Transamerica Life Insurance Reviews

DO NOT USE THIS COMPANY!!!! AVOID at all cost. I was terminated back on 3/21/2026 from my employer. I have called multiple times to withdraw my money and NOBODY at this company is competent enough to do their job. They are illegally holding my money and are saying that I still work at a job I haven't been at in almost 5 months. My old colleagues are experiencing the exact same thing. Numerous calls- supervisors, emails- nothing has been done- JUST EXCUSES. I will hire a lawyer if that what it takes- the company is a fraudulent as it comes!!! TAKE YOUR MONEY ELSEWHERE- TERRIBLE COMPANY with illegal practices!!!!

This is the absolute worst company I've ever had to deal with. My father bought a simple $1,000.00 policy when each of his children, myself included. He passed away in 1985. Papers were sent to change in to my mother's name. When she passed away in 2000, the paperwork was sent again, and the policy was to be updated to be put in to my name.

My wife and I had a term life insurance policy with Transamerica. One month before the policy was scheduled to end, Transamerica charged us a substantially higher renewal premium without adequately explaining the increase. For the past five weeks, we have repeatedly contacted customer service seeking a refund. Each representative or supervisor has given us a different explanation for why the money has not been returned. The process has been frustrating, inconsistent, and unresolved. We are especially disappointed by the lack of empathy, accountability, and clear communication from the customer service team. Based on this experience, we will not consider Transamerica for life insurance again and cannot recommend the company to others.

SCAMMERS! I NEVER even got to use the thing cuz they were messing up from the beginning!! Was supposed to be $18 But was charging me over $65!! Once I realized it after 3 MONTHS I disputed it with my bank 🏦 but they LIED & found a way to not have to pay one of the months back!!..I tried to communicate with the boy Jarod that came to my door & got me to sign up in the 1ST place for help, but after awhile he disappeared too!!..SCAMMERS!!..DON'T EVER CHOOSE THEM!!

My parents have been paying on their policy for over 30 years and today they received a check for $200. My dad called them immediately to find out why they received a check. They stated they had sent them a notice that their premiums were going up, but they have not received any notice. This is total CRAP! We will be speaking to an attorney! My dad is 82 and mom is 75! This company should be ashamed of what they are doing to people that trusted them! How do you sleep at night! These people are the reason you have a business in the first place!

Concerning Transamerica Life Insurance extremely poor customer service.

In my research, Transamerica came as one of the top providers of insurance for US expats living abroad. They absolutely had no options for any riders in a grade A country. I don't recommend this company to anybody. I don’t think they did a good job

Horrible. I was trying to cancel stupid policy, after 6 years, and they said that all I can get back is $366 while my investment was almost $7000. They said to get my money back need to wait 15 years and continue investing monthly and the minimum is $71 so I either lose my $7000 or continue investing for the next 9 years. Insane. I wish I had never sign up for it.

You recently announced my extended care rate increases of 25,58,100 % to my current premium for the next 3 years respectively. Included were alternatives to reduce costs. I called your help number. The representative confirmed the benefit Reduction/Cost sharing plan would result in a premium of 7468.41 compared to the increased premium of 7468.40 and would result in a benefit reduction of 30 %. The text claims I would avoid this premium entirely if I selected this option. I am surprised the Transamerica has sent out this confusing package, nor did the representative I talked to had ny working knowledge. I was advised that he would need to forward this to the "rates team" but he was not capable of transferring me. You need to clarify clearly what the alternative are and the impact on premium costs for the next three years. I am surprised at the lack of professionalism in rolling out this info.

Poor company to deal with. I need to cash out policies for my parents. I’m POA. I’ve spent over 12 hours on the phone with TransAmerica and filed the forms required and faxed them 4 times to cash the policies as required to apply for both parents to get Medicaid. They had 7 policies which were active (confirmed through TransAmerica). In 2 and 1/2 months I’ve been speaking to customer service reps who barely speak recognizable English. They take my number, promising to call me back immediately if disconnected. Then they simply disappear from the line…not on hold but an open, muted line. They leave me that way for over an hour. They never come back on the line and never call me back. I’ve spent over 12 hours on the phone, much of the time holding for no response. When on the phone, the reps are polite but useless. They can’t answer questions. They can’t access the accounts.

Transamerica bought my life policy from JC Penney without my permission or knowledge. It has been a nightmare. They have locked me out of my 2 policies. I try to pay on-line but I can't get into my account. They won't send me an invoice to pay until it's late. If I didn't have so much money invested, I would cancel them. I called several times but can't get past the automated system. I am fed up with them getting away with this. My next call is to the Better Business Bureau.

In 1988, we purchased a Permanent Whole Life Insurance Policy. We were promised that this policy would provide life insurance protection for my husband's entire lifetime, provided that we paid our premiums in full, which we did. Our policy has a guaranteed death benefit. The policy also has an additional rider for a “Death Benefit Safeguard Option” which ensures that the policy’s payout to beneficiaries is protected and guaranteed regardless of market volatility.

This company is a scam. Trying to cancel the crappy policy they sold me was very difficult. The customer service is awful and they will continue to send you to talk with someone else in hopes you will get sick of waiting. The customer service is condensing and rude. I am still waiting on my refund!

The handling of my claim has been unacceptable. From the outset, the process has been overly burdensome, with excessively nitpicky documentation requirements that are disproportionate to the nature of this policy. This is not a high-value, complex claim, yet it is being treated as though it were, creating unnecessary delays and frustration.

Wish I could give a ZERO star rating. They are intentionally deceptive and hold your 401k money when you request a rollover. I was denied access to upload my documents with "timeout" errors and website down postings multiple times before they accepted it. Then I efaxed with confirmation on 3/27 and they denied getting it. Finally, last Monday, they said everything was accepted, and the rollover would begin 10 days after they got the documents only to learn no, they froze my account and never called back as promised to rectify the situation. I will be filing a complaint with the EBSA Department of Labor. DON'T GIVE them your 401K accounts! See less.

Have an IUL through Transamerica. I requested to withdraw some of he cash value of my IUL. I was told it would take 5-7 business days to process and another day for it to be wired to my account. Today is day 9 and I called to find out why they money hadn't hit my bank account yet. The first agent who helped me today (3/20) was super rude and hung up on me simply because I said not having an answer for why it's taking so long doesnt work for me. I called back and he second agent I worked with was great and found out there was an error on Transamerica's end. Instead of rectifying the issue immediately, Transamerica told me it would be an additional 3-5 business days for the error to be corrected. I told them absolutely not. I wanted to rectified immediately since it was an error on their end.

I have been on the phone with Ashley for over an hour at this point. The specialist continue to hold me hostage on the phone after requesting a supervisor over 10 times. Then continues to say a supervisor is not available yet the supervisor is asking them question to ask me. That is the most absurd experience of my life. I have never experienced an interaction like that. The specialist refuses to assist and then they have indicated that I have requested something that has not been requested on any recorded line. I am requesting that all calls from history reviewed. They are manipulating account information and documentation that consumers have requested and information false information on their accounts. All calls need to be reviewed and any legal action taken needs to be processed. I have audio/ video recordings of calls.

Will be leaving Transamerica Life after 25 years. Customer service (if you can get past their virtual assistant) is not helpful. Nor is the fact that Ruth, their bot, types in your ear every time she asks you a question. Very annoying. After speaking to 3 reps, I still can't get clarity on why I received a letter threatening to cancel me even though my premiums are all paid up. When I asked to speak to my agent who sold me the policy, they directed me to an insurance brokerage firm. When I called them I was instructed to leave a message UNLESS I WAS CALLING ABOUT TRANSAMERICA in which case I need to hang up and call Transamerica and deal with Ruth all over again. Sorry Transamerica. There are other companies out there. I think I'll try them for a change.

Not only poor service but also complete incompetence. They acquired the company we had our Universal Life policies with and immediately began to botch payments. We also had a savings fund with them. Every month, we sent in $455 with $55 designated to the life insurance premium and $400 designated for the savings fund. This company literally could never get it right. One month, they applied $200 to the life policy for premiums, even though the monthly premium was only $55.

The only reason I chose one star is because it was the lowest option available. I would choose NO stars if that were an option! My experience with their customer service has driven me to write this review. In short, BUYER BE AWARE! My wife passed almost a year ago and since I've been making sure everything is in order when I pass for my daughter to take care of everything. I had an estate lawyer create a trust. His instructions were to put all accounts in the legal name of the trust, which includes my daughter's name as the trustee once I pass.

Transamerica are thieves, don't get them as they will use you and make you pay then cancel you and or not pay nothing to your family if you died. This company must be taken off the market as they are a fraud. I paid for 30 years and they just cancelled my insurance.

DANGER: I was unaware my term life was ending. I did not receive the one letter notifying me of the $71 to $497. Because I did not respond, silence means consent to take the money if on auto-withdraw.

I got a 10 year policy from them through SelectQuote because it was reasonably priced. In the meantime I moved to a new address and filed a change of address with the post office. A few years later I got another term policy from them with the new address. You’d think the first policy would have the correct address. When the first policy term ended the monthly bank withdrawal went from $20 per month to $140. They did not update my address therefore I didn’t receive a surrender form. They are unwilling to refund the difference. I will be canceling my current policy. Their customer service is routed to the Philippines and South Africa which were unhelpful and flippant. Transamerica is disingenuous and a business I would not recommend.

I can't even put a star. I called to cancel on the 28th and they still charged me on the 2nd. Customer service SUCKS! Continuous misinformation! I will never have them for any reason and will not recommend them to anyone.

In my opinion and experience they have the Worst Customer Service. Rude. No Compassion. No Patience. I called because they withdrew my from my account before the date of withdrawal and it caused my account to be Overdrafted. I asked if they could change the date of withdrawal for the future and I was told that They Could Not make a Simple Date Change. I told Them that I was Canceling my Policy with them. I ask 2 People on 2 different phone conversations to send me a form to cancel my Policy. They suggested that I submit the Form on-line. I tried 2x, I called and explain that I'm Disabled and was having trouble with the form. I was told that They didn't need to Hear about My Disability. I became frustrated and overwhelmed.

I set up an index policy for my daughter 3 years ago and I like the way the cash value is growing now. Also, at the same time, I have applied for a term policy for myself, and I was able to qualify for it.

My family has multiple policies (both Term and Permanent) with Transamerica, and we are satisfied with all our policies. I have recommended TransAmerica policies to many of my friends and family, and I’ll continue to do so.

I’ve had an incredibly frustrating experience with Transamerica. Due to a personal situation, I am currently unable to contribute to my account. When I reached out for support or to explore my options, I was met with unhelpful responses and zero flexibility. The customer service was dismissive and lacked compassion or solutions.

My brother passed 12/10/2024. We filed our claim in February. The serving siblings are his benefactors. All paperwork submitted multiple times. Today is July 10th. Still no resolution! Birth certificates, death certificates, receipt from funeral home he had a preplanned burial insurance. It's always something. This has gone on long enough we will just wait and file unclaimed property but this is so off the charts wrong. I will from this day forward cry to the mountain tops. Stay away from Trans America! Every time we call it's, "Well we need this" and then it's this. They have all the info needed 3 and 4 times over. Call, "Oh it will be there in 10 to 14 days." Nope we get a letter for the same paperwork. They have it all already! This is nothing short of incompetence and I will be reporting the to the BBB. As will my siblings. Life is hard enough without having to perform like a circus animal jumping thru invisible hoops.

This policy was taken out in 1987! Family circumstances dictated that a disembursement was needed to take care of a aging parent with dementia. I have NEVER seen a company that actively works against sending YOUR money to you. I would NEVER recommend this company to anyone. Please for you and your family, look elsewhere for your needs. This is not the company to give your money to.

This has been the worse experience trying to get my Mom's claim paid. She passed in 2020 and as of March 2025 a claim was filed for benefits and past interest. Every time I speak with a customer service rep, the story changes as to why the claim has not been paid. Anyone who takes out a life insurance policy, get ready for hassles, answers that conflict with the previous rep and the claims adjustors dragging their feet. NEVER again do I want to deal with this crappy company IF I ever get compensation.

The absolute worst company to ever do business with!!! You are better off hiding your money in your mattress than wasting it on this joke of a company. I would NEVER recommend this to anyone, not even my worst enemy.

I recently took money from my permanent life insurance. The staff at Transamerica has been helpful in their prompt responses and getting the check delivered to my house within 5 days. I did not know it was an easy process to get money out of your cash value in life insurance until my experience. John, Columbus Ohio.

It is unfathomable that a company that offers life insurance policies would obfuscate and blatantly make receiving your claim impossible. Every document they have requested has been faxed several times. Transamerica does not abiding by any honest rule of business. My father paid his policy in full many decades ago. The policyholder was Monumental Insurance. Transamerica acquired Monumental. My experience is not rare, there are too many negative reviews to count on the BBB and Google and Facebook and Yelp.

Do not do business with Transamerica. We initiated a small life claim for $1000 nine months ago. After endless delays and requests for paperwork they confirmed receipt of all necessary paperwork two months ago. The money is not all that important, but the life payment is the last step in the process to close an estate. We call every two weeks for a status. The only response is a polite TA agent who promises to escalate the claim for payment in 7-10 days. Then nothing happens. TA has no escalation procedures, just the same powerless agent making the same empty promises on each call. Transamerica's claims processing and general business practices are not ethical.

Customer service and supervisors do not follow through. Returned premium payment with their coupon in their supplied envelope. It was returned 30 days later as undeliverable to that address. Associate says address printed on their own material is incorrect. Requested a supervisor call back and a 30 day extension of the grace period. Have not heard anything for a week. Will be filing a complaint with State Bureau of Insurance. Very unprofessional and unresponsive company. Pay a little more and go with a quality insurer.

My stepfather had a life insurance policy through Transamerica. He and my mom had a loan on the policy, which I paid off after she passed. Upon his passing, we were informed the funeral home received $500 less than the expected amount. When I called Transamerica, they said he had an outstanding loan so the remainder went to that loan. I was told I had to send in a written request to receive a copy of the policy, a copy of the loan and all the payments we made from the time my mom passed to the time he passed.

I don't have a lot of experience dealing with life insurance claims, but I will yell from the top of a mountain to anyone who will listen to never buy any Trans America Life insurance product. Both of my parents passed away last year. And each had a small policy enough to cover burial expenses only with Trans America. You call to get the process started and can't understand the people you're talking to. If lucky you get the claim forms. Mail them, fax, email them, whatever, it doesn't matter. They won't do anything until you call back. With both parents they claimed they had mailed follow up forms that I never received. Understand that I live 80 miles from the office that handles all this.

This is a PSA- Do not take out life insurance or any other insurance from TransAmerica. They make everything impossible from getting ahold of them to answering questions when you finally do. Countless emails and calls go unanswered, yet they’re quick to take their payment every month. And good luck cancelling even upon the death of the insured. When you finally speak with someone, they tell you to email the non responsive customer service department or to fax a dead line to submit the request. I had to remove the autopay with my bank because they refused to acknowledge my request. I truly believe this is a scam and want to prevent others from having to go through this.

WORST COMPANY IN THE WORLD. You get a different story each time you call, even if you fill out all the correct paperwork, I have been waiting for 6 months to get the money after my dad passed. Every time I call, it's a different answer. They never return calls and still have not distributed the money. They don't know what they are doing....stay away.