{"id":325020,"date":"2025-11-10T17:25:48","date_gmt":"2025-11-10T22:25:48","guid":{"rendered":"https:\/\/www.reviews.com\/?page_id=94665"},"modified":"2025-11-10T17:25:48","modified_gmt":"2025-11-10T22:25:48","slug":"transamerica-review","status":"publish","type":"page","link":"https:\/\/www.reviews.com\/insurance\/life\/transamerica-review\/","title":{"rendered":"Transamerica Life Insurance Review"},"content":{"rendered":"            <span class=\"b-toc-anchor\" id=\"report\" title=\"Reviews Report\"><\/span>\n    \n\n\n<h2 class=\"wp-block-heading\">Reviews Report<\/h2>\n\n\n\n<ul class=\"is-style-blog-list\"><li>Transamerica life insurance scores a 4.4 out of 5 according to Reviews.com methodology.<\/li><li>In <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\">J.D. Power\u2019s 2024 U.S. Individual Life Insurance Study<\/a>, Transamerica is included among evaluated carriers but is not cited among the top-ranked brands; public materials indicate it performs below the industry average on a 1,000-point satisfaction scale.<\/li><li>Transamerica\u2019s indexed universal life (IUL) offerings, including FFIUL, blend permanent life insurance protection with index-linked crediting subject to caps\/participation rates and policy charges; living benefit riders are commonly available where approved and governed by NAIC model standards such as <a href=\"https:\/\/content.naic.org\">Model #620<\/a> for accelerated benefits and <a href=\"https:\/\/content.naic.org\">Model #582<\/a> for illustrations.<\/li><\/ul>\n\n\n\n<p>Transamerica is a financial services company offering a wide variety of <a href=\"https:\/\/www.reviews.com\/insurance\/life\/best\/\" class=\"achor-toggles\">life insurance products<\/a>, including term and whole life insurance policies as well as <a href=\"https:\/\/www.reviews.com\/insurance\/life\/types-of-policies-2\/\" class=\"achor-toggles\">flexible options<\/a> from Transamerica FFIUL. The index-linked crediting in the Transamerica Financial Foundation IUL\u00ae (FFIUL) supports policy value accumulation with downside protection, but credited interest is constrained by caps, participation rates, and spreads and must be illustrated under NAIC rules (<a href=\"https:\/\/content.naic.org\">Model #582<\/a>) and recent AG 49-A guidance; see <a href=\"https:\/\/www.finra.org\">FINRA\u2019s IUL overview<\/a> for how these features work.&nbsp;<\/p>\n\n\n\n<p>A notable feature of Transamerica is the availability of high coverage; in some cases, policyholders can get more than $10 million of coverage. On the other end of the spectrum, Transamerica FFIUL policies can be as low as $25,000 with <a href=\"https:\/\/www.reviews.com\/insurance\/life\/best-cheap\/\" class=\"achor-toggles\">affordable premiums<\/a>. Across the industry, underwriting has modernized with broader accelerated (no-fluid) programs using electronic data, reflecting 2024\u20132025 trends toward faster digital issuance highlighted in industry outlooks (<a href=\"https:\/\/www2.deloitte.com\">Deloitte Insurance Outlook<\/a>; <a href=\"https:\/\/www.ey.com\">EY Global Insurance Outlook 2025<\/a>).<\/p>\n\n\n\n<p>Reading a full Transamerica FFIUL review now involves weighing updated customer satisfaction benchmarks, recent complaint index results by legal entity, and current financial strength ratings from multiple agencies. See <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\">J.D. Power (2024)<\/a> for satisfaction context, the NAIC\u2019s <a href=\"https:\/\/eapps.naic.org\">Consumer Information Source (CIS)<\/a> for complaint indices by line of business and entity, and Transamerica\u2019s <a href=\"https:\/\/www.transamerica.com\">financial strength ratings page<\/a> for agency ratings details.<\/p>\n\n\n            <span class=\"b-toc-anchor\" id=\"overview\" title=\"Transamerica Life Insurance Overview\"><\/span>\n    \n\n\n<section id=\"block_6058c3c391dcf\" class=\"block b-stats-overview\">\n    <h2 class=\"b-stats-overview-title\">Transamerica Life Insurance Overview<\/h2>\n    <div class=\"b-stats-overview-grid\">\n                <div class=\"b-stats-overview-grid-item\">\n            <div class=\" b-stats-overview-grid-item-title\">\n                Reviews.com Score\n                            <\/div>\n\n            <span class=\"b-stats-overview-grid-item-value\">4.4<\/span>\n        <\/div>\n                <div class=\"b-stats-overview-grid-item\">\n            <div class=\" b-stats-overview-grid-item-title\">\n                In business since:\n                            <\/div>\n\n            <span class=\"b-stats-overview-grid-item-value\">1904<\/span>\n        <\/div>\n                <div class=\"b-stats-overview-grid-item\">\n            <div class=\"tooltip b-stats-overview-grid-item-title\">\n                AM Best: \r\n\n                                    <span class=\"tooltip-content\">AM Best rates insurance providers creditworthiness. Ratings are  based on the provider\u2019s ability to follow through with a payout when a consumer files a claim.<\/span>\n                            <\/div>\n\n            <span class=\"b-stats-overview-grid-item-value\">A<\/span>\n        <\/div>\n                <div class=\"b-stats-overview-grid-item\">\n            <div class=\"tooltip b-stats-overview-grid-item-title\">\n                J.D. Power: \r\n\n                                    <span class=\"tooltip-content\">J.D. Power scores are based on surveys for customer satisfaction and product quality.<\/span>\n                            <\/div>\n\n            <span class=\"b-stats-overview-grid-item-value\">Below average (2024)<\/span>\n        <\/div>\n            <\/div>\n<\/section>\n\n\n\n<p><br>Customer satisfaction results are best understood using the latest study cycle. In <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener nofollow\" class=\"achor-toggles\">J.D. Power\u2019s 2024 U.S. Individual Life Insurance Study<\/a>, Transamerica participates but is not among the top-ranked carriers and is reported below the industry average on J.D. Power\u2019s 1,000-point scale. For complaints, the National Association of Insurance Commissioners provides entity-specific indices in its <a href=\"https:\/\/eapps.naic.org\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener nofollow\" class=\"achor-toggles\">Consumer Information Source (CIS)<\/a>. Look up Transamerica Life Insurance Company (NAIC 86231) and Transamerica Premier Life Insurance Company (NAIC 66281) to see the most recent annual Complaint Index for Individual Life and Annuities; an index of 1.00 equals the national average for that line. Transamerica\u2019s indexed universal life policies can support long-term accumulation with access to cash value via loans and withdrawals, which may be tax-advantaged if structured properly under IRS rules (see <a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/72\">IRC \u00a772<\/a>, <a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/7702A\">\u00a77702A<\/a>, and <a href=\"https:\/\/www.irs.gov\/publications\/p525\">IRS Publication 525<\/a>). Consumers focused on traditional whole or <a class=\"achor-toggles\" href=\"https:\/\/www.reviews.com\/insurance\/life\/best-term\/\">term policies<\/a> may also compare carriers with stronger recent satisfaction results.<\/p>\n\n\n\n<section id=\"block_6058bd7591dc0\" class=\"block b-pro-cons\">\n            \n<div class=\"b-pro-cons__wrapper\">\n    <h4 class=\"b-pro-cons__title b-pro-cons__title--important\"> PROS<\/h4>\n    <ul class=\"b-pro-cons__list b-pro-cons__list--pros\">\n                                <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Multiple policy options:<\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">Transamerica offers whole life, term life, universal life, indexed universal life (IUL), and final expense policies for a wide variety of coverage needs; living benefit riders (accelerated death benefits for terminal, chronic, or critical illness) are commonly available where approved under NAIC <a href=\"https:\/\/content.naic.org\/sites\/default\/files\/inline-files\/MDL-620.pdf\">Model #620<\/a>.<\/span>\n                            <\/li>\n                                        <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Indexed universal life with updated illustration controls: <\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">IUL crediting aligns to external market indices with caps\/participation rates; illustrations must follow NAIC <a href=\"https:\/\/content.naic.org\/sites\/default\/files\/inline-files\/MDL-582.pdf\">Model #582<\/a> and AG 49-A limits. See <a href=\"https:\/\/www.finra.org\/investors\/insights\/indexed-universal-life-insurance\">FINRA\u2019s IUL guide<\/a> for how caps, participation rates, and policy charges affect performance.<\/span>\n                            <\/li>\n                                        <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Digital apps and accelerated underwriting: <\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">Industry-wide, carriers expanded e-apps and fluidless underwriting for select ages and face amounts in 2024\u20132025, speeding cycle times and simplifying the buying experience (<a href=\"https:\/\/www2.deloitte.com\/us\/en\/insights\/industry\/financial-services\/insurance-industry-outlook.html\">Deloitte Outlook<\/a>; <a href=\"https:\/\/www.ey.com\/en_gl\/insurance\/ey-global-insurance-outlook-2025\">EY 2025 Outlook<\/a>).<\/span>\n                            <\/li>\n                <\/ul>\n<\/div>\n    \n            \n<div class=\"b-pro-cons__wrapper\">\n    <h4 class=\"b-pro-cons__title b-pro-cons__title--important\"> CONS<\/h4>\n    <ul class=\"b-pro-cons__list b-pro-cons__list--cons\">\n                                <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Below-average recent customer satisfaction: <\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">In J.D. Power\u2019s <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\">2024 life insurance study<\/a>, Transamerica is not among the top-ranked carriers and is below the industry average on the 1,000-point scale.<\/span>\n                            <\/li>\n                                        <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Complaints vary by legal entity: <\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">NAIC\u2019s <a href=\"https:\/\/eapps.naic.org\/cis\/\">CIS<\/a> reports annual Complaint Index values by line of business for Transamerica Life Insurance Company (NAIC 86231) and Transamerica Premier Life Insurance Company (NAIC 66281). Index 1.00 = national average; check the latest year (e.g., 2024) for entity-specific results.<\/span>\n                            <\/li>\n                                        <li class=\"b-pro-cons__list-item b-pro-cons__list-item-expandable\">\n                <span class=\"b-pro-cons__list-item-title\">Whole-life online quoting limits: <\/span>\n\n                                    <span class=\"b-pro-cons__list-item-desc\">Some permanent products are sold via agents only; availability, riders, and underwriting requirements vary by state and product. Review conversion options and rider forms carefully (see NAIC <a href=\"https:\/\/content.naic.org\/sites\/default\/files\/inline-files\/MDL-620.pdf\">Model #620<\/a> disclosures). <\/span>\n                            <\/li>\n                <\/ul>\n<\/div>\n    <\/section>\n\n\n            <span class=\"b-toc-anchor\" id=\"highlights\" title=\"Transamerica Life Insurance Highlights\"><\/span>\n    \n\n                \n<section id=\"block_6058c74391dda\" class=\"block b-highlights-tabs\">\n    <h2 class=\"b-highlights-tabs__title\">Transamerica Life Insurance Highlights<\/h2>\n    \n    <div class=\"b-highlights-tabs__tabs-list\">\n        <div class=\"b-highlights-tabs__tabs-list-nav\">\n                            <div class='b-highlights-tabs__tabs-list-nav-item active' data-index=\"1\"> Coverage &#038; Riders <\/div>\n                            <div class='b-highlights-tabs__tabs-list-nav-item ' data-index=\"2\"> Customer Experience <\/div>\n                            <div class='b-highlights-tabs__tabs-list-nav-item ' data-index=\"3\"> Before You Buy <\/div>\n                    <\/div>\n\n        <div class=\"swiper-container\">\n            <div class=\"swiper-wrapper\">\n                                                        <div class=\"swiper-slide b-highlights-tabs__slide\">\n                        <div class=\"b-highlights-tabs__slide-content\" data-title=\"Coverage &#038; Riders\">\n                            \n                                                            <div class=\"b-highlights-tabs__slide-content-alt-description\">\n                                    <p>Transamerica offers whole life insurance, two types of term life insurance, universal life insurance, index universal life insurance, and final expense life insurance. Whole life insurance guarantees coverage for the policy holder\u2019s whole life as long as the premiums are paid, while term insurance keeps policyholders covered for a period between 10 and 30 years. Customers can also take advantage of the <a class=\"achor-toggles\" href=\"https:\/\/www.transamerica.com\/lp\/ffiulcpr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\" (opens in a new tab)\">Concierge Planning Rider<\/a>, which includes features like will preparation and 24\/7 funeral assistance. In addition, accelerated death benefit riders for terminal, chronic, or critical illness are widely available where approved and governed by NAIC <a href=\"https:\/\/content.naic.org\">Model #620<\/a>.<\/p>\n\n                                <\/div>\n                                                    <\/div>\n                    <\/div>\n                                                        <div class=\"swiper-slide b-highlights-tabs__slide\">\n                        <div class=\"b-highlights-tabs__slide-content\" data-title=\"Customer Experience\">\n                            \n                                                            <div class=\"b-highlights-tabs__slide-content-alt-description\">\n                                    <p>According to the <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\">J.D. Power 2024 U.S. Individual Life Insurance Study<\/a>, Transamerica is below the industry average for overall satisfaction on a 1,000-point scale and is not a top-ranked brand in the public release. For complaints, consult the NAIC\u2019s <a href=\"https:\/\/eapps.naic.org\">Consumer Information Source (CIS)<\/a> for the latest annual Complaint Index by line for Transamerica Life Insurance Company (NAIC 86231), Transamerica Premier Life Insurance Company (NAIC 66281), and Transamerica Financial Life Insurance Company (NAIC 70688). An index of 1.00 represents the national average.<\/p>\n\n                                <\/div>\n                                                    <\/div>\n                    <\/div>\n                                                        <div class=\"swiper-slide b-highlights-tabs__slide\">\n                        <div class=\"b-highlights-tabs__slide-content\" data-title=\"Before You Buy\">\n                            \n                                                            <div class=\"b-highlights-tabs__slide-content-alt-description\">\n                                    <p>Most Transamerica term life insurance policies require a medical exam. But <a class=\"achor-toggles\" href=\"https:\/\/www.transamerica.com\/individual\/what-we-offer\/products\/insurance\/term-life\/\">according to its website<\/a>, \u201c&#8230;if a person is under a certain age and coverage amount, they may be able to get term life insurance without a medical exam.\u201d For IUL and other permanent coverage, review illustrations carefully; NAIC <a href=\"https:\/\/content.naic.org\">Model #582<\/a> and updated AG 49-A govern illustrated index crediting, and <a href=\"https:\/\/www.finra.org\">FINRA<\/a> outlines key tradeoffs among caps, participation rates, spreads, and policy charges.<\/p>\n\n                                <\/div>\n                                                    <\/div>\n                    <\/div>\n                            <\/div>\n\n            <div class=\"swiper-navigation-wrapper-refresh\">\n                <div class=\"swiper-button-prev\"><\/div>\n                <div class=\"swiper-pagination\"><\/div>\n                <div class=\"swiper-button-next\"><\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/section>\n\n\n            <span class=\"b-toc-anchor\" id=\"chart\" title=\"Transamerica Life Insurance vs. The Competition \"><\/span>\n    \n\n\n<h2 class=\"wp-block-heading\">Transamerica Life Insurance vs. The Competition&nbsp;<\/h2>\n\n\n\n<figure class=\"wp-block-table table table-striped table-bordered table--bordered-top\"><table class=\"\"><tbody><tr><td>Provider<\/td><td>Reviews.com Score<\/td><td>In business since&nbsp;<\/td><td>AM Best<\/td><td>J.D. Power*<\/td><\/tr><tr><td>Transamerica<\/td><td>4.4<\/td><td>1904<\/td><td>A<\/td><td>Below average (2024)<\/td><\/tr><tr><td>State Farm<\/td><td>4.6<\/td><td>1922<\/td><td>A++<\/td><td>Above average (2024)<\/td><\/tr><tr><td>Northwestern Mutual<\/td><td>4.4<\/td><td>1859<\/td><td>A++<\/td><td>Above average (2024)<\/td><\/tr><tr><td>Nationwide<\/td><td>5<\/td><td>1925<\/td><td>A+<\/td><td>Around average (2024)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Information accurate as of November 2025<\/em><\/p>\n\n\n\n<p><em>*J.D. Power\u2019s <\/em><a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\" class=\"achor-toggles\"><em>2024 U.S. Life Insurance Satisfaction Study<\/em><\/a><em>. Based on a 1,000-point scale.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Transamerica vs. State Farm&nbsp;<\/h3>\n\n\n\n<p>Transamerica and State Farm both offer term, whole, and universal life insurance policies. In J.D. Power\u2019s 2024 life study, State Farm is above the industry average while Transamerica is below average. Financial strength also differs: State Farm Life holds top-tier AM Best A++ (Superior) per company disclosures (<a href=\"https:\/\/www.statefarm.com\/about-us\/company-overview\/financial-information\/ratings\">State Farm ratings<\/a>), while Transamerica Life\u2019s AM Best rating is A (Excellent) as listed on <a href=\"https:\/\/www.transamerica.com\">Transamerica\u2019s ratings page<\/a>. <\/p>\n\n\n\n<p>Both carriers sell policies nationwide (product features and underwriting paths vary by state). If service experience and local agent interaction are priorities, State Farm\u2019s above-average 2024 satisfaction results may appeal; value-focused term or IUL designs may point shoppers to compare Transamerica as well. For broader industry positioning, see NAIC\u2019s <a href=\"https:\/\/content.naic.org\">Life\/Fraternal Market Share Reports<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Transamerica vs. Northwestern Mutual<\/h3>\n\n\n\n<p>Northwestern Mutual is a mutual company whose participating whole life policies may pay dividends when declared; dividends are not guaranteed. Transamerica\u2019s IUL designs credit interest based on external indices (subject to caps\/participation, policy charges, and illustration limits under NAIC <a href=\"https:\/\/content.naic.org\">Model #582<\/a> and AG 49-A), rather than paying participating policy dividends. <\/p>\n\n\n\n<p>Both offer term, whole, and universal life options, but Northwestern Mutual typically scores above the industry average in J.D. Power\u2019s 2024 study and maintains top-tier AM Best A++ (Superior) per company disclosures (<a href=\"https:\/\/www.northwesternmutual.com\">Northwestern Mutual financial strength<\/a>). Northwestern Mutual remains a market-share leader in individual life according to NAIC <a href=\"https:\/\/content.naic.org\">reports<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Transamerica vs. Nationwide<\/h3>\n\n\n\n<p>Nationwide\u2019s portfolio includes term, whole life, indexed UL, and variable UL, plus survivorship and living benefit riders where approved. It holds AM Best A+ (Superior) per company disclosures (<a href=\"https:\/\/www.nationwide.com\">Nationwide financial strength<\/a>). In J.D. Power\u2019s 2024 life study, Nationwide generally performs around the industry average, while Transamerica is below average.<\/p>\n\n\n\n<p>For accumulation-oriented permanent life with robust rider menus, Nationwide\u2019s breadth can be attractive. Transamerica\u2019s IUL and value-focused term often compete on pricing and broad face-amount ranges. Compare underwriting paths, rider definitions, and illustration assumptions carefully, using NAIC <a href=\"https:\/\/content.naic.org\">Model #582<\/a> disclosures and <a href=\"https:\/\/www.finra.org\">FINRA\u2019s IUL guidance<\/a>.<\/p>\n\n\n            <span class=\"b-toc-anchor\" id=\"faq\" title=\"FAQ\"><\/span>\n    \n\n\n<h2 class=\"wp-block-heading\">Transamerica Life Insurance FAQ&nbsp;<\/h2>\n\n\n<div id=\"block_6058bf8f91dc7\" class=\"block b-accordion\" data-js=\"b-accordion\">\n    <div class=\"b-accordion__container\">\n        <div class=\"b-accordion__header\">\n            <a href=\"#\" class=\"b-accordion__title\" data-tag='cta' data-tag-element-type='LINK' data-tag-location='ACCORDION' data-tag-outcome='INTERNALLINK' ><h3 class=\"b-accordion__title--h3\">Is Transamerica Life Insurance legit?<\/h3><\/a>\n            <span class=\"b-accordion__toggle chevron-arrow-down\"><\/span>\n        <\/div>\n        <div class=\"b-accordion__content\" style=\"display: none;\">\n            <p><span style=\"font-weight: 400;\">Yes. Transamerica operates regulated U.S. life insurers, including Transamerica Life Insurance Company (NAIC 86231) and Transamerica Financial Life Insurance Company (NAIC 70688). Transamerica Life carries an AM Best Financial Strength Rating of &#8220;A&#8221; (Excellent) as listed on the company\u2019s <\/span><a href=\"https:\/\/www.transamerica.com\/why-transamerica\/financial-strength-ratings\"><span style=\"font-weight: 400;\">financial strength ratings page<\/span><\/a><span style=\"font-weight: 400;\">. AM Best\u2019s &#8220;A&#8221; corresponds to &#8220;Excellent&#8221; on its scale (<\/span><a href=\"https:\/\/www.ambest.com\/ratings\/guide.pdf\"><span style=\"font-weight: 400;\">AM Best Guide<\/span><\/a><span style=\"font-weight: 400;\">). Transamerica also publishes ratings from S&amp;P Global Ratings, Moody\u2019s, and Fitch on the same page; verify the current outlook and rating-effective dates directly with each agency.<\/span><\/p>\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div id=\"block_6058bfb991dc8\" class=\"block b-accordion\" data-js=\"b-accordion\">\n    <div class=\"b-accordion__container\">\n        <div class=\"b-accordion__header\">\n            <a href=\"#\" class=\"b-accordion__title\" data-tag='cta' data-tag-element-type='LINK' data-tag-location='ACCORDION' data-tag-outcome='INTERNALLINK' ><h3 class=\"b-accordion__title--h3\">What kind of insurance is Transamerica?<\/h3><\/a>\n            <span class=\"b-accordion__toggle chevron-arrow-down\"><\/span>\n        <\/div>\n        <div class=\"b-accordion__content\" style=\"display: none;\">\n            <p><span style=\"font-weight: 400;\">Transamerica sells life insurance (term, whole, universal, indexed universal) and supplemental coverages, and it participates in annuities and retirement plans. Many policies include accelerated death benefit riders, which are governed by NAIC model standards (see <\/span><a href=\"https:\/\/content.naic.org\/sites\/default\/files\/inline-files\/MDL-620.pdf\"><span style=\"font-weight: 400;\">NAIC Model #620<\/span><\/a><span style=\"font-weight: 400;\">). <\/span><\/p>\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div id=\"block_6058bfd991dc9\" class=\"block b-accordion\" data-js=\"b-accordion\">\n    <div class=\"b-accordion__container\">\n        <div class=\"b-accordion__header\">\n            <a href=\"#\" class=\"b-accordion__title\" data-tag='cta' data-tag-element-type='LINK' data-tag-location='ACCORDION' data-tag-outcome='INTERNALLINK' ><h3 class=\"b-accordion__title--h3\">Can I withdraw money from Transamerica Life Insurance?<\/h3><\/a>\n            <span class=\"b-accordion__toggle chevron-arrow-down\"><\/span>\n        <\/div>\n        <div class=\"b-accordion__content\" style=\"display: none;\">\n            <p><span style=\"font-weight: 400;\">Cash value policies generally allow access via withdrawals and policy loans. For a non-MEC policy, withdrawals are typically tax-free up to your basis, and policy loans are generally not taxable if the policy stays in force (see <\/span><a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/72\"><span style=\"font-weight: 400;\">IRC \u00a772<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.irs.gov\/publications\/p525\"><span style=\"font-weight: 400;\">IRS Publication 525<\/span><\/a><span style=\"font-weight: 400;\">). If a policy is a modified endowment contract (MEC) under <\/span><a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/7702A\"><span style=\"font-weight: 400;\">IRC \u00a77702A<\/span><\/a><span style=\"font-weight: 400;\">, distributions (including loans) are taxed income-first and can incur a 10% additional tax if taken before age 59\u00bd. Loans and withdrawals reduce cash value and death benefit and can cause a lapse if overused. <\/span><\/p>\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div id=\"block_6058bff591dca\" class=\"block b-accordion\" data-js=\"b-accordion\">\n    <div class=\"b-accordion__container\">\n        <div class=\"b-accordion__header\">\n            <a href=\"#\" class=\"b-accordion__title\" data-tag='cta' data-tag-element-type='LINK' data-tag-location='ACCORDION' data-tag-outcome='INTERNALLINK' ><h3 class=\"b-accordion__title--h3\">Is Transamerica a scheme?<\/h3><\/a>\n            <span class=\"b-accordion__toggle chevron-arrow-down\"><\/span>\n        <\/div>\n        <div class=\"b-accordion__content\" style=\"display: none;\">\n            <p><span style=\"font-weight: 400;\">No. Transamerica is a regulated insurer with multiple U.S. legal entities (e.g., Transamerica Life Insurance Company, NAIC 86231; Transamerica Financial Life Insurance Company, NAIC 70688). Policies are filed with state regulators, and financial strength is rated by agencies such as AM Best, S&amp;P, Moody\u2019s, and Fitch (see <\/span><a href=\"https:\/\/www.transamerica.com\/why-transamerica\/financial-strength-ratings\"><span style=\"font-weight: 400;\">Transamerica ratings page<\/span><\/a><span style=\"font-weight: 400;\">). Coverage limits can be substantial subject to underwriting; there is no requirement to participate in sales or recruiting to own a policy.\u00a0<\/span><\/p>\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n            <span class=\"b-toc-anchor\" id=\"method\" title=\"Methodology\"><\/span>\n    \n\n\n<h2 class=\"wp-block-heading\">Methodology<\/h2>\n\n\n\n<p>We evaluated Transamerica Life Insurance based on riders, coverage, resources, financial strength and customer satisfaction to determine Reviews.com scores and create our best life insurance reviews. To compare life insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:<\/p>\n\n\n\n<ul><li>Number of Riders: The more riders a life insurance company has, the higher it scores in our Reviews.com methodology; we consider availability of accelerated death benefit riders consistent with NAIC <a href=\"https:\/\/content.naic.org\">Model #620<\/a>.<\/li><li>Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each life insurance company\u2019s financial stability, and we reference other agencies\u2019 scales for additional context (<a href=\"https:\/\/www.ambest.com\/ratings\/guide.pdf\">AM Best Guide<\/a>; <a href=\"https:\/\/www.spglobal.com\/ratings\/en\/about\/ratings-resources\/ratings-definitions\">S&amp;P Ratings Definitions<\/a>; <a href=\"https:\/\/ratings.moodys.com\/ratings-definitions\">Moody\u2019s Rating Symbols<\/a>; <a href=\"https:\/\/www.fitchratings.com\/research\/insurance\/insurance-rating-criteria-20-12-2024\">Fitch Insurance Rating Criteria<\/a>).<\/li><li>Customer Satisfaction: With J.D. Power\u2019s <a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-individual-life-insurance-study\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener nofollow\" class=\"achor-toggles\">2024 U.S. Individual Life Insurance Study<\/a>, we assign context to each company based on the most recent results and publicly named leaders.<\/li><li>Coverage: Life insurance companies scored higher if customers can convert term to permanent coverage and if they offered multiple options under different types of life insurance policies; for indexed UL, we consider compliance with NAIC <a href=\"https:\/\/content.naic.org\">Model #582<\/a> and the clarity of index disclosures.<\/li><li>Resources and Service: We compared policy servicing and digital resources (online quotes, e-application, electronic policy delivery) and considered recent complaint index levels and trends available via NAIC\u2019s <a href=\"https:\/\/eapps.naic.org\">CIS<\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Reviews Report Transamerica life insurance scores a 4.4 out of 5 according to Reviews.com methodology. In J.D. Power\u2019s 2024 U.S. Individual Life Insurance Study, Transamerica is included among evaluated carriers but is not cited among the top-ranked brands; public materials indicate it performs below the industry average on a 1,000-point satisfaction scale. Transamerica\u2019s indexed universal [&hellip;]<\/p>\n","protected":false},"author":345,"featured_media":360300,"parent":1766,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/template-refresh-spr.php","meta":[],"categories":[1270],"tags":[],"post_author":[16970],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Transamerica Life Insurance Review 2021 - Reviews.com<\/title>\n<meta name=\"description\" content=\"Transamerica has term, whole, and universal life insurance policies. The Transamerica FFIUL plans even allow for early withdrawal. 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