Transamerica Introduces Revised TransACE CV

FEBRUARY 13, 2013 - On February 11, Transamerica introduced TransACE CV, its newly revised conversion and juvenile no-lapse guaranteed universal life product.

TransACE CV 2013, which features Transamerica’s Real Time Pricing model, features a 2 percent guaranteed minimum interest rate, a 5-year required minimum premium, a two-year rolling target, and the MultiFlex Surrender Enhancement Endorsement. It will also include the same, single life ACE interest rates applicable to TransACE 2013.

Applications for the current TransACE CV 2008 product must be received in good order by Transamerica’s Cedar Rapids Administrative Office by close of business on March 13. If a TransACE CV 2008 policy has already been issued but is still in its delivery period, it may be returned for reissue to a TransACE CV 2013 policy subject to underwriting approval and a new illustration.

For states where TransACE CV 2013 is made available after the February 11 introduction date, there will be a similar one-month transition period. Transition dates will be announced with the state availability notice.

 


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