false
Catalog
KJ's Test Course
Transamerica_2024_Critical Illness BiWeekly_Summar ...
Transamerica_2024_Critical Illness BiWeekly_Summary_ASGE
Back to course
Pdf Summary
CriticalEvents is a critical illness insurance product from Transamerica Life Insurance Company, offering lump-sum cash benefits for individuals diagnosed with specific serious illnesses. This insurance is designed to alleviate the financial burden associated with major medical events such as heart attacks, strokes, and major organ failure, among others. <br /><br />The insurance provides flexibility, allowing insured individuals to use the payout as needed, such as covering lost income, medical bills, deductibles, travel expenses for specialized treatment, and personal expenses like mortgage payments and childcare costs. Importantly, benefits are paid directly to the policyholder, there’s no lifetime maximum on payments, and there's no waiting period.<br /><br />The policy, purchasable through employers, covers various critical illnesses with specified payout percentages. For instance, 100% of the elected benefit is paid for heart attacks and strokes, while 25% is offered for coronary artery disease managed with bypass grafts. Optional add-ons like the Cancer Benefit Rider are also available to cover conditions such as invasive cancer.<br /><br />Portability is a key feature, enabling policyholders to retain their coverage even when changing jobs, provided premiums are paid directly to Transamerica. The policy adapts to different family structures, allowing coverage for spouses and children.<br /><br />Critical illness definitions are precise, ensuring clarity in qualifying diagnoses. The policy outlines exclusions, such as losses due to illegal activities, and specifies conditions for termination. Importantly, the policy is supplemental, not replacing major medical insurance or meeting federal health coverage requirements.<br /><br />Transamerica emphasizes transparency in agent compensation practices, promising full disclosure upon request. For continuous client-agent trust, Transamerica provides detailed compensation information on its website, encouraging customers to directly engage with agents for specific queries.
Keywords
critical illness insurance
Transamerica Life
lump-sum benefits
financial burden
medical events
policyholder payout
coverage flexibility
Cancer Benefit Rider
policy portability
agent compensation
×
Please select your language
1
English