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QUESTION: Does Transamerica's 3% step rate qualify for Pennsylvania partnership program?

ANSWER:

The “3% step rated” inflation benefit is “an automatic increasing benefit option” and it is a “lifetime increasing option”. According to your definition the “3% step rated” inflation benefit should qualify for the Pennsylvania Partnership Program, but you’re correct in that it does not qualify for the Pennsylvania Partnership program.

I believe the reason Pennsylvania doesn’t allow the “step rated” inflation benefit to qualify for the Partnership program is because the premium increases each year as the daily benefit increases each year.

Most states do allow the step-rated inflation benefit to qualify for the Partnership program. But Pennsylvania does not.