No More COVID Age Restriction on Final Expense

At the onset of the pandemic, Transamerica put a temporary hold on accepting applications for clients over age 75 for any life insurance product. While COVID-19 is far from over, we are removing this guideline only for our Final Expense Solutions Portfolio, our simplified issue whole life insurance offering. This affects all three products, including Immediate Solution, 10-Pay Solution, and Easy Solution, and it takes effect Monday, November 23, 2020.

Keep in mind, underwriting for individuals 70 or above who’ve been diagnosed with COVID-19 should be postponed for six months from date of recovery. Individuals who have had COVID-19 in the last six months may not qualify for coverage.

We will not be accepting previously declined final expense cases since prior information from those applications will be used in the underwriting process. If submitted, anything that was declined within the last two years will likely auto-decline again based on existing rules for this business.

DRUGS IMPACTING ELIGIBILITY

We understand writing policies for people over age 75 leads to a lot of questions.
Our mobile-enabled Rx lookup tool can help put answers at your fingertips and set proper expectations with clients.
Simply input a client’s prescription(s) and see how it may influence underwriting risk class and product eligibility.