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Business Profile

Insurance Companies

Transamerica Life Insurance Company

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Insurance Companies.

Complaints

This profile includes complaints for Transamerica Life Insurance Company's headquarters and its corporate-owned locations. To view all corporate locations, see

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Transamerica Life Insurance Company has 116 locations, listed below.

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    Customer Complaints Summary

    • 702 total complaints in the last 3 years.
    • 271 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:08/22/2022

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My husband passed away prior to the age of 67. Per their policy TLC 2-ROP-E-A-0410 they are to return all of the premiums paid to date. I sent them a request, along with a copy of the death certificate on June 29, 2022. On July 15 they sent me a pro-rated check for the current years premium. When I called them back to find out what was going on they basically said "oops, we made a mistake we'll escalate this". I've been waiting for them to respond since and have gotten no where with the many people I've spoken to on the phone. I get transferred from department to department to department. The last escalation (*******************************) swore that he would call me back on 8/18 with an update. I called towards the end of the day and was told that he was on another call and was too busy to talk to me but my claim was still being worked on.There are so many things that have gone wrong that I find it hard to believe they are actually in the business that they are in. After the pro-rated refund for this year they sent a letter to my deceased husband telling him his account was past due. Then there is the letter that was addressed to my husband this week where the first line is "We were recently informed of the death of our insured." I realize that this is a form letter, however, really shouldn't it be addressed to the Estate of or the name of the beneficiary and not to the person who is gone?Then there are all the letters requesting more information about long term care plans (again, addressed to the one who has passed). Part of those letters are requests for more information than was ever originally requested by the way. We decided to not pursue getting assistance with paying for in-home care since my husband only needed one week prior to passing. This was started on 6/2. Subsequently they were told during one of our many calls that this no longer needed Overall, the customer service has been horrific and I just want the return of all premiums paid to date per their policy.

      Business Response

      Date: 08/30/2022

      Hello *************************,

      Due to HIPAA a response will be sent directly to *****************************. Thank you

    • Initial Complaint

      Date:08/18/2022

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Transamerica sold my wife and I an insurance policy that would payout IF either of us entered a hospice situation; and/or upon death. The possibility of this payout situation interested so, we both got policies.I entered hospice on July 23rd. I asked my wife to followup with Transamerica. Since then, she has been given the run around. I believe that this is an elderly fraud situation. After 4 weeks of promises, we have not received one claim document!I want Transamerica to honor this policy or repay with interest the premiums my wife and I have paid since January 2021. Also the agent that sold us these fraudulent policies, **************************, should be held accountable.Please advise via my email if you can help us. Thank you.Cc: www.transamerica.com

      Business Response

      Date: 08/26/2022

      Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.  Please be assured that we will respond directly to the client, addressing any concerns.

      Customer Answer

      Date: 08/29/2022

       
      Complaint: 17733590

      I am rejecting this response because:  This company, over the month that I communicated with them, was not truthful.  THIS IS A SCAM!  The 5 different people that I spoke with over that month, all said and made the same promise:  "the docs will be emailed to you from my director; and, yes I promise to mail the to you today".  I even told the last two people that I was thinking this was a scam.

      They have done nothing to make me think that the insurance that we were sold is legit.  Not one direct communication on the matter, or requested document received.!  If indeed this is a scam being perpetrated on the elderly across America, it needs to STOP!  Also, given the wide scale implications of such a scam, the State Atty. ******* should investigate Transamerica business practices.

      Sincerely,

      ***********************

      Business Response

      Date: 08/30/2022

      Due to the various privacy laws, I have responded directly to the client.  He should allow about 5 to 7 days to receive my response letter.

    • Initial Complaint

      Date:08/15/2022

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I was a client of Transamerica life insurance for 13 years. I Never missed a premium payment until early 2022, when I was unemployed. I missed one or two payments and my policy was terminated. I tried to get my policy reinstated and was declined. Now I have no life insurance and will miss out on receiving my premiums back. I was told when I bought the policy I would receive my premium payments back after seventeen years. Now I am missing out on thousands of dollars, that was part of the reason I bought the policy in the first place. I just want my policy reinstated so I will get my money and have life insurance for my family's security.

      Business Response

      Date: 08/18/2022

      Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.  Please be assured that we will respond directly to the client, addressing any concerns.

      **************** should allow approximately 10 to 15 business days.

       

      Business Response

      Date: 08/18/2022

      Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.  Please be assured that we will respond directly to the client, addressing any concerns.

      **************** should allow approximately 10 to 15 business days.

       

      Customer Answer

      Date: 08/18/2022

       
      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

      ***********************

    Transamerica Life Insurance Company is NOT a BBB Accredited Business.

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