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Transamerica Life Insurance

Transamerica Life Insurance
Overall Satisfaction Rating 2.59/5
  • 5 stars
    35
  • 4 stars
    53
  • 3 stars
    34
  • 2 stars
    7
  • 1 stars
    57
Based on 186 ratings submitted in the last year
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    Transamerica Life Insurance Reviews

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    Page 1 Reviews 1 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: Jan. 11, 2020

    I have never had a bad experience with this company. I left a company that I had been with for almost 10 years and had a 401k with. I fell into a hardship and needed funds. Although I wasn't able to get the amount back that I thought I would (due to my company somehow signing me up for the wrong type of retirement plan) Janae helped explain everything to me, letting me down easy and also helped by calculating what I could expect to get if I did the early withdrawal. She spent almost an hour with me answering all my questions. And when working in a call center, that takes patience and can be scary if the call center is hounding for quick calls for their "good stats". I spoke with her supervisor after and expressed my gratitude for Janae's patience and kindness as well as her genuine care for my situation as well as her walking me through the website to get things handled.

    Her supervisor, Kristin, was also amazing. Working as a customer service representative can be so challenging. Most companies I call have reps that are already on the defensive because they have someone monitoring their time but they know that the customer needs that time to get a real resolution. Janae's supervisor Kristin let me know that (luckily) their employees are not judged on the time of a call because TransAmerica customers each have situations that may take time and they honor that and want to help in any way they can. This company rocks! TransAmerica all the way!!!

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    Rated with 5 stars
    Verified Reviewer
    Original review: July 3, 2019

    I have 4 Transamerica policies and when I got diagnosed with stage 4 cancer, they pay my terminal illness claim in 2 months after I filed it. I have received 75% upfront of my $500k death benefit. It has been 9 months after I received the money and I am forever grateful as I don’t have to work now and just focus on healing and taking care of my children. Thank you so much Transamerica!!

    19 people found this review helpful

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      Are you this business?
      Rated with 5 stars
      Verified Reviewer
      Original review: Feb. 14, 2019

      I have 7 different accounts with Transamerica and they have been great to work with over the years! My wife and I started our first account 11 years ago and have been impressed by their customer service and how their accounts perform. I had 250k term coverage with a different company and was able to double my coverage with the same premium. It hasn’t always been a perfect interaction, but they have been great to fix mistakes and take ownership for them which is great to see from a company you place your life savings with. One of the best companies out there in the financial industry, coming from a former wall street stock trader!

      18 people found this review helpful
      Rated with 1 star
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      Verified Reviewer Verified Buyer
      Original review: Jan. 11, 2020

      Was offered a group accident life benefit through Wachovia Bank... before I decided to leave this bank to go to State Employees Credit Union I asked if I could keep the policy was told I could set up automatic drafts. Had paid on the policy for 10 years only to call to update my beneficiary information and was told that the policy had been canceled. The only thing I got from their customer Representatives was that they were sorry, (why) because you know the company you work for committed fraud. Yes my premiums were only 3.15 a month but for 10 years I paid it religiously and now they just cancelled my policy without even notifying me! I will never do business with this company again!

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 6, 2020

      I've had a term life insurance with TransAmerica since 1995. No longer needing it, in Oct 2019, I exercised surrender of my policy for the cash value of nearly $22,000. I completed the required paperwork which they accepted and wrote me that I would receive payment in 2-4 weeks. It is now Jan 2020 and I still have not received the check. So far I've made 9 calls to them. Each time they give me an excuse. The first was that they are having trouble calculating the tax to deduct. Other calls resulted in them telling me the check is in the mail. I've now had to go to the State of Iowa insurance regulating agency to help. These people are as crooked as can be. THEY EVEN LIED TO THE REGULATOR telling him they resolved the issue. Avoid TransAmerica Life Insurance Company like the plague unless you just like giving your money away!

      15 people found this review helpful
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      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 4, 2020

      This is one of the worst companies ever! My mother died in October 2019. She had been sick the past few years with cancer and her papers weren't together. She told me she had a work life insurance policy with these people. I had her policy number so I called them twice. The first rep barely spoke English, was rude and nasty and not all sympathetic. He claimed my mother's policy was cancelled the previous year, due to her not paying the annual premium. He then yelled at me when I asked to speak to a supervisor. I'm Deaf and his thick accent was causing hardship. He then REFUSED to get his supervisor and HUNG UP on me! I waited, consulted an attorney who has dealt with this horrible company before, and I contacted them again. Same story, but they then changed it, claiming they sent my mother a check the month after they "cancelled" the policy.

      When I asked for proof that they sent the check, address, amount, etc, they got ugly and refused to cooperate and refused to transfer me to a supervisor. Joke's on them because they didn't know that I have documented proof from my mother's bank that TransAmerica DID get the payment check from my mother, CASHED it and THEN canceled the policy illegally. And her bank records show no sign of any checks from TransAmerica. I'm reporting you for outright fraud and deceptive practices to my state AG and Insurance Commissioner, TransAmerica. And I'm urging people to contact their state Attorney General's office to request an investigation for a class action lawsuit against TransAmerica.

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      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 4, 2020

      I paid on a small $43K Life Insurance Policy for over 15 years. When I retired, Transamerica raised the premium, no surprise. However, they raised the premium to thousands a year. Over the past two years, especially, the bills started soaring. (In my opinion, this is done to get someone on a fixed income to drop the policy before the company has to pay on it.) I repeatedly asked for the total cost of the premium for 2019 so I could decide whether to continue the policy. They refused to give me the information, only telling me to file a form to have my quarterly premiums raised so I would not go into default.

      I finally received two bills for Nov & Dec totaling over $1000 and I could not pay them: they cancelled the policy. So, they managed to take thousands from me by refusing to inform me the escalating cost, which in my opinion is deceptive. They were aware, due to my many phone calls, that I was struggling to pay the premiums but continued withhold from me the information I requested. Do NOT count on this insurance money being here for you: Transamerica has ways to take it away from you.

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      9 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 31, 2019

      I have a life insurance product with this company. If you want a part time job that is frustrating and does not pay, buy a product from Transamerica. They offer phone numbers that require you to know the extension number. They are unable to make a phone call transfer successfully. After repeating all of my information 5 times I am once again transferred to the land of lost calls. Everyone I spoke with was very polite and not once was able to help me or connect me with someone that is capable of answering questions. This is part of why JD Power ranks them with the losers.

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 30, 2019

      I will never use TransAmerica again or recommend them. My dad’s 401K at work was through them. He died and they transferred to an IRA. They required me to withdraw his entire IRA lump sum to his estate. Now they refuse to do so. I sent an original death certificate with a raised seal. TransAmerica proceeded to scan the document which now shows voided and seal is not legible. I have been fighting this for a month and my father’s estate cannot be closed until the issue is resolved. My lawyer has called as well and we have left multiple messages and emails with supervisors and nobody will respond. I am at a loss and so very frustrated. I don’t know what more to do besides hand deliver another certified death certificate to Iowa from Charlotte. TransAmerica is a joke.

      12 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 19, 2019

      I CALLEd QUESTING A LIST OF IN HOME CARE FACILITIES IN MY area that they honor. I was on the telephone thrice for one hour each time. The first time I was told that they would sent me a list by email and send a hard copy in mail. That was 6 business days ago. Today I called and was on the phone for over an hour and was finally given one name from the list. I called the number. It was a number no longer in service. As of now I have an doctor order for in home care but do not have any idea who to call for in home service.

      8 people found this review helpful
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      Transamerica Life Insurance Company Information

      Company Name:
      Transamerica
      Year Founded:
      1984
      Country:
      United States
      Website:
      www.transamerica.com

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