Universal coverage is one of the most cost-effective ways to guarantee lifetime premiums and a death benefit that won’t decrease. Trendsetter LB: Up to $2 million of coverage and accelerated death benefits for critical, chronic, or terminal illness in qualifying cases.Īmong the many types of permanent life insurance, the most basic and affordable is universal life insurance.Trendsetter Super: Up to a $10 million death benefit and the option to convert to permanent coverage, potentially without a medical exam.These policies come with level premiums and a death benefit, with term lengths between 10 and 30 years. Transamerica’s term life insurance policies provide you with flexibility, affordability, and robust coverage at just the time you need it.Ĭoverage ranges from $25,000 to $10 million and potentially higher on a case-by-case basis. Let’s take a closer look at each policy and what it has to offer. Transamerica also has an impressive policy lineup, with life insurance products to meet every need. The turnaround time for underwriting is reasonable, though it may take a bit longer than the industry average in more complicated underwriting situations. Larger policies will warrant a quick paramedical exam, which can be scheduled at your convenience. If you’re applying for less than $100,000 of coverage, you may not be required to undergo a medical exam depending on your risk factors. When you search for quotes from Transamerica, you’ll be prompted to fill in a few details about yourself.īased on your answers, you’ll be presented with quotes and told whether or not you’ll have to undergo a medical exam.įrom there, you can contact an agent to start the application process, which will begin with a phone interview.
#Transamerica life insurance update#
While most policyholders can update their address online, the changes below have to be made by phone or mail:īeneficiaries may also have a hard time locating important forms for claims and other policy updates on the site as they aren’t easy to find. Transamerica’s website functionality is a bit more limited for policyholders. You can find essential information about Transamerica’s life insurance plans, such as policy names and benefit amounts.īeyond those details, you can calculate your life insurance needs and get quotes. Transamerica’s website provides the basic details you might expect about the company and its financial products. While Transamerica is not BBB-accredited, their “ A-” ranking with the Better Business Bureau does indicate the company is dedicated to settling customer complaints. In all categories but pricing, Transamerica scored a 2 out of 5, indicating its customer service is below average. The study looks at factors like a company’s website, application process, communication with clients, price, and products. Power Life Insurance Study is one of the best measures of a company’s user experience, as its ratings are based on a survey of actual customers. Power and the BBB rated Transamerica’s user experience as follows: To assess Transamerica’s user experience, we looked at its website, application, and ratings. In addition to providing affordable coverage, life insurance companies should make researching their policies and applying for them quick and easy.
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