Transamerica Life Insurance

Transamerica provides a variety of solutions to meet your coverage needs for life insurance, which is crucial for providing for your family after your passing.

In 1904, a bank called Transamerica was established in San Francisco. In addition to a range of life insurance plans, Transamerica now offers retirement services, mutual funds, and annuities. Companies and individuals can use services. Transamerica’s current corporate headquarters are in Cedar Rapids, Iowa, even though the business still maintains offices in its distinctive pyramidal building in San Francisco.

Life Insurance Review For Transamerica

Within the subcategories of term, whole, and indexed universal life insurance, Transamerica offers a number of products. You can also tailor your insurance to receive the coverage you require by choosing from a range of riders. However, compared to other life insurance companies, Transamerica offers fewer products altogether.

The majority of insurance start at $25,000 in coverage. Whole and indexed universal life insurance may accrue tax-deferred cash value that you can access during your lifetime in addition to the tax-free death payout. Premiums for term and whole life insurance are assured, allowing you to plan your finances accordingly.

Given the few available online resources, which include a coverage estimator and customer service portal, you could find Transamerica’s website to be insufficient.
To obtain complete information about any insurance policy and to make a purchase, you must speak with an agent.

How Much Does Life Insurance Cost For Transamerica?

Transamerica determines your risk value and life insurance costs based on a variety of factors, just like all other life insurance providers. These include your age, place of residence, previous medical history, kind of coverage, and level of coverage. Term insurance typically costs less than permanent life insurance like whole or universal life insurance because it isn’t permanent coverage and doesn’t accrue financial value.

Life Insurance from Transamerica Cost for Seniors?

Because your mortality risk rises as your health deteriorates, life insurance premiums are normally greater as you become older. But according to our review, Transamerica gives seniors affordable pricing. In fact, Transamerica’s rates are more reasonable for you than those of its rivals because they are below average.

Life Insurance from Transamerica Cost for Smokers?

Smokers frequently pay substantially higher rates than non-smokers since tobacco usage is a significant component that Transamerica takes into account when determining your risk value. A 35-year-old male smoker would pay $163.40 a month for a policy with the same coverage, but a 35-year-old male non-smoker would pay just $74.82.

Options For Term Life Insurance From Transamerica

✅ Offered in 10-, 15-, 20-, 25-, and 30-year terms.

✅ Guaranteed to have level monthly premiums.

✅ Available with coverage starting at $25,000.

✅ Only available through an agent.

Trendsetter LB policy:

✅ Coverage goes up to $2 million.

✅ Provides living benefit.

Trendsetter Super:

✅ Coverage upwards of $10 million.

✅ Available for customers ages 18 to 80.

✅ Offers online estimates.

✅ Can be converted to a permanent life policy.

Options For Whole Life Insurance From Transamerica

✅ Offered in lifetime coverage periods.
✅ Only available through an agent.
✅ Guaranteed to have level monthly premiums.
✅ These insurance plans offer a tax-free death benefit and a tax-deferred cash value that can be accessed during the insured’s lifetime.
✅ Your whole life insurance coverage could expire if you cease making premium payments.
✅ You might be able to change your current insurance’s cash worth to a different policy if you are no longer able to afford the premiums on it.

In addition

✅ Available with coverages between $25,000 and $2 million.
✅ Available with coverages ranging from $1,000 to $50,000 for the last expense insurance and between $25,000 and $2 million for the entire life policy.
✅ For the final expense policy, issue ages range from infancy to age 85 based on state regulations and other factors.
✅ Whole life policy premiums have a lifetime payment term period.

Options For Universal Life Insurance From Transamerica

✅ Offered in a lifetime coverage period.
✅ Offered with flexible premiums.
✅ Only available through an agent.

In addition:

✅ To generate basic interest, the index universal life insurance policy can be divided among three separate index accounts.
✅ Although a policyholder has the option to surrender the insurance or let it lapse, Transamerica offers coverage as long as premium payments are kept up to date.
✅ This policy has a custom premium payment term period.
✅ Death benefits are paid in a lump sum or installments.
✅ Financial benefits include a tax-deferred cash value and a tax-free death benefit.
✅ This policy provides a cash value that can be accessed during the insured’s lifetime.

What is covered by Transamerica’s life insurance?

A variety of riders are available from Transamerica to extend the scope of your policy’s protection. Chronic sickness, critical illness, and terminal disease accelerated death benefit riders are all covered by living benefit riders and can all be used while the policyholder is still alive. An accidental death benefit rider, a children’s benefit rider, a disability waiver of premium rider, an income protection option, a guaranteed insurability benefit rider, and a term insurance rider are additional riders for tailoring your policy. Make careful to explore these riders with your adviser before buying a life insurance policy so you can decide if they are appropriate for you.

Life Insurance pay for death by suicide?

Generally speaking, state regulations governing payout for suicide deaths bind life insurance companies. The majority of the time, claims can be made by policyholders who have had their policies for longer than two years. To learn more about Transamerica’s policy, which may differ depending on the type of policy and the state, get in touch with the company or an insurance agent directly.

Cover a drug overdose?

In general, state laws governing payment for a drug overdose bind life insurance companies. The majority of the time, claims can be made by policyholders who have had their policies for longer than two years. To learn more about Transamerica’s policy, which may differ depending on the type of policy and the state, get in touch with the company or an insurance agent directly.

Can you get life insurance from Transamerica if you have cancer?

A history of cancer does not automatically disqualify applicants. According to Transamerica, eligibility depends on a variety of variables.

How can Transamerica help me purchase life insurance?

You must speak with a certified agent in order to obtain a Transamerica life insurance policy because the company does not provide its products online.
By entering your ZIP code and the kind of insurance policy you’re interested in on the company’s agent locator website, you can find a Transamerica representative nearby.

Transamerica documentation are often available electronically, though availability may vary by product. Transamerica insurance cannot be purchased online.