Overview
| AM Best Rating | A (Excellent) |
| Parent | Aegon N.V. (Dutch multinational) |
| Founded | 1928 |
| HQ | Cedar Rapids, Iowa |
| Best For | Budget-conscious shoppers, chewing tobacco users |
| Term Rate (35M, $500K, 20yr) | ~$27/mo |
Pros & Cons
- ✅ Consistently one of the lowest term rates
- ✅ Accepts chewing/smokeless tobacco as non-smoker at certain levels
- ✅ Wide product range (term, IUL, WL, final expense)
- ✅ Available in all 50 states
- ✅ Strong no-exam accelerated underwriting
- ❌ AM Best rating is A (not A+) — one notch below top competitors
- ❌ Customer service reviews are mixed
- ❌ Some older products have been restructured
- ❌ Not ideal for complex health histories
2026 Transamerica Rate Samples
| Age / Gender | $250K, 20yr | $500K, 20yr | $1M, 20yr |
|---|---|---|---|
| 30, Male | $14/mo | $23/mo | $39/mo |
| 35, Male | $18/mo | $27/mo | $47/mo |
| 35, Female | $15/mo | $23/mo | $40/mo |
| 40, Male | $25/mo | $39/mo | $70/mo |
| 45, Male | $38/mo | $62/mo | $112/mo |
| 50, Male | $59/mo | $97/mo | $174/mo |
The Tobacco Advantage
Transamerica is one of the few carriers that may classify smokeless/chewing tobacco users as non-smokers at certain use levels — depending on frequency and form. This can mean saving hundreds per year vs carriers that automatically apply smoker rates to all tobacco users. Ask your broker specifically about this if it applies to you.
Products Available
| Product | Coverage | Ages |
|---|---|---|
| Trendsetter Super (term) | $25K–$10M | 18–80 |
| Trendsetter LB (living benefits) | $25K–$10M | 18–80 |
| Financial Foundation IUL | $25K+ | 0–85 |
| Final Expense | $1K–$50K | 45–85 |
Our Verdict
Good choice for budget shoppers and smokeless tobacco users. Transamerica is often the cheapest or second-cheapest carrier for healthy non-smokers. The AM Best "A" rating (vs A+ or A++ at competitors) is the main caveat — it's still excellent financial strength, just not top-tier. For most people, the lower rate makes Transamerica worth considering.
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