Frequenty Asked Questions

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Transamerica Life (Bermuda) Ltd. is a leading life insurance provider incorporated in Hamilton, Bermuda. It is a wholly owned subsidiary of Transamerica Life Insurance Company, an AEGON company, a multinational organization headquartered in The Hague, The Netherlands. While Transamerica Life services US citizens living in Asia, Transamerica Life Bermuda services local citizens.

Transamerica Life (Bermuda) Ltd. and Transamerica Life Insurance Company have a Standard & Poor's Financial Strength Rating of "AA-" (Very Strong), which is the fourth highest of 21 ratings awarded by Standard & Poor's.

As its name indicates, term life insurance insures you for a specific term or span of years. If you die during the term, your beneficiary is paid the coverage amount subject to your policy terms. Because it provides "pure" insurance without any cash value accumulation, term coverage is generally less expensive initially than permanent coverage. Term insurance provides a great answer to the question: How will your family manage financially if you die prematurely?

Like all life insurance, term life insurance helps to provide peace of mind for you and your family. It also helps you protect the assets you've worked so hard to attain. And all this protection reaches up to 30 years into the future, at guaranteed level premiums you can afford today. The Trendsetter Super Series policies offer valuable protection for your family or business partnership with competitive premiums.

In addition to providing a death benefit, universal life insurance is a permanent insurance product in which the internal policy charges and interest crediting components are specifically broken out separately in the policy. Universal life insurance cash value is dependent on the interest crediting rate declared by the Company. Within certain limits, the policyowner can choose the premium he or she wishes to pay and this in part determines how the policy values develop. Each policy month, a monthly deduction to cover the cost of the insurance protection, as well as other policy charges, is deducted from the policy accumulation value. Fluctuations in interest rates and/or policy charges may require the payment of additional premiums to keep the policy in force.

Permanent coverage (subject to contract requirements), flexibility of payments, and cash value accumulation are the primary advantages over term insurance. Because of these advantages, universal life insurance can be used in estate planning and retirement planning, offering the insured a variety of options.