Transamerica Life Insurance Reviews

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.

This company makes you jump through hoops just to deny coverage! Cognitive test is like your prepping for a presidential run! Age is their big factor!! If you're old, be wise, go with another company!!!

If I could give a negative number, I would. They charged $800 on a policy that was canceled. When I tried to rectify the matter, the customer service was sooo rude. I did not have one piece of information that he requested and asked to speak to his manager. I asked for his name 4 times. He rudely said NO! and hung up, only to have be wait on another round of call waiting. Don't ask for the call back number. It's probably outsourced somewhere where the people don't care. 866-878-4678 was the call back number on 7/29/2024 at 2:15pm eastern time. Luckily the second guy was much more helpful (not the call back number).

What is wrong with TransAmerica? My wife and I surrendered our term life insurance about three months ago, needing the money for an urgent transaction and expecting the promised deposit of our surrender amount within 3-5 days. Since then, we've been met with endless excuses and delay tactics. For my wife, first, they claimed they needed to verify her last payments. Two weeks later, nothing had changed. She emailed them our bank account details to verify her last payment, but they sent a letter with another vague excuse.

I have a Roth IRA with Transamerica. I recently reviewed my policy and found my beneficiaries needed to be changed. (From ex husband to my kids). Their process is SO RIDICULOUS. I had to download a 4 page form, go to a bank that has a Medallion Signature Gaurentee and get a signature, (closest was 30 miles away), and fax the papers back. Update your process and make it easier on your customers please. Most financial institutions let you do this simple process online. You are wasting my precious time with your outdated policies!

I requested a refund after having the policy for well over a decade. The first check arrived but due to a faulty code on the check, my financial institution was not able to process it. On June 6, 2024, I requested a stop payment on the check and asked that it be reissued and overnighted to my financial institution. I called to follow up again on June 26th to locate the check. The agent spewed information on verifying address so quickly, I was not able to write it down. I am 90 years young and I when I asked to please repeat the amount and check number, Matthew, responded in a condescending voice that was not what I expect from customer service.

I opened a universal life insurance for my daughter with TransAmerica. Both the agent who helped me to process my application and TransAmerica representatives have great in making me understand the product and answering my questions.

This seems to be a scam. There are a bunch of fees. I tried to cancel the insurance weeks before they took money. They still took the money. This seems very scam like behavior. Now I call the main headquarters and they're close. But they took money in the middle of the night when I already canceled the policy. What is going on with this company? They did the same thing with my wife.

My father had a long term care policy with them over 30 years. One of his first instructions was to cancel it. Not only would they not accept proof I sent them, rates climbed yearly higher than expected, they would only accept pdf formats of his Obituary. He never used it. Better to put in the bank considering cost. Only two days after his services this was unnecessarily hard and they were not very understanding of the situation. When I told them no more drafts they drafted again the same night. Fortunately the bank trust department said they'd reverse it since they'd been notified. It took telling them the bank's estate attorneys could handle it if they wanted before they canceled, then tried to draft again. No, not recommended..

ZERO STARS - To any persons with a life policy from this company - for 19 years I paid these people on time, every month. When I needed to cancel the policy and cash it out for a fraction of what I paid in, for the past 32 calendar days (23 business day) I have been waiting to hear from ANYONE in this company on when I will receive a check for the cash value of the life policy. To date NO ONE has called, emailed, or written.

ZERO Stars!!!! These guys are a complete disgrace... they won't let change my beneficiaries!!! They won't take my own signature to change my own policy! Then They make me get my signature notarized, I did that , then they Rejected it again! This has been the worst Process I have ever had to deal with! I have to basically give my own blood to have my policy changed... They are stealing from me at this point, and I am pissed.. they have horrible customer service and never notify me of any thing needed to make a change. They have terrible people working there not trying to help and doing only a good job of finding reasons not to help. I hate these People, they are causing me so much stress not knowing if my family will be ok if something happens to me.

I had 6 life insurance policies with this company Transamerica. I tried to cancel and cash out all 6 policies and did what they asked me to do. After faxing all 6 disbursement request forms, they still did not execute my request. Finally, after 7 days of calling they issued 3 of them but not the other 3 which had bigger amounts. On the 8th day, I called, and they said one of the policies' signatures did not match their records and asked for a copy of my driver's license. I faxed the copy to 410-385-6903 as requested and still no luck. They released today 4/10/24 one more policy and told me that the other two were on hold and still in process. They told me to check again in 5 to 7 days.

I opened an account with a well respected company who, 4 years ago, transferred management of the account to TransAmerica. I decided to close the account & withdraw all funds recently. TransAmerica required me to fill out 3 forms. I’ll call the forms A, B, and C. There is no way to fill out & submit these forms online (which could be encrypted). Instead, you have to fill out PAPER forms & either send these forms with your full name, date of birth, SSN, bank account number, routing number, and address through the mail for literally anyone to steal or email them. Email is not encrypted, which also means all of your PII is completely unsecured.

Please consider using a different insurance company. Transamerica is an absolute scam. My father passed away last May. I submitted the claim shortly thereafter and it still hasn't processed (10 months). I've called the claims office many times with no resolution. Each time I call I receive a different excuse why it hasn't been processed. And each time they verify the claim was submitted and complete. I've asked every time to speak with a supervisor in claims and get the same response, "you'll receive a call within 48". I'm still waiting!

I have had AD&D insurance with Transamerica for years, always paid the premiums a year in advance, this year I was told I could not do that but I could sign up for autopay with a credit card to avoid processing fees, so I did. The first payment for January went fine, the February payment did not, as I got a letter telling me I needed to pay an extra 3.50 processing fee as the payment did not go through. I checked my credit card and no payment was made or attempted. This is just a scam to get me to pay an extra 3.50 per month to process my premium and I am going to file a complaint with my state and the FTC, I wrote to **. Help email to cancel my account if they could not process my payments and they canceled it without even a notification, so buyer beware, and if Transamerica is not aware of this practice, they should be now.

Submitted a death claim August and still haven’t received any payout. Sent all required paperwork initially. Have received 5 letters asking for exact same thing that has already been sent to them. Their customer representative told me she was going to inform the processing department the paperwork was already received to only receive another letter a week later with the exact same request dated the same day that I spoke to her. They are playing games and dangerous games I might add. What a sham for life insurance.

Very disappointed in Transamerica. Not happy with the way they treat you. I wouldn't buy a policy from them. They take your payments Out of your account every month but they don't like to pay out the policy on a death. They left us stuck with all the funerals cost due to no payout on them. The broker lady Tina ** tells us to throw out any letters we receive from Transamerica. Not sure what they are hiding or what she is hiding. If my husband would have known this I am pretty sure he would be rolling in his grave by now. He wouldn't want his family to suffer like this. Transamerica also has a bad BBB list. Look it up. Please be careful who you choose for death to cover you. Transamerica isn't it. Find someone else and do your background who you choose. I am very disappointed in Transamerica for all my husband death policy. They take from you and they don't payout. BEWARE.

I tried talking to customer service to make a correction on my account. The person I talked to had a very heavy accent and was hard to understand. I guess I asked her to repeat herself one too many times and she got snotty with me. I got nowhere with her, maybe she was getting pissed at her kids who I could hear in the background. I'm assuming my call went to another country. Why? Hire Americans that can enunciate.

We have been trying to verify an old claim for more than a year. They refuse to assist over the phone, so we keep doing paperwork of all sorts (W9, address change and so on) sending these people every detail of our lives, and yet we only get back incomplete sentences- weeks later- vaguely asking for a different piece of information that we already updated. It is maddening and I am convinced they are evading on purpose. Will definitely pull my money out the second I can.

My dad passed away in April. No one knew this policy existed. My grandmother purchased it in 1964 when my dad was 6. She had just lost her father and husband in a car accident and her brother not even a month later. She passed in 2004 leaving my brother and I as beneficiary for my dad policy. The way it was set up funeral first then the rest paid out. I have sent them a receipt for the funeral twice. The funeral home even did an itemized one showing the balance of 0.00 yet they want a receipt for the funeral again. Even though they have the ones we sent on file. It is very frustrating to deal with a company that wants to give people who are grieving a hard time at a time they truly don't need more grief.

I have several policies with this company for over 30 years so I was going through my policies and I found out that this company was taking out money from my husband bank account that he did not authorized.

We have been with Transamerica Life for decades. Now, the customer comes Last! Outsourced! Incompetent, don't do what they say they will do, do not comprehend our culture because they are nor from here, and I struggle to understand their English. What a terrible feeling to experience this with such an important matter! We are surrendering our policy with Transamerica immediately and getting out of dodge! While we can! Our nation's corporations have sold us down the river for the love of money. They are treasonists! We advise all people to be your own bank. Best wishes to fellow patriots!

been trying to get my inheritance for over two years now with company. Sent them everything they have ask for many times. Still won't give me my money. Worst company to try do business with. Don't waste your money with them.

I recently had to handle the affairs of my deceased mother. One of her accounts was a deferred annuity with Transamerica and she had told me that I was one of the beneficiaries on each of her accounts. Each time I called Transamerica I spent many hours waiting for a connection to someone who could help me. Finally I was advised to send in death certificate via Fax. Who does that anymore? After three weeks passed I called to find out the next steps. Again, I waited for about 10 mins to speak to someone. The woman who finally answered said that she could not help me because I was not a beneficiary. She was very rude to me and would not help me in any way. She initially asked me for so much information that it would be impossible to falsify who I was.

Transamerica is supposed to be providing customer service for an annuity I had at Vanguard. I have had nothing but problems with inaccurate tax information and forms with errors. No two representatives giving me the same answers to my issues. It would almost be funny but these are such important issues. I have absolutely no trust in this company. My tax adviser tells me he has had several clients who have had similar experiences. If I can figure a way to get away from this company I will.

My Dad passed 10/2022. Transamerica sent notice to my Mom (beneficiary) 1/20/23 needing beneficiary information. I contacted CSR on 1/24/23. Spoke with Alice. She took my Mom's information down and was told my Mom would be expecting some paperwork. Transamerica mailed out on 2/17/23 the exact same notice of 1/20/23. I phone CSR on 2/21/23 and spoke with Paul. As we were speaking our call was "disconnected". On 2/22/23 my brother called CSR and spoke with Takya and my Mom gave her permission for CSR to speak to my brother. He was told my Mom would receive "packet" in mail in 7-10 business days. Three weeks later (3/14/23) I call CSR and speak to Patricia and go over the same information as the other three phone calls. She put me on hold to speak with a "supervisor". She gets back on the phone to say that when Tayka spoke to my brother on 2/22/23, it was marked that my Mom was no longer living???

I paid my yearly life insurance premium on November 1, 2022, of $397. The company sent me another notice shortly later asking for another payment of $397. After numerous phone calls to the company and my bank, my case was put on investigation to find the initial transaction. In order to avoid losing my life insurance, I made a second payment of $397 on December 5, 2022. Several phone calls and emails later, showing multiple evidence and proof of payment from my bank, I received letters from the company asking for further evidence that I made the initial payment. Further letters have now been mailed directly from my bank with further proof of payment. The company continues to stall the return of my overpayment of $397.

A life insurance policy came to term. Without calling, writing, or emailing, Transamerica decided to extend the policy and charged $5,719 and then $5,000 for a month's extension. I found out right away from my bank because I have alerts set up. I immediately filed a claim and issued a stop payment. Thankfully, I was in time and they never received this outrageous payment. I never authorized this sum of money for withdrawal. Additionally, I continued to receive conflicting information from this company as I also immediately surrendered the policy. Had I known about all of the complaints, I never would have done business with them in the first place. Save yourself anguish. Carefully vet the company you are going to work with. If I wasn't fast enough, I would probably still be trying to get the unauthorized payments returned. Stay away.

My mother is currently in the spend down process for nursing home care through Medicaid. I've talked to 6 different people. Been told 6 different things. Jumped through all their hoops. No response. Now I have to cancel the policy as POA and she loses all her money that she paid. I will also not have the money for her final expenses. It's that or she is evicted from the nursing home in two weeks. Just shameful. Transamerica are crooks.

By far the worst customer service experience I've dealt with of any company. Any other online service allows you to download a copy of your policy. Need a copy? 20 min of automated menus, request from customer representative and hope you are clear enough in your instructions, 3-5 day servicing time (it will be 5 days), no email copy available, must be physically mailed. Another example, sending in a form for approval, don't expect a phone call or email if there is any issues, you'll just receive a rejection letter weeks later. Don't expect customer service to tell you what's going on, they either don't know or won't tell you. Avoid at all costs.