Life insurance plans in usa. Stonebridge Life Insurance Company Product Assumption

Transamerica values our customer relationships, and we want to explain why your Stonebridge Life Insurance Company (“Stonebridge Life”) Medicare Supplement policy is being transferred to Transamerica Premier Insurance Company (“Transamerica Premier”). Transamerica Premier was formerly known as Monumental Life Insurance Company and has been providing insurance protection since 1858. These insurance companies are all affiliates of Transamerica. Stonebridge life insurance.

Through the Notice of Transfer you received, we are asking for consent to move your Medicare Supplement policy to Transamerica Premier. This transfer will not affect your benefits or premiums in any way. Please discuss this transfer with your agent. They are informed and ready to assist with any of your questions.

Medicare Supplement customers who reject this transfer, along with all other Stonebridge Life policyholders, will become policyholders of Transamerica Life Insurance Company (“Transamerica Life”) later this year, as we continue our consolidation. Regulations do not require the same consent when merging companies as they do with transferring policies.

We look forward to serving your insurance requirements for many years to come. Listed below are answers to frequently asked questions. You may call Transamerica at 1-888-272-9272.

Frequently Asked Questions

Why am I being asked for consent to transfer my policy?

When two insurance companies transfer products, we are required to get customer consent before moving their policy. Laws exist to protect customers when a company sells or otherwise transfers an insurance product line to a separate company. We follow these regulations even though in this case, both companies are affiliates of Transamerica.

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Why does the Notice say if I do not consent, my policy will transfer to Transamerica Life?

We are rebranding all our companies under our Transamerica brand. Your Stonebridge Life agent sold Medicare Supplement policy is transferring to Transamerica Premier Life with our other Agency sold products, so we are requesting your consent. All policies remaining on Stonebridge Life, including all Medicare Supplement policies that do not consent to the transfer, will eventually be transferred to Transamerica Life.

Where do I send my payments?

Automatic payments will continue to process as usual. You should continue to send payments on your existing policy to the address indicated on your billing statement. Please make checks payable to the name indicated on any billing statement.

When will this assumption transfer occur?

The effective date is July 1st, 2015; however it takes some time to obtain all necessary state approvals and to transfer your policy within our internal systems. So, during the transition period, you may receive correspondence with the name Stonebridge Life or the new name, Transamerica Premier.

What if I have a claim in process?

The assumption has no impact on your claims. Your claims with Stonebridge Life will continue to be processed according to the terms and conditions of your policy. You may receive correspondence or payment under either name, depending on timing of the state approvals and system changes.

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Do I need a new policy?

No. Your benefits have not changed. The only change is that your coverage is now provided by Transamerica Premier if you consent to the assumption. You will receive a new ID card and a certificate to attach to your policy specifying the company change.

Does my agent change?

Was this change due to an acquisition of Stonebridge Life Insurance Company?

No, Stonebridge Life, Transamerica Premier Life, and Transamerica Life are all affiliates of Transamerica. The result is that the services and support you’ve become accustomed to will not change. Your support staff, computer systems and payment processing will remain the same.

What will happen to my coverage?

There are no changes to your coverage. Please be assured you have the same valuable protection and your benefits will remain the same.

What number should I call about questions related to the merger?

Please call toll-free number (888) 272-9272.

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What number should I call for transactions or questions regarding my policy?

Please call toll-free number (888) 272-9272.
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