Transamerica Simplifies Final Expense Insurance for Consumers and Agents

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Sep 18, 2024, 09:15 ET

The new Transamerica FE Express Solution provides a streamlined, fully integrated, digital experience for application and management of policies

BALTIMORE, Sept. 18, 2024 /PRNewswire/ -- Transamerica today announced the introduction of a new final expense insurance offering that provides applicants with an easy, digital experience — from quote to policy delivery — in as little as 10 minutes. The new Transamerica FE Express Solution℠ (FE Express) provides guaranteed level premiums and permanent lifetime protection, up to $50,000 for qualified applicants.

"Everyday Americans deserve protection that is designed to be quick and easy to apply for at affordable prices," said Andrew DeMarco, head of life solutions at Transamerica. "That's why Transamerica created FE Express to provide peace of mind at a budget-friendly price point. The intuitively designed digital platform gives agents and customers access to manage their policy when it works for them."

FE Express comes with with an optional Funeral Concierge Rider provided by Everest Funeral Concierge, at no additional premium cost. Staffed round-the-clock, families have access to trained professionals* who specialize in funeral planning, offering support to clients before, during, and after the loss of a loved one. The service also provides legacy planning tools to create a will, healthcare directive and other customized legal documents, and then stores them for convenient access.

The FE Express integrated, online platform streamlines the application process to identify options and premiums to fit the consumer. Text and email signatures and electronic policy delivery make the buying process simple, while online policy management lets the consumer stay on top of their policy 24/7.

Powered by Bestow**, a leading life insurance technology company, consumers and agents benefit from the specialized technology platform and self-service options offered by FE Express. The interactive dashboard gives a snapshot of application status and current policies, helping agents understand and manage their business.

"Through their dedication to our customers, agents see first-hand how Transamerica products and services help clients, often when they need it most," said DeMarco. "FE Express, with the ease-of-application and unique benefits, will assist our agents build even stronger relationships and connect with new customers in underserved markets."

FE Express is the latest addition to Transamerica's final expense suite of products, which include Immediate Solution, 10-Pay Solution and Easy Solution.

To learn more about the products and services Transamerica provides to help individuals live their best life, visit www.transamerica.com.

* All services are offered by Everest Funeral Package, LLC, which is not an affiliate of Transamerica.
** Bestow, Inc. is not an affiliate of Transamerica.

Transamerica FE Express Solution, policy form number ICC23 TPWL14IC-0123, and Transamerica Graded FE Express Solution, policy form number ICC23 TPWL15IC-0123, are whole life insurance policies issued by Transamerica Life Insurance Company, Cedar Rapids, Iowa.

Concierge Planning Rider Policy Form PRGU1000-0320; Accelerated Death Benefit Rider with Nursing Home Benefits Policy Form ICC18 TRAC10IC-0818; and Accelerated Death Benefit Rider Policy Form ICC18 TRAC11IC-0818.

Policy form and number may vary, and this product and riders may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. It is not guaranteed issue and the underwriter reserves the right to request additional medical exams and data.

Not available in New York.

About Transamerica
With a history that dates back more than 100 years, Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Transamerica's dedicated professionals focus on helping people live their best lives through saving, investing, and protecting their loved ones. Transamerica is dedicated to building America's leading middle market life insurance and retirement company, with unique access to the large and growing middle market consumer via World Financial Group and US retirement recordkeeping. Transamerica provides a broad range of quality individual life insurance policies, workplace supplemental insurance benefits, workplace retirement plans, individual retirement accounts, and investment products including mutual funds, annuities, stable value solutions, as well as investment management services.

In 2023, Transamerica fulfilled its promises to customers, paying more than $47 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica's head office is in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa, and Denver, Colorado. Transamerica is part of the Aegon group of companies. Each Aegon company is solely responsible for its own financial conditions and contractual obligations. Headquartered in the Netherlands, Aegon is an international financial services holding company.

For more information, visit www.transamerica.com.

About Everest Funeral Concierge
Everest is a funeral planning and concierge service rolled into a life insurance plan. When help is needed, our 24/7 Advisors are one phone call away, ready to personalize the funeral plan, compare and negotiate best prices, and work with our life insurance company partners, to get monies to the beneficiary in as little as 48 hours after death. Serving as an impartial advocate for families, Everest is not a funeral home, nor does it sell funeral goods or services and does not receive commissions from funeral homes or other providers in the funeral industry. Millions of people across the U.S., Canada, and the U.K. are covered by Everest. Visit www.EverestFuneral.com for more information.

About Bestow
Bestow is on a mission to increase financial stability for everyone. We partner with top life insurance carriers to deploy cutting-edge technology and data solutions that reduce costs, maximize efficiency, and drive growth by streamlining processes from origination and underwriting through administration. To learn more, visit Bestow's website.

Media inquiries:
Email: [email protected]
Erin Yang
(303) 383-5295

SOURCE Transamerica