Transamerica Life Insurance Review 2020 - Important

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AT A GLANCE
  • ProInsuranceReviews standing: No. 20 life Insurance Provider.
  • Offers a vast selection of term and permanent life insurance.
  • Below-average client satisfaction evaluations.

Transamerica presents indicators universal, duration universal, and whole life insurance. Although its headquarters are in San Francisco, Transamerica employs the picture of the iconic Transamerica Pyramid because of its emblem of the city.

Look this The Best Life Insurance Company

Transamerica life insurance

Transamerica ranks No. 20 on ProInsuranceReviews's listing of the greatest life insurance businesses. ProInsuranceReviews ranks the nation's biggest life insurance companies based on customer complaints and financial strength, customer satisfaction.

Transamerica provides two forms of term life insurance coverages, with regards to 10, 25, 20, 15 and out there 30 years.

  • The Trendsetter Super coverage offers around $10 million in policy -- or more, based on individual conditions.
  • The Trendsetter LB provides around $2 million in policy and provides access to a number of the cash before departure if the insured individual is diagnosed with a chronic, terminal, or critical illness.

Life insurance policies of around $2 million can be found. Transamerica sells little life policies created to cover other expenses that are closing and funeral.

Variable and index life particulars are available by calling a broker. With indicator life, the cash value increase is tied to some market index, like the Standard & Poor's 500. Into the performance of investments, the policy's cash value increase is tied with variable life. The group universal life insurance of the company can be obtained only.

Transamerica customer satisfaction and complaints

To state regulators anticipated for a firm of its size, Transamerica has attracted complaints about three decades, based on the evaluation of information from the National Association of Insurance Commissioners of ProInsuranceReviews.

Transamerica scored at the lowest quarter of Organizations at J.D. Power's 2019 U.S. Life Insurance Study. The business was rated one of"the remainder" of businesses, the lowest score, for total customer satisfaction, and also five additional categories. It earned a score of"about average" for cost. Transamerica scored No. 20 from 24 life carriers evaluated by J.D. Power.

Customer satisfaction classTransamerica's score
Total satisfactionBelow typical
Billing and paymentBelow typical
CostAbout typical
Policy offeringsBelow typical
InteractionBelow typical
CommunicationBelow typical
Application procedureBelow typical

More about Transamerica

Transamerica presents added financial services and products, such as annuities, mutual funds, exchange-traded funds (ETFs), retirement planning, and workplace gains.

METHODOLOGY: INSURER COMPLAINTS

ProInsuranceReviews analyzed complaints reported on the National Association of Insurance Commissioners and received by state insurance companies. To evaluate how insurance companies compare to another, the NAIC computes a criticism index annually for every subsidiary, measuring its share of overall complaints relative to its dimensions, or share of total premiums from the business. To appraise the complaint history of a company, ProInsuranceReviews calculated that a similar indicator for every insurance company, measured by market shares of each subsidiary. Ratios are decided for home, automobile, and life insurance.

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