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.
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