Ratings
Overall Rating
AM Best Financial Strength Ratings
May 01, 2021
May 01, 2021HOW WE WEIGH OUR SCORE
- Price50%
- Customer service40%
- Website and app5%
- Recommend5%
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.
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Customer Complaint Ratio
( Transamerica’s customer complaint ratio for Individual Life insurance is 1.59 )
( Transamerica’s customer complaint ratio for Group Life insurance is 4.38 )
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
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?
| States in which Transamerica life insurance available |
|---|
| Alabama |
| Alaska |
| Arizona |
| Arkansas |
| California |
| Colorado |
| Connecticut |
| Delaware |
| Florida |
| Georgia |
| Hawaii |
| Idaho |
| Illinois |
| Indiana |
| Iowa |
| Kansas |
| Kentucky |
| Louisiana |
| Maine |
| Maryland |
| Massachusetts |
| Michigan |
| Minnesota |
| Mississippi |
| Missouri |
| Montana |
| Nebraska |
| Nevada |
| New Hampshire |
| New Jersey |
| New Mexico |
| New York |
| North Carolina |
| North Dakota |
| Ohio |
| Oklahoma |
| Oregon |
| Pennsylvania |
| Rhode Island |
| South Carolina |
| South Dakota |
| Tennessee |
| Texas |
| Utah |
| Vermont |
| Virginia |
| Washington |
| West Virginia |
| Wisconsin |
| Wyoming |
| Washington D.C. |
Our survey asked policyholders to share experiences or give feedback that they would like to share with others looking to potentially buy from their current insurance company. Here's what they had to say:
"The customer service was good and they got back to me quickly"
-Age 22, Georgia
"It has been very good"
-Age 22, Louisiana
"Every time I talk to them they are able to assist me with any questions that I have and they are very friendly and knowledgeable. However there have been multiple mix ups when it comes to my billing and I've had to call on several occasions to get it corrected"
-Age 23, Illinois
"Good service and prices"
-Age 26, North Carolina
"There an average company, with decent customer services"
-Age 28, Virginia
"It has ok pricing and service"
-Age 28, California
"It's something worth buying because it has great benefits and gives you safety"
-Age 30, New York
"Really good service."
-Age 30, Georgia
"My insurance company offers an IUL which can help you save for the long term as well as to help your family if you die young. That you have to do a brief interview and bloodwork. But they offer a good policy with good monthly rates & flexible payment options. And that offer options for keeping your account open without any payments if you end up in a coma."
-Age 32, California
"It's a good company."
-Age 32, Indiana
"Not a fan so far."
-Age 34, Florida
"Prices not great."
-Age 34, Florida
"It is a simple company and easy to do business with. they offer great and affordable plans"
-Age 35, Arizona
"My insurance company cares"
-Age 36, Tennessee
"My payment is automatic so I love that."
-Age 37, Oregon
"They will be happy, very good company they eplain everything, good customer service skills"
-Age 37, Pennsylvania
"I like the perks I get with my life policy."
-Age 37, California
"Good to go for me, but do research and make own choice"
-Age 38, New Mexico
"It was simple. Originally we didn't want to do an exam but it was a simple questionnaire and painless urine/blood sample. Prices were fantastic and was so easy to set up."
-Age 38, Wisconsin
"Good luck"
-Age 38, Illinois
"Just okay."
-Age 39, Alabama
"You are not a # you are a name. They will find what is right for you."
-Age 39, Florida
"Mine is fine"
-Age 39, Iowa
"Customer service is okay price sucks"
-Age 40, Virginia
"Very good quality company."
-Age 41, Wyoming
"They are second to none."
-Age 42, Florida
"Good life insurance company."
-Age 42, Maryland
"Good company I use them."
-Age 43, Massachusetts
"This company is relatively easy to work with."
-Age 44, Minnesota
"Get it early and do your homework"
-Age 44, Virginia
"Just average."
-Age 46, Texas
"They are customer-specific"
-Age 46, Iowa
"I'd tell them it was easy"
-Age 47, Virginia
"The price is good and so is billing."
-Age 47, Virginia
"It is ok."
-Age 47, Colorado
"Nothing specific I hate but don't love them either."
-Age 48, New Jersey
"Just okay."
-Age 48, California
"Good enough for me, try for yourself."
-Age 49, Tennessee
"It's just ok."
-Age 50, Washington
"Rates are low and they aren't raised frequently. Premiums are low."
-Age 50, Florida
"I have to tell them that my life insurance is a good thing to have."
-Age 51, Missouri
"I have always received timely responses to my questions. Price is average and policy terms are good."
-Age 53, South Carolina
"Don't really know to much about them"
-Age 54, Oregon
"It's better than nothing and betther than my work life company."
-Age 54, California
"They are a good company with great customer service."
-Age 55, Connecticut
"Very good customer service. Reputable company."
-Age 55, Florida
"They have been consistent with the coverage and rates and have never had a billing issue with them."
-Age 56, Oklahoma
"If you need to borrow from it you can. and after a period of time you don't have to make anymore payments"
-Age 56, Wisconsin
"Fair rates"
-Age 58, South Carolina
"They seem to be a good company but have never filed for a claim so I am not sure a bout some of the aspects of the company"
-Age 59, Texas
"Great company that provides excellent coverage"
-Age 59, Georgia
"Great policy and price. Friendly customer service"
-Age 59, Indiana
"Great company, try shopping with them."
-Age 60, New York
"Life insurance is confusing and this company is okay."
-Age 60, Iowa
"We get mailings from them periodically and billed annually"
-Age 61, Arizona
"I have the best insurance company there is."
-Age 62, Virginia
"I recomand my insurance because they have fair prices."
-Age 62, Georgia
"We have been. Wet pleased with our insurance company. Reasonable prices for great coverage."
-Age 62, Illinois
"It is a good investment."
-Age 63, Minnesota
"Better than average."
-Age 66, Ohio
"Excellent customer service and support"
-Age 66, Pennsylvania
"Excellent insurance options Low cost"
-Age 66, South Carolina
"Go for it with Transamerica!"
-Age 66, California
"Shop around. Buy at a young age."
-Age 67, Pennsylvania
"Positive personal experience"
-Age 67, California
"Straight forward process."
-Age 67, California
"Couldn't tell them a lot. Easy process."
-Age 67, Florida
"Good service."
-Age 67, Florida
"Very reputable company, diversification of products"
-Age 67, Florida
"I really have no opinion of them since we've had no interaction. Our original company sold out all of their policies to the current company. We were already paid up so have had no interaction with the company with the exception of annual statements and occasional generic mailings."
-Age 68, Arizona
"Haven't filed a claim yet, but expect wife will and I would have few problems if one of us dies"
-Age 69, Idaho
"My policy was easy to obtain and the monthly payments are afforable."
-Age 69, Michigan
"Check it out."
-Age 70, Nebraska
"Not a very good company but in too long to get much out of it."
-Age 70, New York
"I am satisfied but you better check for something cheaper and for whole life."
-Age 70, North Carolina
"Good company and good offerings."
-Age 71, Nebraska
"In over 30 years I've had no complaints other than increasing premiums"
-Age 71, Pennsylvania
"Make sure your company has up to date systems and can do business in the new millennium, and not do business like they did in the 1950's. Make sure they have a good app that makes it easy for you to do business. make sure they have a good customer service dept. check their ratings."
-Age 71, Texas
"Easy to contact and to get support"
-Age 71, Maryland
"Do your own research. I don't give any recommendations to people because then they want to blame you if something happens."
-Age 72, Alaska
"Try Transamerica and see what you think"
-Age 74, Florida
"I really can't say much about it. I just have a policy and never think about it."
-Age 77, Ohio
"Easy to deal with with great customer service"
-Age 80, California
"They are reliable."
-Age 83, Ohio
"I am satisfied with this company and think you would be too."
-Age 83, Arizona
"Shop around and try them out."
-Age 89, Kentucky
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