National Life Group vs Transamerica

McCall Martin
McCall Martin | Senior Editor

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
#16 National Life Group
5.2 Overall Score
2.6
star star star_half star_border star_border
(48)
Transamerica logo
#13 Transamerica
5.5 Overall Score
3.1
star star star star_border star_border
(30)

Overview

National Life Group

A.M. Best Financial Strength Rating

N/A

Policy Types

N/A

Type of Underwriting Offered

N/A

Purchase Process

N/A

Time in Business

Undisclosed

Transamerica

N/A

N/A

N/A

N/A

Undisclosed

Ratings

National Life Group

Overall Score
5.2 of 10
Review Score
2.6
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Value for Money
2.9
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Quality of Product or Service
2.8
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Company Trustworthiness
2.8
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Likely to Recommend
4.2 of 10

Transamerica

5.5 of 10
3.1
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3.1
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3.0
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2.9
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4.7 of 10

Reviews

National Life Group

Number of Reviews
48
Review Breakdown
2.6
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1 star
58%
2 star
2%
3 star
0%
4 star
0%
5 star
40%

Transamerica

30
3.1
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1 star
37%
2 star
7%
3 star
7%
4 star
13%
5 star
37%

Reviews for National Life Group

Helpful Favorable Review

star star star star star

Benita Valle

June 1st, 2022

DETAILS

So far NLG is the best company with the best products for the right clients in USA. My husband, my younger sister and my colleague in nursing are all living testimony of the Living Benefits. They all received TAX- FREE money from the company when they got diagnosed of cancer of different organs. The money received to take care of their financial obligations while recovering is the best financial blessing in their lifetime! The monetary benefit mitigated the stress one suffers from when critically ill. It was divinely therapeutic. We thank God for National Life Group!

Helpful Critical Review

star star_border star_border star_border star_border

Melissa Peth

January 23rd, 2023

DETAILS

Besides the fact they have extensive hidden fees, when I attempted to transfer my money to a more prudent account, I could not get ahold of my agent. I called and emailed him for weeks with no response. Emailed the customer service line, no response. Currently have been on hold for 15 minutes and unsure if I will ever speak with someone. Is this even a real company?

Reviews for Transamerica

Helpful Favorable Review

star star star star star

Samarra Miller

December 30th, 2021

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Review Source

I kept getting a letter in the mail about this company I decided to reach out to them to see how their rates were the young lady that I spoke with on the phone she didn't know that the answers I was asking however she went out her way to find the answers for me I can say they do have great customer service TransAmerica

Helpful Critical Review

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That1Family

September 28th, 2022

DETAILS

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.

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.

Top Choice

Transamerica Logo
Transamerica

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