National Life Group vs Transamerica

Alice Stevens
Alice Stevens | 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 verified_user
#8 National Life Group
8.4 Overall Score
2.8
star star star star_border star_border
(32)
Transamerica logo
#10 Transamerica
8.0 Overall Score
3.5
star star star star_half star_border
(21)

Overview

National Life Group

Financial Strength

A (A.M. Best)

Term Policies

Yes

Whole Policies

Yes

Universal Policies

Yes

Final Expense Policies

Undisclosed

Time in Business

173 Years

Transamerica

A (A.M. Best)

Yes

Yes

Yes

Yes

117 Years

Ratings

National Life Group

Overall Score
8.4 of 10
Review Score
2.8
star star star star_border star_border
Value for Money
3.1
star star star star_border star_border
Quality of Product or Service
3.0
star star star star_border star_border
Company Trustworthiness
3.1
star star star star_border star_border
Likely to Recommend
4.7 of 10

Transamerica

8.0 of 10
3.5
star star star star_half star_border
3.6
star star star star_half star_border
3.5
star star star star_half star_border
3.4
star star star star_half star_border
5.8 of 10

Reviews

National Life Group

Number of Reviews
32
Review Breakdown
2.8
star star star star_border star_border
5 star
44%
4 star
0%
3 star
0%
2 star
3%
1 star
53%

Transamerica

21
3.5
star star star star_half star_border
5 star
43%
4 star
19%
3 star
10%
2 star
5%
1 star
24%

Reviews for National Life Group

Helpful Favorable Review

star star star star star

flynn joseph uy Marina del Rey, CA

This company is great! Lots of living benefits/riders (lots of qualifying events)/GILR/ etc.. There are reasons why this company has been around for more than 170 years! The financial ratings of the company are great! This is one of the insurance companies I would put my money in and even invest. We can't always blame the carrier and/or agents if client(s) have bad intentions. All I am saying is that investigate all angles and not to always pointing fingers to the insurance carrier.

3 weeks ago

Helpful Critical Review

star star_border star_border star_border star_border

Svetlana Daily Minneapolis, MN

This is the worst company ever. You are not able to pay on your insurance plan anymore and they steal your money in the first year you stop . Yes car insurance are a rip off, but this company is the worst ever. I would never recommend them to anyone.

1 month ago

Reviews for Transamerica

Helpful Favorable Review

check_circle

Review Source

star star star star star_border

Amrit Nandrey Brentwood, TN

I'm a customer of Transamerica insurance product. My agent has been able to explain me the details and answer all my queries pertaining to product and other services. I love my annual reviews with my advisor.

2 months ago

Helpful Critical Review

star star_border star_border star_border star_border

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!

7 months ago

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

National Life Group Logo
National Life Group

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