Transamerica Life Insurance Review (2026)
Rated A (Excellent) by AM Best¹, Transamerica offers a broad product lineup that includes term life, whole life, final expense coverage and indexed universal life policies with multiple crediting strategies, making it a notable option for buyers focused on cash value growth. With more than 120 years of experience, Transamerica has focused on creating innovative financial tools that support people in reaching their goals and securing their futures
Key Takeaways
Best suited for: Shoppers who want access to a wide selection of term and permanent life insurance products from a large, established insurer.
Product lineup: Term life, whole life, universal life, indexed universal life (IUL), and final expense coverage.
Financial strength: Rated A (Excellent) by AM Best¹, indicating strong claims-paying ability.
How to buy: Available through licensed independent agents and broker networks, with online quotes offered for select policies.
About Transamerica Life Insurance
Founded in 1928, Transamerica Life Insurance Company is a stock company that operates as part of the global Aegon group.² With 10.2 million customers, the company has paid more than $62.8 billion in insurance, retirement, and annuity benefits as of 2024.³
Beyond life insurance, Transamerica offers annuities, retirement products, employee benefits, and supplemental health insurance. Specific life insurance products and coverage amounts vary by state. Policies are distributed primarily through independent agents rather than a captive agent force.
Transamerica Life Insurance Review for 2026
In this Transamerica life insurance review, we evaluate the company’s policy offerings, pricing, underwriting process, and financial strength. We also break down its pros, cons, and best fit to help you make an informed decision.
Transamerica Financial Strength and Ratings
Financial strength ratings evaluate an insurer’s long-term ability to meet its policy obligations, which can be an important factor when choosing coverage that may remain in force for decades. Based on the latest available data, Transamerica holds strong ratings from major agencies:
- AM Best: A (Excellent)¹
- S&P Global: A+⁴
- Moody’s: A1⁵
Taken together, these ratings place Transamerica in the upper tier of financially stable insurers, signaling a strong capacity to pay claims and honor long-term commitments. While ratings can change over time, this level of consistency across agencies reinforces confidence for policyholders considering both term and permanent life products.
Transamerica Life Insurance Products
Transamerica offers a range of term and permanent products, with particular depth in its indexed universal life lineup and final expense coverage. These policies are designed to address income replacement, legacy planning, and end-of-life financial needs.
Term Life Insurance
Transamerica has two main term life insurance products, Trendsetter Super and Trendsetter LB.⁶ These policies offer flexible coverage options with competitive underwriting and conversion features. However, Trendsetter Super is unavailable in New York.
- Issue ages: Both products are available to applicants ages 18 to 80, although eligibility may vary based on the selected term length and underwriting criteria.
- Term lengths: Each policy offers level term periods of 10, 15, 20, 25, and 30 years.
- Coverage amounts: Trendsetter Super provides broader coverage ranging from $25,000 up to $10 million or more for qualified applicants, while Trendsetter LB typically offers coverage from $25,000 up to $2 million.
- No-medical exam option: Both products may offer no-medical-exam underwriting for coverage up to $2 million⁶, depending on the applicant’s health profile and eligibility.
Whole Life Insurance
Transamerica’s whole life insurance, Transamerica Lifetime², offers lifetime coverage with level premiums and a guaranteed death benefit, as long as premiums are maintained.
The policy also builds cash value at a fixed rate, providing a stable savings component over time. An accelerated death benefit for terminal illness is included as a standard feature.
Other optional riders include chronic illness accelerated death benefit, critical illness accelerated death benefit, disability waiver of premium, income protection option, guaranteed insurability, children’s benefit and accidental death benefit rider. This policy is unavailable in the state of New York.²
Final Expense Insurance
Transamerica offers two final expense products, FE Express Solution and Final Expense Immediate Solution⁷, designed to provide simple, permanent coverage for funeral and end-of-life costs.
- Issue ages: FE Express is available for ages 18-85 (graded option up to 80), whereas Immediate Solution offers broader eligibility from ages 0-85.
- Coverage amounts: FE Express offers coverage from $5,000 up to $100,000 (ages 18-75) and up to $25,000 for older applicants, while Immediate Solution ranges from $1,000 to $50,000 depending on age bands.
- Underwriting approach: Both products require no medical exams, relying instead on application responses for eligibility and approval.
- Riders available: Concierge Planning Rider, Accelerated Death Benefit with Nursing Home Benefit, Accidental Death Benefit Rider, and Children’s and Grandchildren’s Benefit Rider.
Universal Life Insurance
Transamerica offers two indexed universal life products, Financial Foundation IUL II and Financial Choice IUL II⁸, designed for different financial goals. While both provide flexible premiums, death benefit protection, and access to index-linked growth, they target different types of policyholders based on funding capacity and long-term strategy.
- Minimum coverage: Financial Foundation IUL II starts at $25,000, making it more accessible, whereas Financial Choice IUL II requires a higher minimum of $250,000.
- Index options: Both products offer a range of index-linked accounts, including S&P 500 and global indices, with Choice IUL II providing a broader selection such as Fidelity Small-Mid Multifactor and enhanced index strategies.
- Availability: Neither of the products is available in New York, and policy forms may vary by state.
Available Riders and Add-Ons
Transamerica Life Insurance Underwriting and Application Process
Transamerica uses a mix of fully underwritten and accelerated underwriting pathways depending on the product, coverage amount, and applicant age and health profile.
Medical Exam Requirements
Medical exams are typically not required for Transamerica’s whole life and final expense policies. For Trendsetter Super term life insurance, a medical exam may also be waived for qualifying applicants, depending on factors such as age, health history, and the amount of coverage requested.²
In many cases, eligible individuals can complete the process through accelerated underwriting, which relies on application data and third-party sources rather than traditional medical checkups. However, some applicants may still be asked to complete a medical exam as part of the underwriting review.
How to Apply for Transamerica Life Insurance
Transamerica policies are purchased through licensed independent agents or broker networks. There is no direct-to-consumer purchase path for most products. The process begins with a quote through an agent, followed by a formal application that can be completed in person or electronically.
Coverage Limits and Eligibility
Transamerica’s life insurance products may have different coverage and eligibility options, based on the applicant’s age, gender and other lifestyle factors. Here are some of the common coverage limits² to consider:
- Term life: Coverage begins at $25,000, with limits up to $2 million for Trendsetter LB and $10 million+ for Trendsetter Super for qualified applicants.
- Final expense: $5,000 to $100,000 for FE Express Solution, and $1,000 to $50,000 for Final Expense Immediate Solution.
- Indexed universal life (IUL): Starts at $25,000 for Financial Foundation IUL and $250,000 for Financial Choice IUL.
Transamerica Customer Experience
Transamerica operates through an agent-based distribution model with a supporting online portal and mobile app for existing policyholders, but the primary service relationship is managed through the selling agent rather than a direct digital channel.
Customer Service and Contact Options
Transamerica's customer service team is reachable by phone for life insurance policy inquiries, Monday through Friday during standard business hours. Here are a few ways to contact the company for claims and query purposes:
- Phone: 800-797-2643 (Mon - Fri 9am to 6pm ET)
- Website: transamerica.com
Also, individuals who have purchased a life insurance product via an agent can fill up a form available in the Transamerica website for additional queries related to their policy.
Transamerica Life Insurance Claims Process
Beneficiaries can initiate a life insurance claim by contacting Transamerica via phone or by submitting a claim form online through the company’s website. To process the claim, standard documentation is required, including:
- A completed claimant’s statement
- A certified death certificate
- The original policy document (if available)
Mobile App and Online Access
The Transamerica app is available on iOS and Android and allows policyholders to view policy details, make premium payments, update contact information, and access documents. The app supports basic account management but does not facilitate claims filing or complex policy changes, which still require phone or agent contact.
Pros and Cons of Transamerica Life Insurance
Like most insurers, Transamerica has strengths that appeal to certain shoppers and tradeoffs depending on coverage needs and expectations. Here are some pros and cons to consider:
Pros of Transamerica Life Insurance
- Broad life insurance lineup, including term and multiple permanent policy types, including IUL and final expense policies, which gives shoppers more ways to match coverage to goals and budget.
- Established national carrier with broad distribution, which can be a plus for shoppers who prefer working with a broad network of financial professionals.
- Strong customization potential across products, with optional riders and policy features that can vary by policy series and state.
- Multiple term and permanent options under one umbrella, which can help if you want to start with term coverage and later explore permanent coverage later.
Cons of Transamerica Life Insurance
- For permanent cash value policies, investment performance has been cited as lagging top competitors at times.
- Online buying is limited and at least some purchasing flows require working through an agent rather than completing the full process online.
- Policy features and availability can vary significantly by product line and state, which may require more guidance and comparison work for shoppers.
Ethos vs Transamerica Life Insurance
Ethos and Transamerica differ in distribution model, underwriting speed, and product complexity. Ethos is built for a fast, digital-first buying experience, while Transamerica majorly works on delivering a range of products via agent guidance.
- Application experience: Ethos provides a fully online, no-agent process with no-exam coverage, whereas Transamerica requires working with an agent, which adds time to the application process.
- Underwriting approach: Ethos uses data-driven underwriting for near-instant decisions, while Transamerica combines traditional and accelerated methods with possible manual review.
- Best fit: Ethos suits buyers seeking speed and simplicity whereas Transamerica fits individuals who may want more complex or permanent policy options with guided support.
More Life Insurance Reviews
FAQs on Transamerica Life Insurance
Transamerica can work well for buyers seeking flexible permanent life insurance solutions, particularly indexed universal life (IUL). It also appeals to those who want term coverage with built-in living benefits or for seniors looking for final expense coverage, with lower coverage amounts designed to help manage end-of-life costs.
Transamerica offers term life, whole life, indexed universal life, and final expense insurance. Within term life, the Trendsetter LB series includes living benefit riders for chronic, critical, and terminal illness at no additional premium. The IUL lineup includes multiple indexed crediting strategies. Final expense coverage is also available for individuals looking to cover end-of-life expenses.
Transamerica policies are purchased through licensed independent agents or broker networks. The process starts with a quote, followed by a formal application submitted electronically or in person. Fully underwritten applicants may need a medical exam and should expect a four-to-six-week process from application to policy delivery.
Beneficiaries can file a claim by calling your representative or by submitting a claim form through transamerica.com. Required documents typically include a completed claimant's statement and a certified copy of the death certificate. Transamerica generally processes straightforward claims within a few business days of receiving a complete package.
Yes. Transamerica's accelerated underwriting program allows eligible applicants to skip the medical exam for term coverage, subject to age and health profile requirements. Final expense whole life is available with simplified-issue underwriting (health questions only, no exam) and guaranteed-issue underwriting (no health questions or exam) for qualifying applicants.
Yes, Transamerica offers final expense whole life products specifically designed for seniors who may not qualify for traditional coverage. Term coverage is available to applicants up to age 80, though maximum term lengths become more restricted as issue age increases.
Transamerica uses a mix of traditional and accelerated underwriting, often requiring manual review, which can take longer for final approval. In contrast, fully digital insurers rely on algorithmic underwriting and real-time data, enabling faster decisions for eligible applicants.
Author
Chief Underwriter
Expert review
Chief Compliance & Privacy Officer
Last updated: May 31, 2026
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