If you have been turned down for life insurance in the past now might be a good time to revisit your coverage.  Transamerica recently released new and improved underwriting guidelines.

  • Improved family history guidelines for genetic specific cancers. Applicants who have a family history of cancer may still qualify for Preferred Status on some types of genetic specific cancers.
  • Asthmatics may now be eligible for Preferred Status. Applicants with asthma, including those taking chronic medications, may now qualify for Preferred Status providing the applicant meets certain qualifications.
  • Cancer applicants may now be considered for Preferred Status. Preferred status may be considered for some applicants who have had no recurrence in the past 10 years.
  • Enhanced offers for low-substandard risks. Underwriting guidelines have become more lenient for various impairments so those who have previously been “table” rated may now be eligible to receive a standard rating.
  • New testing implemented for cognitive screening. Effective this month Transamerica has instituted a simpler and faster cognitive test for applicants age 71 and older.

In addition, they are still offer the TOP 25 program which we highlighted in our newsletter a few months ago.  This program allows people with existing term life policies to add additional life insurance without having to undergo medical underwriting. This additional coverage can be added to existing policies across almost all of the major life insurance carriers and does not change or amend your existing coverage in any way.

If you are interested in adding additional coverage for your family please contact us directly erinhaubner@wealth-mgt.net) or briandamiani@wealth-mgt.net to see if you might qualify for the TOP 25 program.