemberment Rider (AD&D) • Accelerated Death Benefit for Critical Illness Policy form series CPBTL100. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.4
  • 7. LIFE HEALTH Package Products myPackSM A group term life Insurance with accelerated death benefit rider for critical care condition with group off-the-job accident insurance and off-the-job accident disability benefit rider and sickness disability benefit rider. • TAC$-Advantage with Critical Illness Benefit and TransAccident with Accident and Sickness Disability Income Rider coverage is Guaranteed Issue • TAC$-Advantage with Critical Illness Benefit Buy-Up Option is Conditional Guaranteed Issue • Groups of 50 eligible or less, minimum participation is 5 employee applications for guaranteed issue • Required participation for groups of 50 to 499 employees is the greater of 10% or 10 applications (per group) • Spouse and dependent coverage is availablePolicy form series CP200500, CC200500, CR201000, CR201100, CP100200, CC100400 and CR101700. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 5
  • 8. LIFE HEALTH Package Products HealthPakSM The trend in major medical renewals has been to offer higher deductible co-insurance and co-pay options as well as increase employee premiums. This trend of increased employee out-of- pocket costs and increased premiums does nothing to improve benefits and makes it more difficult for employees to afford a claim. The HealthPak solution allows companies to lower overall group medical premiums and help their employees to lessen their out-of- pocket claims costs. • Available to groups with a major medical plan • Guaranteed issue with no pre-ex down to 2 employee applicants with 50% participation of those covered by the employer’s major medical plan • Include critical illness, cancer and accident benefits • Place TransConnect to cover the out of pocket costs of deductibles, co-insurance and co-payments for Inpatient Hospital Benefits, Outpatient Benefits (50% of Inpatient Benefit), emergency room for accidents, radiological diagnostic testing and Accident-Only Ambulance Benefit • TransConnect does not cover: Inpatient Anything related to mental health, drug or alcohol treatments or hospitalization. Outpatient Lab or X-Rays in a doctor’s office, emergency room for illness, sleep apnea or studies, physical therapy, chemo/radiation therapy, observation or medical equipment. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.6
  • 9. LIFE HEALTH Critical Illness CriticalAssistanceSM Advance Critical illness insurance pays a lump sum benefit upon a positive diagnosis of a first ever occurrence of a covered critical illness. • Guaranteed issue available down to 5 employee applications • No pre-existing condition limitation • No waiting period • Recurrence benefit • Competitive premiums • Composite rates available for employer-paid plans • Fully portable Employers may offer up to two plan designs. Optional Benefit Riders are employer-elected. Categories • 1: Covers heart attack, stroke, heart transplant surgery, coronary bypass surgery, and angioplasty/stent. • 2: Covers major organ transplants (excluding heart), end-stage renal failure, paralysis not due to stroke (all four limbs), and burns. • 3: Covers invasive cancer, carcinoma in situ, prostate cancer with TNM classification of T1, skin cancer and cancer screening benefit. • 4: Covers an initial positive diagnosis of HIV that is contracted during the course of employment (available to the health care industry only). Optional Riders • Recurrent Critical Illness Rider • Wellness Testing • Carcinoma In Situ • Intensive Care Rider • Skin Cancer • Burns, Coma, Paralysis, Alzheimer’s Disease Policy form series CPCI0400. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 7
  • 10. LIFE HEALTH Cancer CancerSelect® Plus Provide benefits to help defer the direct medical and indirect non-medical costs of cancer. • Guaranteed Issue Availability Down to 5 employee applications • No Waiting Period • Competitive Premiums • Fully portable Employers may offer up to two plan designs. Base Coverage A unit value for each of the five core modules is selected by an employer. • Hospital Benefits • Surgery Benefits • Radiation and Chemotherapy Benefits • Wellness and Miscellaneous Benefits • Cancer Maintenance Therapy Benefits Optional Riders* • First Occurrence Rider • Specified Disease Rider • Intensive Care Rider Policy form series CPCAN200. * Not all riders available in all states Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.8
  • 11. LIFE HEALTH Accident AccidentAdvanceSM A group accident insurance policy that provides benefits for necessary treatment due to accident. • Guaranteed issue on all case sizes (except sickness disability riders) • Coverage available for employee only or employee and dependents. • Fully portable • Available to qualified associations Base Coverage • Accident Emergency Treatment • Follow-Up Visit and Physical Therapy • Initial Accident Hospitalization Optional Riders • Accidental Death and Dismemberment Rider • Accident Only Disability Income Rider • Accident Hospital and ICU Income Rider • Sickness Only Disability Income Rider • Expanded Benefits Rider • Spouse Off-The-Job Accident Only Disability Income Rider • Wellness Benefit Rider Policy form series CPACC100 or CCACC100. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 9
  • 12. LIFE HEALTH Disability Income TransDI® Plus A voluntary group short term disability product. • Guaranteed issue available down to 5 employee applications • 3, 6, 12 and 24 month benefit periods • 0/7, 7/7, 0/14, 14/14, 30/30, 60/60, 90/90 and 180/180 elimination periods Riders and Optional Benefits Available • Survivor Benefit Rider • Accidental Death and Dismemberment Rider • Hospital Indemnity Rider • Partial Disability Benefit Policy form series CPDI0100. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.10
  • 13. LIFE HEALTH Hospital Indemnity TransChoice® Plus Provides basic health insurance benefits to employees, full- or part-time, and those not eligible for major medical and temporary coverage for new employees and association members. • Guarantee Issue • 5 employee applications • No participation requirement Base Coverage • Daily In-Hospital Indemnity Benefit • Group Term Life Insurance with Accidental Death & Dismemberment Optional Benefits Available • Outpatient Physician Office Visit Indemnity Benefit • Outpatient Diagnostic X-Ray and Laboratory Indemnity Benefit • Surgical and Anesthesia Indemnity Benefit • In-Hospital and Surgical Additional Indemnity Benefit • Off-the-Job Accidental Injury Benefit • Prescription Drug Indemnity Benefit • Wellness Indemnity Benefit • Critical Illness Indemnity and Subsequent Critical Illness Indemnity Benefits • Emergency Room Sickness Benefit • Intensive Care Indemnity Rider • Daily Inpatient Drug and Alcohol Indemnity Benefit For agent use only. 11
  • 14. LIFE HEALTH • Daily Inpatient Mental and Nervous Indemnity Benefit • Ambulance Indemnity Benefit • Daily Skilled Nursing Benefit Rider Non-Insurance Discount Programs • Employee Discount Card (offered by New Benefits, Ltd.) • PPO Network (offered by TPA) • Debit card for Prescription Drug Indemnity Benefit Additional Coverages that may be sold in conjunction with TransChoice Plus • Short-Term Disability Income Insurance — $400, $600, $800 monthly benefit, not to exceed 60% of base salary, for a 3 or 6 month benefit period; 7/7 or 14/14 elimination period • Dental Policy form series CPCH0200. Administration provided by Key Benefit Administrators, Fort Mill, S.C. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.12
  • 15. LIFE HEALTH Out-of-Pocket Medical Expense Indemnity TransConnect® Designed to pay an indemnity benefit for employee out-of-pocket expenses of deductibles, co-insurance and co-payments from serious illnesses not paid by an insured group’s comprehensive medical plan. • Guaranteed issue with no pre-exisiting condition limitation available down to 2 employee applicants Benefits include: • In-Hospital Benefit: $500 - $10,000 • Outpatient Hospital Benefit: $250 - $5,000 • Ambulance: $350 • Routine Well Baby Care covered For benefits to be payable, an insured person must be covered by a basic, major medical or comprehensive plan at the time charges are incurred and the other medical plan must provide benefits for the covered charges. Available to all eligible applicants, regardless of age. Applicants will enjoy Guaranteed Issue underwriting with no pre-existing conditions on qualified groups. Policy form series CP201200. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. For agent use only. 13
  • 16. LIFE HEALTH Dental TransSmile® A vouluntary group dental product. • Flexibility in co-insurance, annual maximum allowance, deductibles and waiting periods • Dependent coverage available • Maximum Roll Forward Benefit • In- and Out-of-Network Options • Optional Orthodontics Benefits Rider Available • Diagnostic and Preventative Benefits • Basic Restorative Benefits • Major Restorative Benefits Employers may offer up to two plan design with the following options: • Co-insurance 0-100% of available maximum allowance (5% increments) • Available Maximum Allowance $500, $750, $1,000, $1,250, $1,500, $2,000, $2,500 • Waiting Period 0, 3, 6, 12, 18 or 24 months • Annual Deductible $0, $25, $50, $75, $100, $150, $200 or choose a $100 lifetime deductible • Number of Deductibles No Limit, Maximum 2 per family or Maximum 3 per family Policy form series CPDEN100 and CCDEN100. Administration provided by Omega Administrators, Inc., Sherwood, Ark. Underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa.14
  • 17. LIFE HEALTH Vision SightSelect® A vouluntary group vision care product. • Annual eye exam • Frame and lenses, or contact lenses—including four boxes of disposables—if required • Dual-choice frame benefit allows participants to choose a frame at the provider’s location, or apply the frame allowance to any frame on the market • Savings on PRK and LASIK laser eye surgery Employers can choose between two plans offering different co- payments and frequencies of service Spectera’s diverse network offers both private practice as well as leading retail chain providers with evening and weekend hours. Policy form series UHIC VisPol (04/02). Spectera, Inc. administers vision benefits underwritten by the following entities: United HealthCare Insurance Company, United HealthCare Insurance Company of New York and Unimerica Insurance Company, Inc. For agent use only. 15
  • 18. LIFE HEALTH STOP LOSS Stop Loss An insurance product designed to help protect employers with self-funded healthplans that could face higher than expected risk from group medical cost. STOP LOss Coverage • Two Types of Coverage (for both medical and perscription drug costs) • Specific Stop Loss • Aggregate Stop Loss • Minimum group size of 50 lives or more • Reliable, consistent and flexible underwriting • Direct contact with underwriting partners Underwritten by Transamerica Life Insurance Company Western Reserve Life Insurance Co. & Monumental Life Insurance Company16
  • 19. LIFE HEALTH Legal Family Legal Protection Plan This is a voluntary legal expense program it is not an insurance policy. Members Receive: • Free consultations: unlimited 1/2 hour consultations with plan attorneys each year via phone, office or online • Document reviews Up to three simple documents (six pages or less) reviewed by a plan attorney each plan year • Wills A Simple Will or Living Will prepared or updated by a Plan Attorney each plan year • Dispute resolution Dispute resolution letters or phone calls made by a plan attorney for up to three matters per year • Flat fee services for bankruptcy, divorce, child/spousal support, traffic tickets and many others • Special plan discount of 25% on plan attorneys’ hourly rates • Discounted contingency fees 24/7 Access to Web Resources on Legal Matters such as: • Complete Online Member Legal Research • Lawsuit/Litigation Procedural Guide • Property Damage Disputes “Better Benefits” Package (included at no cost) • Identity Theft Protection • Financial Counseling and Planning Benefits • $14 Per Month Covers the Entire Family Marketed by Transamerica Employee Benefits For agent use only. 17
  • 20. LIFE HEALTH LIFELOCK LifeLock An identity Theft Protection Program with 3 levels of coverage. LifeLock Identify Theft Protection • Identity Threat Detection and Alerts • Lost Wallet Protection • Address Change Verification • Advanced Internet Monitoring • Reduced Pre-Approved Credit Offers • $1 Million Total Service Guarantee* • 24/7/365 Member Service– Live & Domestic • Child Identity Theft Protection LifeLock Command Center - adds additional services • Public Database Monitoring • Payday Loan Records • Public Records • Court and Criminal Records • Alias Records • Sex Offender Registries • Data Breach Detection Lifelock ultimate- adds additional services • Checking and Savings Account Alerts • Credit Alerts • Annual Credit Reports and Monthly Score • 24/7 Priority status Marketed by Transamerica Employee Benefits18
  • 21. LIFE HEALTH Electronic Enrollment Technology TransApp Our web-based enrollment system’s user-friendly functionality saves time so you can focus on what you do best! TransApp advantages include: • Jet policy issue and delivery • Payroll deductions and initial billing statement consistency • Simplified enrollment management with broker-, enroller- and employer-level reporting • Accurate enrollment data virtually eliminates post enrollment “clean up” • This system is available to you at no cost! • Enrollments can be taken both via a remote laptop or self service and/or call center platforms. Additional Enrollment Systems Other electronic enrollment system, generating both paper and electronic applications, are accepted if approved for use. Contact your agent for more information. Marketed by Transamerica Employee Benefits For agent use only. 19
  • 22. Financial RatingsOur underwriting company Transamerica Life Insurance Company, has receivedconsistently high ratings from the primary rating agencies and is a members ofthe AEGON Group, one the world’s leading insurance organizations.Transamerica Life Insurance Company’s commitment to the highest standards ofconduct is fully demonstrated by qualification for membership in the InsuranceMarketplace Standards Association, which promotes ethical market conduct forcompanies offering life insurance. A.M. Best A+ (Superior) As of June 2010, the second highest out of 16 ratings. This rating is based on A.M. Best’s measurement of the insurance company’s current financial strength, operating performance, and the ability to meet policyholder obligations. Fitch AA- (Very Strong) As of June 2010, the third highest of 24 ratings. This rating is based on Fitch’s view of the insurance company’s very strong capacity to meet policyholder and contract obligations. “+” is appended to a rating to indicate the relative position of a credit within the rating category. Moody’s A1 (Good) As of June 2010. The “Aa3” rating of Moody’s is the fifth highest of 21 ratings. Ratings are based on the opinions of the ability of an insurance company to repay punctually senior policyholder claims and obligations. The numeric modifier refers to the ranking within the group – one being the highest and three being the lowest. Standard & Poor’s AA- (Very Strong) As of June 2010, the fourth highest of 21 ratings. Standard & Poor’s rating is based on the insurer having “very strong” financial security characteristics.CRC01A-0612 For agent use only.