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Transamerica Life Insurance Ratings

Ranked No. 5 Overall
Customer Satisfaction Ratings (based on 100 survey results)
ProductOverall
HOW WE WEIGH OUR SCORE
Customer ServiceValue for PriceWebsite and Apps% Who Would Recommend to a FriendA.M. Best
Financial
Strength
Ratings
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.

Life
87.82
out of 100
88
88
87
93%
A+
May 5, 2017
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Reasons for Buying from Transamerica

Customers of Transamerica originally decided to purchase from the company for these reasons:
Offered best price18%
Recommended by friend or family member17%
Reputation16%
Saw online ad15%
Financial Strength rating12%
Other7%
Was the company my parents had6%
Saw TV commercial4%
The company website and mobile apps are easy to use and helpful3%
I had other insurance with this company2%

How likely are you to recommend this company to a friend, coworker or family member?

I would definitely recommend this company. 50%
I probably would recommend this company. 43%
Neutral 7%
I probably would not recommend this company. 0%
I would not recommend this company. 0%

What kind of insurance do you have?

Term 48%
Whole 39%
Both 13%
Other - fill in 0%

How much do you pay annually for your life insurance policy

$501-$750 31%
$751-$1,000 20%
less than $250 18%
$251 - $500 15%
$1,001-$1,500 12%
More than $2,501 2%
$1,501-$2,000 1%
$2,001-$2,500 1%

Website and Apps

How easy to use and how helpful they are
44%Excellent - Gives me what I need and more
39%Good - Fulfills my needs
14%Never visited/used website or mobile app
3%Just okay - Fulfills some but not all of my needs
0%Unsatisfactory - Doesn?t fulfill my needs, website/app is severely lacking

How You Prefer to Deal with Insurers

35%Phone
21%Email
20%Interactive website
18%In person
6%Smartphone app

About Transamerica

Products offered:

  • Term life
  • Whole life
  • Universal life
  • Variable Universal life
  • Accidental Death
  • Final Expense 

Additional products offered:

  • Dental insurance
  • Long-term care
  • Medicare solutions
  • Mutual funds
  • Annuities
  • Retirement accounts

Best Life Insurance Companies 2018

In this year’s Best Life Insurance Survey, Transamerica claimed 5th spot with a score of 87.82. Transamerica topped the ranking for the new rating category for ease of use for website and apps and earned four stars.  Nearly all of the surveyed Transamerica policyholders, 93%, said they would recommend the company to others.

An American dream

Transamerica was founded in 1928 and was based in San Francisco. 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. 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 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 information

Corporate headquarters

Transamerica Pyramid
600 Montgomery Street
San Francisco, CA 94111
Policyholders and general questions: (800) 797-2643
New customers: (855)288-4181

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