Is Transamerica FDIC insured?
Asked by: Faustino Schulist | Last update: November 22, 2025Score: 4.2/5 (42 votes)
How trustworthy is Transamerica?
Transamerica life insurance is a trustworthy company with solid financial strength ratings. The company boasts an A rating for financial strength from AM Best, an A1 rating from Moody's, and an A+ rating from S&P Global.
What bank owns Transamerica?
Part of the Aegon family
Based in The Netherlands, Aegon has been a leader in the space since 1844. They acquired Transamerica in 1999, and today, we're proud to represent their U.S. operations and largest market.
How stable is Transamerica?
Financial Stability
Transamerica has an A rating with AM Best, meaning it has a superior ability to pay out its future insurance obligations.
Is Transamerica insured by FDIC?
Not Insured by FDIC or Any Federal Government Agency. May Lose Value. Not a Deposit of or Guarantee by Any Bank.
The bad side of Universal Life Insurance
What insurance company did Transamerica take over?
In 1928, he consolidated his bank into what would become Bank of America. Two years later, the organization acquired the Occidental Life Insurance Company through the newly created holding company, Transamerica Corporation. In 1946, Giannini's bank became the largest private bank in the world.
What is the outlook for Transamerica in 2024?
2024 and 2025 year-end forecasts
Transamerica Asset Management's economic and market forecasts for 2024 and 2025. They include positive GDP growth of 2% in CY 2024 and 2.5% in CY 2025. A lower bound, year-end federal funds rate of 4.75% by year-end 2024, and 4% by year-end 2025.
Can you withdraw all your money from Transamerica?
You may take all of your money out of your retirement plan by taking a lump-sum distribution, but you may lose a substantial amount of your savings in the process. Once you take all of your money out of your retirement plan, you lose your tax-deferred investment benefits.
What type of insurance company is Transamerica?
Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services.
What is Transamerica called now?
Aegon USA Investment Management, LLC is an affiliate of Aegon companies. Transamerica companies are part of the Aegon group.
Is Transamerica a fiduciary?
Transamerica does not act as a 3(16) fiduciary. Before adopting any plan, sponsor should carefully consider all of benefits, risks, and costs associated with a plan. Information regarding retirement plans is general and is not intended as legal or tax advice.
Is Transamerica and Vanguard the same?
The Vanguard Variable Annuity is a flexible-premium variable annuity offered by Transamerica Premier Life Insurance Company (the “Company”).
Is Transamerica part of Bank of America?
In July 1999 Transamerica was acquired by Aegon NV, an insurance company in the Netherlands. The company, incorporated in 1928, originated as the parent of Bank of America, and for many years banking was its principal activity.
Has Transamerica ever been sued?
On December 28, 2018, Sanford Heisler Sharp McKnight filed a class action lawsuit against the Transamerica Corporation for violations of fiduciary duties under the Employee Retirement Income Security Act (ERISA).
Does Transamerica charge fees?
Yes. Almost 100% of Transamerica's fees are revenue-sharing or variable annuity wraps. These are “hidden” fees in their 401(k) plan that can reduce the returns of plan holders.
What is the rule of 55 for Transamerica?
If you are under age 59½ when you withdraw money from your retirement plan, you may have to pay a 10% early withdrawal penalty. For withdrawals from an employer's plan, the penalty may not apply if you: Leave your employer in the year you turn age 55 or later.
How strong is Transamerica?
Transamerica customer satisfaction
Transamerica received an A (Excellent) rating for financial strength. In contrast, Transamerica scored poorly in the J.D. Power 2023 U.S. Individual Life Insurance Study for overall customer satisfaction.
How long does Transamerica take to pay out?
All distribution approvals received by Transamerica before 4:00 p.m. Eastern Time are processed overnight, and the payment is released the very next business day. An interactive User's Guide that covers the Loan and Termination Distribution process is available on www.TA-Retirement.com behind login.
What is the financial outlook for 2025?
For 2025 real GDP growth, the highest forecasted value is 2.7% and the lowest is 1.5%. The average of the top 10 forecasts for GDP growth (most optimistic) is 2.5% while the average of the bottom 10 (most pessimistic) is only 1.9%.
What is the outlook for the 2024 Cola?
The 2024 COLA for Social Security benefits will increase by 3.2%. This is compared to an 8.7% increase in 2023. For the average retired worker receiving benefits at full retirement age, the COLA will increase their payment by $59 a month, from $1,847 to $1,906.
What is the financial outlook for 2024?
In this context, we foresee real GDP growth decelerating modestly from 2.7% in 2024 to 2.1% in 2025 and 1.7% in 2026 — when tariffs pose a greater drag on the economy.
Who is the owner of Transamerica?
Transamerica Corporation is an indirect, wholly owned subsidiary of Aegon Ltd.
Is Transamerica an annuity?
Transamerica Advisory Annuity℠
You can purchase a variable annuity directly from us with the Transamerica Advisory Annuity. It features investment options that allow you to potentially grow your money tax-deferred. What's more, the annual costs are more than 70% lower than the industry average.