Business Profile

Insurance Companies

Transamerica Life Insurance Company

Headquarters

This business is NOT BBB Accredited.

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Complaints

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

Customer Complaints Summary

706 total complaints in the last 3 years.
294 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.

Initial Complaint
Date:01/30/2023
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
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.
Today Jan 30th,2023 the Transamerica ************** Insurance cannot process my claim until Feb 6 and then will take 15 days to process. They say they are updating their computers but questionable who takes 2 weeks of nothing can be done inbetween. I have spent over 2 hours waiting for necessary departments to get on phone from claims department to intake department back to claims department because the lack of their computer skills. I am trying to put my mother in assisted living and while waiting for all the transfers- have been disconnected 2 times and had to start the whole process over because they said they couldn't put any notes in computer. This business is a multimillion company and cannot contact the assisted living facility for 2 weeks because of their upgrade I find difficult to believe. *************************
Business Response
Date: 02/01/2023
Can you please provide us with your policy information so we may look into this matter further?
Initial Complaint
Date:01/30/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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.
Due to the increase cost of my Life Insurance policy I decided to do a Cash Surrender. I completed a Disbursement Request Form and faxed it on 10/12/2022. Since TransAmerica had made the policy read M ***** and the Disbursement form was completed using my name *********************** ***** they mailed me a Name Change form which I completed and faxed back to them. They then send a request for proof of who I am. I faxed a copy of my passport and THEN they sent me a letter stating they could not read the copy of my passport. So then I mailed a good clean copy of my passport and then TansAmerica sent another letter stating they still could not read the copy and requested I copy the passport on color setting on the printer. This I did and called their customer service a week later and they stated everything was readable and they were in the process of sending the cash surrender. Yesterday I received another letter stating the original Disbursement request form was out of date and to complete another form and mail it to them. This updated form will go out Monday in the mail. I'm at a loss as to how to deal with this poor service. My wife requested a Cash Surrender the same day and it took less than three weeks for the check to arrive. I want TransAmerica to be notified of this issue I am having. I requested each time to speak with a supervisor and was told there was no one to help me. From October 12, 2022 to January 27, 2023 and still unsolved.
Business Response
Date: 01/31/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Initial Complaint
Date:01/30/2023
Type:Product Issues
Status:
ResolvedMore info
Complaint statuses
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.
- On 12/16/22, I called to request a loan from my life insurance account of $****** and I requested a wire transfer and pay the wire transfer fee of $50.00. I gave my bank information for wire transfer. - On 12/19/22, Transamerica debited from my life insurance account $ ******.- On 12/23/22, I called to check the status because I didn't get the money in my bank yet, and I was told Wire transferred on 12/21/22 and to wait to call back after Christmas.- On 12/29/22, I called customer service and found out that they wired to the wrong account while I gave them my correct bank account number. He requested to reverse and told me to call back after New Year.- On 01/03/23 - I called back, and customer service said there was no result yet and told me to call back.- On 01/06/23 - I called and still did not have the result.- On 01/13/23 - I called and still did not have the result.- On 01/20/23 - I called and talked to ************; she said the company got the money back and will wire transfer on Monday 01/23/23 or Tuesday 01/24/23. She will call me back to let me know.- 01/27/23 - I called in because I have yet to receive a phone call from ***** and asked for the status. ***** told me there is no status on when my loan will be wired back to me.It has been over a month, and I still haven't gotten my money while I have been paid the interest. It is not my fault. I gave my correct bank information, and they wired it to the wrong account.Transamerica already got the money back and kept my money don't wire to me. I am so tired of keep calling them and am still don't know when I will get my money. I need money for my personal use, which is why I requested the loan.
Business Response
Date: 01/31/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Customer Answer
Date: 01/31/2023

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********. I am waiting for them to respond to me. I just need them to wire transfer back to my bank account of the loan I requested and they debited from my account. I will give you an update when its resolved.

Sincerely,

***********************
Initial Complaint
Date:01/30/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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 purchased life insurance in 2015 from Transamerica. Transamerica has been dishonest with me regarding my policy. When you call in to speak with a rep, the wait time is no less than 1.5 hours, and the longest time for me has been 3 hours. I've been told so many lies, and its been so much inconsistency among their customer care representatives. The representatives tell me something different, EVERY time I call, regarding my policy. It took a supervisor 4 days to return my call, after I requested. The supervisor and I discussed my policy and payments, she basically stated that I should NOT have been a reinstatement was needed, and doesn't know why I was told that". We discussed payments, and being told that they did not have my account information (which was a LIE), the supervisor stated "my bank had stopped a payment for insufficient funds or there was probably a glitch in their (TRANSAMERICA) system, and I would have to go to my bank, get statements and prove that they (my bank) did not return anything, and that I didn't have insufficient funds". I did as requested, my bank statement showed that I have NOT had any insufficient funds, nor have I had anything returned to Transamerica or anyone else. The bank said to tell Transamerica to "look at the account balance, because it's apparent, the insurance company messed up, there was a glitch in (Transamerica) system and they need to own their mistakes and not blame me or the bank". This has been an ongoing issue, and every time I do speak with a representative, they tell me something different. The supervisor stated once I faxed in bank statements, proving that it was not my fault or the banks faults, and that I had money in my account, my policy would be corrected, and no further action would be needed. My account is still NOT fixed.I really think this company is very unprofessional. I still have yet to receive a response, I guess they're coming up with another fictional story to tell me, to cover their mistakes.
Business Response
Date: 01/31/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Customer Answer
Date: 02/01/2023

Complaint: 18887756

I am rejecting this response because: Transamerica knows this is a generated response and they do not follow through on anything they say. Its always theyre going to look into it, instead of saying they messed up. This is not a solution to the problem they created and then they always want to put it back on the customer. I refuse to accept this and they need to correct the problem and fix their mistake immediately.

Sincerely,

***********************
Business Response
Date: 02/02/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Initial Complaint
Date:01/26/2023
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
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 have life insurance with transamerican life I moved to ******* and they would change my address so I my payment was late and now they cancelled my life insurance reason it was late was because they kept sending bills to ************** I tried reasoning with them but they called me a lier and want except payments their being unreasonable with all of this
Business Response
Date: 02/08/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Initial Complaint
Date:01/26/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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 have been attempting to get information on the payout of my parents life insurance policies. I sent emails requesting information on 05/22/2020 and 06/25/2022. I sent a letter (attached) on October 23, 2022. All of which I haven't received a reply.I have ***** of ******** that I can provide if needed.
Business Response
Date: 01/26/2023
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. Please be assured that we will respond directly to the complainant and address their concerns
Customer Answer
Date: 02/04/2023

Complaint: 18897774

I am rejecting this response because: I have not received any correspondence from Transamerica Life Insurance.

Sincerely,

*****************************
Business Response
Date: 02/07/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Initial Complaint
Date:01/24/2023
Type:Sales and Advertising Issues
Status:
ResolvedMore info
Complaint statuses
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 have be unable to connect Transamerica insurance regarding policies that I had on my daughter for nearly ***************************************************************************************************** May 2021. I have not heard anything from ***. I have not received any notices from them. I am moved, but by mail was immediately transferred to my new address, I have sent them numerous emails going back to October 2022. They informed me that they received the email and that someone will contact me in a couple of days. No one has contacted me yet. Its virtually impossible to get someone over the phone and when you they send you to 2 or 4 different number ,I have also written a letter to them, but to no avail. I had been paying on those policies for 34 years since my daughter was four years old she is now 37. When she turned 25 the policies change from term to whole life insurance policy and for Transamerica not to know anything cant find any records Ive given them all the policy numbers that I have thats on the actual policies that Ive had all those years and they dont know anything cant tell me anything. I hope you all can assist me with this.
Business Response
Date: 01/24/2023
Can you please provide us with your daughter's name and the policy information you have so we may look into this matter further for you?
Customer Answer
Date: 02/06/2023
I have emailed them several times with the policy numbers as well as mailed copies if the front pages of the policies. I find it unbelievable they dont have anything.
Business Response
Date: 02/08/2023
We understand your frustration. You did not provide us with your daughter's name or the policy information in your complaint, so we will need that in order to locate the policy and look at the notes of your previous correspondence. Can you please provide us with your daughter's name and the policy information?
Customer Answer
Date: 02/08/2023

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,

***************************
Initial Complaint
Date:01/17/2023
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
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 have been trying to reach them to see about withdrawing from my 403 plan while I was out of work now Im no longer working. I need to speak with somebody about what can I help with nobody will return my calls or answer the phone. I have contribute to this account if Im able to withdraw from it, I need to know so I can pay my bills they can mail my check to my home.
Business Response
Date: 01/18/2023
Transamerica Retirement Solutions has been in contact with this participant to answer his questions regarding his account.
Customer Answer
Date: 03/02/2023
I am a former employee, at Atrium ************************** yes I do have a plan with TransAmerica. I ended my employment with Atrium **************************, December 27, 2022. I was told by TransAmerica employee that it takes 30 days for my job to send over the day I quit basically to TransAmerica so because I worked for Atrium, I have to deal with Atrium call center which is even more horrible all I know is I keep getting different stories from TransAmerica and Atrium about them not receiving my termination day saying that they called my employer to get my termination date and they have not respond. I was also told that if they did not respond. They can force my account to where ** able to withdraw my money, now ** being told two months later that I still have to wait until the job tell them that I quit such and such day. My word is not good enough but you can just take money out of my account and thats OK. Once this get situated, I will never use TransAmerica again because all they kept doing is telling his stories day after day week after week after I weighed it four weeks as they instructed me to and they still cant do nothing. Im very disappointed Ill ***** my money with me.
Business Response
Date: 03/02/2023
Transamerica Retirement Solutions is required to follow the contract rules of a plan. We have been in communication with ************** regarding the pending resolution. We are not able to speak as to the call handling or services of another company's handling of his account.
Initial Complaint
Date:01/12/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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 have a life insurance policy with Transamerica Life Insurance Company of ************, ****. I pay a yearly amount of $397. I received the yearly bill in October of 2022 that was due on November 8 and paid the bill of $397 on November 1, 2022. I received a letter on November 9 that the bill had not been paid. I called their customer service and was told that my initial payment was lost. I gave them the bank information that was proof of my payment and they started an investigation to find my payment.On December 5, 2022, I sent a second payment of $397 so that I would not lose my life insurance policy. I called the company on November 11, but they still state that my initial payment was lost and that they continue to investigate the loss. I emailed them further proof from my bank of the initial payment to ********************************************** They will not provide me with any contact information so that this can be resolved and they have not yet returned my initial payment of $397.
Business Response
Date: 01/13/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Customer Answer
Date: 01/13/2023

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,

***************************
Customer Answer
Date: 02/14/2023
I paid my yearly life insurance premium on November 1, 2022, of $397. The company sent me another notice shortly later asking for another payment of $397. After numerous phone calls to the company and my bank, my case was put on investigation to find the initial transaction. I order to avoid losing my life insurance, I made a second payment of $397 on December 5, 2022. Several phone calls and emails later, showing multiple evidence and proof of payment from my bank, I received letters from the company asking for further evidence that I made the initial payment. Further letters have now been mailed directly from my bank with further proof of payment. The company continues to stall the return of my overpayment of $397.
Business Response
Date: 02/15/2023
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. Please be assured that we will respond directly to the complainant and address their concerns
Initial Complaint
Date:01/11/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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.
In June of 2012, I started a term life insurance policy on a 10 year term of 500K coverage at a cost $27.56 per month. As we approached the 10 year term of that policy, I started a replacement policy with Transamerica. I was told that if I didnt renew then the old policy would cancel and I would just have the new policy. Well that didnt happen and I was billed for 5 months at the rate of ****** before I noticed. I started calling in late Oct and probably called over a dozen times, promised a call back every time and only called back 3 times. The service has been terrible. I was originally told I should be able to get a refund because they pulled a call where she admitted she understood why I felt like i didnt need to cancel but despite that, they have since denied my request for a refund. I would like a refund for all charges collected after my policy should have ended. If not, I will also be cancelling my new policy once I secure a replacement.
Business Response
Date: 01/12/2023
Can you please provide us with your policy number so we may investigate this matter further?
Customer Answer
Date: 01/13/2023

Complaint: 18717845

Policy #********

Sincerely,

*****************************
Business Response
Date: 01/17/2023
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. Please be assured that we will respond directly to the complainant and address their concerns.
Customer Answer
Date: 01/17/2023

Complaint: 18717845

I am waiting to hear from them as they said they would reach out to me

Sincerely,

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

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Transamerica Life Insurance Company is NOT a BBB Accredited Business.