Transamerica Life Insurance Review

Company overview and ratings

Transamerica is a large stock insurer owned by Aegon Ltd. Its roots go back to the Bank of Italy, founded in San Francisco in 1904, and it became part of Aegon in 1999. Aegon has said it plans to move its legal seat to the US and rename itself Transamerica Inc.

AM Best affirmed an A (Excellent) financial strength rating on February 13, 2026, with a stable outlook. That is one notch below the A+ held by some peers. Older agent material that shows A+ is out of date.

Policies outside New York are issued by Transamerica Life Insurance Company of Cedar Rapids, Iowa. In New York the issuer is Transamerica Financial Life Insurance Company, and Trendsetter and Financial Foundation IUL are not offered there.

Final expense: Immediate, 10-Pay and Easy Solution

Transamerica’s final expense line stands out for its wide age range. Immediate Solution and 10-Pay Solution issue from birth to age 85 and pay the full benefit from day one. The maximum is $50,000 through age 55, $40,000 at 56 to 65, $30,000 at 66 to 75 and $25,000 at 76 to 85.

Easy Solution is the graded option for ages 18 to 80, up to $25,000. In the first two years it pays the full amount for accidental death. For other causes it pays 110% of premiums paid, and the full amount from year three.

Applicants aged 45 to 85 answer a cascading set of health questions. The answers place them in Preferred or Standard Immediate Solution, Easy Solution, or a decline. Transamerica says no exam or labs are needed and same-day approval is possible.

Expedited claims can pay up to $25,000 quickly, which helps families cover funeral costs. A nursing home benefit is available as an accelerated benefit in many states, though not in New York.

Trendsetter term life

Trendsetter Super is a high-limit term policy for ages 18 to 80. It offers 10, 15, 20, 25 and 30-year terms from $25,000 to $10 million and more. Non-medical underwriting is available through $2 million, subject to age and risk-class limits.

Premiums are level for the initial term and then rise each year. The policy can convert to permanent coverage without a new exam. A terminal illness accelerated benefit is included, and optional riders cover disability waiver, children and accidental death.

Trendsetter LB adds critical, chronic and terminal illness accelerated benefits for people who want living benefits. It starts at $25,000. See our no-exam comparison for how it stacks up.

Financial Foundation IUL

Financial Foundation IUL is Transamerica’s middle-market indexed policy. The 2023 agent guide lists issue ages 0 to 85 (0 to 75 in Florida), a minimum of $25,000, and 15 years of surrender charges. It includes a terminal illness benefit and offers optional chronic, critical illness and long-term care riders.

Transamerica has since released an updated version, and trade press describes an instant-decision Express edition. Ask your agent which version is current in your state before comparing illustrations on our IUL page.

Who Transamerica fits

Transamerica suits families who want one carrier for several generations. Its final expense line issues from birth to age 85, and a rider can add children and grandchildren to a policy.

Trendsetter Super fits people who need large term amounts, up to $10 million and more, or non-medical term into their 70s. Buyers who weigh customer complaints heavily may want to compare it with A+ carriers first.

People whose health only qualifies for Easy Solution should know it returns 110% of premiums for illness-related death in the first two years. A carrier with a partial-benefit graded plan may suit them better.

Pros and cons

Pros: final expense from birth to 85 with day-one coverage; term limits above $10 million; non-medical term to $2 million for eligible applicants; a children’s and grandchildren’s rider on final expense.

Cons: an A rating rather than A+; graded coverage in the first two years returns only 110% of premiums; Trendsetter and its IUL are not sold in New York. NerdWallet reported in February 2026 that Transamerica drew more complaints than expected for its size over three years.

Buying through an independent agent vs direct

Transamerica sells life insurance mainly through agents and brokers, so an independent agent can usually quote it alongside other carriers. That matters for final expense, where each company treats the same health condition differently.

An agent can check whether you qualify for Immediate Solution before you accept a graded plan. Transamerica’s older agent guide also auto-declined anyone previously declined by a Transamerica company, so applying in the right order counts.