Transamerica Withdrawls Sale of Two TransAce Products

As you’re aware, the interest rate environment has been difficult for years. In order to continue offering the desired coverage, we developed innovative Real Time PricingSM on our TransACE® products.

Unfortunately, the interest rate environment has continued to deteriorate and we’ve therefore made the difficult decision to exit the market.

As a result, we are withdrawing two of our TransACE products for new sales, effective immediately. The following products are no longer available for sale in any jurisdictions.

  • TransACE
  • TransACE Survivor®

In addition to withdrawing these products for new sales, we have also stopped processing applications in underwriting and new business. We will be sending letters to affected applicants (and any premium refunds), with copies to General Agencies. Policies that are already out for delivery are not impacted. However, there will be no extensions of delivery periods.

We have also stopped processing applications that involve 1035 exchanges unless the request for funds has been sent to the existing carrier. The normal Real Time Pricing guidelines will apply to these cases while we are acquiring the 1035 funds from the existing carrier. We will issue the policy and apply the 1035 funds when they are received.

We understand what this decision means for general agents, producers and customers. We believe in the value of UL products but the current TransACE design is no longer sustainable in this economic environment. We are reviewing our UL product offerings and will seek consumer input as we develop a new design..

Posted by Calkins-Kramer Insurance, Inc. on February 05th 2015
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Genworth to Stop the Sale of GenGuard UL

Effective February 16, 2015, GenGuard® UL will no longer be offered as part of our life insurance product suite.


With our emphasis on index UL and linked benefits product growth, this change allows us to better align our resources and focus on enhancing support towards the two fastest growing life insurance products in the industry – index universal life insurance and linked benefits. Guarantee UL sales have continued to trend downward. According to LIMRA, as of 3Q 2014, Guarantee UL represents only 21% of UL premium. Index UL sales continue to grow, representing over 50% of all UL sales and we see this product segment continuing to grow. In addition, GenGuard® UL currently represents a very small percentage of our business.


Our life product focus is to continue expanding our index UL and linked benefit solutions, while remaining relevant in the term life insurance market. Later this quarter, we will launch an even more competitive accumulation and protection solution. Consumers are seeking life insurance products that provide multiple benefits including death benefit protection, cash accumulation and long term care benefits. Our focus is to deliver on meeting these needs.

Posted by Calkins-Kramer Insurance, Inc. on January 06th 2015
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Banner Announces Interest Crediting Rate Changes on Inforce Products

banner new crediting rates

Posted by Calkins-Kramer Insurance, Inc. on November 11th 2014
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Webinar-Long Term Care verses Chronic Illness Riders

Join us on Tuesday, November 11, 2014 at 2pm. Genworth will be offering a webinar which explains the differences between Long Term Care and Chronic Illness Riders.  What questions to ask about these options. Contact Calkins-Kramer Insurance for the link to register for this event.

Posted by Calkins-Kramer Insurance, Inc. on October 31st 2014
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Long Term Care Product Change Announced

NOW IS THE TIME TO LOCK IN RATES AND BENEFITS FOR YOUR FLORIDA LTC CLIENTS Major Long Term Care Company announces a LTC product change in Florida. Time is limited to lock in the current Long Term Care Product and rates for Florida Cases. The New Product will offer : Gender Based pricing Decreased maximum limits for daily and monthly benefits Reduce maximum benefit years Home Care Services will now only be reimbursed for Agency Services Contact our office now to update your quotes and lock in the current product benefits and rates for your clients.

Posted by Calkins-Kramer Insurance, Inc. on October 13th 2014
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