Is Transamerica trustworthy?

Asked by: Lon Botsford  |  Last update: February 11, 2022
Score: 4.1/5 (52 votes)

Out of 23 companies, Transamerica scores 747 out of a possible 1,000 points in the 2021 Individual Life Insurance study from J.D. Power, which is considered well-below average. Transamerica also has an above-average number of customer complaints according to the National Association of Insurance Commissioners (NAIC).

Can Transamerica be trusted?

Transamerica is a trustworthy life insurance carrier and has earned high financial strength ratings. It also offers a wide selection of life insurance policies: term life, whole life, indexed universal life, and final expense insurance.

Is Transamerica a good company to invest with?

TransAmerica offers safe choices in the form of fixed rate interest and money market funds. However, they provide relatively modest returns. A quick review of the fixed interest fund shows a return of about 2.5%, which was about a percentage point below the prime rate at the time of this review.

Is Transamerica a real company?

Initially founded as a bank in 1904, Transamerica has grown to be a large financial services company. ... Transamerica offers retirement solutions, such as individual retirement accounts (IRAs), mutual funds, employee benefits, and group and individual life insurance policies.

Is Transamerica life insurance company a legitimate company?

Transamerica earned 3 stars out of 5 for overall performance. NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account customer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.

Transamerica Life Insurance Review [3 Minute Breakdown]

41 related questions found

What type of company is Transamerica?

The 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.

Is Transamerica going out of business?

Transamerica will no longer have operations in California, though the company still owns the Transamerica Pyramid in San Francisco and will continue to serve customers in California. ... The company was long based in San Francisco.

Is Transamerica a broker dealer?

Transamerica Financial Advisors, Inc. (TFA) is a broker-dealer and registered investment advisor located in the United States that's in the business of helping people. ... (TFA), Member FINRA, SIPC, and Registered Investment Advisor.

Is Transamerica part of fidelity?

Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company are not affiliated with Fidelity Investments.

Is Transamerica a mutual or stock company?

Transamerica Corporation provides insurance services. The Company offers insurance, mutual funds, annuities, and retirement products and services.

What happened to Transamerica?

In 1999, Transamerica was acquired by the Aegon Group, one of the world's leading providers of life insurance, pensions, and asset management. Aegon's almost 22,200 employees support more than 30 million customers worldwide.

Is Transamerica like Primerica?

Transamerica is an Insurance Company. Primerica is an Insurance Marketing Organization that represents different Insurance Companies. Primerica is one of the early companies to do that fool theory of Buy Term Life insurance and invest the difference.

Does Transamerica have a Roth IRA?

and Transamerica or its affiliate, TISC. AM I ELIGIBLE? If your retirement plan allows it, anyone who can save through a traditional pretax plan can fund a Roth account. And unlike a Roth IRA, there are no income limits on Roth eligibility.

Who took over Transamerica?

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.

Is Transamerica leaving Baltimore?

The move to vacate the Transamerica offices comes as the one-year milestone nears for Covid-19, and several businesses are re-evaluating space needs after working remotely since last March. Transamerica's lease at the property expires in October, according to CoStar.

Did Transamerica get bought out?

Aegon N.V., a big Dutch company that has been on a shopping spree in the fiercely competitive life insurance business, said today that it was buying the Transamerica Corporation of San Francisco for $9.7 billion in cash and stock.

Do I get money back if I cancel my term life insurance?

If you cancel or outlive your term life insurance policy, you don't get money back. However, if you have a "return of premium" rider and you outlive the policy, premiums will be refunded.

Is Transamerica still around?

Located at 600 Montgomery Street in the heart of one of the city's most storied sections, the iconic Transamerica Pyramid is still recognized internationally today for its distinctive structure.

What kind of insurance is Transamerica?

Transamerica offers the choice of several term life insurance policies. Our term life policies offer term periods ranging from 10 to 30 years separated by five-year increments and can provide customers with financial protection anywhere from $25,000 up to $10 million (and above based upon individual consideration).

What do Transamerica financial Advisors do?

Transamerica Financial Advisors offers asset management, life insurance and financial advisory services to its clients. The advisors can manage client funds both on a discretionary basis, where they can make trades on their own, or on a non-discretionary basis, where clients need to approve all trades.

Can I withdraw money from Transamerica life insurance?

The policy owner may access the cash value through loans or withdrawals. Both loans and withdrawals will reduce the cash value and death benefit. Loans are subject to interest charges. Under certain circumstances, there may be tax consequences in taking a loan or withdrawal.

Is Transamerica part of Aegon?

Transamerica companies are part of the Aegon group. 1801 California St. Suite 5200, Denver, CO 80202.