LITTLE ROCK, Ark. (Feb. 2, 2015) – As people live longer and save less, the need for financial protection increases. Working to bring employers and employees the benefits they need, Transamerica launches TransEliteSM – life insurance with living benefits.
Similar to traditional life insurance, TransEliteSM can also be used for final expenses, a survivor's college tuition, a survivor's living expenses, or as an inheritance for beneficiaries. But that's where TransEliteSM stops being traditional and goes beyond.
If the insured is diagnosed with a terminal illness, a portion of the policy's death benefit can be used to provide some financial relief. In the event the insured is laid off, the policy's monthly deductions can be waived for up to six months. And, because of its potential to accumulate cash value, loan and withdrawal options are available.
"Life insurance shouldn't be offered as one-size-fits-all policies," said John Stanley, chief marketing officer of Transamerica Employee Benefits. "At Transamerica, we provide employers customizable options to meet the individual needs of each employee."
In keeping up with the changing needs of the workforce, employers can offer employees $10,000 up to $500,000 of benefit without requiring physical exams or blood tests. And they can adjust the benefit amount at any time.
Using TransEliteSM to assist with current and long-term financial protection of employees can make a good benefits package a great one – at no expense to the employer.
Transamerica Employee Benefits is a marketing unit of Transamerica Life Insurance Company offering voluntary life and supplemental health insurance products. At Transamerica, we help our customers Transform Tomorrow®. With more than a century of experience, Transamerica has built its reputation on solid management, sound decisions and consumer confidence. For more information, visit www.transamerica.com. Insurance products are underwritten by Transamerica Life Insurance Company.
Renee Preslar, Communications Manager
Transamerica Employee Benefits
800.400.3042 ext. 1271126