Few companies remain at the top of their industry for several years, or even several decades at at time. This, however, is something Transamerica has been able to do, marking them a likely candidate for top 10 best life insurance companies in America. With a strong foundation and forward thinking strategy, Transamerica Life Insurance Company looks to stay ahead.
Our Transamerica Life Insurance Company Review
A young entrepreneur with the heart to help those who needed it most began what was then called Bank of Italy in 1904. This would later merge with a name we all recognize today, Bank of America, which would eventually acquire and rename the Occidental Life Insurance Company to Transamerica.
The company tried its hand in several different aspects before the 90’s, including airlines, renting vehicles and more, but would ultimately choose the insurance and financial world as its sole line of business. It still brands its name with the San Franciscan skyline building it primarily used, although it has since moved its headquarters.
Transamerica boasts a very solid financial rating report from A.M. Best, Fitch, Moody’s and Standard and Poor’s, respectively. With “A” or better scores from all four, it can brag to be among the top life insurance companies in the U.S., and even financial institutions for that matter, in all of the United States of America.
Within their insurance arm, a big selection of products are available. This includes term life insurance, universal and variable universal life insurance, whole life, and even accidental and long term care. They are also one of the leading burial life insurance companies in the U.S. While life insurance represents the greatest portion of what it does, it’s no stranger to the rest placing millions of dollars in business annually.
Outside of its significant life insurance market lies additional financial tools they offer through affiliates, independent financial partners and consultants. Among these are pensions, retirement plans like 401(k) and 403(b), IRA’s and Roth IRA’s, mutual funds and annuities. Aimed at becoming a full financial powerhouse for its clients, it hosts both national and international offices.
Aside from substantial recognition and growth in business, Transamerica and its name also represent community involvement and a green footprint. The Aegon Transamerica Foundation, for example, gave almost $7 million last year through its efforts and the efforts of its employees for inner city reconstruction and rehabilitation. It has also promoted the Habitat for Humanity, partnering with multiple events in the U.S.A. this year.
It’s no secret Transamerica has a strong marketing and branding campaign outside of the normal ads and marketing avenues, with sponsorships spanning the Professional Golf Association, the Ladies Professional Golf Association, and the famed Johnny Unitas Golden Arm Award, which is one of the top honors for NCAA Football quarterbacks across the country.
With a strong foundation, strong brand and perseverance for success in the fast paced economy we live in, Transamerica prides itself on adding value in every way it can for its clients, whether they are individuals, small families, business owners or some of the largest corporations.
|Company Name (and Subsidiaries)||Transamerica Corporation
Transamerica Life Insurance Company
Transamerica Financial Life Insurance Company
Transamerica Advisors Life Insurance Company
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Transamerica Life Canada
|Company Ratings||A.M. Best (A+)
Moody’s Investors Services (A1)
Standard & Poor’s (AA-)
|Headquarters (Address, Phone, Web)||4333 Edgewood Road NE
Cedar Rapids, IA 52499
|Policy Types Available||Term