Ratings

Life best-life-company-ratings
Overall Rating info icon info icon
3.5 ratings
Customer Service
3.5 ratings
Value for Price
3.5 ratings
Website and Apps
3.5 ratings
% Who Would Recommend to a Friend
66%
AM Best Financial Strength Ratings info-icon info-icon July 01, 2021
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
( Transamerica’s customer complaint ratio for Individual Life insurance is 1.59 )
( Transamerica’s customer complaint ratio for Group Life insurance is 4.38 )
1.59
0 1 3 10+
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 Transamerica is available?

States in which Transamerica is 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.

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