Transamerica Rate Revision in New Jersey

Jan 24, 2018 • LTCI Partners

Transamerica Rate Revision in New Jersey

Transamerica

Transamerica

TRANSAMERICA LONG TERM CARE UPDATE:
STATE OF NEW JERSEY PRICING REVISION FOR TRANSCARE^® II AND TRANSCARE^® III

Transamerica Life Insurance Company remains committed to you and to the long term care insurance market. As such, it's important that we modify our premium rates for new TransCare^® II and TransCare^® III business to reflect actual claims experience by policyholders. These rate changes will also maintain consistency in our pricing across our product portfolio which will allow Transamerica Life Insurance Company to remain highly competitive within the marketplace.

These refreshed rates are exclusively for new sales of TransCare^® II and TransCare^® III in the state of New Jersey and will become effective 7 a.m. CT February 1, 2018.

Individual/Couples Deadlines
To receive old rates, applications must be signed and received in good order by 9 p.m. CT on January 31, 2018.

Worksite Business
For all worksite groups already approved under TransCare^® II - 2012 rates, open enrollment must be completed by March 30, 2018 in order to receive old rates. If group open enrollments are changed or extended for any reason, applications received after March 30, 2018 will be subject to the new TransCare^® II - 2016 rates.

Service Group Request Forms (SGRs) and all other required worksite documents must be submitted in good order by January 31, 2018 to receive TransCare^® II - 2012 New Jersey rates. Open Enrollments associated with these groups must be completed no later than March 30, 2018 in order to get TransCare^® II - 2012 New Jersey rates. Open enrollments requested beyond March 30, 2018 will be subject to new TransCare^® II - 2016 rates.

Association Business Deadlines
For TransCare^® II and TransCare^® III Association Business in the state of New Jersey, all applications must be both signed and submitted to the home office by 9 p.m. CT January 31, 2018 in order to get TransCare^® II - 2016 and TransCare^® III old rates for New Jersey. Any application received on February 1, 2018 or after will receive TransCare^® II - 2016 and TransCare^® III - 2017 New Jersey rates, without exception.

Previously saved quotes on TransQuote^® will no longer be available starting 9 p.m. CT on January 31, 2018. Application packages and marketing materials are not changing at this time.

If you have questions please contact your sales desk.

Thank you for your business and your trust in Transamerica Life Insurance Company.

Long Term Care insurance policies are issued by Transamerica Life Insurance Company, Cedar Rapids, IA 52499, or Transamerica Financial Life Insurance Company, Harrison, NY 10528

For insurance agent/producer use only. Not for public distribution.
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Transamerica Rate Revision in New Jersey

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