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TABLE OF CONTENTS
Why do I need Living Benefits? ..................................1
What are Living Benefits on a Life Insurance
Policy and Accelerated Death Benefits?......................2
How do Living Benefits work?....................................2
LB
WHAT ARE LIVING BENEFITS ON A LIFE
INSURANCE POLICY AND ACCELERATED
DEATH BENEFITS?
Q: What are Living Benefits on a life
insurance policy?
A: Living Benefits provide access to cash from a life
Accelerated benefit interest rate in effect (used to determine the present value of future benefits and premiums).
Critical Illness
Chronic Illness
Heart Attack
Stroke
Bathing
Cancer
Continence
Dressing
Eating
ALS
Toileting
Transferring
Paralysis of two or
more limbs
Severity of Illness
Age at Claim
Minor
Moderate
Severe
45
$28,610
$ 62,466
$117,180
50
$31,845
$ 68,884
$123,180
55
$31,800
$72,970
$131,382
The longer you are expected to live, the lower the benefit
you will receive. The shorter you are expected to live, the
higher the benefit you will receive. The remaining amount
of the face amount will be $20,000, which is the remaining
amount after the maximum of 90% was accelerated from
the face amount.
LB
MEET SHAWN
Shawn is married with two children. At the age of 40,
he purchased a Trendsetter LB 30 policy with a face
amount of $200,000. At the age of 45 he suffered a
serious heart attack that would qualify him to use the
Critical Illness Accelerated Death Benefit in his policy
to access money to help pay for his medical expenses.
He chose to accelerate 90% of his policy
($180,000).
MEET JANE
Jane is 60 years old and has a Trendsetter LB 20
policy with a face amount of $300,000. At the age of
64, she became ill and qualified for the Chronic Illness
Accelerated Death Benefit because she was unable
to bathe and dress herself, which are two of the six
activities of daily living. She needed in-home care and
wanted to hire a nurse to help her.
Since her health insurance didnt cover all the
expenses of the nurse, she chose to accelerate a
portion of her death benefit.
LB
Q: What can I use the money for?
A: You determine how the money is used. You can pay for
death benefit) claim are paid to you, the policy owner, not
the named beneficiary.
Q: Can I find out what the living benefit payout
will be before filing for a claim?
A: A quote in response to a claim is provided before
maximum is $999,999.
Q: Will my premiums remain the same
each year?
A: Your premiums will remain the same for the initial
LB
1
http: //www.cdc.gov/dhdsp/data_statistics/fact_sheets/docs/fs_heart_
disease.pdf
2
http://www.cbsnews.com/8301-505146_162-39940799/how-muchwould-a-heart-attack-cost-you/
3
http://www.foxbusiness.com/personal-finance/2012/05/15/criticalillness-insurance-do-need-it/print
4
5
7
Trendsetter LB is term life insurance issued by Transamerica Life Insurance Company, Cedar Rapids, IA 52499. Policy Form No. TL19. Premiums
increase annually beginning in year 11 for the 10-year policy, in year
16 for the 15-year policy, in year 21 for the 20-year policy, in year 26
for the 25-year policy, and in year 31 for the 30-year policy. Policy form
and number may vary, and this policy may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In
most states, in the event of suicide during the first two policy years, death
benefits are limited only to the return of premiums paid.
5
OL 3147WFG 1013