Transamerica Suspending Sales of TransACE Products Effective Immediately
You Can count on TAG for other alternatives. Please get in touch with the life team (Brad,Patti or John) ASAP to get your cases re-quoted. 866-845-5292
Here are the details on The Transamerica product withdrawal…
This action is being taken based on the current interest rate environment and the lack of profitability of NLG contracts under Real Time Pricing that results. If, at some point in the future, interest rates rise to the point that a fully guaranteed product can be manufactured profitably, Transamerica may re-enter the space.
* This change is effective immediately, and only currently issued policies (meaning the physical policy has been received by the agency) will continue to be processed and placed.
* ANY PENDING APPLICATION, FORMAL, INFORMAL OR OTHERWISE WILL NOT BE ALLOWED TO MOVE FORWARD. ONLY CURRENTLY ISSUED POLICIES.
* We are told that no exceptions will be granted.
Transamerica is still very much open for business across the balance of their product line.