Transamerica Life Insurance Reviews

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.

READ THIS WARNING! I have been victimized by Transamerica Life Insurance Company! I purchased a life insurance policy in 1988 to provide for my family in later years. Transamerica willingly accepted my premiums, but then took massive deductions from my policy resulting in completely depleting the cash value of my policy. 34 years after purchasing the policy, Transamerica demanded that I pay thousands of dollars in additional premiums to keep the policy in force. Even after being forced to pay over $15,000 in additional premiums, Transamerica canceled my policy, and failed to inform me. I purchased a life insurance policy in good faith from Transamerica expecting that my purchase would be honored in the future. So now, in my senior years, I have NO INSURANCE POLICY, and TRANSAMERICA HAS ALL THE MONEY THAT I PAID (Close to $60,000.).

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.

My grandmother passed away in July of 2024. I turned my paperwork in on August 30th. We are now sitting on December 13th and I still have got my money. I have been calling them over and over. Every time I talked to someone they tell me a long story. I have been trying to talk to management and I get a story how they're at lunch or in a meeting. 100 Different stories with no answer why my money hasn't been sent.

I have called over and over many times to the customer service in South Africa. I have been told the same thing over and over, about my claim is in processing. I have not received any further documentation by mail or email. This is on a claim for an annuity my mother had who recently passed away. There are 7 beneficiaries and none of us has received any checks. Death certificate, and other paperwork necessary have all been submitted. This is no way to run a business. The worst experience ever.

I am filing this complaint with BBB because I know my rights as a consumer. I have a life insurance policy with TransAmerica through my previous employer. The policy is about 6 years old now. I don’t have a copy of the policy. I requested a copy and I was told that it cost $25. They mailed the request form and I filled it out and sent it back with the money order. I have been trying since June 2024 to get a copy of my policy. I’ve made several phone calls and every single representative promised to mailed out the policy. The policy was never sent to me. They claimed I should check with my mail carrier to see if I had any issues.

Received billing notice from Transamerica Life Insurance Company dated 9/25/2024 regarding Life Insurance Policy for brother claiming "lapse of coverage" 3 months non payment. Well I am his p.o.a. Never seen a statement nor a credit debit in the amount of $7.95 for monthly life insurance payments. Interesting! What I need to know is "who" took the time to make payments "simple question" doesn't take a rocket ship scientist to see that someone was making payments last one made July 2024.

They represented a Guaranteed Universal Life Policy with a fixed 10year premium for a guaranteed 200K Death Benefit. After 10years they continued to send invoicing and out of error I paid 2yrs extra before realizing my mistake. In asking for refund of the overpayment, I now have 6 months of run-around without resolve. Now they want to lower the Guaranteed DB by the refunded amount? The original sales illustration also never ended up in the Policy Contract - very deceptive. Requesting the overpayment(s) they said would affect my illustration value to age 110 - Are they kidding? Absolutely do not do business with this company. I have had nothing but "Good" experiences with NM and wish that I had never bought into the Transamerica policy.

This company is the worst. I request a loan on 8/27/2024. I receive a email that stating it was mailed out on the 29th and to wait 15 business days. Let's start with the fact that it should not take 15 day to receive a piece of mail this day in age. So the 15 days have now passed. I called. The first person I talked to stated that FedEx did not run in my state. I live in Atlanta by the way and that they remailed my check on 9/5/2024. Still no check. I call back and the next person tells me, "We will reissue a new check and expedite it." I call again to make sure this was done and of course it wasn't.

They are just like a fraud. I requested loan from my cash surrender amount about almost month ago. I’m still didn’t get it. When I call and asking they answer every time different answers. First time they answered it will take 3 days processing then I will get money. I waited 5 days. Not get it money. I called. Answer was for processing, take 3 days and wired take another 2-3 days. So I waited another 3-4 day. Still didn’t get it. I called again. Answer was whoever lives in California then have to signed up for acknowledge. You will get sign paper by mail. So I have to wait, get mail. I waited another 4-5 days to get mail. After 3-4 days I got that mail and called again. And they processed by phone for acknowledge. And answer was I’m done all processing now. So you will get money before 3 days. I waited another 3-5 days. Still didn’t get it.

They suck... I receive a cancellation notice, but never received the first notices of premium due and this has happened repeatedly over the years. You can't talk to anyone other than "customer service" and they tell you that you will get information and you never do. There is no "escalation" or supervisor to talk to you. One example- Death occurred March 24. I called about claim for death benefit in April. Was told to submit the information via email. I did. I received an email response that materials were received. After 3 weeks, I called to check status and they tell me that they never received my documents. This stuff is still going on. They must have a staff of 2 in the Claims department.

My Grandmother had a life insurance policy with Transamerica for many years. She passed away on January 19, 2018 from a long battle with Alzheimer's. Here I am in 2024 and they are still fighting the small amount owed to me and my brother. Do not do business with Transamerica!

Worst company ever it seems to be a scam. My family member passed in May. I sent paperwork in June is now September and I’m still being given a runaround saying that my paperwork is processing. Anytime I call I can never get a supervisor on the line. Is always, "I’m gonna escalate this, and in 24 hours you should have an answer. Don’t call us back. Will call you back" and never know word. I’m seriously considering taking legal action against this company or the scam company Ponzi scheme.