Ratings

Life best-life-company-ratings
Overall Rating info icon info icon
Customer Service
Value for Price
Website and Apps
% Who Would Recommend to a Friend
66%
AM Best Financial Strength Ratings info-icon info-icon November 08, 2020
A
HOW WE WEIGH OUR SCORE
WHAT IS THIS RATING?

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best's rating is NOT used to calculate the overall score but it is important information to consider when choosing an insurance company.

Reasons for Buying

Customers of Transamerica originally decided to purchase from the company for these reasons:
30%
Recommended by friend or family member
16%
Offered best price
14%
Reputation
8%
Financial strength rating
5%
Saw online ad
4%
Was the company my parents had
3%
Saw TV commercial
2%
I had other insurance with this company
2%
The company website and mobile apps are easy to use and helpful

What kind of life insurance do you have?

Permanent, including whole life
Term
Both
Other

How much do you pay annually for your life insurance policy (per person if have more than one life policy in your household)

Less than $250
27%
$250 - $499
14%
$500 - $749
14%
$1,000 - $1,249
10%
$750 - $999
9%
$1,250 - $1,499
7%
$2,000 - $2,249
4%
$4,000 or more
4%
$1,750 - $1,999
3%
$2,250 - $2,499
3%
$2,750 - $2,999
2%
$3,500 - $3,999
2%
$1,500 - $1,749
1%
life
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Customer Complaint Ratio

info icon
Individual Life
1.59
0 1 3 10+
Group Life
4.38
0 1 3 10+
Lower number is better
0 to 1.00
1.01 to 3.00
3.01 and above

Best life insurance companies 2021: Transamerica

Building a better tomorrow. Together.

How Transamerica life insurance stacks up

Transamerica (Aegon) earned a 3.5 out of 5-star rating in our annual review of Best Life Insurance Companies. They earned 3.5 out of 5-star ratings across the board in price, customer service and website & apps.

When we asked Transamerica customers if they would recommend the company to others, 66% said yes.

How likely to recommend?

34%
I would definitely recommend this company
32%
I would probably recommend this company
28%
Neutral
3%
I would not recommend this company
3%
I would probably not recommend this company

Ratings on Website & Apps

Completely satisfied / Outstanding website & apps that give me what I need and more
38%
Fairly satisfied / Fulfills my needs OK
25%
Average website and apps
22%
Very unsatisfied / digital offering is severely lacking
8%
Unsatisfied / website and/or apps are not fulfilling my needs
4%

How do you prefer to deal with insurer and policy?

Phone
39%
In person
26%
Email
19%
Interactive website
13%
Mobile App
3%

Transamerica life insurance coverages

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Indexed universal life insurance
  • Final expense life insurance
  • Long-term care insurance

About Transamerica

Transamerica was built on the idea that financial security should be available to everyone. The company can trace its roots back to 1904 when Amadeo Giannini founded the Bank of Italy in San Francisco and gave residents loans to rebuild after the devastating 1906 earthquake and fire.

In 1928, he consolidated his bank into what would become Bank of America, and two years later acquired the Occidental Life Insurance Company through a newly created holding company, Transamerica Corporation. When the Bank Holding Company Act of 1956 made companies choose to divest its banks or its non-bank investments, Transamerica chose insurance. The company moved its headquarters into the iconic Transamerica Pyramid building when construction was completed in 1972.

In 1999, Transamerica became part of Aegon, N.V, a Dutch multinational life insurance and financial services firm, which serves more than 13 million customers in the U.S.

Contact Transamerica

Corporate Headquarters

Transamerica Pyramid

600 Montgomery Street

San Francisco, CA 94111

Policyholders and general questions: (800) 797-2643

New customers: (855)288-4181

In which states is Transamerica life insurance available?

AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

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