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My Dad bought this LTC Insurance many years ago, and has been paying healthy premiums for over 20 years. He has needed to make claims now that he's 90 and needs some home help. At first they turned down all claims flat, leaving me out $2,000. The second time I claimed, two years later with a smaller claim, they were super bureaucratic and slow. After months of followup, duplicate requests, long hold times, and other nightmares, they are finally paying on the claim, all of up to $700 per month.
Meanwhile they are raising premiums, which he is still paying, at better than 22% per year! They ask if we want less coverage to keep a lower premium, but warn that if we are on a claim, that our whole insurance coverage will be tenuous. So, he's getting between $500 and %700 a month to pay for a caregiver (i.e. not much care, but some), and paying over $200 in ongoing premiums at the same time. Also, we have nurses evaluating him every six months, which is a poorly coordinated service, and has to be ironed out that often. They always think they're going to come out to my house, which is 200 miles away, and we get the wrong nurse, etc. etc. etc. Don't buy from this company. There must be a better one.
Every time I call they state they are missing paperwork - I know they have it. As soon as I say, I know you have it - they seem to find it. I have been put off months and still trying to get the money due us. They are horrible to work with. Avoid this company...
They have been paying for my mother-in-law's long term care for 2 years and now claim she’s not eligible any longer. When I called them I was told they were missing some paperwork. Each time I fax the requested documents they claim to not receive all of them. This has happened 4 times. Now they want a death certificate of her spouse. This has happened when the spouse died 2 years ago. They look for every reason under the sun to not pay benefits. They have to be throwing documents out and then claim they are “missing”. AVOID THIS COMPANY AT ALL COSTS!!
After paying Transamerica twenty thousand dollars over the last ten years toward long term care insurance they have raised premiums by 30%. Repeated requests for notification and guidelines regarding this increase have been ignored and their agents repeatedly lie by saying correspondence has been sent or will be sent in the mail but it never arrives. Transamerica has now gone into my bank account and increased the amount paid them monthly without my permission. Wish I'd never gotten involved with this group of crooks!
Minus zero would be the rating I would give. Simply getting through to CS or Claims can take 20-30 minutes. Not one time did I reach anyone who could answer all of my questions... Normally, the conversation ended with, "I'll get back with you" or "I can find that out & call you back." Even cancelling the policy is difficult.
Please note that I have 36 years in the insurance industry & much knowledge of insurance products including LTC.
After sending a certified letter (return receipt requested) directly addressed to a "claims supervisor" - I received no response. In October of 2018, I began making call to CS. Again on November 30th & January 30th. Each time I was seeking answers & contemplating the cancellation of my husband's policy. There is much more I could add. This has been a very frustrating experience. Finally, on 2/5/19 - I reached someone to cancel my policy. My husband passed away on 2/1/19. To this very date... I do not know if my husband qualified for any benefits under the policy we purchased 17 years ago.
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If I could give this company a zero star rating I would. My father has had his long term care policy for 20 years. He has paid thousands of dollars in premiums over the years. In May he moved from senior living to assisted living due to his Parkinson’s. With that move came a large increase in rent that he can’t afford. I filed a claim with Transamerica for payment from his policy. The claim was denied. They said he did not meet their requirements for assisted living. I gathered additional information from his doctors and senior living complex and wrote a letter of appeal. This appeal began in early November and has yet to be resolved. I have called them at least 4 times stating the doctor had not received the form.
Here is what I have experienced: wait time is almost always 30-45 minutes on hold no matter when you call. They had the wrong fax number and when I corrected it they told me it would take 5-7 business days for the fax to be sent. A request had to be sent to another department. 5-7 days for a fax - really? Today is the 9th business day. Another 45 minute wait and the fax had not been sent. When I asked to speak to a supervisor, there were none available and a request had to be sent for a callback. This has been one of the most frustrating things I have tried to navigate. I have spent hours trying to resolve this. There is not an elderly person who could navigate this system.
I believe it is set up so people will give up and leave $225,000 on the table. My dad has also seen his premiums raised last year, again in 2019 and 2020. He can agree to reduce the value of his policy and pay less. I think they hope he won’t be able to pay the premiums and will let his policy elapse. I would not recommend Transamerica long term care policy to anyone. I will now be contacting a lawyer to see what we might be able to do to assist my dad in receiving the money that is his. Just one more thing - I have never written a review like this. I am so upset by this entire process that I am in tears as I write.
My parents have paid into this company for 22 years and are now paying 11,000 a year to keep this policy. In order to file a claim, you must move into an Assisted Living Facility before an Assessment can be done to see if you qualify for Long-Term Care Insurance. That is the dumbest thing I have ever heard. My Dad has Parkinson's so I guess we will have to wait until his condition gets worse so we will know for sure that he will qualify. You must fail at least 2 of the 5 qualifications.
My mother is 91 years old and recently experienced a severe heart attack. They use outside contractor to deny eligibility and then stall you by requesting additional information from very busy doctor. They are careful to say eligibility is still being reviewed. My mother is a retired teacher who taught for 45 years and made payments for decades for a long term care policy. She is been in assisted living facility for two months with no help from her long term care policy. This should be investigated.
My mother in law paid the premiums on Transamerica's long term care insurance for 35 years... Huge expense. Then she was diagnosed with ALS and started to go downhill relatively fast. Transamerica not only denied all of our claims for CNA help (and our appeal), but I had to spend hours on hold every time I called (like every other day) and were forced to deal with the most incompetent customer service agents who are only trained to give you the runaround. They spent 7 weeks deciding that they would not cover CNA care for my mother in law. She died two weeks after that decision. The last two weeks of her life we went without the CNA help we desperately needed adding incredible levels of stress to an already horrible situation. After 35 years of payment, Transamerica didn't pay out a cent.
My late husband & I have long term care insurance with Transamerica for many years. They have failed in performance ad infinitum. Customer service employs staff and trains them in stalling, hiding, lying, nonperforming and generally screwing their paying customers. Especially considering most customers are elderly and stressed by needing the services for which they've faithfully paid the company's ever increasing premiums. Since they're not members of your organization... please suggest what authority or government watchdog is capable of investigating and overseeing their shady practices. The consumers deserve protection.
I had been paying a premium every month for a policy for my mother for 18 years and when the monthly premium went up to $580 per month I called the company and chose the option to stop premium payment and just keep cash value of the policy. I was advised on the phone and per the rate increase notice that this was an option. Now I need to use the policy and they will not send an up-to-date copy of the policy. I have asked 3 times. I tried to register on their website but the "Register" button on the site links nowhere. It's fake. If I had kept the money I had been paying them every year I would be in much better shape. I will have to hire a lawyer now to deal with them.
I have had my Long Term Care Insurance since 1999; my premium is paid thru county retirement. I received a letter June 2018 from Transamerica that I owe two months back payment. I signed up for the policy June 1999 and according to Transamerica Los Angeles County retirement did not start sending them payments until August 1999. I spoke to Los Angeles County Retirement and was told as soon as they get the bill from Transamerica they send in the payment. There is no way I can prove what happened since I do not have records going back 19 years. Transamerica did a recent audit and stated I owed them 2 months payment from 1999. It seems like the statute of limitations would have expired. Customer service has not been able to help, but has been nice.
My mother paid for Transamerica Long-Term Care insurance for 17 years and has over $100,000 invested in premiums. Her original policy included the premium waiver and no limit on length of time the policy would last. After ridiculous increases in policy costs, at age 93, she consented to reducing the length of time to 5 years of benefits. Three and one-half months before her 94th birthday, she entered assisted living, and was eligible for benefits on March 13, 4 days before the premium was due. All of the paperwork had been filed so she could start collecting as of March 13 (papers faxed to TA on April 1) and not need to pay another year of premiums. I had called and been told by a customer service representative that the claim had been approved and payment would be made the week of April 24. But, that isn’t how TA works! Even though she had claims in process, they demanded that she pay another year’s premium.
I waited the 65 days grace period instead of paying the premium. If TA had paid the claim within 15 days as the policy stated, that premium would not have been due. Then, I got a call saying that her policy had been cancelled due to non-payment of the premium. So I overnighted 1 year of premium to keep the policy from being cancelled. The check was quickly cashed, but the benefits which were now 3 months in arrears did not show up. Finally, 140 days after she was eligible for benefits, she received a payment. And it took a total of 232 days for TA to refund the premium that should not have been due, and that is after I spent hours and hours and faxed many more documents to get them to refund it. And remember, the policy says they will pay within 15 days of "Written Proof of Loss" which had been previously provided.
Now she is in the nursing home on hospice. She has collected benefits for 12 months and we are waiting on payment for the previous month… 30 days after the bill was faxed. I would be happy to cancel this policy if they would refund the payments she has made over the years. She, as well as many others, sacrificed to pay the premiums on this policy, and she needs the benefits paid on a regular basis in order to keep her bills paid. If you have a TA policy, you need to have a lot of money in reserve to pay the bills while you are waiting for TA to decide if and when they will pay. TA makes life miserable and stressful. Their customer service is rotten. If you call, it is nothing to be on hold for 2 hours or more. The customer service personnel do not know what is going on and do not know the benefits of the policy. There is no one customer service person you can speak to who is familiar with your policy.
I know that other companies assign a "care coordinator" to each policy holder so there is some continuity. (My mother's policy says they will provide a "care coordinator", but that is another thing that TA doesn't do.) My neighbor’s parent’s policy also paid for diapers and dietary supplements by just providing the receipts for those items. TA won’t pay for any of that unless the facility buys it and bills for it, and many facilities will not do that. I agree with others who have reviewed TA here. DON’T BUY TransAmerica LONG-TERM-CARE INSURANCE! There have to be companies that are better. I believe that there should be a class-action suit against TA. They do their best to not pay any benefits, and like others have said, if the policy-holder does not have someone who is willing to spend a lot of time and jump through a lot of hoops, TA will not pay at all. It is an intentional plan to NOT PAY.
After paying into this company for 20 years, we noticed the last three months premiums due, were not deducted from our bank account. With all the bad ink I read on ConsumerAffairs regarding this company, I'm very concerned. What's happening with our long term care insurance? Having trouble contacting them. Does anyone know anything?
Updated on 05/21/2018: This is a follow-up to my earlier message today. I called Transamerica today and got a real person, a gentlemen named Gerrod. He related that, while the premium increase cost (which we had agreed to) is being put into effect, the monthly payments were not required. Hence the reason they did not withdraw the payments from our bank the last two months! When would this be? He "didn't know"! Hum!
My husband and I are 63 years old, and recently applied for Long Term Care Insurance through Transamerica. He was approved. I was denied due to "osteoarthritis and physical therapy." As a healthcare provider I am stunned. I dare say that anyone our age will show some degree of OA/degenerative joint space narrowing on any imagining study. In addition, I frequently refer patients to PT for conditions which will ultimately strengthen joints and muscles, ultimately hoping they wouldn't develop problems down the road requiring long term care. Once again I am saddened by big industry/insurance denying services unless someone is totally fit and healthy, decreasing the likelihood of them needing to pay claims. I have no doubt why these companies get wealthy while denying coverage for totally lame reasons unfounded by any scientific credibility and research. Find your insurance elsewhere.
I have had a long-term care insurance policy for 16 years with Transamerica. Fortunately, I have not had to used it. I expected they would periodically raise my premiums and I have had an average of 15% annual increases over the past 16 years. As I am about to turn 70, they are increasing my premiums so it will be difficult to keep the policy. By 2020, my premium will be 90% higher than today. I feel like this has been a bait and switch. I have been paying premiums for 16 years and just when I may need it, they price it so I have to let it go. The only options they have given me is to either drop the policy or decrease the benefits.
So all these years I have been counting on this policy to take care of me and now it won't be there. Sounds like a scam to me! I called the company and found out the only way to get this information to them is either by phone or a letter. They have no way to email the company so unless I send a certified letter, I have no record of what I sent to them. In this day and age, not having a way to electronically contact the company seems suspicious. The customer service person was horrible and I had to talk to 4 different people only to end up with someone that could only reduce my benefits. This is not customer service.
Transamerica Long Term Care Insurance review. This company is a scam on elderly. My mother has paid over $30,000. We began a claim for time spent in a care center back in September. It is now February, and they're still sending us paperwork. In reality, she will not be able to get decent coverage, because, even if she's receiving some benefits for current care needs, she still has to pay the premiums each month. Read the fine print. The claimant has to pay monthly premiums until they've been in an actual nursing home for 6 months! Most people don't live more than 6 months once they're in a home! Now, I can't get them to cancel her policy. I'm being ignored, and they're sending her bills for three month's coverage. Terrible.
When my dad first started invoking his long term care insurance back in 2010 to pay for Assisted Living, it took months of calling, faxing, mailing documents to finally get monthly reimbursements. They FINALLY started to pay. He was out of Assisted Living for two years and went back in Oct 2017 and here we go again with faxing, calling, speaking with rude customer service reps trying to get reimbursed. Used to think this company was inept, but after reading the history, in that it was started as a pyramid scheme, I realize it’s purposely trying not to play claims. I’m surprised the Insurance Commision, hasn’t shut them down, seized their assets and refunded peoples money! Hang in there - keep fighting; keep records - they’re hoping you give up! My dad is 93 and he has $130,000 left on his LTC. I hope he lives long enough to get back every dime!
After reading these reviews I am scared to death that my claim that was filed in August 2017 will be denied. I have been calling every week since October for updates and now calling every other day. I get the same answer, under review, should know in 7-10 days. That's been the answer since early December. Requested callbacks from supervisor and told that it could take up to 72 hours for a callback. Premiums for this policy have been paid since 1994. Received notice that premiums were increasing and offered to lower the benefits in lieu of paying the higher premium. Really?
My mother purchased a policy from this company 20 years ago. She really couldn't afford it but did without many things in her life just to pay for this policy. She said she just didn't ever want to be a burden on her family if she were to become ill. She paid in over $80,000.00. She fell and broke her hip 7 months ago and had to go live at a rehab center for almost 3 months. When she was released she then found out she had stomach cancer, she lasted for 3 months and died a horrible death. This company has denied every single claim we have filed. All that money she paid has been for not.
This is such a crime, how is this even possible in the United States of America. Is this how you treat the elderly? I personally am so ashamed of how this country treats these wonderful people and their family. This company is just unbelievable. I can only hope that the CEO's of this company go to that special place. If my mom hadn't already died. This would have surely killed her. I wouldn't recommend this insurance on my worst enemy. So disappointed that this could ever happened to any elderly citizen!
My mother purchased a policy from this company 20 years ago she really couldn't afford it but did without many things in her life just to pay for this policy. She said she just didn't ever want to be a burden on her family if she were to become ill. She paid in over $80,000.00. She fell and broke her hip 7 months ago and had to go live at a rehab center for almost 3 months. When she was released she then found out she had stomach cancer, she lasted for 3 months and died a horrible death. This company has denied every single claim we have filed. All that money she paid has been for not. This is such a crime, how is this even possible in the United States of America. Is this how you treat the elderly? I personally am so ashamed of how this country treats these wonderful people and there family. This company is just unbelievable. I can only hope that the CEO's of this company go to that special place. If my mom hadn't already died. This would have surely killed her. I wouldn't recomended this insurance on my worst enemy. So dissapointed that this could ever happened to any elderly citizen!
My 92 year old mother in law has been paying for this long term care policy for over 30 years and now she has made a claim due to Alzheimer’s & cognitive disability. She would not have been able to even make a claim without family help; so just think about how many elderly never make a claim! It took us almost 4 months, paying elevated monthly premiums, with an independent agent's help to get anywhere. Doctor, home health company and son mailed & faxed the required documents at least 5x while Transamerica kept denying receipt.
Their agent's interview & evaluation said she needed full home health care. Transamerica lied, delayed, gave us different answers every contact & denied our claim. We finally got $200/mo for home care, but now learned we still have to pay $500 premiums. Just imagine how they will treat a claim for Full Care when she needs an assisted living or nursing home. Never have I experienced and witnessed such greed and deceit from a company. Buyer beware of this Insurance Company in ALL forms. We will report them to the Texas Board of Insurance.
My mother and stepfather are having the same exact issues that all of you are having about trying to get claims reimbursed for money that our parents are paying out of their small saving because they thought they had Long Term Care but are having so much trouble getting their claims paid. We have been trying to work with Transamerica for 1 year now to get my mom reimbursed for all the money she has had to pay out to an assisted living facility for my stepfather. They say they never received the paperwork, or they received the paperwork but it was filled out wrong, or your request is being processed, or you should receive your check in about a week. The latest is now, "We believe the assisted living faculty you have your husband in is really a nursing home and those do not qualify!". It is not and they now have told my mother she would have to open a dispute case to challenge them and it is going to take about 3 months!
These people at Transamerica should be put in prison. My parents have never missed a payment for their two policies and it states that if they ever did their policies would be canceled! We should all get together and start a class action lawsuit. My Name is David ** and my email is **. I have filed an online report to Ken Paxton's office the attorney general for TX. https://www.texasattorneygeneral.gov/contact-form/. Transamerica is financially taking advantage of the elderly. My mother has been calling my brother and I crying from frustration and stress because she doesn't know what to do. It really is criminal! Something needs to be done.
I have been paying for a long term care policy 17 years. Several years ago Transamerica bought the company I had. Little did I know about Transamerica... nor could I do anything about it. Now after17 years and I am now 71 years old, they have increased my premium 90%... doubling my monthly cost... and obviously doubling my yearly. I will be paying more for just myself than people I know who are my age & have had their policies the same amount of time or less... & in some instances more than 2 people combined. I took the policy out in California—but do not live there. Transamerica claims that I am bound by California laws & that The California Dept of Insurance actually approved a 90% increase! And guess what... they did. How outrageous is that too. After reading all these reviews... Now I am doubly scared if and when I need it, they will not be there for me. It’s unbelievable that an insurance company can get away with this.
If I could give this company less stars, I would. If I could give them a negative 1000, I would. They are the worst company that I've ever had to deal with. My Mother purchased long term care insurance in 1992. She has paid on this continually over all these years, (over $35,000!) and now when she is living in an assisted living facility, they are denying her claim for the second time. She has met all their criteria, her doctor agreed that she can't live on her own. They sent out a "nurse" to evaluate her and give her a "test" to determine her mental state. She can't drive, can't fix her own meals, can't manage her finances at all, can't remember to take her medication, can't remember the date or day of the week, can't remember who the president of the United States is or even which county she lives in.
This is just the tip of the iceberg. Even proving all this, they still say she doesn't qualify. We are now getting an attorney involved, contacting the Insurance Commissioner and I'm going to make sure I review this company in every place that I can to warn others not to be fooled into getting this insurance. They are crooks that steal money from the elderly that are just trying to keep their loved ones from having to pay for them as they get older. DO NOT GET THIS INSURANCE FROM THIS COMPANY - TRANSAMERICA!!!
Customer service is terrible. No one has an answer or explanation on the claim that was filed in September. Two and a half months later, they denied the claim and we have been trying to resolve the issue ever since. They are SLOW to take ANY action regarding the appeal and dragging this out. Meanwhile, my father's care costs $7200 a month and we have stressed the financial urgency of getting the claim approved. We have jumped through hoops to provide every piece of documentation (stacks of paperwork!) for them, as requested, and I have had to call every week to stay on them. Hoping we don't have to get the insurance commissioner involved, but from the other reviews, I don't have much hope.
Over 14 months trying to get them to pay for long-term care insurance that our family has paid for over 20 years, denied twice. Hired an attorney, denied again, filed complaint with state and filed a lawsuit.
They just want your money! I was enrolled with payroll deductions for Long Term Care Insurance until I retired. I chose to continue my plan by paying, out of my meager pension, a year's premium to avoid the increased cost of breaking up payments. I soon received notice that only HALF of my $1400 payment would be applied to this year, to cover back payments from over 18 months, (that's right, a year and a half) ago, they claim my employer never paid. Now they want an additional $750 or they will cancel my coverage, and keep the $1400 I already sent them. Thieves!
My mother is 97 years old. Been paying for her LTC for 47 years. We should of taken that premium and put into a trust than using this LTC insurance company. I've called 4 times to get address change and never changed - now I've been on hold for 29 minutes and still waiting. Every time I called to find out information for the claim payments, I was always told something else. Today I called and now my mom has to pay out of pocket for 180 days and then they'll start paying. The claims person was rude. Called me rude - I wanted him to listen to me and he would just interrupt and no desire to listen to me. I would suggest to anyone looking for LTC to NOT sign up with Transamerica Insurance Company. GO to Mutual of Omaha or anyone else except these people.
We started my dad's claim in Dec 2016. Now April we still don't have a check. Not only is the wait time for each call unacceptable (over an hour) every time there is one more piece of paper they need. It takes over 3 weeks for them to process every piece of paper they get. They are doing everything possible to delay the payment. In the meantime they still are taking their premiums every month while my folks are paying the outlandish assisted living fees. They have been making premiums for many years and this is their first claim. I assume TRANSAMERICA is trying to delaying in hopes they die and then they can deny the claim. These delay tactics are inexcusable and cruel to elderly consumers. They are thrilled to take the money and promise to be there for you but hmmm where are they now?
My Parents have paid expensive premiums for 20 yrs and always paid the lump sum full amount of premium on time every year. Now, when my dad needs the policy reimbursement for a licensed, state approved Assisted Living facility, they make it impossible to get a reimbursement payment. We have completed ALL the requirements, approvals, interviews and observed their instructions (per their written letters) to date.
We paid the first 90 days out of pocket, when in all reality ends up to be 120 days (because you pay in advance and then get reimbursed 30 days later), due to their constant and neglectful documentation in letters that have little bearing on any timeline agreed to in the policy. They say their customer service department does not talk to the claims department or the billing (payment) department. The customer service people are friendly but seem to be ill trained as every time we speak to them we get a different story.
We have NEVER seen an organization so inept and blatantly ignorant to a senior citizen's needs. My father had a brain tumor, If he didn't have a family working on this issue for hours and hours a week he would never get his claim processed. They say they process their claims in 10-15 business days (as stated in their written documentation) processing time is actually 30 days. We have had only one and a half months of claims that have been reimbursed. We are still waiting for 2 months of payments.
I can only assume that their inefficiency in processing their claim and their incompetence in losing faxes and asking for forms multiple time is by plan to frustrate and delay payments. Not to mention, there is never a resolution for the amount of time one waits to get a resolution, payment, or valid reasoning to the delay. When you call you receive a message that they are experiencing heavy call volume and "your call is important to us" then you stay on hold for up to 2 hours. So your call isn't really that important to them! Once we did get a message after being on hold for an hour that they would call us back. They did but then you still wait on hold for another 15 minutes.
I could not imagine any senior citizen trying to deal with this company. I find it to be highly disrespectful, EXTREMELY poor business ethics and downright criminal to their policyholders and family trying to help. I would NEVER recommend Transamerica to anyone, EVER, for ANY insurance policy. Shame on you, Transamerica!
Transamerica expert review by Matthew Brodsky
Transamerica offers a range of services that go well beyond insurance products. The company is a leading financial services company and offers everything from investment advice to insurance.
Nationwide services: Transamerica writes policies in every U.S. state.
Long-term care is a family discussion: They understand the need for family involvement in end-of-life care decisions and engage all members in the decision-making process.
Cost calculator: Before deciding on any insurance product, it's important to learn about cost vs. savings, which Transamerica provides using their cost of care and life expectancy calculators.
Learning center: Transamerica offers a learning center on its website to provide consumers with resources about insurance and the other services they offer.
All-in-one health insurer: In addition to their long-term care insurance products, Transamerica also offers a variety of life insurance products, Medicare solutions, accidental death insurance and even final expense coverage.
Best for: Parents, retirees and the elderly.
Transamerica Long Term Care Insurance Company Information
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