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Transamerica Life Insurance Ratings

X
Transamerica
A+
   Effective Date: November 20, 2015

In our survey, 27 percent of Transamerica’s customers say they chose the company based on reputation, and 34 percent say they made their decision based on price.  A high number of customers, 78 percent, said they would recommend the company to a friend.

100

Customer Satisfaction Ratings

(102 reviews)

 
Product
 
Overall
Claims
Processing
Customer
Service
Value
For Price
LIFE
86.2
N/A
% Who Would
Recommend to
a Friend
78%
% Who Plan
to Renew
N/A
Financial
Strength
Ratings

A+    November 20, 2015


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Reason for buying from Transamerica
Customers of Transamerica originally decided to purchase from the company for these reasons:
34%The insurer offered the best price.
27%The insurer's reputation.
18%The insurer was recommended by a friend.
8%Other reason.
7%Was the company their parents had.
6%Saw a commercial.
0%Had other insurance with this company.
Would you recommend this company?
  • already have
  • yes
  • not sure
  • probably not
  • no
  • 22%
  • 56%
  • 18%
  • 4%
  • 0%



About Transamerica

Transamerica life insurance received 4.5 stars for "value of price" and stars for customer service in our annual survey of best life insurance companies. The categories we looked at included customer service, value for price and overall customer satisfaction. Over 75 percent of Transamerica customers surveyed said they would recommend the life insurance provider to friends.

Background:

Transamerica was founded in 1928 and was based in San Francisco. It is now owned by Aegon, which is based in the Netherlands. The Transamerica’s iconic “Pyramid” building is San Francisco’s tallest building.

Transamerica began as the vision of a young entrepreneur named A.P. Giannini, who took the first step towards realizing his dream by starting a small business known as Bank of Italy (later to be known as Bank of America).

In 1930, Giannini acquired Occidental Life Insurance Company and its $25 million in assets.  With this purchase, Giannini created the foundation for what would be a strong and lasting company. 

On October 1st, 2008, as part of an internal restructuring, Transamerica Occidental Life Insurance Company merged into its affiliate, Transamerica Life Insurance Company.

Transamerica offers a wide variety of life insurance products and coverage options such as universal life, variable universal life, term life, survivorship life, and whole life.  Transamerica understands that one size does not fit all and, with that in mind, they work with policyholders to accomplish goals such as insuring their family during working years, accumulating cash value, or protecting them from future medical and estate taxes.

Contact Transamerica at:

Transamerica Pyramid
600 Montgomery Street
San Francisco, CA 94111
Telephone: (800) 797-2643

Sources:  Transamerica Contact Information, TA web site, 2009; Transamerica page, Wikipedia.com, 2009; Product Information, TA web site, 2009.