1. National Life Group vs Transamerica

National Life Group vs Transamerica

National Life Group and Transamerica are both reliable insurers. The biggest difference between the two companies are their life insurance offerings. Both offer whole, universal, indexed universal, and term life insurance. National Life Group also offers variable universal life insurance. Transamerica offers final expense insurance. If you're considering National Life Group, you should be aware that it is undergoing a class action lawsuit for alleged involvement in a pyramid scheme with Premier Financial Group.

National Life Group logo verified_user
#9 National Life Group
7.3 Overall Score
2.8
starstarstar_halfstar_borderstar_border
(19)
Transamerica logo
#8 Transamerica
7.5 Overall Score
3.7
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(15)

Overview

National Life Group

Transamerica

Monthly Premium
Monthly Premium
Undisclosed
$29.24*
Policy Types
Policy Types
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Term
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Whole
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Universal
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Variable
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Term
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Whole
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Variable
Coverage
Coverage
50 states
50 states
Time In Business
Time In Business
172 Years
116 Years

Ratings

National Life Group

Transamerica

Overall Score
Overall Score
7.3 of 10
7.5 of 10
Review Score
Review Score
2.8
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3.7
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Value for Money
Value for Money
2.9
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3.8
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Quality of Product or Service
Quality of Product or Service
2.9
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3.8
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Customer Service
Customer Service
2.7
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3.6
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Company Trustworthiness
Company Trustworthiness
2.8
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3.7
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Likely to Recommend
Likely to Recommend
4.3 of 10
6.3 of 10

Reviews

National Life Group

Transamerica

Number of Reviews
Number of Reviews
19
15
Review Breakdown
Review Breakdown
2.8
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5 star
42%
4 star
0%
3 star
0%
2 star
5%
1 star
53%
3.7
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5 star
47%
4 star
20%
3 star
7%
2 star
7%
1 star
20%

Reviews for National Life Group

Helpful Favorable Review

starstarstarstarstar

Karol

August 3rd, 2020 Virginia Beach, VA DETAILS arrow_drop_down
Value for your money
starstarstarstarstar
Quality of product or service
starstarstarstarstar
Customer service
starstarstarstarstar
Company trustworthiness
starstarstarstarstar

They have been the best life insurance company that I've ever dealt with (and I've dealt with 4 others throughout my life). Their living benefits are amazing and I actually have had friends who've had to utilize them throughout their life. I asked about the alleged "class action law suit" and this is inaccurate information. It's the internet, so it must be true, not exactly. After getting the facts I'm was 100% comfortable going with this company and sleep easy knowing I'm protected should I need it for a critical, chronic or terminal illness or of course upon death.


Helpful Critical Review

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Inthemedicalprofession

August 3rd, 2020

We just got a medical records request from Tweedy Claims on behalf of National Life. Now why would a life insurance company want to see a bunch of medical records on someone who has died? She's dead. Pay her husband her life insurance. Plus the deceased was never a patient at our clinic. So it looks like they are just throwing out a wide net, fishing to see if they can find anything medical that would disqualify the patient for life insurance after her death. Wow. So sketchy.


Reviews for Transamerica

Helpful Favorable Review

starstarstarstarstar

Connor

August 3rd, 2020 Farmington, UT DETAILS arrow_drop_down
Value for your money
starstarstarstarstar
Quality of product or service
starstarstarstarstar
Customer service
starstarstarstarstar
Company trustworthiness
starstarstarstarstar

So far Transamerica has been transparent, helpful, and a great deal for life insurance. I'm extremely happy I chose Transamerica as my life insurance especially because of their great plan options and ease of problem solving and troubleshooting with.


Helpful Critical Review

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Sara Nelson

August 3rd, 2020 Kennewick, WA DETAILS arrow_drop_down
Value for your money
starstar_borderstar_borderstar_borderstar_border
Quality of product or service
starstar_borderstar_borderstar_borderstar_border
Customer service
starstar_borderstar_borderstar_borderstar_border
Company trustworthiness
starstar_borderstar_borderstar_borderstar_border

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.


The Final Word

National Life Group has earned high financial strength ratings and has stood the test of time, which indicate the insurer's financial stability and ability to meet its claims obligations. It has a nice selection of insurance policies. If you're looking for permanent or term life insurance, you can find good options from National Life Group.

National Life Group also offers an accelerated death benefit, which allows you to receive part of the death benefit early if you have a qualifying terminal illness, chronic illness, or critical injury.

Before you buy a policy from National Life Group, be aware that it's undergoing a class action lawsuit because its life insurance policies were allegedly being sold as part of a pyramid scheme by Premier Financial Group.

Similar to National Life Group, Transamerica has stood the test of time and earned high financial strength ratings. You can be as confident that Transamerica will meet its claims obligations as in National Life Group. 

Transamerica also offers the same kind of policies as National Life Group. The only difference is that Transamerica does not offer variable life insurance and does offer final expense insurance. Final expense insurance is a kind of permanent life insurance that offers a smaller amount of coverage designed to help pay for funeral and other final expenses. If final expense insurance meets your life insurance needs, it's worth learning more about Transamerica's final expense policies.

Transamerica's website offers limited information on riders available with its policies. For more information, you'll need to work with Transamerica directly.

Both Transamerica and National Life Group are good options to consider when choosing a life insurer. If you're interested in a variable universal life policy, you'll want to learn more about National Life Group. If a final expense policy is a good fit, Transamerica is a good option. If you're considering purchasing life insurance from National Life Group, learn more about its class action lawsuit.

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