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Transamerica offers life insurance in all 50 states, although availability varies by product.
Transamerica’s life insurance policies pay a tax-free death benefit to the policyholder’s beneficiaries to be used as they see fit, such as to cover daily expenses, end-of-life or funeral costs, or for future needs.
Transamerica offers a number of riders to provide additional coverage to your policy. Living Benefit Riders offer coverage for chronic illness, critical illness and terminal illness accelerated death benefit riders, all of which could be accessed while the policyholder is still alive.
Other riders for customizing your coverage include an accidental death benefit rider, a children’s benefit rider, a disability waiver of premium rider, an income protection option, and a guaranteed insurability benefit rider. When purchasing a life insurance policy, be sure to discuss these riders with your agent to determine if they are right for you.
Depending on the type of life insurance policy you choose, benefits include guaranteed level or flexible premiums, lifetime or custom coverage, a tax-deferred cash value that can be accessed at any time, and the opportunity to earn interest based on a steady rate or on the performance of an index.
Generally, life insurance companies are bound by state laws regarding how long you have to claim insurance benefits. Contact Transamerica or an insurance agent directly for more information.
Not all Transamerica products are available for loans. For those that are, loan amounts vary.
Transamerica is not a mutual company and therefore does not pay dividends to policyholders.
Transamerica’s maximum coverage varies by product as well as the applicant’s eligibility.
In general, life insurance companies are bound by state laws regarding payment for suicidal death. Policyholders who have held policies for more than two years are generally eligible for a claim. However, Transamerica’s policy may vary by policy type and state, so you should contact the company or an insurance agent directly for more information.
If you, or anyone you know, are contemplating suicide, help is available. Call, text, or chat 988 any time of day for free, confidential support from the 988 Suicide & Crisis Lifeline. The organization also operates more than 200 crisis centers that offer encouragement and local resources. Please reach out to them if you are in crisis.
In general, life insurance companies are bound by state laws regarding payment for a drug overdose. Policyholders who have held policies for more than two years are generally eligible for a claim. However, Transamerica’s policy may vary by policy type and state, so you should contact the company or an insurance agent directly for more information.
Applicants are not automatically disqualified based on a history of cancer. Transamerica says that eligibility varies by a number of factors.