Transamerica Life Insurance Review [2024]

Planning to pay high rates on life insurance is a bit unrealistic. That rate is an expense you’re stuck with for the rest of your life. When shopping for life insurance, there’s a lot to think about—different types of term life insurance is just one of many factors to consider. Price is another.

If you want affordable life insurance rates, Transamerica life insurance company may be a good option. Read this Transamerica life insurance review for quotes, the best way to get rates, and more.

Before you get started on our Transamerica life insurance review, take a minute to enter your ZIP code into our free quote tool and start comparing rates today.

What are Transamerica’s average life insurance rates by age?

Several factors affect life insurance rates, including age, health, lifestyle choices like smoking, where you live, and more. To give you an example of Transamerica rates, we pulled average rates for smokers (both men and women) between 25 and 65. Take a look.

TransAmerica Average Monthly Life Insurance Rates for Smokers by Age and Gender (2020)

As you can see by the data in the table, Transamerica life insurance offers affordable rates (even for smokers, who are typically considered higher risk than non-smokers).

Another data point to consider is that males usually pay more for life insurance than females, and as we noted, health can have a significant effect on your rates.

Many insurance companies require a health exam before selling you a policy, which will provide the necessary information for rates adjusted based on health.

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What are Transamerica life insurance’s ratings?

One way to help you decide if Transamerica is the right life insurance company for you is to find out what the company’s customer satisfaction and complaint ratings look like. We know this may sound daunting, but not to worry. We did the work for you.

Transamerica has been around for over 100 years, and the company still has strong third-party ratings for financial strength and customer service. We’ve collected Transamerica rating information from the Better Business Bureau (BBB), A.M. Best, S&P, and Fitch, which are as follows:

• A.M. Best Rating:  A+
• S&P Rating:  AA+
• BBB: A-
• Fitch: A+
• Moodys: A1

In addition to financial and customer service ratings, we also looked at the complaint index for Transamerica. Take a look at this table to see what we found from the National Association of Insurance Commissioners (NAIC).

Transamerica Life Insurance Complaint Data

The NAIC calculates the complaint index, and an average number of complaints is represented by the number one. As you can see by the data in the table, Transamerica’s complaint index is consistently well below average.

The total number of complaints has steadily decreased over the past couple of years, which is a good sign for potential insureds.

What policies and coverages does the Transamerica life insurance company offer?

Transamerica offers policies to fit any lifestyle, including term, whole, and universal life. If you’re already insured, you can log on to your Transamerica life insurance provider portal to learn more. But we’ve also provided an overview of the policy types offered by Transamerica in the following sections. Keep reading.

Does Transamerica offer term life insurance?

A Transamerica term life policy can be offered in term lengths of 10, 15, 20, 25, and 30 years, during which your rates are guaranteed to remain the same. The minimum coverage amount is $25,000.

When you’re ready to find out what Transamerica term life insurance rates might be for you, a paramedical exam is not required to apply for a policy of between $25,000 and $99,999. A paramedical exam is required to apply for any policy of $100,000 or more.

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Does Transamerica offer whole life insurance?

Whole life insurance provides permanent protection for life as long as premiums are paid. In addition to a guaranteed cash value you can access through a loan, your loved ones are guaranteed to receive a death benefit. You won’t be able to obtain Transamerica life insurance quotes online for whole life insurance, as the company doesn’t offer them online.

Does Transamerica offer universal life insurance?

Universal life insurance provides an additional level of flexibility. It allows policy owners to modify the amount and frequency of premium payments as long as there is sufficient cash value in the policy to cover monthly deductions.

When the insured dies, a death benefit is left to the named beneficiaries. In addition to the death benefit, universal life insurance also contains a cash value. The cash value grows tax-deferred until funds are withdrawn.

Does Transamerica offer life insurance riders?

As with many other life insurance companies, Transamerica has riders that can be added to life insurance policies. These include:

• Accidental Death Benefit Rider – Available for an additional cost. Pays an additional death benefit if the Primary Insured dies as a result of an accidental bodily injury. Double the additional amount is payable if the accidental bodily injury occurs while the insured is a fare-paying passenger on a common carrier.
• Children’s Insurance Rider – Available for an additional cost. Provides insurance for all children of the insured. Each unit is equal to $1,000 of level term insurance, with a minimum coverage amount of $1,000 and a maximum of $20,000. The annual cost is $6 for each unit (e.g., $10,000 of coverage would cost $60 annually). Coverage on each child expires on their 25th birthday.
• Disability Waiver of Premium Rider – Available for an additional cost. In the event of total disability, before the policy anniversary nearest the insured’s age 60, and after the total disability has continued uninterrupted for a waiting period of no less than six months, premiums will be waived retroactively from the beginning of the disability. Premiums will continue to be waived for the duration of the total disability.

As we noted earlier, if you have a unique Transamerica login, you can learn more or view the Transamerica life insurance company beneficiary change form.

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What other life insurance products that Transamerica offer?

Wondering what a Transamerica trendsetter super 20 is? Transamerica also offers several of these Trendsetter Super policies. These Trendsetter Super policies are renewable and convertible term life insurance that provides a level death benefit, including:

• Trendsetter Super 10 – Term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.
• Trendsetter Super 15 – Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.
• Trendsetter Super 20 – Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.
• Trendsetter Super 25 – Term life insurance with level premiums during the initial 25-year period. Premiums increase annually in years 26 and later.
• Trendsetter Super 30 – Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.

Transamerica also offers some features you can benefit from; read on to find out more.

What life insurance features does Transamerica offer?

Is Transamerica the life insurance company for you? Potential benefits include living benefits life insurance. Think you’re ready for a Transamerica term life insurance quote? Take a look at some of the features of Transamerica’s term life insurance:

• Accelerated death benefit (ADB) – Included at no extra cost. The ADB endorsement is automatically included on Trendsetter Super products, with face amounts of $50,000 and above. This benefit provides up to 75 percent of the current death benefit to a maximum of $250,000 per life, with a minimum payment of $10,000. The execution of this option may be requested after the insured has been diagnosed and certified as having 12 months or fewer to live from the date of the physician’s statement. A physician must have made the diagnosis after the date the policy was issued.
• Conversion Option – Included at no extra cost. This option allows the policy owner to change the policy to a level face amount permanent life insurance plan made available by Transamerica Life Insurance Company at the time of the exchange. No underwriting will be required if the exchange is to a permanent policy with the same or lower face amount.

Keep reading for information on how to contact Transamerica, company history, and more.

How do you contact Transamerica life insurance?

Transamerica’s headquarters address is 4333 Edgewood Road, Cedar Rapids, IA 52499. However, the company offers coverage across the country and has offices nationwide, including in Plano, Texas.

Transamerica’s customer service phone number is 1-800-797-2643.  To fax important information, you can send it to the company’s fax number, which is 1-866-834-0437.

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What is Transamerica’s company history?

Founded in 1904, the Transamerica life insurance company is part of the AEGON Group, a multinational insurance organization headquartered in The Hague, The Netherlands. AEGON is one of the world’s leading life insurance and financial services organizations.

Does Transamerica offer health insurance? Transamerica offers supplemental health insurance products to its employees, but it does not offer health insurance products to insureds.

How do you cancel your Transamerica life insurance policy?

At some point, people may struggle financially, which companies like Transamerica know. As a result, the company makes it easy to cancel your life insurance policy. All you have to do is call Transamerica to get the cancellation process started.

How do you make a Transamerica life insurance claim?

Making a claim with Transamerica Life Insurance is an easy process. To file a claim, all you have to do is contact the Transamerica Life Insurance Company customer service department at 1-888-763-7474.

When you call, be prepared with relevant information like your policy number, exact details of your claim, etc., so you’re prepared when the insurance agent requests it.

You can also print the forms needed to file a claim and mail them to the Transamerica life insurance company claims address at 4333 Edgewood Rd NE, Cedar Rapids, IA 52499.

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What are the pros and cons of Transamerica life insurance?

Wondering if Transamerica is a good company? Concerned about your financial security? In addition to everything we’ve discussed so far, we’ve outlined some of the pros and cons to help you decide. Take a look.

Transamerica Life Insurance Policy Pros and Cons

If Transamerica sounds like the option for you, it doesn’t have to be difficult to find affordable Transamerica life insurance coverage.

Transamerica Life Insurance Review: What’s the bottom line?

Transamerica has been around for decades and is still a thriving company. It offers several affordable policy types and riders for both men and women and can be purchased across the U.S.

If you’re considering whether and how to buy Transamerica life insurance, you’ll likely need to reach out to the company directly. When you’re ready to shop, you’ll receive an initial Transamerica term life policy quote (or other forms of coverage) that will give you an idea of what you’ll pay.

If you decide that Transamerica coverage is right for you, your final rates will be referred to as a Transamerica final expense quote.

Understanding Transamerica Life Insurance

Transamerica casualty insurance company is a notable provider in the insurance industry, offering a range of policies to meet diverse needs. For customer inquiries or policy details, the Transamerica Life Insurance phone number is readily available, ensuring policyholders can access support when needed.

The Monumental Life Insurance phone number is another resource for clients who have transitioned from Monumental Life to Transamerica.

When considering an insurance provider, examining customer feedback and ratings is crucial. Transamerica reviews reflect varied experiences, highlighting the importance of personalized research.

The Transamerica Life Insurance rating provides an industry-standard measure of the company’s reliability and financial strength. For those seeking feedback on specific policies, Transamerica Premier Life Insurance company reviews offer insights into customer satisfaction and policy performance.

In terms of customer service, Transamerica Life Insurance customer service is dedicated to assisting policyholders with their needs, from general inquiries to detailed policy searches. For those looking to find specific policy information, the Transamerica Life Insurance policy search tool is an invaluable resource.

Overall, Transamerica Insurance company strives to provide comprehensive support and maintain a strong reputation within the industry.

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Exploring Transamerica Insurance: Policies, Comparisons, and Services

Transamerica Health Insurance offers a variety of coverage options designed to meet the diverse needs of its policyholders. Among its offerings, Transamerica Whole Life Insurance provides lifelong protection with the added benefit of cash value accumulation.

For those seeking specific coverage details or a new policy, obtaining a Transamerica quote is a straightforward process that helps individuals understand their options and costs.

When comparing insurance providers, understanding the differences between companies is essential. Transamerica vs. Primerica is a common comparison for those evaluating life insurance providers, as each company offers unique benefits and policies.

Monumental Life Insurance company, now part of Transamerica, continues to serve its policyholders with dedication. For those managing their policies, Transamerica Life Insurance payment options are flexible and accessible through various channels, ensuring timely and convenient premium payments.

Transamerica also addresses specific needs with products like Transamerica long-term care insurance and Transamerica living benefits, which provide additional financial support in times of need. Premier Transamerica policies offer premium services and benefits tailored to high-net-worth individuals.

For healthcare providers, the Transamerica provider portal is a vital resource for managing patient claims and interactions. Overall, Transamerica Insurance remains a comprehensive and reliable choice for a wide range of insurance needs.

Comparing Transamerica and Prudential: Reviews, Claims, and Financial Strength

When choosing between Prudential Life vs. Transamerica, it’s important to consider the unique benefits and offerings of each company. Monumental Life Insurance reviews often highlight the strong customer service and policy options available since its integration into Transamerica.

Additionally, Transamerica annuities review frequently mentions the flexibility and growth potential of their annuity products, making them a popular choice among retirement planners. In comparisons like AIG vs. Transamerica, both companies’ long histories and diverse product offerings are weighed by prospective policyholders.

Transamerica long-term care insurance provides comprehensive coverage for individuals who need extended care, offering peace of mind and financial protection. For those handling a loss, Transamerica Premier Life Insurance company death claim forms are accessible and designed to simplify the claims process.

The Transamerica final expense life insurance policy is tailored to cover end-of-life costs, ensuring that beneficiaries are not burdened with financial stress. Policyholders can find the Transamerica Life Insurance address on their official website for sending documents or correspondence related to their policies.

Filing a Transamerica Life Insurance death claim is a straightforward process that is supported by their efficient customer service team. Transamerica Financial Strength is consistently rated highly by industry experts, reflecting its ability to meet long-term obligations.

Policies such as Transamerica Life Insurance cash value are designed to offer financial flexibility by allowing policyholders to borrow against the accumulated value. The Transamerica fax number is available for quick submission of forms and documentation, ensuring timely processing.

Choosing life insurance with Transamerica means partnering with a company that values transparency and customer satisfaction. Their range of products and services is designed to meet the diverse needs of policyholders, from protecting against long-term care costs to ensuring final expenses are covered.

Transamerica’s commitment to financial strength and customer service excellence makes it a reliable choice for life insurance and annuity products.

Understanding Transamerica Life Insurance: Ratings, Complaints, and Policy Options

Transamerica Life Insurance complaints are an important factor to consider when evaluating the company. While some customers have expressed concerns, such as policy changes and billing issues, these complaints are relatively few compared to the positive reviews.

For current policyholders, Transamerica Life Insurance login provides easy access to manage policies, view documents, and make payments online. The Transamerica index universal life insurance offers a flexible, permanent life insurance solution with the potential for cash value growth based on market performance.

For those looking for additional coverage, Transamerica supplemental insurance can be a valuable addition to an existing life insurance policy.

The Transamerica Life Insurance company rating is a key indicator of the company’s financial stability and ability to pay out claims. Many potential customers ask, Is Transamerica Life Insurance legit? The answer is yes, with the company being well-regarded in the industry and holding high ratings from financial rating agencies.

Transamerica Life Insurance rates are competitive, with various factors influencing the cost, including age, health, and policy type.

It’s important to be aware of potential Transamerica cost of insurance increase over time, which can affect the overall affordability of a policy. However, the company’s transparency about these potential increases helps customers make informed decisions.

Despite some Transamerica complaints, the majority of policyholders report satisfaction with their coverage and customer service experiences. For those interested in learning more, obtaining a Transamerica Life Insurance quote online is a quick and convenient way to explore options and find a policy that fits individual needs.

Frequently Asked Questions: Transamerica Life Insurance Review

Do you still have questions about Transamerica life insurance? Read the following frequently asked questions for more on the company, its coverage, etc.

#1 – Does Transamerica offer health insurance?

Transamerica only offers health insurance to employees.

#2 – What is Transamerica Premier Life Insurance?

Transamerica Premier life insurance company (formerly Monumental Life Insurance) offers life insurance, annuities, accident and health, long-term care, and structured settlements, among other products.

#3 – Is Transamerica life insurance available in Plano, Texas?

Yes, Transamerica Life Insurance has an office in Plano, Texas; which is located at W Plano Pkwy, Plano, TX 75075

#4 – Does Transamerica have competition?

Yes. Transamerica’s competition includes other companies that sell life insurance, like Prudential, Aflac, MetLife, and others.

Now that you’ve read our Transamerica life insurance review, why not start shopping for coverage today? Use your ZIP code in our free quote tool to start comparing life insurance quotes from companies in your area today.