Male
$35 /month
Female
$24 /month
Bottom line: Transamerica life insurance offers term life, whole life and universal life policies, but has a high number of complaints.
Rating Breakdown
Financial strength rating
Strong
Online purchase
No
NAIC complaints
Far more than expected
Policies offered
Term, permanent & no-exam
A good fit for high net worth individuals who want term life policies worth $10 million or more.
If you aren’t a high net worth individual or foreign national, consider Guardian for term life and MassMutual for whole life insurance.
About Transamerica life insurance
Transamerica offers quite a few term and permanent life insurance options that cater to high net worth individuals (HNWIs), but the company doesn’t have the best reputation among customers.
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 consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
» MORE: Best life insurance companies
Where Transamerica stands out
Transamerica stands out for its range of individual life insurance policies and riders. In some cases, applicants may qualify for millions of dollars in coverage without a medical exam.
The company offers term life policies that tip the scales at $10 million or more and indexed life insurance tailored to HNWIs. If you’re a foreign national from a qualifying country, you may also be able to apply for a Transamerica policy.
Where Transamerica falls short
Transamerica has a higher ratio of customer complaints than expected for an insurer of its size. If you want to compare rates across policies, you’ll have to contact Transamerica directly as the system only supports online quotes for Trendsetter Super term life policies. Some indexed universal life policies are not available in New York.
Transamerica life insurance policies
Term life insurance. Transamerica offers two types of term life insurance lasting 10, 15, 20, 25 or 30 years.
📑 Trendsetter Super offers up to $10 million in coverage — or even more for qualifying applicants.
📑 Trendsetter LB offers up to $2 million in coverage and allows policyholders to access some of the money while they're alive if they're diagnosed with a chronic, critical or terminal illness.
Whole life insurance. The company sells whole life insurance policies worth up to $2 million. You can add a range of riders to your coverage, including accelerated death benefit, term life, waiver of premium and child term riders.
Transamerica also has a final expense insurance policy, with coverage from $1,000 to $50,000 depending on your age. Buyers can apply up to age 85.
Indexed universal life insurance. With indexed universal life insurance (IUL), policies build cash value based on the performance of a market index, such as the S&P 500. Transamerica offers two types of IUL coverage:
📑 Financial Choice is geared toward high net worth individuals and provides more index options, with coverage starting at $250,000.
📑 Financial Foundation is marketed as a multipurpose life insurance option for families and has a minimum policy amount of $25,000.
You may be able to add riders to your coverage, such as a guaranteed insurability or concierge planning rider.
Group life insurance. The company sells group life insurance through employers.
Life insurance for foreign nationals. If you’re a foreign national and work in the United States, visit often or own property in the country, you may qualify for one of Transamerica’s policies. You must be from one of over 40 qualifying countries to apply.
» MORE: Compare life insurance quotes
Transamerica sample life insurance rates
Below are monthly rates for a 20-year, $500,000 term life insurance policy from Transamerica. These are sample rates for a nonsmoking man and woman in excellent health — the final quote you’re offered will depend on factors like your age, health, lifestyle, occupation and driving record.
Age | Monthly rate - man | Monthly rate - woman |
|---|---|---|
20 | $32.30 | $15.73 |
30 | $23.38 | $15.73 |
40 | $34.85 | $23.80 |
50 | $82.88 | $54.40 |
60 | $224.83 | $140.25 |
70 | $928.63 | $700.83 |
Source: Insurer's site. Rates reflect the super preferred class and were generated on 10/15/25. | ||
Transamerica customer complaints and satisfaction
A strong sign of consumer satisfaction is how many people complain about their insurance company to state agencies. Over three years, Transamerica has drawn far more than the expected number of complaints to state regulators for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
Transamerica ranked No. 18 out of 22 companies for customer satisfaction in J.D. Power's 2025 U.S. Individual Life Insurance Study.
- What Reddit users say about Transamerica
Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like life insurance, so we sifted through Reddit forums to get a pulse check on how users feel about insurers. People post anonymously, so we cannot confirm their individual experiences or circumstances.
Reddit users have mixed feelings about Transamerica. Some Redditors mention the company can be slow to respond to questions, while others say Transamerica takes a long time to pay out the life insurance death benefit. We also saw several comments saying Transamerica uses pushy sales tactics, as well as questions about whether whole life insurance is a good investment.
How Transamerica compares to other insurers
Transamerica | Corebridge | Globe Life | |
|---|---|---|---|
Star rating | |||
Financial strength | Strong. | Strong. | Strong. |
NAIC complaints | Far more than expected. | Far more than expected. | Far more than expected. |
J.D. Power ranking | #18 out of 22. | #19 out of 22. | #9 out of 22. |
Policy types offered | Term, permanent, no exam. | Term, permanent, no exam. | Term, permanent, no exam. |
Online experience | Can get a quote for some policies online, as well as file a claim. | Can get a quote for some policies online. | Can apply for and buy a policy and change beneficiaries online. |
Transparency on website | Above average. | Above average. | Average. |
Read full reviews |
More about Transamerica
On the Transamerica website, you can read detailed information about the company’s policies. Online quotes are available only for the Trendsetter Super plan.
Transamerica offers additional financial products and services, including:
Annuities.
Mutual funds.
Retirement planning.
Workplace benefits.
How to contact Transamerica
Transamerica can be reached by:
Phone: Call 800-797-2643 on weekdays from 9 a.m. to 6 p.m. ET.
Email: Fill out the contact form via the website.
Live chat: Not available.
Frequently asked questions
What is the “surrender value” of a Transamerica life insurance policy?
What is the “surrender value” of a Transamerica life insurance policy?
Permanent policies, like whole life insurance, accumulate cash value over time. Once you’ve built up enough, you can start to borrow against or withdraw money from your policy. But if you no longer need life insurance, you can cancel your policy and collect the cash surrender value. The amount of money you’ll get is the cash value minus any policy loans, prior withdrawals and surrender fees, which are typically charged if you terminate your coverage within the first 10 to 15 years.
Can I extend my Transamerica term life insurance policy?
Can I extend my Transamerica term life insurance policy?
In general, term life insurance policies expire at the end of the “term” — so if you have a 20-year policy, your coverage will end after 20 years. If you still need life insurance, you can buy a new term life policy, though your premiums will likely be higher. You might also look into annual renewable term life insurance, a type of policy that renews year-over-year.
Convertible term life insurance policies allow you to upgrade to permanent life insurance before a deadline. With many insurers, including Transamerica, you’ll need to do this within the first few years of buying the policy or by the time you reach a certain age.
Can I manage my Transamerica life insurance policy online?
Can I manage my Transamerica life insurance policy online?
You can access some Transamerica information online, including payment history and policy documents. But if you need to take an action like changing beneficiaries, you’ll need to download forms and submit them through the insurer’s portal or via email.
Article sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- 1.J.D. Power. 2025 U.S. Individual Life Insurance Study. Accessed Dec 17, 2025.
How we rate the best life insurance companies
✅ 445 life insurers reviewed
📝 210 policies assessed
🔢 1,515 data points analyzed
📊 Star rating categories
When NerdWallet evaluates life insurance companies, our editorial team considers the insurer's strengths and weaknesses, as well as the things that matter most to customers buying a long-term financial product. We then weigh these factors carefully:
💰 Financial strength (35%). We use AM Best ratings to confirm an insurer’s financial stability and ability to pay claims far into the future. The top life insurance companies have an exceptional financial strength rating of A+ or A++ (Superior).
🗣️ Consumer complaints (35%). Our top-rated life insurance companies have fewer than the expected number of complaints to state regulators over a three-year period, according to the National Association of Insurance Commissioners — so you can expect a smoother customer experience.
☎️ Consumer experience (20%). Insurers who allow consumers to contact them by email, phone and live chat earn the highest scores. The same goes for insurers who support online quotes, beneficiary changes and claims.
👀 Transparency (10%). Our methodology gives higher scores to transparent insurers who clearly display information about their policy options, coverage amounts and term lengths (if applicable) on their site.
⭐ What our star ratings mean
Companies with 5 stars are exceptional, with strong financials, diverse policy lineups and great reputations for customer service.
Companies with 4.5 stars are excellent, with solid financials and policy offerings, and good customer service track records.
Companies with 4.0 stars are good, and potentially great for people looking for niche coverage options.
Companies with 3.5 stars or fewer could do better in certain categories, like financial strength and customer complaints.
NerdWallet does not receive compensation for our star ratings or our reviews. Read more about our life insurance ratings methodology and editorial guidelines.
