Transamerica Life Insurance Company
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TABLE OF CONTENTS
TLC A IPG 1216
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
INDIVIDUAL PRODUCER GUIDE
Transamerica Long Term Care
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance?
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing a Payment Option
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
is guide is designed for electronic use, with active links to our most current product and sales materials and information.
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Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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THE TRANSAMERICA LONG TERM CARE ADVANTAGE
Long Term Care insurance (LTCi) is only as good as the company behind it. With a strong foundation, a solid structure,
a secure framework and stellar positioning, Transamerica Long Term Care (Transamerica LTC) has proven to be an
LTCi leader.
A FOUNDATION of Commitment
25 YEARS OF EXPERIENCE. 2012 marked a quarter century of leadership in the LTCi industry
for Transamerica Long Term Care. roughout these 25 years, the foundation of our dedication has
remained the same: our commitment to our policy holders to provide the benets they need when they
need them the most.
A Solid Support STRUCTURE of Experience and Expertise
Almost half a million POLICY HOLDERS. Our devotion to our clients has built a solid structure of
experience and expertise that comes from servicing over 460,000 policyholders in 25 years.
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A Secure Financial FRAMEWORK
A+ A.M. BEST RATING & COMDEX 92.
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Transamerica Long Term Care insurance is underwritten by
Transamerica Life Insurance Company, ranked among the highest in the industry in nancial strength
and operating performance as recognized by independent rating serves like A.M. Best and Comdex.
Stellar POSITIONING in the LTCi industry
e POWER OF THE TOWER. Transamerica has established itself as a company that both you and your
clients can trust. Transamerica has a solid reputation among consumers and agents alike for providing
superior customer service and support.
e strength behind the Transamerica brand makes it easy for you to establish a sense of condence and security with
your clients when talking about long term care. With the competitive advantage of a strong and highly regarded brand
we make it easy for you to talk about long term care with your clients.
CLICK HERE TO VIEW THE
Transamerica LTCi Advantage Video
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Why Long Term Care insurance?
No one wants to think about or plan for a future where they are no longer able to care for themselves.
Engaging your clients on the benets of Long Term Care insurance (LTCi) exclusively from that perspective
can understandably create resistance.
In many ways, a conversation about LTCi is really not that dierent from a conversation about life insurance;
the emphasis should be about planning for the needs of the family as caregiver for the policy holder. What
LTCi can mean for your clients is not whether they will be able to stay out of a nursing home but how an
unexpected need for long term care could aect the family. Will their families have to bear the nancial and
logistical issues of caring for them alone?
Consider this:
• It is quite common for adult children to become the primary caregivers for the parents. Of the 48.9 million
caregivers in the U.S., most are family members providing more than 20 hours of care each week.
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• e value of caregiving services that family members provide for “free” is estimated to be $450
billion a year.
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• Increases in caregiving expenses have caused 47% of working caregivers to use up ALL or MOST
of their savings.
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• Medical insurance and Medicare supplement plans will generally not cover long term care.
• In a few states children could become legally obligated to pay for their parents’ long term care bills.
An LTCi policy can help give your clients the security and added peace of mind that come from minimizing
the negative impacts that an unexpected long term care event could have on themselves and their family.
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American Association for Long-Term Care Insurance, 2011 LTCi Sourcebook.
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Valuing the Invaluable: 2011 Update, The Economic Value of Family Caregiving. AARP Public Policy Institute.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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What Sets Our Products Apart
Transamerica Long Term Care insurance polices provide some of the best features and benets in LTCi available
today with the exibility to meet a wide range of client needs and budgets.
0-Day Elimination (No additional premium required)
0-Day Elimination means benets are available from the rst day that the policy goes into eect. is applies to
Home Health Care and Cash Benet. Other benets are subject to the elected elimination period for the policy.
0-Day Elimination can help provide an immediate sense of security and potentially reduce out of pocket expenses.
Cash Benet (No additional premium required)
e insured can choose to take a monthly lump sum equal to 1/3 of the monthly benet in lieu of all other
benets. e Cash Benet is paid directly to the insured and may be used in any way he or she sees t with no
receipts required. is is ideal for those receiving home care from a family member.
Return of Premium to Age 67 (No additional premium required)
If the insured dies before the age of 67, a refund equal to the sum of all premiums paid, less the amount of
any claims paid to the insured, will be returned to the insured’s beneciary. is feature can make LTCi more
attractive to younger clients who may feel they are too young to purchase.
Accident Benet (No additional premium required)
When your client needs long term care due to an unintentional physical injury occurring before age 67 we will
cover up to 2 times the Maximum Daily Benet for eligible expenses while only subtracting no more than the
Maximum Daily Benet from the pool of money.
Not available with Cash Benet, Global Coverage if available, Remain at Home and Extension of LTC Facility
Benets. Subject to Maximum Daily Benet, Policy Maximum Amount, and Policy Elimination Period.
Qualifying for benets is required.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Step-Rated Benet Increase Option Rider
With this ination protection option, both the benet and the premium will automatically increase
each year by either 3% or 5% as selected by the insured when purchasing the policy. is annual
increase is not based on attained age. is option allows clients to grow their pool of money to help
oset ination, while oering the exibility to stop and start these automatic increases. ere is no
limit to the number of times the insured can stop and restart the increases under this Rider. However,
if they choose not to increase benets for three consecutive years, the option to restart the increases
under this Rider will end. If Step-Rated is selected aer policy issue using the Deferred Benet
Increase Option, the additional cost of the rider will be added to the premium based on the cost of
the rider at issue age, with increases in benets beginning the eective date of the rider.
Tailored Benet Increase Option Rider
With this ination protection option, available in TransCare® III, benet amounts change as the
insured enters dierent stages of life. Prior to age 61, benet amounts will increase on the rider’s
anniversary each year based on 5% Compound Benet Increase Option. On the rider’s anniversary
each year between the ages 61-76, benet amounts will increase based on 3% Compound Benet
Increase Option. ere will be no more benet increases aer the 76th birthday.
Although Benet Increase Options may be selected aer policy issue using the Deferred
Benet Increase Option, DRA Partnership requires a Benet Increase Option must be
selected at policy issue and be maintained according to the rules of the state.
Care Coordination (No additional rider required)
e goal of Care Coordination is to help your client take a more complete look at their care needs in
conjunction with any available resources and help obtain a full range of appropriate services. A Care
Coordinator is available to work with your client, family members, representatives they designate, and
their Physician to develop a Plan of Care. Additionally, the Care Coordinator can assist in securing
the recommended services described in the Plan of Care.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Flexible Benefit Amounts
Coverage needs will vary among each person you contact. Our policies oer the exibility you need to help
design the best policy for each client.
We suggest that you ask questions to assess your client’s needs and investigate the costs of care in your local
metropolitan area (www.longtermcare.gov) in order to better meet each individual’s requirements, or go to
www.taltc.com > Agent Resources > Cost of LTC for an interactive map.
You can help your client determine how much their policy pays, and how soon, by selecting amounts for
each of the following:
Maximum Daily Benet (MDB) – the amount we will reimburse for each day of qualied care your client
receives.
Pool of Money (POM, or Policy Maximum Amount) – the total amount available to cover the cost of long
term care services.
Elimination Period (EP) – the number of days that your client is responsible for paying the cost of
covered long term care services before the policy begins to pay benets.
For clients who require aordability, you may oer a policy that keeps the MDB and POM low, and the EP
high. e added security of some coverage is better than none. For clients who have many assets to help
protect, however, you may oer a policy with a high MDB and POM, and a lower EP.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Policy Savings
Discounts
Discounts are provided for couples who maintain a shared residence for at least 2 years.
Couples
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Discount amounts vary by policy type and have policy-specic requirements. For TransCare® II,
spouse/partner policies must have like-benets. For TransCare® III, spouse/couple policies can dier.
When spouse/partners apply for either the Shared Care or Joint Waiver of Premium Rider, the benets of
the policy will need to match in order to receive the couples discount.
A reduced discount is available for a spouse/partner when only one spouse applies for coverage or
whenever both spouses apply and one is declined for coverage.
A preferred health discount may be oered in addition to other discounts available and will be determined
at the time of underwriting.
Some discounts may be oered simultaneously to help your clients save more.
Payment Frequency
Your client has the choice of how oen to pay premiums: annually, twice a year, quarterly, or monthly.
Premiums will vary based upon the mode or frequency of the premium payment. e more oen
premiums are paid the higher the total premium amount may be per year. All premium selections are
subject to underwriting approval.
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Under this Policy, the term “spouse/partner” and “couple” may include married persons, domestic partners and/or civil union partners. Re-
quirements vary by state. In ID, LA & VA, discount available for legal spouses only. In MT,the term is “companion” which is dened as a legal
spouse or an adult not related by blood to the Policyholder who: (1) resides with the Policyholder on a continuous basis and shares the same
address, living expenses, rent and/or mortgage; and (2) has exchanged powers of attorney, or has designated his or her companion as the
primary beneciary under his or her will and/or testamentary trust. Consult your insurance agent/producer for details.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
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Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Suitability Guidelines
People buy Long Term Care insurance for many reasons. Some clients don’t want to use their own assets to
pay for long term care. Others don’t want their family to have to pay for care or don’t want to go on Medicaid.
But Long Term Care insurance may be expensive, and may not be right for everyone.
By state law the insurance company must ask each applicant for his income and asset levels. is information
should be used by the producer and the applicant to help determine if the contemplated policy will be
suitable for the client. You should review with the client the premium that will be charged for the coverage
selected.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Suitability Guidelines - continued
As a general rule, premiums for an LTC policy should not exceed 7% of the client’s income. is
recommendation is found in the National Association of Insurance Commissioner’s (NAIC) Long Term
Care Model regulation. e Personal Worksheet follows the NAIC guidelines on assets, suggesting that an
applicant have a minimum of $30,000 in assets (excluding a house) before considering the purchase of a
Long Term Care insurance policy.
When we receive the completed application we will verify that the Personal Worksheet suitability form is
completed and signed by the applicant or that the applicant has checked the opt-out box and signed the
form. We may also ask the Insured to verify his responses during the underwriting telephone interview if
one is completed.
If the income and/or assets are less than $30,000 we are required by law to send a suitability letter to the
applicant conrming they would still like to purchase coverage. In the state of Texas we are required to send
a suitability letter to the applicant even if they elect not to disclose their nancial information. e suitability
letter in both instances must be returned before we can issue the policy.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Underwriting Guidelines
If you need assistance with prequalifying an applicant, please contact us via email at LTC_Prequalify@
transamerica.com. When the Underwriting Department responds to you, print a copy of the response and
attach it to your application. Every eort will be made to place the applicant in the best rating classication,
regardless of what has been applied for. When the underwriting evidence indicates that a policy cannot be
issued as applied for, rather than simply decline, we will give consideration to providing an alternate oer. In
addition to Preferred and Standard premium rates, we can oer coverage on a Class 1 or Class 2 basis with
increases in premium. Please refer to the Underwriting Field Guide, available at the Agent Resource Center
(www.taltc.com) for complete details.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Submitting Business
At Time of Application
NOTE: State variations may require the use of additional or dierent forms.
e following items MUST be delivered to the applicant at the time of application:
• e Disclosure Package that includes the following:
o Outline of Coverage (Disclosure Form in some states)
o “ings You Should Know Before You Buy Long Term Care Insurance”
o Potential Rate Increase Disclosure Form, if applicable
o Authorization for the Release of Health Information
o MIB Authorization for Release of Health Information
o Privacy Notice
o Disclosure Notice – Medical Information Bureau and Fair Credit Reporting
o If replacing existing coverage, Replacement Notice form should be used
o State specic forms or guides if applicable
o Conditional Receipt
• e NAIC Shopper’s Guide to Long Term Care Insurance
• If eligible for Medicare; e Guide to Health Insurance for People with Medicare
Note: e coverage comparison section of the NAIC Shopper’s Guide must be completed anytime a
comparison of Long Term Care coverage is done.
e following items MUST be submitted with the application:
• A completed Personal Worksheet
• Signed Authorization for the Release of Health Information
• Signed MIB Authorization for the Release of Health Information
• Signed Replacement Notice, if applicant is replacing existing coverage
• Note that the Rejection Of Compound Ination must be checked and signed by every applicant
choosing anything other than 5% CBIO
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Resident States
In most cases, the application should match the applicant’s state of residence. In certain situations, the
application must be signed in either the state in which the application was completed or the applicant’s state
of residence, but this is considered an exception. Special delivery receipts may be required. Agent must be
properly appointed.
e Interstate Compact (IC) States are: AL, AK, CO, GA, ID, IL, IA, KS, KY, LA, ME, MD, MA, MI, MN,
MS, MO, NE, NH, NM, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WV, WI, WY.
Please use the following Applicant Situations below to determine whether there is an exception to the rules.
APPLICANT SITUATIONS:
(1) If the two states in question, the state of residence of the applicant and the state where the application
is being taken, are both states covered by the IC, an IC policy can be issued for that person and no special
delivery receipt is required.
(2) If the applicant is a resident of an IC state, but the application is being taken in a non-IC state, the
producer should refer to the Resident State Guidelines and Chart found on the Agent Resource Center
(ARC). Resident State Guidelines And if a policy can be issued outside the resident state (see the chart
for specic states), a special delivery receipt will be required.
(3) If the applicant is a resident of a nonIC state, then there are three states an agent should be aware of:
CT, NJ and NY. CT does not allow anything other than a CT policy to be issued to their residents. e
chart on the ARC outlines the requirements for an agent in order to write an out of state policy on a NJ
or NY resident. e special delivery receipt requirements will also apply.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Submitting Premium
For all non list billed applicants, two months premium must be submitted with the application (California
requires only one (1) month).
Payment options are check, EFT, or credit card (MasterCard, Visa, Amex and Discover). Credit card can be
used to pay initial premium only, up to one (1) full annual modal premium.
Credit Card payment is not available in Alaska, California, Maryland, Nevada, North Carolina, New Jersey,
or New York.
Electronic Funds Transfer is recommended for initial premium payment to ensure that you will not have to
go back to the client for additional funds. We will dra the premium from their account based upon what
is ultimately due. Dierences could occur due to a Class Rating in underwriting or a Cash with Application
(CWA) dierence.
If EFT is selected, when the policy is approved a letter will accompany the policy notifying the applicant that
15 days from the date of this letter we will be draing your bank account for the amount below. We cannot
accept cashier’s checks, certied checks from a bank, or money orders.
Monthly direct billing is not available.
Balance of Premium
e balance of any premium due must be received in the Home Oce before the coverage will be placed in
force.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Eective Date
e Eective Date on individual policies is the Signature Date on the completed application unless the following
exceptions occur:
• If the client chooses to Save Age:
o Application should be dated the actual date signed
o Application must be received in the Home Oce no later than 30 days following the Signature Date
o Application must be signed within 30 days of birthday
o A notation to “Save Age” must be included in the “Special Instructions” section on the signature page
o e Eective date will be the day before the birthday. Future premiums will be due on that date.
• If a future Eective Date less than 90 days out is requested:
o A particular date does not have to be listed; the request can be “Upon Approval”
o Note: Coverage provided by Conditional Insurance, if any, will not begin until the future Eective Date
o Cannot request a future eective date and also request to Save Age
Delivery Requirements
Completed delivery requirements must be returned to the Home Oce within 25 days from the date sent.
We accept faxes to 800-724-0331 for all requirements except checks. We accept checking account debits
(electronic check) via the phone for your clients’ convenience.
Delivery Receipt
In states that require a delivery receipt (LA, PA, SD, WV) the delivery receipt must be signed and received in
the Home Oce within 25 days. If the delivery receipt has not been received by the 25th day, a new policy will
be sent directly to the policyholder. is will ensure compliance with requirements under the IRS code which
mandates that tax-qualied long term care policies be delivered to the policyholder within 30 days of approval.
A delivery receipt is also required when the policyholder’s resident state is dierent than the state where the
application was signed.
Note that the agent may instruct the Home Oce to send the policy directly to the policyholder.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Premium Payments
Payment by credit card is accepted only for the initial premium payment up to the full annual amount. For
premium payments aer the initial premium payment, bank dra/electronic fund transfer (EFT) or check
are the only forms of payment accepted. Money orders, cashier’s checks or certied checks from the bank
are not accepted.
Note that we will accept EFT for all modes of payment. If client pays monthly, EFT is the only payment
accepted.
For monthly EFT payments:
• e initial 2 month deposit will be debited upon receipt of the application at the home oce.
• Policyholder will be notied that the next dra for the 3rd month’s premium and/or balance of
CWA (cash with app) will occur 15 days aer the policy is mailed.
• e next dra for the 4th month’s premium will occur when payment is due, so there may be a
longer period of time between the 2nd and 3rd dras, depending on how long the underwriting
process takes. Subsequent dras will occur as scheduled.
Signed Endorsement
When required, a signed endorsement must be received in the Home Oce before coverage will be placed
in force. Endorsements are required for changes to benets, changes in premium, and corrections to an
incomplete or incorrect application.
Replacements
We strongly recommend that you compare the proposed policy with the current policy, and document
the reasons for recommending a replacement. We suggest that you retain your own copy of this written
comparison and recommendation. You and the applicant will then need to sign the replacement form and
return it along with the application.
If the Long Term Care insurance policy is replacing a policy underwritten by another Transamerica or
AEGON Insurance Group Company we will ask for the producer’s brief, written explanation as to why this
replacement is in the policyholder’s best interest.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Any LTC policy or rider replacing an existing LTC policy or rider pays the 2nd year commission rate in the
1st year. Exceptions may apply (subject to state imposed limitations) if the policy or rider being replaced is
not a Transamerica Company or other AEGON company policy or rider, AND the replacement policy is
clearly and substantially better than the policy being replaced. Please consult your commission schedule for
details.
Reinstatements
Full Underwriting – regardless of the type of policy, benets or underwriting standards used when the
original application was made.
Any policy, regardless of benets or original underwriting, that has lapsed for non-payment of premium
may be reinstated within 90 days of the date of lapse, subject to Full Underwriting. A full application
must be submitted, without a premium deposit, and will be subject to Full Underwriting. In some states,
reinstatement is available for up to 6 months when the lapse was due to cognitive impairment.
Long Term Care Policies may not be reinstated aer 90 days. Aer 90 days, applicants must reapply for new
coverage at current age following the Full Underwriting procedures, with a full application and a premium
deposit.
Please contact the Customer Service Department for additional information regarding the reinstatement
rules and procedures.
Statement of Good Health
is form is used when the Underwriter requires verication that an applicant’s health status has not changed
since the date the application was signed. It might be used if the new business/underwriting process took
longer than expected due to missing information or forms. If this form is requested, it must be signed and
returned to the Home Oce before coverage will be eective.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Tools and Materials
Innovative Tools
• e Agent Resource Center (www.taltc.com) is your one-stop support and work portal for all your
marketing and sales needs, including training presentations, marketing supplies and forms, quotes, and
application status.
• e TransQuote® Illustration System allows you to generate customized proposals for clients via an
easy to use interface. It is available to agents who are licensed and appointed with Transamerica Long
Term Care and can be run directly from the Agent Resource Center (www.taltc.com) or downloaded to
your computer for convenient o-line quoting.
• Everything you need to quote Transamerica Long Term Care insurance is now in the palm of your
hand. e TransQuote® Mobile application allows you to create on-the-go quotes on multiple portable
devices: Apple iPhone, iPad, Apple iTouch and Android. e app is a free download.
• TransBuilder is an intuitive yet powerful tool found on the Agent Resource Center that allows you to
easily and seamlessly embed your name and agency logo in Transamerica’s best marketing materials.
One of the great features of TransBuilder is the ability to send personalized co-branded materials as
email attachments directly to your clients at no cost to you. You can nd TransBuilder in the “Order
Supplies” submenu.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Advertising and Marketing Materials
All agent/producer materials utilizing the Transamerica logo and/or featuring our products must have
written approval from Transamerica LTC prior to use. If necessary, we will le advertising in those states
where ling is required.
Marketing materials are approved for one year’s use from the date of LTC Compliance approval. Aer one
year, materials should be resubmitted through the Transamerica Marketing Communications group for
review. Insurance Producer/Agent recruiting and product advertising on the Internet, by facsimile (fax), or
E-mail must also be approved prior to use.
Marketing materials should be submitted for review through the Marketing Communications mailbox at
L[email protected]. Please refer to the Professional Conduct Principles and Policies (TLC A PC),
available at the Agent Resource Center, www.taltc.com, for complete details.
Downloading PDFs from Transamerica Long Term Care
Log in to www.taltc.com. Go to Order Supplies > Print Order for both PDFs and hard copies. To download
PDF’s: “Le Click” on the icon (picture) at the le side of the page to make it full screen, then “Right Click”
and “Save As” to put on your desktop or in a folder on your PC.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Contracting and Licensing
Insurance Agents/Producers
All Long Term Care agents/producers must be properly licensed and be current on all Long Term Care
training requirements for all state(s) in which they expect to do business. Agents will be contracted and
appointed with Transamerica Long Term Care before being permitted to take any applications under
Transamerica Life Insurance Company (TLIC). So please apply for appointment prior to submitting an
application, even for “Just-in-Time” states.
Producers who are interested in selling Transamerica Long Term Care Insurance should contact their
marketing organization for the Application for Appointment and the Agent Agreement. If your managing
agency does not have a Transamerica selling agreement, please call our marketing team at 1-888-545-2713
and we will introduce you to a distribution channel that will best support your sales.
Electronic agent contracting/appointment is available. Please contact your marketing organization for an
authorization code to register.
Transamerica Life Insurance Company Licensing Department contact information:
Transamerica Life Insurance Company
Licensing Department
P.O. Box 869093
Plano, TX 75086-9093
Telephone: 1-866-588-8745
Fax: 1-866-630-7496
Email: LTCLicensing@transamerica.com
Once an agent has been appointed, a welcome letter will be sent to the agent, along with the executed
contract, via email or mail.
An agent writing number allows you full access to our Agent Resource Center (www.taltc.com,).
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Agent Licensing and Appointment
ATTENTION: You must verify the following information before submitting any business:
1. at you are properly licensed and appointed by Transamerica Long Term Care and by the state in
which you intend to solicit business
2. at the product you wish to oer is approved in the state in which you intend to solicit business
3. at you signed and returned the Professional Conduct Principles and Policies Acknowledgment that
accompanied your licensing and appointment paperwork
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Administration
Professional Conduct and Marketplace Standards
Code of Professional Conduct
As a Company, we are committed to treating our customers fairly and ethically. Our distributors are the
individuals and rms authorized to sell our insurance products. You have a responsibility to treat our
customers fairly and ethically. Our employees, who support our agents, brokers and representatives and
serve our mutual customers, share that responsibility and trust. As distributors and employees, we will
apply the principles and policies included in the Professional Conduct Principles and Policies (TLC A PC),
available on the Agent Resource Center at www.taltc.com. Agents and Producers receive a copy and sign an
acknowledgement at the time of contracting.Transamerica is committed to following the ethical principles
in the sale of life and Long Term Care insurance to individuals. In so doing the Company subscribes to these
six principles (see the Agent Resource Center for additional information):
To conduct business according to high standards of honesty and fairness and to treat our customers
as we would expect to be treated
To provide competent and customer-focused sales service
To compete fairly
To provide advertising and sales material that is clear, honest and fair in content
To handle customer complaints and disputes fairly and promptly
To maintain a system of supervision and monitoring reasonably designed to demonstrate the
Company’s commitment to and compliance with these principals.
If you have questions about any market conduct matter, please contact your management or the LTC
Marketing Department:
Transamerica Long Term Care
P.O. Box 869093
Plano, TX 75086-9093
1-888-545-2713
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
Table of Contents
e Transamerica Long Term Care Advantage
Why Long Term Care Insurance
What Sets Our Products Apart
- Policy Highlights
- Building a Policy
- Applying a Discount
- Choosing Payment Option
Suitability Guidelines
Underwriting Guidelines
Submitting Business
Tools and Materials
Contracting and Licensing
Administration
Additional References
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Additional References
Knowing the Tax Advantages of Long Term Care insurance
Paying for Long Term Care insurance may have important tax implications for your clients. “Frequently
Asked Tax Questions for Long Term Care Insurance” is a useful publication from Transamerica that is
intended to give you a better understanding of tax laws applicable to Long Term Care insurance. While
tax regulations can change and this publication should not take the place of professional tax advice, it does
provide information and examples that may be helpful to you in presenting the best opportunities for your
clients.
“Frequently Asked Tax Questions for Long Term Care Insurance” is available for download at the Agent
Resource Center, www.taltc.com.
How Transamerica Underwrites Long Term Care insurance
Your Long Term Care insurance business is built on applications that are successfully approved by us for
underwriting. Transamerica’s “Underwriting Field Guide” outlines our philosophy and expectations for
insurability and is designed to help you prepare your clients for the underwriting process and facilitate their
application. Note that we require regular doctor’s vists to qualify for the Preferred Health discount.
“Underwriting Field Guide” is available for download at the Agent Resource Center, www.taltc.com.
Quick Guide for Long Term Care insurance Facts
It can be frustrating to dig through a Long Term Care insurance policy to answer basic questions about
benets, requirements, and plan design. Transamerica’s “Fast Facts” (for agent use only) puts the essential
information about each of our policies at your ngertips so you can spend more time on your sales instead
of research.
“Fast Facts” is available for download at the Agent Resource Center, www.taltc.com.
Understanding Long Term Care insurance for Multi-Life
ere are additional steps when you are selling to a worksite, association or other Multi-Life group. e
Multi-Life Producer Guide will help walk you through the steps to ensure a successful case.
“Multi-Life Producer Guide” is available for download at the Agent Resource Center, www.taltc.com. Our
dedicated Multi-Life help line is 866-475-6925.
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
WWW.TALTC.COM
TABLE OF CONTENTS
This is an individual Long Term Care insurance policy underwritten by Transamerica Life Insurance Company,
Cedar Rapids, IA, or in NY Transamerica Financial Life Insurance Company (Administrative Ofce: P.O. Box
869093, Plano, Texas 75086-9093). Policy ICC13 TLC-4, ICC10 TLC-3, TLC 2-P CA 0216 or Policy Series TLC
2-P 0410, TFL 2-P NYF 0410, or TFL 2-P NYAF 0410. Qualifying for benets is required. Benet options not
available in all states. Policy features may be named differently depending on state. Exclusions and limitations
apply. Premiums and benets vary based upon plan selected.
Premium rates forTransCare® III vary by gender.
Although the policy allows the company to adjust premiums as needed, with prior approval if required by the
Interstate Insurance Product Regulation Commission or your state’s Department of Insurance, we cannot
increase premiums during the policy’s rate guarantee period. When a rate guarantee period ends, premium will
be adjusted by any premium increases that may have occurred during the rate guarantee period. We cannot
single out individuals for a premium rate increase, but we can change premium based on our experience with
all insureds in the individual’s same premium class. Once we issue coverage, we cannot cancel the individual’s
policy as long as they pay their premium on a timely basis.