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Transamerica Life Insurance Company complaints

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4333 Edgewood Road NE
Cedar Rapids, IA 52499 | Get Directions

(800) 797-2643

http://www.transamerica.com

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Total Amount in Dispute:
$14,830.00

Total Amount Settled:
$0.00

Complaint Experience

50%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

However, the company failed to respond to one complaint.

Complaint Closing Statistics

4 complaints against Transamerica Life Insurance Company closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
3	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
1	Unanswered

4 complaints against Transamerica Life Insurance Company

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4/1/2024

RESPONSE: Agreed to make an adjustment Amount in Dispute: $10,000.00 Amount Settled: $0.00

Customer Complaint

3/15/2024

Reference Transamerica Policy Number ML0128679 and Claim Number A8522503. My father had a life insurance policy ($10K) with Transamerica. He passed away in Gainesville, FL, May 2023. It's been 10 months since my father passed and the claim has not been processed. I've called Transamerica countless times, asked for updates with nothing definitive other than the paperwork was complete, and requested a call back from a claim's supervisor. The entire amount ($10K) is to be paid directly to the funeral home which is currently accruing interest. To date, no one has returned my call, and the claim has not been processed. This is unacceptable! Resolution Sought Transamerica pay the claim and pay the interest to the funeral home.

Company Response

3/18/2024

We are currently reviewing this complaint under file 21422268. Thank you.

11/30/2022

RESPONSE: Agreed to make an adjustment Amount in Dispute: $4,420.00 Amount Settled: $0.00

Customer Complaint

10/20/2022

I have been paying for 2 insurance policy for 6 years , surrendered the policy's and this company won't pay , checks bounce Resolution Sought Be put out off buisness. I want money back in my account.

Company Response

10/21/2022

We are in receipt of the correspondence that you received from Ms. Moore. Due to privacy laws and regulations we apologize that we cannot provide a comprehensive response to the Business Consumer Alliance. Please be assured that we will respond directly to the complainant and address their concerns

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