With the launch of the new Transamerica LifetimeSM and the new Final Expense Solutions Portfolio, we have experienced some unanticipated delays with policy issue. Our teams throughout Transamerica are working hard to ensure these disruptions are addressed and that all approved policies are placed in force as soon as possible.
Additionally, we understand not all applications are showing in the existing pending new business reports. We are working closely with our operations, technology, and other leadership teams to fix this issue.
In combination with the launch of Transamerica Lifetime and the Final Expense Solutions Portfolio, we sunset our pre-existing final expense and whole life products. All applications submitted in good order by the December 6, 2019, deadline were successfully processed by December 31, 2019.
We recognize delays like these can impact your business, and we appreciate your patience and continued support. The feedback we have received from the field has been invaluable, and has allowed us to more quickly address challenges as they have arisen. We will continue to keep you updated on our progress, and we are committed to processing applications within normal service times for these new products in the near future.
Vice President, Managing Director, External Sales and Key Accounts
Senior Vice President
Senior Managing Director Individual Markets