Call PMG at 877-512-9287 to ask questions or for contracting.
*An administrative fee is required at time of election. However, the actual payment your client receives in connection with any acceleration will be discounted and is lower than the Death Benefit amount accelerated.
**Monthly deductions are waived if the death benefit immediately prior to the initial election date does not exceed $1,000,000. Refer to endorsement form for complete details.
This action is being taken based on the current interest rate environment and the lack of profitability of NLG contracts under Real Time Pricing that results. If, at some point in the future, interest rates rise to the point that a fully guaranteed product can be manufactured profitably, Transamerica may re-enter the space.
Transition Rules: * This change is effective immediately, and only currently issued policies (meaning the physical policy has been received by the agency) will continue to be processed and placed. * ANY PENDING APPLICATION, FORMAL, INFORMAL OR OTHERWISE WILL NOT BE ALLOWED TO MOVE FORWARD. ONLY CURRENTLY ISSUED POLICIES. * We are told that no exceptions will be granted.
Possible Remedies: Transamerica is still very much open for business across the balance of their product line.
Postema Marketing Group is a full-service Independent Marketing Organization (IMO) dedicated to providing world-class products and services to our clients. We have partnered with some of the strongest names in the insurance industry and proudly serve independent agents from coast to coast.
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