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Transamerica has been specializing in the management of international life insurance for over 100 years. As one of the oldest life insurance companies, Transamerica have a long history of providing comprehensive cover and a proven track record on servicing.

Useful Info

Transamerica is the best option for you when it comes to expat life insurance due to the following aspects:

1. Customer Protection
Transamerica puts strong emphasis on consumer protection and is backed by Bermuda Monetary Authority, the Monetary Authority of Singapore and the Insurance Authority of Hong Kong. They also have full service branches in Hong Kong and Singapore which are registered and licensed by the Hong Kong Insurance Authority and Monetary Authority of Singapore respectively.

2. Underwriting specialist
Transamerica Life Bermuda is a recognised leader in handling large sums assured and complex cases supporting legacy and business planning.

3. Financial strength
Transamerica has been managing universal life portfolios since 1981. With a tradition of effective investment strategies and a prudent risk management culture, we are devoted to delivering our long-term commitments.

Transamerica Life Bermuda has received the same high rating as Transamerica Life Insurance Company from Standard & Poor’s, one of the industry’s most respected independent rating services. As a measurement of our financial strength and performance, these ratings are a direct reflection of the care with which we manage our business.

Transamerica’s Trendsetter Super Series life insurance policy offers coverage at a level elected by you at competitive premiums. The life insurance policy also offers a choice of initial terms of 10, 20 or 30 years with guaranteed and level premiums to suit your needs.

The premiums will then increase annually until the insured’s age 95. With a high sum assured for a fixed term and your liquidity intact, you are offered the best of both worlds. In addition, Trendsetter Super Series provides you with the flexibility to convert your policy to a permanent life insurance policy if you need lifelong protection later.

The below riders can be added to your Transamerica’s life insurance policy subject to underwriting:

Accident indemnity rider

Features of this rider include:

• This rider provides an additional death benefit if the insured dies as a result and within 90 days of an accidental bodily injury before the insured’s 70th birthday, subject to certain exclusions;

• The benefit is doubled if the accidental bodily injury occurs while the insured is a fare-paying passenger in an aircraft, bus, train or other means of public conveyance operated by a licensed common carrier for passenger services;

Waiver of premium rider

Features of this rider include:

• With this rider premium payment is waived in the event of total disability provided certain conditions are satisfied and the total disability begins before the policy anniversary nearest to the insured’s 60th birthday;

Conversion rider

Features of this rider include:

• The rider allows the policy owner to convert the term policy to permanent life insurance policy made available by Transamerica Life Bermuda at the same or lower sum assured without further evidence of insurability;
• The policy may be converted by the policy owner any time before the end of the initial term or the insured’s 70th birthday, whichever is earlier;
• This rider can be selected in the application and cannot be added after the policy is issued;
• Issue age: 18 to 65.

Accelerated death benefit

This option may be exercised after the insured has been diagnosed and certified as having 12 months or less to live from the date of the physician statement, subject to certain exclusions and limitations;

Policy exclusion for suicide

If the insured person commits suicide within two years after the policy is issued, Transamerica will not pay the death benefit. They will only return the premiums you paid for the policy up to that time.