What happened to Transamerica life insurance?
Asked by: Prof. Alycia Sporer II | Last update: February 11, 2022Score: 4.3/5 (31 votes)
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.
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 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.
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.
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.
Transamerica Life Insurance Review [3 Minute Breakdown]
Is Transamerica trustworthy?
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.
Who bought PFL life insurance company?
1. PFL, a stock life insurance company incorporated under the laws of the State of Iowa, is a wholly-owned indirect subsidiary of AEGON USA, Inc., which conducts substantially all of its operations through subsidiary companies engaged in the insurance business or in providing non-insurance financial services.
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.
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).
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.
Can I Cancelling my Transamerica life insurance?
Cancellation Policy
To cancel your policy, contact your Transamerica agent or call Transamerica's customer support team.
Can I cash out my 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.
How long does it take to get a check from Transamerica?
A check will be generated within two days after the loan is processed. Transamerica will mail the loan paperwork (the Loan Note and Security Agreement, Amortization Schedule and Withdrawal Confirmation) and the loan check to the plan sponsor.
Is Transamerica a mutually owned company?
Get to Know Our Leadership. As an indirect, wholly owned subsidiary of Aegon N.V., Transamerica has a Board of Directors that features the CEOs of both Transamerica and Aegon, as well as other independent members who help oversee the business.
How do you contact Transamerica?
The Call Center at Transamerica is ready to assist you Monday through Thursday, from 7:00 a.m. until 6:00 p.m. and 7:00 a.m. until 5:00 p.m. on Friday, Central Time at the following numbers, (888) 763-7474 or TransConnect Customer Service (866) 224-3100.
What is the grace period for Transamerica Life insurance?
If any premium is not paid according to schedule, the policy will enter the 31-day Grace Period.
Is Transamerica insured?
Transamerica offers two types of term life insurance policies, with terms of 10, 15, 20, 25 and 30 years available. The Trendsetter Super policy offers up to $10 million in coverage — or even more, depending on individual circumstances.
Is Transamerica part of Aetna?
Transamerica Life is no different when it comes to claims and customer service. ... Aetna has the same network as Transamerica Life as does United Healthcare and so on. Most people are familiar with Transamerica and their A+ rating goes a long way to comfort potential policy owners.
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.
How do I claim my Transamerica life insurance?
1. Contact the Transamerica Claims Customer Service Department at: 888-763-7474. 2. Have all claim information ready to provide.
Did Transamerica buy monumental life?
Monumental Life Insurance was rolled into Transamerica in 2014. Transamerica sells term, whole, universal, indexed universal, and final expense insurance. The company has a variety of different riders for policy customization.
How do I file a claim with Transamerica life insurance?
Please call us toll-free at 1-888-345-0234 if you would like to speak with a Claims Representative.