ComplaintsforTransamerica Life Insurance Company
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Complaint Details
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Initial Complaint
07/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I AM 75 YEARS OLD APPROX. I CREATE LIFE INSURANCE WITH TRANSAMERICA AGENT IN *****************. BEFORE 20 YEARS.THIS INSURANCE AGENT ***** ME NEVER TOLD ME THE POLICY EXPIRE AFTER 20 YEARS ONLY.THANKS GOD I PASS THE PERIOD ALIVE.SUDDENLY I FOUND I WAS CHARGE IN MY BANK ******* USD PREMIUM BEFORE THAT I PAID ****** USD.I WAS SHOCKED .NO PERMISSION TO CHARGE ME EVER THIS AMOUNT. I NEVER STOP PAYMENT TO THE COMPANY.THEY PUT THEIR HEAVY FINGERES IN MY POCKET .GAVE ME OPTION TO CANCEL THE POLICY AND PAY ME BACK THE ******* USD.OR PAY EVERY MONTH THIS AMOUNT ITS CRAZY.IT IS JUST CHEATING ME. FOR THIS NON DISCLOSURE OF 20 YEARS I WANT ALL FUNDS BACK. OR PUT THE COMPANY IN THE ***** IN IA WITH ATTORNEY.I FILL VERY BAD I TALK WITH SOMEBODY NAME ****** OR SOMETHING LIKE THIS IN CUSTOMER SERVICE OF ******************** ************.MY RECOMMANDATION STEY AWAY FROM -TRANSAMERICA .THE ***** OF IA MUST .MUST TAKE THEM TO CLOSE THIS COMPANY WITH HUNDRADS OF COMPLAINS.Business response
07/12/2024
We are in receipt of the correspondence that you received from ***********************. Due to privacy laws and regulations we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway and we will respond to the complainant in writing to as soon as we have concluded our review.Customer response
07/12/2024
Complaint: 21978741
I am rejecting this response because:
Sincerely,
***********************Initial Complaint
07/11/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I started a life insurance policy with WRL in 2009 . The agent ********************************* Ph ************ told me it is 10 or 15 years. Later it came to be Transamerica that took over the payment . Now few months ago I called and talked to one of their reps and he told me when it matures I would get the money I paid as premiums , but when I called them again this week they said in would only mature in 2057. Also my Social Security number was changed which made a lot of confusion . I would like to get a reimbursement as the agent told me when I started this policy in 2009.Business response
07/11/2024
We are in receipt of the correspondence that you received from *********************. Due to privacy laws and regulations we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
07/09/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
December 6 2023 my mom passed away. She had a life insurance policy with Transamerica that has been paid for in full since the 80s. I have sent and fax all documents needed to receive the insurance money but every time I call I am told they never received the documents via all three fax numbers or via mail. Instead they keep asking for more obituaries and death certificates, more survivors to the claim forms to be filled out and they never never received them. However when I call back from talking to some one else at the place I am told that the copies have been received and they are waiting to look over the documents or I am told the documents even the original documents are too dark for them to see. I would like to just get the money from her policy that I know she had instead of going to court but I will do what is needed because its been months and they refuse to pay her policy out. The poliBusiness response
07/09/2024
We are in receipt of the correspondence that you received from *********************. Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway, and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
07/08/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
Signed up for an IUL policy back in 2014. Paid into it for 10 years without issue. Decided to convert to a term policy instead, so surrendered this IUL. Filled out the paperwork to have the funds wire transferred to my bank account.5/24/24- ********************** confirmed they received my wire transfer request and surrendered policy. Anticipated 3-5 business days. Received no communication 6/3/24- had not received funds yet, so called back in. Said my funds had been voided and to wait another 3 business days. Received no communication 6/7/24- Funds not received. Called back in. They said the fund transfer had been voided and to wait another 3-5 business days while they investigated and resent funds. No communication on their end again.6/14- Called again. Received same exact information that my payment had been voided and they are working on it. Said to wait ***** hours and it will be disbursed. Again, no communication.6/17- funds still not disbursed, so called in again. Was told the same exact information- payment was voided and to wait 3-5 business days. They apologized as they saw that they had not communicated with me AT ALL. Said they would let me know going forward as progress is being made on my issue. Still received no communication from them.6/21- Called in again. Same exact message. Asked to wait another 5/8 business days. No communication.7/8- called in again. Same exact message. Since this is the 7th time Ive had to call in with no resolution in sight, they said they have resolved it an to wait 5-10 business days. Asked them to put a rush on this as that was not acceptable and also asked to speak with supervisor. Have been on the phone with them, currently on hold, for 40 minutes now with no end in sight. Dont think this will get resolved today.Business response
07/08/2024
We are in receipt of the correspondence that you received from *******************. Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway, and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
07/08/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I called transamerica back in November of 2023 that my sister passed away, they took the info over the phone said i would receive papers in the mail I received Nothing. My sister surrendered a life insurance policy since she was in a nursing home and had to give up all money to them to be able to get on ******** iam the beneficiary of the policy the surrendered amount is different then the policy she was holding I dont know how long the nursing home had the check because it wasn't signed so I could sign it. The many people I talked with since there. were a number of calls said in would receive papers In the mail they took my info my email address i heard Nothing. i sent in the death certificate so that should be in the computer system. I still have not gotten anything from them to be able to have the check made out to me they have all that where I live etc. I am tired of the run around or no help at all . Do I need to obtain a lawyer to get this done? I have read their reviews about their customer service and it's not good . I want the check that I have that is invalid by now to be issued to me so I can finally get this taken care of. I need a manager or supervisor to tell me what is the problem iam on the policy as beneficiary since iam her only living relative so I would this matter taken care of ASAP. I do not have any wish to call again and talk to another person about the same thing over and over again I just want immediate help with this.Business response
07/08/2024
We are in receipt of the correspondence that you received from *************************. Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway, and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
07/08/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
On 6/3/24 I applied for a hardship withdrawal due to recently having a stroke and at the request of transamerica three days later I submitted everything they requested, its now 7/3/2024 and I still have not gotten any closer to getting my money that I need for life saving medication and too be able to keep my place to live, I have been nothing less than stone walled, after submitting all the paperwork required to get my hardship withdrawal I was told that I would have my money within 7 days I waited over 10 days and when I called back I was told they then needed a pa approval, which I was not notified about at all and in actuality had nothing to do with me they just didnt do it, I then waited several more days before calling back and was then told that they need the exact date of disability which is clearly on the letter I submitted back on 6/6/2024 and am not not receiving return phone calls as promised and no one seems to know how to do there job, or how to get my money and telling me that they may need more information over a month in, I understand if more information was needed but Im not told that till I spend more time calling and have already provided said information, in actuality Ill probably be dead before receiving my money due to not being able to afford my medicationBusiness response
07/08/2024
Transamerica Retirement Solutions will review this complaint and respond directly to the participantInitial Complaint
07/01/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
There was a payment on March 4, 2024 made via a bank issued check firm$305 to Transamerica for my term life insurance policy. The check was never cashed and I was not notified by Transamerica that the check was never received. I found out by ********** on June 11, 2024 that they were going to cancel the check because it was never cashed. I called Transamerica and they canceled my policy even though they have it noted the letter informing me the policy was being canceled due to lack of payment came after the 30 day grace ******* I informed them I never got a letter and did not know my check wasnt received until the bank notified me. They will not let me continue the policy without filling out 11 pages of paperwork with information they already have.Business response
07/01/2024
We are in receipt of the correspondence that you received from *************************. Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway, and we will respond to the complainant in writing to as soon as we have concluded our review.Customer response
07/02/2024
Complaint: 21917284
I am rejecting this response because:
I would like my insurance reinstated without filling out paperwork with information you already have!
Sincerely,
*************************Business response
07/23/2024
We mailed our response on 07/16/2024 and if ************************* has any further concerns after receiving and reviewing our response then ************************* can reach out to us at the number or email address provided in the response.Business response
07/23/2024
We mailed our response on 07/16/2024 and if ************************* has any further concerns after receiving and reviewing our response then ************************* can reach out to us at the number or email address provided in the response.Initial Complaint
07/01/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I recently moved to a different town and decided to transfer my funeral arrangements closer to my home. On February 6, 2024, I contacted Transamerica/Monumental ********* *** about transferring the ownership of a policy to pay for my funeral arrangements. I was told that the procedure was to complete paperwork and send to them, which was done. nothing happened. I called again and was told paperwork was in process, pending. I will be notified. Since this initial paperwork was submitted the paperwork has been done an addition four more times. I have gone to the new funeral home and with the director worked with a Transamerica rep to complete paperwork and submit. Then again it was not good enough for whatever reason. Every time I call there is a new reason for the request to not go through. The last call I made was June 21, 2024 and I was told all the paperwork needs to be done again and add proof of ownership for the new funeral home (all legal identifications were included in the previous applications). When I ask to speak to a supervisor, I am put on hold for an extended period then call is disconnected.Business response
07/01/2024
We are in receipt of the correspondence that you received from *********************************. Due to privacy laws and regulations we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
06/24/2024
- Complaint Type:
- Order Issues
- Status:
- Resolved
On or about March 2024, Transamerica without authorization stopped the auto-debit premium payment for my life insurance policy (Policy Number ********). I received no prior notification on the lapse of the policy until a letter from Transamerica was received by mail on or after April 15, 2024. The letter indicated that "additional premium was needed to prevent this policy from lapsing. When the premium wasn't paid, the life insurance coverage under this policy lapsed at the end of the grace ******** Since 2009, the premiums for the Transamerica policy had auto-debited from my checking account. The checking account (***** Fargo) has remained active from 22 years and Transamerica has been authorized to debit the premiums against the account. Without authorization, Transamerica summarily stopped the auto-debit after February 2024. I made numerous phone calls to Transamerica to ascertain why this action was taken without any provocation nor authorization. Many mistruths were told by Transamerica's representatives up to and including accusing me of calling in and stopping the auto-debit. On two different occasions, agents told me that the policy had to be reinstated because of the missed premiums. I indicated that it was no fault of mine that the premiums were missed as I did not authorize the auto-debit of premiums to stop. Moreover, on two more occasions, I was told that the problem was being worked on. The last phone call, I was told that a courtesy reinstatement would occur after I paid the outstanding premiums and then I would have to call Transamerica back to reinstitute auto debit feature on the policy. As of today, I have not received a letter nor a phone call on the method by which I can pay the outstanding premiums. My life insurance has lapsed because this incident due to Transamerica's error.Business response
06/24/2024
We are in receipt of the correspondence that you received from ***********************. Due to privacy laws and regulations we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway and we will respond to the complainant in writing to as soon as we have concluded our review.Initial Complaint
06/24/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I filed a claim on 6/4/2024 with Transamerica (policy #**********) and was told by ******* on 6/5/2024 that all documents were received and would be sent for review. I was told by ******* to give the process 5-10 business days.I called on 6/21/2024 and was advised that the claim has not even been reviewed and will need to go through a third party for review. I was told they have no idea how long this process will take and that they couldn't provide me with any further information. Had I been offered a time frame or sent to the examiner to get more information I would have been okay with the wait; however, I feel as if the company is just giving me the run around and not actually addressing the claim.Business response
06/24/2024
We are in receipt of the correspondence that you received from ***********************. Due to privacy laws and regulations, we apologize that we cannot provide a comprehensive response to the BBB.
We take consumer concerns seriously and this matter has our full attention. Our investigation is underway, and we will respond to the complainant in writing to as soon as we have concluded our review.
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Customer Complaints Summary
567 total complaints in the last 3 years.
225 complaints closed in the last 12 months.