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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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Mike D Washington, DC

Transamerica made a situation filled with grief even more difficult when my father passed. He and my mother were listed on the same policy and it was hard to get them to take action as my mother was still living. Eventually it did get resolved and the policy was corrected and they did pay my father’s portion of the life insurance, but it shouldn’t have been so hard.

1 year ago


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Michael Lindert Crawfordville, FL

Bought our old policy and receive no contact nor follow-up. Hard to get information.

2 years ago