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Transamerica sells term and permanent life insurance, including whole and universal policies. Coverage for its term life insurance is up to $10 million, and permanent life insurance coverage is up to $2 million. Transamerica accepts applications from anyone between 18 and 80, with term coverage extending up to 90 years old. Consumers can add multiple riders to their policies, including accidental death or disability coverage.
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Transamerica is antiquated and has horrible customer service. They require tons of paperwork to qualify a claim and insist the only means of delivery is mail or fax. Hello! It's 2021 the digital age. I call and their automated system can't find my policy number. I get a different story every time I call. "We don't have the documents you sent". "The docs have not been processed." "The file is under review. Check back in a week." "Your claim was approved, but we need more documents." They obviously make it as difficult as possible to delay and try and avoid paying claims. Not the kind of treatment anyone wants let alone when you're dealing with long term health care problems.
I am writing in January 2021. Transamerica Long Term Health Care Division only communicates through snail mail and FAX (again--in the year 2021!) They have ONE phone number for all policy holders. You cannot contact anyone--not even your case manager--directly. Therefore, if you just want to leave a message or have a simple question, you still have to go through a microscopic tunnel for which the wait time yesterday to speak to an agent was between 5-7 hours. I opted through their automated service to receive a call back, for which the soonest time was the next day. I took it. Upon answering the automated callback, I was put on hold for 30 minutes waiting for the next available agent.
I have been trying to get reimbursed for round the clock healthcare since last June and have yet to reach anyone about the hold up. This is obstructionist. Why on earth can't I have a direct phone number or an email? Once again, their policy is mail or fax as I am repeatedly told. Transamerica's outgoing communications are only by snail mail as well. No one ever calls to give you an update, or inform you of denied claims or missing information. When you receive the snail mail and call to address (or rant) you have to get through to the one telephone number and the wait time AGAIN. Having faxed all the information they need several times, and finally reaching an agent 36 hours after my call yesterday, I am told it will be 15-20 business days before my fax is processed. What is going on over there? This seems illegal.
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Both my parents held long term care policies with this company. When the time came for my mom to use hers it was such a pain. She used it for 7 months and every month I had to call to ask where her reimbursement was? I got the feeling their policy was that they did not pay/release funds till the very last minute possible and often they had excuses or errors as to why the reimbursement had not been released. After we started using her policy she no longer was required to pay premiums but six weeks after informing them of her passing I received a bill to begin paying for her long-term care again! At first, I thought this was just an insensitive and unfortunate mistake but after calling them I was informed that this was a common occurrence and that their system automatically sends out a bill after a death. What?! In this day and age, how can that not be prevented? Unbelievable. Very disappointed. Would not recommend this company.
Dealing with Transamerica has been the single most time-consuming, frustrating and unfruitful financial aspect dealing with my father's terminal illness and death. Transamerica has repeated lost documents, delayed payments, sent checks made out to blatantly incorrect and randomly chosen versions of his name (and therefore cannot be deposited/cashed), sent check in amounts not related to care-provider invoices or with varying amounts withheld for no reason. It's been 10 months since they approved the initial claim and have yet to actually payout more than half of it. What good is insurance if they don't actually provide the benefit? This feels much more like a scam than a real company. Transamerica is the slumlord of insurance providers.
My father purchased this plan and kept it to maturity. The contract he has is older from another company that was purchased by Transamerica. He has been unable to perform his ADL on his own for some time. He was getting regular service to help with the things he couldn't do for almost 3 years. Suddenly at the end of 2019, he was denied for exact same service he was approved for years. His condition has only degenerated with time.
We found that the issues started shortly after Transamerica transferred its claims and benefits department to a third party, LTCG (Long Term Care Group). It is impossible to reach them except by phone, fax, or regular mail. They deny based on the smallest things on a nurse's note or care note. We have been able to win some appeals, but it seems their tactics are deny, and hope the old person doesn't have an advocate. This seems like a tactic, not just incompetence. I'd highly recommend steering clear unless you're a class action lawyer looking for a good target. I'd bet good money there are internal documents that detail these systems of delay, deny, and confuse to reduce claims to increase profits.
As the gentleman from Rapid City has stated, this company seems to do nothing but find excuses for non payments. I have talked with this company no less than 15 times since August of 2019 trying to get reimbursements for my mother. It’s always some excuse as to why no payments have been made. One of the biggest was that they didn’t have enough information from the health care facility even though she has been there for over a year! But to add to the frustration, they had not reached out to me nor the facility. I called this morning, again, to see where we are? The rep told me that the claim was approved for payment on March 24th.
Great I thought finally, but wait, she said that she needed to see if they had the invoices to back up the claim. Well after waiting as she looked for them, she said she would send them over to her supervisor for review! Explain to me why in the hell hasn’t this already been in the system since August waiting to be processed? I hate to say this but even though insurance companies claim there is no death squad waiting for folks to die to avoid paying, I need more proof!!!
DO NOT BUY A TRANSAMERICA POLICY! They seem to intentionally make administration of claims as bureaucratic and time consuming as possible. Transamerica has a contact flow that makes it as difficult as possible to reach a decision maker and resolve issues. They do not allow any email interaction and there is no way to call a specific individual. Every interaction requires a restart and a lengthy wait on hold and frontline interaction with people who have no authority other than to recite policy, encourage you to put a letter in the mail and apologize for not being helpful. It's all appears to be a game of stalling, exhausting and outwaiting claimants - not a good faith effort to resolve issues.
After paying for the top of the line, most expensive long-term care insurance you could buy since the 1980s, and collecting for 7 years while in assisted living, my dad was dropped WHILE STILL IN ASSISTED LIVING when Transamerica deemed him no longer needing assistance. He became eligible in 2012 after a stroke at 81 and many more mini-strokes. Then at almost 90 years of age, my dad was suddenly deemed ineligible. What a joke! At this very time he was ironically getting many services because he had just gotten out of the hospital and rehab for broken pelvic bones. It was so disgusting and infuriating that when he needed it more than ever Transamerica let him down!
It has been an ordeal for months, appealing their denial of benefits multiple times, only getting results after contacting the Insurance Commissioner and a lawyer. I am meanwhile glad that my dad, who now has dementia, is oblivious. When he was younger and at his full capacity, Transamerica would have caught hell from him. He worked so hard and prepared so well for retirement and old age, that to have this despicable, cheapskate company try and cheat an elderly customer is a disgrace. I suppose they are counting on elderly folks not to notice. But to miss $11K a month for his long term care? We noticed. All I can say is LOOK ELSEWHERE. Don't trust Transamerica!
My parents have paid on their policy since 1978. My mom has severe dementia and we can’t even get a bath charge for $40 two times a week approved. They have been reviewing our claim since October and continue to drag it out and pay nothing. They say a supervisor will call but they never do. I wouldn’t buy long term care from TransAmerica under any conditions.
My parents were both approved for the assisted living facility TransAmerica approved conditions for in 2014. Total premiums paid until this date were more than $100,000. Today, I received a call that, due to the latest TransAmerica contracted nurse's assessment, my 87 year old mother is no longer eligible for her benefits! So, this is how they made this determination: the contract nurse, who made this same assessment in 2018, has suddenly changed her 2019 assessment. Instead of contacting my mother's physician who made the primary diagnosis in 2014, detailing the necessary conditions for her approval, the designated TransAmerica employee called the facility and spoke to a CNA floor employee, who in a two minute conversation, indicated that my mother was "totally independent with her activities of daily living."
Why did they not contact the physician who made the first accepted referral in 2014?? We have access to a family corporate attorney who can rectify this situation, but please beware that this company will take advantage at the first opportunity. We are considering class action, as per the Dupont, Chemours teflon action. This is nationwide and rampant.
Transamerica author review by Matthew Brodsky
Transamerica offers a variety of life insurance and products for retirement solutions, mutual funds, annuities and employee benefits.
Long-term care coverage: The company’s plans cover in-home care, assisted living/adult day care, nursing home, respite, hospice and medical help systems.
Supplemental insurance: Select from a variety of plans to cover costs associated with nursing home facilities and home health care. Get coverage at any age with a three-year automatic rate guarantee.
Learning center: Transamerica offers a learning center on its website to provide consumers with resources about insurance and the other services the business offers.
Cost calculator: Transamerica provides free tools to project the cost of care over your lifetime.
Transamerica app: Through the app, you can track your retirement account and manage your financial wellness.
Nationwide services: Transamerica writes policies in all 50 states.
Transamerica Long Term Care Insurance Company Information
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