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LAST UPDATED: September 28th, 2022

Transamerica is a dependable life insurance company. Whether you're looking for temporary or permanent coverage, Transamerica has a competitive offering.

The insurer stands out from others by offering life insurance coverage in the United States for foreign nationals.

Although current Transamerica Life Insurance reviews on are limited, the company has received a high proportion of positive customer reviews.

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Customer Review: Aidan Keogh from Ogden, Utah

"I was able to get a large insurance policy through Transamerica even though my health was not perfect. The price was quite reasonable."

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In addition to competitive life insurance products, Transamerica's financial advisors offer assistance with investments, mutual funds, annuities, and retirement plans.

Since Transamerica's founding in 1904, it has grown to become a reliable insurer and financial services provider.


The Good

  • Postive Customer Reviews
  • High Financial Strength Ratings
  • Variety of Life Policies for Individuals and Families
  • Life Insurance for Foreign Nationals
  • Employer-Sponsored Life Insurance Products
  • Helpful Website

Positive Customer Reviews

Transamerica has received a majority of positive reviews on Best Company. Reviewers mention satisfaction with customer service and policy selection. Reviewers also mention satisfaction with their life insurance rate, especially with health concerns. 

High Financial Strength Ratings

Transamerica's life insurance policies are underwritten by a few subsidiaries. Which subsidiary underwrites a policy varies based on your state. Luckily, all of Transamerica's subsidiary insurance companies have received high financial strength ratings.

Financial strength is important to consider when choosing a life insurance company. These ratings indicate a company's financial stability and ability to meet claims obligations.

Variety of Life Policies for Individuals and Families

Transamerica offers term, whole, and several types of universal life insurance policies. Whatever kind of policy you're looking for, you can find good options from Transamerica.

Transamerica's term life insurance policies are available for 10, 15, 20, 25, or 30 year term lengths. The death benefit amount typically ranges between $25,000 and $10,000,000. Medical exams are part of the underwriting process. It can be waived under certain circumstances for age and coverage amount limits.

Transamerica offers two options: Trendsetter ® Super Series and Trendsetter ® LB. The Trendsetter ® Super Series offers  a consistent coverage level  throughout the term. Policyholders may also be able to convert their term policy into a permanent one without an additional medical exam. 

The Trendsetter ® LB policy offers up to $2 million in coverage and an accelerated death benefit for chronic, critical, or terminal illnesses as defined in the policy. An accelerated death benefit is an example of a living benefit.

Transamerica's permanent life insurance options include whole life, indexed universal life, and final expense insurance. These policies offer permanent coverage as long as each premium payment is met and the policy doesn't lapse.

Whole life insurance offers level premiums, a guaranteed death benefit amount, and cash value accrual at guaranteed interest rates. You can borrow against the cash value of the policy while living. Keep in mind that whole life policies are the most expensive kind of life insurance. Transamerica offers coverage amounts of $25,000 to $2,000,000 with its whole life insurance.

Universal life insurance is another kind of permanent life insurance. It offers more flexibility with premium payments and investing the cash value to grow it. Universal life insurance is cheaper than whole life insurance because you assume more of the risk.

Transamerica offers an indexed universal policy: Transamerica Financial Foundation IUL®. This policy has three investment options: a basic interest account and two indexes. Each account has guaranteed interest floors. The policy also includes a no-lapse guarantee period. The period length varies based on your age when you bought the policy. Some policy features may vary by state.

You can also customize and protect your policy by adding riders. Rider availability varies by state. Riders include separate accelerated death benefit riders for chronic, terminal, and critical illnesses, a children's benefit rider, and separate disability waivers for monthly deductions and premiums.

Transamerica offers three final expense insurance policies: Immediate Solution, 10-Pay Solution, and Easy Solution. All policies offer some level of immediate coverage, including immediate full coverage. These policies also have level premiums. The limiting factor of these policies is the amount of coverage you can buy. Since these policies are meant to cover final expenses, the coverage maximums are lower. The coverage maximum varies based on the policy you choose and the age of the insured when you enroll.

These final expense life insurance policies can also be customized with riders. Some riders are only available with certain policies or in certain states. Available riders include an accelerated death benefit with a nursing home benefit, an accidental death rider, and a children's and grandchildren's rider that allows you to buy up to $5,000 of term life insurance coverage for up to nine children or grandchildren.

If you're looking for burial insurance, consider a final expense product from Transamerica.

Life Insurance for Foreign Nationals 

Transamerica stands out from other insurers for offering policies to foreign nationals in the United States. Financial professionals can help their clients navigate the application and purchase process.

If you visit the United States regularly, own property, or do business in the United States, one of these policies from Transamerica could be a good fit and help pay estate taxes. Transamerica offers term, whole, and indexed universal life insurance options. Work with your financial adviser and Transamerica directly to learn more information about your options and determine if a life insurance policy is a good fit for you.

Employer-Sponsored Life Insurance Products

Employers interested in adding life insurance to their employee benefit package can find good life insurance options through Transamerica:

  • Voluntary Group Whole Life ($25,000 in coverage after answering health questions)
  • Group Universal Life 
  • Term Life

Transamerica also offers other products to boost your benefits package, including disability and dental insurance.

Helpful Website

Transamerica's website is well-organized. If you're an individual buying life insurance, a financial professional looking at options for clients, or an employer building a benefits package, you can easily find the section dedicated to your needs.

It's also easy to connect with one of Transamerica's insurance agents over the phone or in-person from the website.

An easy-to-use website shows dedication to customers. You can find good information about life insurance products and their features. Everything is straightforward and user-friendly.

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The Bad

  • Insufficient Customer Insight
  • Limited Online Information
  • No Variable Universal Life Insurance

Insufficient Customer Insight

Best Company has not received enough Transamerica life insurance reviews to draw conclusions about the customer experience. However, it is promising that a majority of Transamerica's reviews are positive.

Limited Online Information

Transamerica has some useful information on its website about the kinds of insurance they offer. However, it would be nice to have more information on what riders are available with term policies and more details on its whole life insurance policy features and rider options.

No Variable Universal Life Insurance

Transamerica does not list a variable universal life insurance policy in its coverage options. If that's the kind of universal life insurance you want, you'll need to find another insurance provider.


The Bottom Line

Transamerica is a trustworthy life insurance carrier and has earned high financial strength ratings. It also offers a wide selection of life insurance policies: term life, whole life, indexed universal life, and final expense insurance. With such a range of policies, it's easy to find an insurance product that meets your needs. Transamerica also offers good rider options with its final expense and indexed universal policies.

Transamerica is also a great company to work with if you're a foreign national in the United States looking for life insurance, especially to help pay estate taxes.

While Transamerica offers excellent information on many of its policies online, it could offer more information on its term and whole life insurance. Fortunately, Transamerica makes it easy to connect with an agent over the phone or in-person so you can ask more questions.

If you're looking for life insurance coverage, Transamerica is worth investigating further.

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30 Reviews

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Lesa Tenney North Bergen, NJ

My husband has had this insurance for years. All the sudden we stop getting our invoices and his money that was built up was gone. Every number we have called the person said I really can't help you with that but they can't give us a number or name for that matter to talk to. They can send us cancellation notices but not the policy priemium to make the payment I have tried and tried. I guess we are not the only ones I keep hearing more and more bad about this company so Please beware.

2 months ago

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That1Family Friendswood, TX

Anytime I need to do a withdraw they give me problems. I always have to fax them paperwork multiple times because they “ don’t receive it”. I’m pulling all my investments out and moving to a more reliable company.

2 months ago

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Kimberly Hopkins Nashville, TN

My brother and I have been dealing with Transamerica since my mother's death. She had a whole life policy. The customer service is awful. You will be on hold for hours to find out the status of your claim. The claim reps are rude and will give conflicting info.- after 3 months, they said they received the required medical information for my mother to process the claim, after 4 months, we called back and they said they have not received any medical information. They are very nice when you buy the life insurance but it is a different story when you try to claim the death benefit and if you are in a contestability period, you can say goodbye to your life insurance money. They will find an excuse to not pay the death benefit.

9 months ago

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Mike Bonnett Radcliff, KY

My father and my mother had different policies under a company under Trans America. We knew about our father's policy. They never paid a dime even as he died in an accident. I suggest people do a general search and not trust this site. We never knew about our mother's policy until the state I lived in notified me of unclaimed money they had sent to them 4 years after my mother's death. When I checked it for for returned life insurance premiums. As I type this I am on hold with Transamerica who after a month of trying to get information has finally admitted she had a policy but would not tell me what type and sent me to another department who name they would not tell me. I recorded all of this and am likely to create a web site with the recording and the whole disgusting story. I just hit the 43 minute mark on the hold. I will let it go to 4 hours and add the recording to the collection. DO NOT TRUST this company...

2 months ago

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M Banks , MN

We received notification thru mail that our old JC Penny Life Policies would be transferred to Transamerica. The information from the transfer form was incorrect. I tried to contact JC Penny Life which is now Transamerica via phone waiting over 2 hours only to be disconnected. Contracted them 2 times via email in which they promise to respond by 3 business days. No response. It is now over 34 days later since I received notification. This is the worst company ever! I can only imagine the people who actually need to make a claim. I am just trying to correct the policy information before it gets cancelled! Mark M. you need to do better with your customer service, Sir!

1 year ago

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Craig Slist Oak Harbor, WA

What is up with Transamerica Opt-Out? I received a letter from Transamerica titled "Notice of Privacy Practices of Transamerica Companies" that listed an Opt-Out option by visiting their website but when I go to the website I get a "Please review the following errors" message with no errors listed? The letter also states I can call the Opt-Out phone number but when I call and enter my Reference Number it transfers me to a call center. The call center only has 3 options to choose from and none of them are for Opting Out. I finally get someone to answer, tell them I want to opt-out and get transferred to another automated system with a couple new options but none of them are Opt-out. So I sit on the phone and get a message I'm being transferred to customer service. Of course the next message is they are experiencing higher then normal call volumes? How can it be higher then normal call volumes if it's that response every time you call them? When does this become normally expected call volumes. Anyway, I get a "Call Back" option for them to call me back when it's my turn to speak to a customer service rep. I finally get a call back and it's yet another automated system asking if it's me, am I ready to talk to a representative and then I'm placed back on hold with a message that a representative will be with me shortly? I thought the whole call back process said I would be called when it was my turn and a representative would be ready? After 3-4 minutes I finally get a representative on the phone, I explain all the problems I'm having with opting out only to be told by the operator there is no need to opt out and that was just a generic letter Transamerica sends out? The letter specifically states I have to opt out either online or by calling? Is there a way to find out if Transamerica releases my information from this day forward? Is there legal recourse if I find out my information is released?

1 year ago

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Sara Nelson Kennewick, WA

DO NOT purchase life insurance from this company. We made automatic payments to this company for 11 years without a problem. When we changed banks, somehow the autopayment didn't get changed. NO ONE—not the agent or the company let us know there was a problem!! When we were reconciling our accounts we realized there was a problem and contacted Transamerica... The agent we bought it through was no longer listed as our agent. The new agent had never heard of us. And the folks at Transamerica were somewhere completely unhelpful. They had us resubmit paperwork three times. The first time they lost it. The second time because I'd signed in the wrong place. They had us send in the missed payments. Then returned them when they found out that my husband had some health issues. They made my husband reapply and then denied him coverage. AFTER 11 YEARS OF TAKING OUR MONEY! FIND ANOTHER COMPANY!!! These guys are incompetent and not very ethical.

2 years ago

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George Symsonia, KY

I cannot begin to express how disgusting and utterly pathetic this company is and how bad the experience was when dealing with company. I simply wanted to cash in a policy. It has taken over two months, and I have still not received the check. I have made more than ten calls to them, enduring their terrible phone answering service, included eight faxes, 6 of which are "lost" by them, and one email. When speaking with their issues resolution department, even they acknowledge that they have a terrible operating/management system, and continually receive similar complaints from their customers, but they continue business as usual. You have been warned! Stay away from this company!

3 years ago

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Ed B Rumson, NJ

We had 2 life insurance policies with Transamerica since 9/30/08 through an agent. As we were approaching the end of the 10 year term period we had several discussions with the agent that we wanted to terminate policy at 9/30/18 as premium was due to increase 8-10 fold. One policy was due to increase from $168 to $1,276 and the other from $38 to $460 per month. There would be no reason to pay those premiums unless you were terminally ill and uninsurable or lost your mind. I instructed him that upon expiration we would search for best alternatives. There was no rush as we had other coverage from other carriers. Transamerica indicated since we had pre-authorized withdrawals and agent did not provide the required surrender form to terminate we were ripped off for 4 months to tune of $6,700+ until I caught this. If we did not have pre-authorized withdrawal this would have been avoided. This is very shady practice. Transamerica has refused to return our money. This is total BS. Since we are novices in life insurance space and Transamerica and agent are the professional who should have provided documentation to close out at term expiration. This company has acted irresponsibly and failed to act in a prudent manner. I would AVOID TRANSAMERICA at all costs. The are deceitful, dismissive and just plain do not care. There lack of customer service is appalling.

3 years ago

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Disgusted Kingston, PA

Impossible to talk to a human. I've been trying for 3 days. This Company sucks! Phone wait times are over 8 Hrs. YES! That's 8 Hrs. and the contact by web site doesn't work. My advice is to steer clear of this company! I can't imagine trying to file a claim. It wont happen!

1 year ago

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Gary Blankenbeckler Castlewood, VA

Worst Insurance Company I’ve seen. My mother in law died almost 2 years ago. Her insurance has not paid a Penny. Still waiting!

10 months ago