Convertibility Question re Transamerica Super Trendsetter 15-Year Level Term Plan
Hello,
I am having a heck of a time figuring out my conversion options (term –> whole) for my current Transamerica Super Trendsetter 15-Year Level Term Plan, and any help about what the boilerplate in this specific plan says would be appreciated. My goal is to convert it as close to the end of the convertibility period as is safely possible, in order to pay the lower term premium while I can, without triggering the need for another medical check-up/physical.
I asked my agent about convertibility and he said that they are typically convertible for 5 years after being written. I wanted to be sure so I called Transamerica and the rep said it's convertible for the whole 15-year term. With this discrepancy, I asked how to request a copy of my policy be emailed to me, since I couldn't find it in the customer portal. Prior to building a relationship with a "real life" agent, I originally bought it online through an online 3rd party broker (PolicyGenius) and never received a physical copy — I'm a pack rat with vital records, auto/home records, etc.! I requested my policy online and they sent me a confirmation of insurance. Not good! Then I called and they sent me a form that I either needed to fax or mail in with a $25 check. I initially faxed the form in a couple months ago… nothing! Then I mailed it with a physical check about a month ago… nothing again!
So here I am, trying to figure out what my options are because I do *NOT* want to miss my window to convert without a health update, due to certain changes in my health.
Here are some relevant details from my Transamerica portal… Thank you for any help! I'm getting confused/frustrated by the inconsistent answers I'm receiving and the lack of responsiveness from Transamerica.
Policy Information
Policy Number:
xxxxxxxxxxxxxxxxxxx
Policy Type:
TERM LIFE INSURANCE POLICY
Product Name:
SUPER TRENDSETTER 15 YR LEVEL
Policy Date:
AUG 04 2020
Financial Details
Face Amount:
$500,000.00
Paid To Date:
AUG 04 2024
Premiums/Billing
Last Premium Deposit Date:
AUG 14 2023
Annual Premium (next 12 months):
$220.00
Modal Premium Amount:
$220.00
Payment Frequency:
ANNUALLY
Payment Method:
DIRECT BILLING
Coverage Information
Information As Of:
MAY 15 2024
Policy Number:
xxxxxxxxxxxxxxxx
Policy Type:
TERM LIFE INSURANCE POLICY
Kind Code:
N/A
Plan Code:
TD549B
Product Name:
SUPER TRENDSETTER 15 YR LEVEL
Risk Class:
PREFERRED PLUS NON-SMOKER
Face Amount:
$500,000.00
Policy Fee:
$30.00
Issue Date:
JUL 27 2020
Status:
INFORCE PREM PAYING
submitted by /u/NoNotThisPig
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