Transamerica offers term, whole and indexed universal life insurance policies with coverage of more than $10 million. We'll break down Transamerica's rates and what coverage you can get.
Read our full Transamerica life insurance review below.
Updated: January 16, 2026
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Transamerica works well for buyers who want flexibility in term length and coverage amount. We ranked Transamerica among the best life insurance companies in our 2026 analysis, based on pricing, coverage options and underwriting flexibility.
Coverage amounts of $10 million or more help high-earning households replace income, cover estate obligations and fund long-term financial needs.
The company also made our list of the cheapest life insurance for people with pre-existing conditions.
Transamerica sells term, whole, indexed universal and final expense policies. Each product serves different financial planning needs. Term life provides affordable coverage for a set period, while permanent policies build cash value and last your entire life.
Unlike health insurance, life insurance policies don't have deductibles. Beneficiaries receive the full death benefit amount.
Term life insurance covers you for a specific period. Premiums stay level throughout your term, and the policy expires at the end unless you renew or convert it.
Offers standard term life coverage with level premiums. You can buy coverage from $100,000 to $10 million if you complete a medical exam. Trendsetter LB includes conversion options that let you switch to permanent coverage later without new underwriting.
Same term lengths as Trendsetter LB but with simplified underwriting for healthy applicants. You can get up to $2 million in coverage without a medical exam. The accelerated application process works well when you need coverage quickly.
Whole life insurance lasts your entire life and builds cash value you can borrow against. Premiums stay level, and the death benefit stays guaranteed as long as you pay premiums. The cash value grows at a rate the insurance company sets, providing predictable accumulation.
This whole life policy guarantees level premiums and a death benefit that won't decrease. The policy builds cash value you can access through loans or withdrawals. You can also add riders to customize coverage for your family's needs.
Indexed universal life insurance ties cash value growth to a stock market index like the S&P 500. You get upside potential when the index performs well, with downside protection through a guaranteed minimum return.
FFIUL II links your cash value to index performance with flexible premium payments. You can adjust death benefits and premium amounts as your finances change. The policy includes a guaranteed minimum interest rate even when the index performance drops.
Lets you spread cash value across different indexes to diversify growth potential. The policy provides more customization than FFIUL II for buyers who want hands-on management of their insurance investment.
Final expense insurance covers end-of-life costs like funeral services, medical bills and estate settlement. These policies have smaller death benefits and simplified underwriting designed for older adults. Premiums cost more per thousand dollars of coverage than term life, but approval is easier if you have health issues.
Coverage with a streamlined application. The policy doesn't require a medical exam, making it accessible for seniors with pre-existing conditions. Death benefits range from $5,000 to $35,000, depending on your age and health history.
Guaranteed acceptance for applicants aged 50–80. You answer health questions but don't need an exam or lab work. The policy pays the full death benefit immediately for approved applicants, unlike graded final expense plans that apply waiting periods.
Riders customize your base policy with additional benefits. Each rider adds specific financial protection or features beyond standard life insurance coverage. Availability depends on the policy type you buy.
Rider | Description |
|---|---|
Accelerated Death Benefit (with Nursing Home Benefit) | Pays portion of death benefit early if diagnosed with terminal illness or requires nursing home care |
Accidental Death Benefit | Pays additional death benefit if you die from covered accident |
Additional Insured | Adds coverage for spouse or other family member on same policy |
Base Insurance | Provides guaranteed minimum death benefit regardless of cash value performance |
Children's and Grandchildren's | Covers children or grandchildren with permanent insurance that converts to their own policy later |
Rider availability varies by state. Contact Transamerica or a licensed agent to confirm which riders are available in your location.
Life insurance costs depend on age, health, coverage amount and policy type. Transamerica prices policies based on life expectancy factors. Younger, healthier applicants pay less per month because they're less likely to die during the policy term. Smokers pay roughly double what nonsmokers pay for the same coverage.
The table below shows average term life insurance costs for people with average height, weight and health based on our 2026 survey of life insurance companies. Your actual premium will differ based on your situation and the underwriting information you provide.
| $100,000 | $16 | $192 |
| $250,000 | $27 | $323 |
| $500,000 | $46 | $551 |
| $750,000 | $68 | $815 |
| $1,000,000 | $88 | $1,054 |
| $1,500,000 | $131 | $1,569 |
| $2,000,000 | $174 | $2,084 |
| $3,000,000 | $260 | $3,114 |
Life insurance rates and availability vary significantly by state, age, health, medical history, lifestyle factors and coverage amount. Rates shown are estimates based on our 2026 survey methodology and may not reflect your actual premium. Individual quotes may differ from these averages.
Start your Transamerica application online or contact a licensed agent. Online applications walk you through coverage selection, beneficiary designation and health questions. The process takes 15-30 minutes for most applicants.
Beneficiaries file claims by calling 800-523-7900 or submitting the online claims form. You'll need a certified copy of the death certificate and the policy number. Transamerica reviews the claim and verifies the policy was in force at the time of death. The company checks that all premiums were paid and no exclusions apply.
Transamerica pays death benefits directly to named life insurance beneficiaries. You can choose a lump sum payment or a structured settlement that spreads payments over time. Lump sums give immediate access to funds, while structured settlements provide guaranteed income streams.
MoneyGeek Score | 4.4/5 | 4.7/5 | 4.5/5 | 4.7/5 | 4.6/5 |
Policy Types | Term, Whole, IUL, Final Expense | Term, Whole, Universal, IUL | Term, Whole, Universal, IUL | Term, Whole, IUL | Term, Whole, Universal |
No-Exam Policies? | Yes | Yes | Yes | Yes | Yes |
NAIC Complaint Index | N/A | N/A | N/A | N/A | 0.08 |
J.D. Power Score | 615 | 653 | 666 | N/A | 685 |
A.M. Best Rating | A | A+ | A+ | A+ | A++ |
Customer Sentiment | 49.81% positive, 50.19% negative | 82% positive, 18% negative | 77% positive, 23% negative | 95.33% positive, 4.67% negative | 90% positive, 10% negative |
Transamerica has term, whole and indexed universal life insurance policies. It offers coverage amounts up to $10 million for term policies and flexible underwriting that accommodates some pre-existing conditions. Choose Transamerica if you need high coverage limits, want multiple permanent insurance options or have health conditions that make approval difficult elsewhere.
Customer satisfaction scores are lower than ratings for other top-ranked competitors, with Transamerica placing 18th in J.D. Power's individual life insurance study. Mixed customer reviews suggest inconsistent service experiences. Compare insurers with higher customer satisfaction scores and stronger digital tools if service experience and online access matter most to you.
Transamerica sells term life insurance with 10- to 30-year terms, whole life insurance, indexed universal life insurance and final expense policies. Term life provides affordable financial protection for specific periods. Permanent policies last your entire life and build cash value.
Yes, Transamerica's Trendsetter Super offers up to $2 million in term life coverage without a medical exam. Final expense policies also use simplified underwriting without exams. No-exam policies carry higher premiums because the insurer prices in greater uncertainty without medical underwriting.
Most Transamerica term policies include conversion options that let you switch to whole or universal life insurance without new underwriting. Conversion typically must occur before the term ends or before you reach a specified age, like 65 or 70.
Shopping for life insurance means comparing companies that price risk differently. We built this Transamerica life insurance review around the three factors buyers actually weigh:
Our Sample Profile
We started with a baseline: 40-year-old male nonsmoker, 5'9", 160 pounds, average health rating. We then adjusted age, gender, height, weight, tobacco use and health rating one variable at a time to map how Transamerica prices different applicants.
We also analyzed different term lengths because your obligations change over time.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
