Transamerica Life Insurance Reviews

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.