Transamerica is committed to you and your clients. As a leader in Long Term Care insurance, Transamerica actively manages our long term care business to ensure that our programs and products align with our core business philosophy and our key objective to "Protect Families and Their Dreams". Family Matters with Transamerica. We've worked with you to create the next-generation of Long Term Care insurance that reflects the current realities of the marketplace and provides you with the flexibility and benefits you told us you need to succeed. We continue to believe that there's tremendous opportunity for long term care solutions that are easy to sell and flexible.

We are pleased to announce that beginning September 10, 2013 you will be able to sell TransCare® III, a new Long Term Care insurance product from Transamerica Life Insurance Company for the individual market. TransCare® III offers innovative long term care solutions for a variety of client needs and budgets, including the need for inflation protection.

What's new with TransCare® III?

  • Maximum Daily Benefit increases from $400 to $500
  • Policy Elimination Period expanded to 365 days*
  • Couples Discount increased to up to 30% and is available to couples even when they select different benefits**
  • Gender-Based Pricing that reflects the higher claim rates for females across the industry and allows for positive changes in what we can provide to couples applying together, like the ability to maintain the couples discount when writing policies with differing benefits**
  • Elimination Period Credit Rider now applies Home Care and Adult Day Care Benefit days toward the Elimination Period
  • Waiver of Premium Rider for Home Care and Adult Day Care now continues to waive premiums after policy holder transfers to a Long Term Care facility and is satisfying the elimination period
  • Tailored Benefit Increase Option Rider provides another competitively priced option for inflation protection
    • Compounds the Maximum Daily Benefit and Policy Maximum by 5 percent on each anniversary prior to age 61, by 3 percent from age 61 to 75, and goes to zero after age 75
  • Enhancements to the Deferred Benefit Increase Option
    • Step-Rated and Tailored Benefit Increase Options are now included as Benefit Increase Option choices on the first, third, and fifth anniversary of the policy
    • Benefit Increase Options are priced at age of issue

What's the same?

TransCare® III is built on a product you already know - TransCare® II. We took the best of TransCare® II and enhanced it with benefits you told us you need to succeed. TransCare® II will continue to be available for Multi-life worksite sales, some association sales, and individual sales in states where TransCare® III is not yet approved (see Comparison Chart). Benefits that remain with TransCare® III include:

  • 0-Day Elimination Period for Remain at Home and Cash Benefits
  • Built-in Cash Benefit
  • Return of Premium to Age 67
  • Double Accident Benefit to Age 67
  • Step-Rated and the built-in Deferred Benefit Increase Options

What's next?

TransCare® III will be available for individual sales on September 10, 2013, in all Interstate Compact states, which include:

AL, AK, CO, GA, ID, IL, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NE, NH, NM, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WV, WI, WY

We will launch additional states as we receive approval from each state's Department of Insurance.

For the above states, individual applications for TransCare® II will continue to be accepted through September 9, 2013. On September 10, 2013 the only product available in the above states for individual and select association sales will be TransCare® III. TransCare® II will continue to be available for Multi-life worksite cases in all states. Click here to see a TransCare® II/TransCare® III comparison chart.

Look for details in the coming weeks about several opportunities to learn more about TransCare® III, including a new TransCare® III website and special webinars. New Family Matters with TransamericaSM marketing materials will be available for download and print on September 3, 2013, including Product Brochures, Applications, Disclosures and consumer kits.