Product Guide - wbassoc

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TransACE Survivor ®Interest Assumptions 18Current Interest Rate 18Guaranteed Minimum Interest Rate 19Policy Lapse, Grace Period, and Reinstatements 19Policy Lapse 19Grace Period 19Reinstatements20Full and Partial Surrenders 20Full Surrender 20Partial Surrenders 20Loans21Capitalization of Loan Interest 21Loan Repayments 21Automatic Premium Loan (APL) 21Policy Changes 22Policy Face Amount Increases 22Policy Face Amount Decreases 22Underwriting Class Changes 22Rewrites23Conversions23Information About Federal Tax Laws 23MECs and IRC Section 1035 Exchanges 24Riders and Options 25Accelerated Death Benefit (ADB) 25Automatic Premium Loan (APL) 25Option to Split the Policy 26Estate Protection Rider (EPR) 26Guaranteed Policy Split Option Endorsement (GPSO) 26Income Protection Option (IPO) 27MultiFlex Surrender Enhancement Endorsement 27Surrender Charge Waiver Endorsement(“Honeymoon Provision”) 28Surrender Penalty Deferral Endorsement 28TransACE Survivor ® is a nonparticipating, flexible premium joint universal life insurance policy issued by Transamerica Life InsuranceCompany, Cedar Rapids, IA 52499. Policy Form No. ICC12 UL06 (CVAT). Policy form and number may vary and this policy may not beavailable in all jurisdictions.2 | TransACE Survivor ® Product Guide
Product GuideTransACE Survivor ® Quick FactsIssue AgesSelect risk class with level orplus-premium death benefitoptionAll other risk classes withlevel death benefit optionAll other risk classeswith plus-premium deathbenefit optionEstate Protection RiderExact Age16–69 years (age nearest birthday)16–85 years (age nearest birthday)(older joint insured up to age 89)16–80 years (age nearest birthday)16–80 yearsAge nearest birthday of the younger insuredMinimum Face AmountPolicy $250,000Estate Protection Rider $25,000Maximum Issue AmountPolicyEstate Protection RiderMaturity DateLimited to retention, up to $10M maximum125% of policy face amount$10M maximum includes both policy face and EPR amounts.NoneBands Band 1: $250,000–$999,999Band 2: $1,000,000 and upRequired MinimumPremium (RMP)Interest RatePolicy ThresholdThreshold PeriodThreshold Interest Rates5 yearsCurrent: Company-declaredGuaranteed minimum: 2%A number calculated to determine a policy’s eligibility for theguaranteed death benefit under the No-Lapse Guarantee Endorsement.The span of time that the No-Lapse Guarantee Endorsement is in effectfrom the policy issue date to the policy anniversary at exact age 111.This is a set of rates that vary by duration and are used in the formulato calculate the policy threshold. The set of rates is comprised of aninterest rate for years 1–9, years 10–25, years 26–40, and years 41 andlater. These rates can change on a weekly basis.transamerica | 3
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Page 19 and 20: Product GuideMonthly Deductions (MD
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Product Guide - wbassoc

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