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If you are sick... 

Life is full of the unexpected, and an unexpected disability can interrupt even the best-laid financial plans.
Beyond the death benefit
The death benefit of a life insurance policy is there to protect the people you love, after you are gone. In the event of a premature death, it will undeniably make a difference for your family, ensuring they are able to maintain their current lifestyle and are financially protected.
But what about while you are living? Life is full of the unexpected, and an unexpected disability can interrupt even the best-laid financial plans. A significant emotional and financial burden, it’s an event that can greatly affect your family’s financial security.
At Transamerica Life Canada, we believe that if you become disabled, the last thing you should have to worry about is whether your family is protected.
Waiver of Planned Premiums
Suffering a disability can affect your capacity to pay your premiums. This can have negative impact on both your ability to maintain your insurance coverage and your ability to reach your savings objectives. The Waiver of Planned Premiums Rider provides you and your family with valuable protection in the form of waived payments should you become disabled.
If purchased, this optional rider ensures that each premium amount waived will have the same effect as if you had paid it directly to Transamerica. In other words, nothing will change in terms of your coverage while this waiver is in effect. By ensuring you and your family remain protected and that your fund value continues to grow, this feature effectively minimizes the impact of a disability on your financial plans. No matter what happens, your family is still your priority. With the Waiver of Planned Premiums Rider you can rest assured that we’ll make sure you and your family remains covered.
Restrictions apply. Speak to your advisor to find out more details.
Waiver of Monthly Deductions
The Waiver of Monthly Deductions Rider will provide you with peace of mind knowing that if you become totally disabled the coverage you put in place for your family will continue with the monthly insurance charges being waived. 
If you choose to include this rider with your policy, and you become totally disabled, having the monthly deductions waived will allow you to maintain your existing insurance coverage providing your family with the secure future you intended for them.  This option does not cover premium payments.
This rider is available on select plans only. Ask your advisor for more details and to find out whether this option is available to you. 
Living Benefits: The flexibility that comes with universal life
How can Living Benefits help?
Living Benefits are a powerful feature built into Transamerica’s universal life plans at no additional cost to the policyholder. It is a completely flexible benefit that can be most helpful during your retirement years. By choosing to overfund your policy, and depending on which investment options you choose, the benefit amount built up by the time you retire can help ensure a more comfortable retirement.

Providing you with peace of mind and flexibility, Living Benefits from Transamerica provide tax-free* and surrender charge-free access to your fund value upon disability. This benefit covers disabilities caused by a disease or an injury and those caused by a comprehensive list of 26 critical conditions, including the need for long-term care.

* Under the Income Tax Act (Canada) and at the date of publication of this website, the receipt of Living Benefits is not currently taxable. Transamerica does not guarantee nor is it responsible for the tax treatment applicable to this policy feature. Please consult your legal or tax advisor for an opinion on this matter in relation to your particular circumstances.

For information on what qualifies as a disability and for the determination of the benefit amount available to you, please refer to the contract provisions. Disabilities caused by pre-existing conditions do not qualify.


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