I have five policies with Transamerica which include two 30-year term life insurances and three Indexed Universal life policies. Transamerica offers whole life, term life, universal life, index universal, group universal and final expense life insurance. Whole life insurance typically ranges between $180 and $2,000 monthly. Working as a customer service representative can be so challenging. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. We’ll start sending you the news you need delivered straight to you. The overall rating of the company is 1.4 and consumers are mostly dissatisfied. The coverage limit for Transamerica's whole life insurance is $2 million. We value your privacy. I used the call back option all the time. Everytime I call they say it's processing and call back in a week, well it's going on on 4 months and still nothing. However, our site reviews are critical of Transamerica’s customer service, so if you are looking for life insurance, make sure to gather quotes from other companies as well. Transamerica also sells small whole life policies designed to cover funeral and other final expenses. For more information about reviews on ConsumerAffairs.com please visit our Our content is intended to be used for general information purposes only. Companies pay us to be accredited or when you click a link, call a number or fill a form on our site. Transamerica Premier in the most INCOMPETENT bunch of idiots have have ever dealt with!! The agent who wrote the policy came to the assisted living facility where my parents were due to my father's illness. What a horrible experience with this incompetent company. They scam seniors! Coverage for its term life insurance is up to $10 million, and permanent life insurance coverage is up to $2 million. All financial products, shopping products and services are presented without warranty. Get instant quotes for term life insurance. Both customer service and claims were very helpful and... my experience was amazing. It will be the end of November before the widow is paid. This is an independent Transamerica insurance review of the Transamerica Financial Foundation IUL (FFIUL) or Indexed Universal Life. After 25 years of paying Transamerica Life Insurance premiums for long term care, my wife was moved into an Alzheimer’s facility. Thank you, you have successfully subscribed to our newsletter! Up to the 90s, the company found succes… The Transamerica Administrative Office will be open from 8:30am – 3:00pm EST on Thursday, December 24th. Transamerica offers individual term, index universal, variable universal and whole life insurance. Both life insurance with living benefits and IULs are great products that I recommend for every one to have. Get your policies from NY Life or Genworth. It's looking like I'm going to have to get a lawyer. We filled out all paperwork in a timely manner. This company rocks! Most companies I call have reps that are already on the defensive because they have someone monitoring their time but they know that the customer needs that time to get a real resolution. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. I spoke with her supervisor after and expressed my gratitude for Janae's patience and kindness as well as her genuine care for my situation as well as her walking me through the website to get things handled. However, your cash value isn’t always on hand, and Transamerica charges you interest if you do borrow from your insurance policy. Bank of America eventually acquired and renamed the Occidental Life Insurance Company through its holding company, the Transamerica Corporation. She spent almost an hour with me answering all my questions. ~John. Enjoy reading our tips and recommendations. It earned a rating of “about average” for price. No problem..I received a letter stating there is no basic contract … How do I know I can trust these reviews about Transamerica? All Rights Reserved. I have never had a bad experience with this company. I sent them what they had asked for and was told it would be another 20 days before they can review the paperwork and then another 20 days before they can cut a check. We saw ratings of 9 out of 10 stars with one site rating Transamerica the “Best for Affordable Policies.” The company … Transamerica Premier Life Insurance Company. Transamerica scored in the bottom quarter of companies in J.D. Start here to maximize your rewards or minimize your interest rates. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. That means that 3 out of 100 people who have insurance bought it from Transamerica. However, this does not influence our evaluations. This is the second year Transamerica has been named on the Working Mothers award and first year for the Best companies for Dads. Indexed universal life is also a very good long term investment. His institution would later merge with a name we all recognize today, Bank of America. I submitted a death claim Oct 24. Sign up to receive our free weekly newsletter. Avoid at all costs! Don't get me started on the unscrupulous business practices of Mr. **, who should never be an insurance agent. Our opinions are our own. ConsumerAffairs is not a government agency. When evaluating offers, please review the financial institution’s Terms and Conditions. Stay away from them and spare yourself a lot of grief. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. ... Transamerica Financial Life Insurance Company, Harrison, NY (licensed in New York); and Transamerica Casualty Insurance Company… Transamerica term life insurance is available to anyone between 18 and 80 years old. If you read these online Transamerica insurance reviews… I had 250k term coverage with a different company and was able to double my coverage with the same premium...One of the best companies out there. When she was moved into a skilled nursing facility, she passed away after a month and they invoked the 60 day elimination period and paid nothing for the $70,000 charged to my wife in an 8 month period. I have tried now for several days to cancel our policy, which we did not want to begin with. Transamerica scored No. Transamerica Life Insurance Review Transamerica has a strong and stable financial position, with total assets of nearly $131,800,000 as of year-end 2016, and more than $1,055 billion of … This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Although its headquarters are no longer in San Francisco, Transamerica still uses the image of the city’s iconic Transamerica Pyramid for its logo. The company’s group universal life insurance is available only through employers. After at least a dozen or more phone calls for 3 months now nobody knows nothing and I still don't have my money. Unsubscribe easily. Transamerica is the Worst Company to deal with and worst customer service ever. If I could give them a negative five stars I would. Amadeo P. Giannini wanted to make financial advising and banking services affordable and accessible to everyone. 1,171 reviews from Transamerica employees about Transamerica culture, salaries, benefits, work-life balance, management, job security, and more. My father was in a wheelchair at the time. We want to hear from you and encourage a lively discussion among our users. Over three years, Transamerica has drawn more complaints to state regulators than expected for a company of its size, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners. A young entrepreneur with a heart to help the people who needed it most founded what was the Bank of Italy in 1904. Many or all of the products featured here are from our partners who compensate us. Learn more about the awards and Transamerica … Transamerica needs to be put out of business immediately.. And when working in a call center, that takes patience and can be scary if the call center is hounding for quick calls for their "good stats". Transamerica is not an accredited business with the Better Business Bureau (BBB). PO Box 5603***Do Not Mail. Whether you compare Transamerica life insurance vs. Transamerica premier or Transamerica life insurance vs. Amica Mutual reviews, it is clear that Transamerica lacks behind in providing quality customer service. Mr. ** wrote up the policy and submitted it to Transamerica. Transamerica offers term, whole and universal life insurance with coverage up to $10 million. It has been two weeks since we issued the surrender documentation and our money has not been transferred to our account as of yet. In 25 years they raised the premium at least 4 times to over double the initial fee, while reducing benefits. With index universal life, the cash value growth is tied to a market index, such as the Standard & Poor’s 500. 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