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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!!
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!
I am very happy with my product and services that I have with Transamerica! It is a little shocking to see all these bad reviews but it seems like they did not have a good agent. I had a lovely experience with my agent and he explained to me on how everything works. Keep in mind that Index Universal life is not a short term product! Do not cancel before 15 years!
Very professional and a great variety of products! Good customer service! Sat down with the reps and they were paying attention to my needs, which was very comforting especially with the topic that was being discussed.
Do not use this company life insurance. These people will have some lame excuse for not paying your family once your loved one is decease, and this is a very bad time to go thru when your loved one is in the funeral home and you have 3 days to get them buried....You have to come up with the money somehow ....PLEASE DONT USE THIS COMPANY. YOU WILL BE VERY DISAPPOINTED.
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My father in law passed away 4 months ago. His wife has made numerous calls concerning receiving the payout of the policy. She has gotten nowhere with this poor company! They intentionally delay paying out the money due her. The man has been dead for 4 months! Premiums were paid on time. But, they can't seem to pay claims due. I have a policy on my son. I hope I never have to file a claim. Just to avoid this terrible customer service, I am cashing in the policy and taking my business elsewhere! No way am I going through what my mother in law is going through. I won't give TA the chance to mess with me. It's not worth it.
TransAmerica is a joke. Seriously the most inept group of people ever. My brothers and I chose to surrender a life insurance policy we owned on my mother because dealing with this company from an administrative standpoint is ridiculously frustrating - many issues over the last few years. Upon surrender, 25% of the cash value was sent to my eldest brother. No checks were cut for me or my other 2 brothers. After 2 days of “researching,” TA cannot figure out why they only sent one of the four checks, although they did acknowledge that they only sent one. They also cannot figure out how to send the other 3 checks (roughly $40k each). I can’t imagine any circumstance under which I would recommend TA.
I am waiting for reimbursement on 3 claims for my mother for more than 20 business days and that is patently absurd. Do you think TA waited 20 days to cash my father’s premium checks? Not likely. And the phone associates are totally disinterested in how long you might wait, and they refuse to let you speak to any supervisor. If you are thinking about purchasing long term care insurance, bear in mind the operative word here is “long” as you will wait a very LONG time for any reimbursement. Shame on Transamerica!
I have spent five months trying to complete a long-term health care claim. On average I hold for forty-five minutes to speak to someone who tells me my records are incomplete. The care facility has spoken with their representatives three times (they too have been put on hold!). Transamerica contracts with a third party agency to collect their required data. To date no one can tell me from whom they have sought information. They cannot identify the agents seeking information. Worst of all, all correspondence from Transamerica is simply signed Claims Department. As I write I am on hold yet again.... 25 minutes and counting!
I requested a withdrawal from my Long Term Insurance Policy and somehow my bank account number was either received or given wrongly. My ”agent” handled the request on 7/24 and checked in the status by 8/02 and realized the bank account did not match with anything in Transamerica records. 1) Never received a call to confirm information regarding my request. Neither an email. 2) No follow-up from the Supervisor who I spoke on 8/02. 3) After calling today 8/07, I have to wait another week to have my in my bank account. This is the WORST S.O.P. ever!
Transamerica Life Insurance Company Information
- Company Name:
- Year Founded:
- United States