Transamerica final expense life insurance plans offer a fast and easy way to ensure your loved ones are protected from end-of-life expenses that often arise from an unexpected passing.
Transamerica Final Expense Pros:
- No Medical Exam or Labs Required
- Built-In Nursing Home Benefit
- Optional Children/Grandchildren Rider
- Two Risk Classes for Low Competitive Rates
- Pay with Social Security Direct Express
- Instant Approval Potential
Transamerica Final Expense Cons:
- 2-Year Graded Benefit Plan Is Costly
Transamerica Life Insurance Company offers two final expense life insurance plans focused on providing financial protection related to end-of-life expenses such as funeral costs.
Funeral expenses cost an average of $9,995 to $24,700, depending on the variety of different services chosen. In addition to those costs, end-of-life expenses often include immediate household expenses, car loans, medical debt, and in many cases, the loss of income from a deceased partner.
When a death occurs, it often creates a financial burden on our loved ones and the people close to us. A life insurance policy is one of the best ways to protect them from that burden. Transamerica offers its two Final Expense Solutions Whole Life Insurance plans if you are worried about your passing becoming a financial burden on your loved ones.
The two final expense whole life insurance options include:
- Transamerica Immediate Solution
- Transamerica Easy Solution
While both options offer financial protection for your loved ones, there are essential differences between the two plans. This review will look at the features, including maximum coverage amounts, available policy riders, and more.
Transamerica Life Insurance Company
Transamerica Corporation has over 115 years of experience and a wide range of insurance products and financial services. The company was founded as the Bank of Italy in San Francisco in 1904 and later became Bank of America.
In 1928, the founder placed Bank of America into a holding company. The holding company was named the Transamerica Corporation. Over the years, Transamerica acquired several other companies, including Occidental Life Insurance, United Artists, and Budget Rent a Car.
In 1972, the Transamerica Corporation completed the construction of the 48-story Transamerica Pyramid in San Francisco. While the building was sold to Deutsche Finance America in 2020 for a reported $650 million dollar sale, Transamerica continues to use the skyscraper as its company logo.
The corporation divested some of its acquisitions in the 1980s to focus on financial services, including insurance, investment advice, and retirement planning. In 1999, the corporation was acquired by Aegon.
Aegon is a Dutch corporation with headquarters in The Hague, Netherlands. However, the company maintains a large presence in the United States and serves over 30 million customers worldwide.
Transamerica Financial Strength Ratings
The Transamerica Life Insurance Company has strong financial ratings from the leading rating agencies. Here is a closer look:
- AM Best: A (Excellent)
- Moody’s: A1 (Low credit risk)
- S&P Global: A+ (Strong)
High financial ratings indicate that a company is at a very low risk of defaulting on its financial obligations to its policyholders. The ratings provide peace of mind that you do not need to worry about Transamerica failing to pay a claim.
Transamerica’s parent company, Aegon, is among the highest-ranked life insurers from AM Best’s annual rankings. Aegon USA Group was the 13th largest insurer for 2021 based on admitted assets.
Transamerica Final Expense Life Insurance Plans
Transamerica offers two whole life insurance options specifically intended for final expense planning. The plans include guaranteed level premiums for life and cash value accumulation.
These plans are often an excellent choice for seniors who want to avoid placing a financial burden on their loved ones at the time of their passing. In addition, you may consider obtaining coverage to supplement other insurance policies, cover final expenses, or for greater financial security for your beneficiaries.
The two Transamerica burial insurance options include:
- Immediate Solution (Full Coverage)
- Easy Solution (Graded Death Benefit)
The two final expense options have a couple of important distinctions but also include many of the exact details. Both insurance plans include the following features:
- No medical exam required
- Permanent whole life insurance protection
- Income tax-free death benefit
- Guaranteed cash value that can be borrowed against
- Electronic application submission
- Streamlined underwriting process
- Potential for instant approval
You do not need to complete a medical exam or wait weeks for approval. Transamerica offers a simple application process with streamlined underwriting. Depending on your age and health, you may apply, receive approval, and obtain full coverage in a single day.
However, determining whether either option is right for you requires a closer look. Here is a rundown of the main features of each of the two Transamerica final expense life insurance plans.
Transamerica Final Expense Overview
| Immediate Solution | Easy Solution | |
|---|---|---|
| Policy Type: | Whole Life Insurance | Whole Life Insurance |
| Death Benefit: | Day one coverage | 2-year graded death benefit |
| Issue Ages: | 0-85 | 18-80 (50-75 NY Res) |
| Coverage Amounts: | $1,000 up to $50,000 | $1,000 up to $25,000 |
| Contract Length: | Lifetime coverage | Lifetime coverage |
| Rates: | Rates locked to age 121 | Rates locked to age 121 |
| Cash Growth: | Guaranteed cash growth | Guaranteed cash growth |
| Policy Riders: | *Accelerated Death Benefit with Nursing Home Benefit *Accidental Death Benefit Rider *Child Rider | None |
| Medical Exam: | No medical exam required | No medical exam required |
| State Availability: | Available in all states | Available in all states |
Death Benefit Payout
| Immediate Solution | Easy Solution | |
|---|---|---|
| Death Benefit: | Day one coverage | 2-year graded death benefit |
Transamerica Immediate Solution includes immediate life insurance protection from day one. That means as soon as your policy goes into effect, your beneficiaries are entitled to the full benefit at the time of your passing.
Transamerica Easy Solution comes with a two-year graded death benefit. If an insured were to pass away anytime within the first two policy years, the death benefit equals 100% of any premiums paid plus 10% interest.
The only exception to the 2-year graded death benefit is if death directly resulted from accidental death. In that case, the full death benefit would be payable to the named beneficiaries.
After two years, the death benefit is based on the face amount of the policy. You obtain full coverage, regardless of the cause of death.
The graded death benefit requires you to wait two years for full coverage but offers more lenient eligibility requirements. Some medical conditions that disqualify you from getting immediate coverage may not stop you from getting an Easy Solution plan with a graded death benefit.
Age Availability
| Immediate Solution | Easy Solution | |
|---|---|---|
| Issue Ages: | 0-85 | 18-80 (50-75 NY Res) |
Transamerica Immediate Solution offers a low minimum issue age of just 15 days and a maximum issue age of 85 years. Although seniors primarily purchase these plans, they can also make for a good children’s life insurance policy.
Transamerica Easy Solution has a minimum issue age of 18 years and a maximum age of 80 years. New York residents can only apply between the ages of 50 and 75.
Coverage Amounts
| Immediate Solution | Easy Solution | |
|---|---|---|
| Coverage Amounts: | $1,000 up to $50,000 | $1,000 up to $25,000 |
Transamerica Immediate Solution has a minimum coverage amount starting at $1,000. The maximum death benefit is $50,000 for those up to the age of 55. The maximum amount of coverage that can be applied for decreases with age at the time of the application:
- $50,000 – 0 to 55 years old
- $40,000 – 56 to 65
- $30,000 – 66 to 75
- $25,000 – 76 to 85
Transamerica Easy Solution has a minimum death benefit of $1,000 and a maximum death benefit of $25,000 for applicants of any age.
Contract Length
| Immediate Solution | Easy Solution | |
|---|---|---|
| Contract Length: | Lifetime coverage | Lifetime coverage |
The Immediate Solution and the Easy Solution both include permanent lifetime coverage. In addition, the plans include a guaranteed level premium to the age of 121.
At age 121, your life insurance policy matures, and you will no longer need to pay premium payments.
Rates
| Immediate Solution | Easy Solution | |
|---|---|---|
| Rates: | Rates locked to age 121 | Rates locked to age 121 |
Rates for both Transamerica final expense plans are guaranteed to remain a fixed price for the entire contract duration, which is to the age of 121. Therefore, your rates will never change once your policy is active.
Cash Growth
| Immediate Solution | Easy Solution | |
|---|---|---|
| Cash Growth: | Guaranteed cash growth | Guaranteed cash growth |
The Immediate Solution and Easy Solution both include guaranteed cash value growth. A predetermined amount from each premium payment is placed into the cash value account.
The cash value should equal the death benefit when the policyholder reaches the age of 121. At that point, you no longer make payments.
You do not need to wait until you reach 121 to access the cash. You can borrow money but need to repay it with interest. However, there loan rate cannot exceed 8%, which is much lower than the average interest rate for a personal loan from a bank.
Policy Riders
| Immediate Solution | Easy Solution | |
|---|---|---|
| Policy Riders: | *Accelerated Death Benefit with Nursing Home Benefit *Accidental Death Benefit Rider *Child Rider | None |
The Immediate Solution has several policy riders, including an Accelerated Death Benefit Rider and two optional riders.
Accelerated Death Benefit with Nursing Home Benefit
The Accelerated Death Benefit Rider with Nursing Home Benefit (NHB) is included with the policy, except for in California and Florida. The Accelerated Death Benefit pays an accelerated benefit if you become confined to a nursing home.
A standard Accelerated Death Benefit Rider (ADBR) without the nursing home requirement is available for Florida residents. California residents receive a Terminal Illness Accelerated Death Benefit Rider (TIR). These riders pay an accelerated death benefit if the policyholder receives a diagnosis of a terminal illness.
Accidental Death Benefit
The optional Accidental Death Benefit Rider (ADBR) is available with the Immediate Solution. The ADBR option pays an additional death benefit on top of your main benefit if your death is due to an accident. As this policy rider is optional, including it in your policy increases your premiums.
Children’s and Grandchildren’s Benefit Rider
The children’s and Grandchildren’s Benefit Rider (CGR) allows you to add coverage for up to nine children or grandchildren. Each child can have up to $5,000 in coverage. The minimum amount per child is $1,000.
The rider expires when the child turns 25. However, they also receive the option to convert their policies to permanent policies. Children and grandchildren can convert their policies two years after the rider goes into effect.
*The Easy Solution plan does not include or offer any policy riders.
Medical Exam Requirements
| Immediate Solution | Easy Solution | |
|---|---|---|
| Medical Exam: | No medical exam required | No medical exam required |
You do not need a medical exam to apply for Transamerica’s Immediate or Easy Solution final expense life insurance plans. However, you must answer a series of health questions to determine your eligibility.
Transamerica utilizes its underwriting program called Express Protect Underwriting, which verifies and reviews your medical history using third-party data leading to the potential for same-day approval. For example, underwriters access data from the Medical Information Bureau (MIB) and other third-party sources to analyze your health.
State Availability
| Immediate Solution | Easy Solution | |
|---|---|---|
| State Availability: | Available in all states | Available in all states |
Transamerica’s final expense insurance plans are available in all states.
2023 Transamerica Final Expense Life Insurance Rates
Below is a Transamerica final expense rate chart that can better explain the potential rates for the whole life insurance coverage. The rates are based on the monthly costs for various coverage amounts and different age/gender groups.
As with any life insurance product, age, gender, and tobacco use are some of the main factors that impact your rates. In addition to those factors, the Immediate Solution plan utilizes a set of two rate classifications that are as follows:
- Preferred Immediate Solution
- Standard Immediate Solution
Qualification for one of the two potential rate classifications will be based on the answers to the health questions listed within the application and the final underwriting results.
The Easy Solution plan does not utilize rate classifications. All eligible applicants that qualify for the life insurance coverage will receive a “graded benefit” policy.
You can obtain an instant quote after answering a few basic questions. Working with an agent allows you to receive accurate rates based on your answers to several health questions.
Transamerica Final Expense Life Insurance Rate Chart - Preferred
| Issue Age | Gender | $5,000 | $10,000 | $15,000 | $25,000 |
|---|---|---|---|---|---|
| Age 50 | Male | $17.08 / monthly | $30.55 / monthly | $44.01 / monthly | $70.95 / monthly |
| Age 50 | Female | $13.92 / monthly | $24.23 / monthly | $34.55 / monthly | $55.17 / monthly |
| Age 55 | Male | $19.69 / monthly | $35.76 / monthly | $51.83 / monthly | $83.98 / monthly |
| Age 55 | Female | $15.60 / monthly | $27.60 / monthly | $39.59 / monthly | $63.58 / monthly |
| Age 60 | Male | $23.55 / monthly | $43.49 / monthly | $63.43 / monthly | $103.31 / monthly |
| Age 60 | Female | $18.16 / monthly | $32.71 / monthly | $47.25 / monthly | $76.35 / monthly |
| Age 65 | Male | $28.79 / monthly | $53.97 / monthly | $79.15 / monthly | $129.52 / monthly |
| Age 65 | Female | $22.19 / monthly | $40.77 / monthly | $59.35 / monthly | $96.51 / monthly |
| Age 70 | Male | $36.70 / monthly | $69.78 / monthly | $102.86 / monthly | $169.03 / monthly |
| Age 70 | Female | $28.25 / monthly | $52.88 / monthly | $77.52 / monthly | $126.79 / monthly |
| Age 75 | Male | $50.46 / monthly | $97.30 / monthly | $144.14 / monthly | $237.83 / monthly |
| Age 75 | Female | $37.28 / monthly | $70.94 / monthly | $104.61 / monthly | $171.94 / monthly |
Monthly male/female non-tobacco premium rates are current as of 2/10/2023, representing the cost of a $5,000 / $10,000 / $15,000 / $25,000 Transamerica Preferred Immediate Solution Final Expense Whole Life Insurance policy. Rates are guaranteed to remain the same for life.
Transamerica Final Expense Life Insurance Rate Chart - Standard
| Issue Age | Gender | $5,000 | $10,000 | $15,000 | $25,000 |
|---|---|---|---|---|---|
| Age 50 | Male | $19.13 / monthly | $34.66 / monthly | $50.18 / monthly | $81.23 / monthly |
| Age 50 | Female | $15.64 / monthly | $27.67 / monthly | $39.71 / monthly | $63.77 / monthly |
| Age 55 | Male | $22.99 / monthly | $42.37 / monthly | $61.75 / monthly | $100.51 / monthly |
| Age 55 | Female | $18.87 / monthly | $34.12 / monthly | $49.38 / monthly | $79.89 / monthly |
| Age 60 | Male | $27.36 / monthly | $51.11 / monthly | $74.86 / monthly | $122.36 / monthly |
| Age 60 | Female | $21.52 / monthly | $39.42 / monthly | $57.33 / monthly | $93.14 / monthly |
| Age 65 | Male | $35.02 / monthly | $66.43 / monthly | $97.83 / monthly | $160.65 / monthly |
| Age 65 | Female | $26.48 / monthly | $49.35 / monthly | $72.21 / monthly | $117.95 / monthly |
| Age 70 | Male | $52.76 / monthly | $101.90 / monthly | $151.05 / monthly | $249.34 / monthly |
| Age 70 | Female | $36.64 / monthly | $69.68 / monthly | $102.71 / monthly | $168.77 / monthly |
| Age 75 | Male | $69.31 / monthly | $135.00 / monthly | $201.69 / monthly | $332.09 / monthly |
| Age 75 | Female | $48.68 / monthly | $93.74 / monthly | $138.80 / monthly | $228.93 / monthly |
Monthly male/female non-tobacco premium rates are current as of 2/10/2023, representing the cost of a $5,000 / $10,000 / $15,000 / $25,000 Transamerica Standard Immediate Solution Final Expense Whole Life Insurance policy. Rates are guaranteed to remain the same for life.
Transamerica Final Expense Life Insurance Rate Chart - Graded
| Issue Age | Gender | $5,000 | $10,000 | $15,000 | $25,000 |
|---|---|---|---|---|---|
| Age 50 | Male | $39.70 / monthly | $75.79 / monthly | $111.88 / monthly | $184.06 / monthly |
| Age 50 | Female | $33.18 / monthly | $62.75 / monthly | $92.31 / monthly | $151.45 / monthly |
| Age 55 | Male | $47.52 / monthly | $91.43 / monthly | $135.33 / monthly | $223.15 / monthly |
| Age 55 | Female | $38.12 / monthly | $72.63 / monthly | $107.13 / monthly | $176.15 / monthly |
| Age 60 | Male | $55.25 / monthly | $106.90 / monthly | $158.54 / monthly | $261.83 / monthly |
| Age 60 | Female | $43.37 / monthly | $83.12 / monthly | $122.87 / monthly | $202.38 / monthly |
| Age 65 | Male | $70.03 / monthly | $136.46 / monthly | $202.88 / monthly | $335.72 / monthly |
| Age 65 | Female | $52.70 / monthly | $101.79 / monthly | $150.88 / monthly | $249.06 / monthly |
| Age 70 | Male | $90.35 / monthly | $177.08 / monthly | $263.82 / monthly | $437.29 / monthly |
| Age 70 | Female | $64.58 / monthly | $125.55 / monthly | $186.52 / monthly | $308.46 / monthly |
| Age 75 | Male | $117.64 / monthly | $231.67 / monthly | $345.69 / monthly | $573.75 / monthly |
| Age 75 | Female | $79.74 / monthly | $155.88 / monthly | $232.01 / monthly | $384.27 / monthly |
Monthly male/female non-tobacco premium rates are current as of 2/10/2023, representing the cost of a $5,000 / $10,000 / $15,000 / $25,000 Transamerica Easy Solution Final Expense Whole Life Insurance policy with a 2-year graded death benefit. Rates are guaranteed to remain the same for life.
Transamerica Final Expense Application Process
The application process is completed online, over the phone, or in person with an insurance agent. Both methods involve using an electronic app to submit your information and review your application without requiring a medical exam.
You will need to answer various questions, including several health-related questions. In addition, specific health issues may disqualify you from obtaining coverage or limit your coverage options.
A licensed life insurance agent can provide an instant quote after you submit the initial questions. In addition, Transamerica’s electronic application process includes the potential for same-day decisions.
Transamerica uses an Express Protect Underwriting method to review applications to provide an accelerated underwriting process leading to faster approvals. Along with the information you provide, underwriters pull data from various third-party sources, including your state’s department of motor vehicles (DMV), a look into any prescribed medications, and the medical information bureau (MIB) database.
You can apply in less than 30 minutes and receive a decision quickly, many times instantly. After the underwriters review your application, you will receive notification of your status.
NOTE: If you prefer to apply by a paper application, that option is available. Often, paper applications are not promoted because it generally results in lengthier underwriting time. In contrast, electronic submission can be made in less than 30 minutes a quickly assigned to an underwriter for consideration.
Transamerica Final Expense Frequently Asked Questions
Use the following answers to the most frequently asked questions about Transamerica final expense life insurance to learn more about the coverage.
What Type of Life Insurance is Transamerica Final Expense?
Transamerica’s final expense life insurance plans are whole life insurance coverage. Final expense life insurance is commonly known as non-participating whole life insurance as they are not eligible to receive dividends.
However, they do accumulate scheduled guaranteed cash growth and have both a fixed premium and death benefit that stays the same for the entire length of the life insurance contract.
What is Transamerica Burial Insurance?
Final expense life insurance and burial insurance are terms that are used interchangeably. Therefore the life insurance coverage sold
When purchasing a final expense life insurance policy, you often want to cover burial and other minor end-of-life expenses. Conversely, those looking to buy burial insurance are generally looking only to purchase enough coverage to cover burial costs.
However, final expense and burial insurance are non-participating whole life insurance plans, often designed for seniors that provide smaller amounts of coverage with simplified non-medical underwriting.
What Determines Eligibility for Coverage?
Your eligibility is based on several different details, including:
- Your age
- Criminal history
- Medical history
Your age is the first consideration for determining eligibility. You need to be 85 years old or younger for the Immediate Solution and between the ages of 18 and 80 for the Easy Solution.
Criminal convictions may disqualify you from getting coverage. For example, Transamerica declines applications from individuals awaiting trial for a felony and felons convicted within the past two years. Reckless driving charges and DUIs within the past two years may also disqualify you from applying for a whole life insurance plan from Transamerica.
A large portion of the application process is reserved for medical questions. Here are some of the medical conditions and situations that may disqualify you from obtaining coverage from Transamerica:
- AIDS/HIV
- ALS (Lou Gehrig’s Disease)
- Alzheimer’s/Dementia
- Amputation
- Bone Marrow Transplant
- Cancer
- Cerebral Palsy
- Cognitive Disorders
- Congestive Heart Failure (Before Age 45)
- Down’s Syndrome
- Hospice
- Mental Incapacity
- Pulmonary Fibrosis
- Sickle Cell Anemia
You need to answer a series of medical questions during the application process. The first set of questions determines if you suffer from any disqualifying medical conditions. The second set of questions determines whether you qualify for the Immediate or Easy solution.
For example, applicants who had cardiac surgery or bypass surgery before the age of 45 can only obtain the Easy solution with the graded death benefit.
How Quickly is Approval for Coverage?
You may receive approval the same day that you apply. The application is submitted and reviewed electronically. The Express Protect Underwriting process allows for underwriting data to be pulled in real-time, leading to faster decisions. If you do not receive a notification the same day, you will likely hear back from the insurance agent the following business day.
Is Transamerica Final Expense Whole Life Insurance Affordable?
Transamerica’s final expense solutions are priced competitively when looking at final expense options from other insurance companies. The cost often depends on the type of plan. The graded death benefit option will include higher premiums compared to the “Immediate” plan with full coverage.
Your rate is also determined based on your risk class—preferred or standard. Each risk class also has subclasses for tobacco and non-tobacco applicants. For example, preferred non-tobacco applicants receive the lowest premiums.
How Long Does Coverage Last?
Transamerica final expense life insurance coverage is designed to last for life as long as you continue paying the premiums when due. Your premiums and death benefit are also guaranteed up to the age of 121, which is the maturity age of the contract.
Are There Any Limited Pay Options?
Transamerica offers a “10-Pay Solution”, a limited pay life insurance plan. This option allows policyholders to prepay for coverage during the first 10 years instead of across their lifetime.
With Transamerica’s other whole life insurance options, your premiums are paid until the policy matures, which occurs at the age of 121. With the 10-Pay option, you agree to pay the premiums for 10 years.
Your policy still accumulates cash value and includes a death benefit in the amount of your choosing. The minimum and maximum death benefit amounts are the same as the amounts for the “Immediate Solution.” For example, depending on your age, you can choose $1,000 to $50,000 in coverage.
The 10-Pay option also includes access to an accelerated death benefit rider with a nursing home benefit but does not include access to a children’s benefit rider.
What Happens After You Are Approved for Coverage?
After you are approved for coverage, Transamerica sends you a copy of your policy. The policy immediately goes into effect after your first premium payment is processed. You can provide your payment details during the application process, allowing you to receive coverage immediately upon approval.
Payment options include direct billing, where a bill will be sent to your home monthly, quarterly or annual. You may also choose to have your premiums auto-drafted from your bank account.
Transamerica is also one of the few companies allowing Social Security Direct Express payment processing. With this feature, seniors receiving federal benefits such as Social Security can use their Direct Express Debit MasterCard to pay for their life insurance coverage.
What is the Cancellation Policy with Transamerica?
You can cancel your policy at any time. However, if you want a refund of any premiums paid, you need to cancel within 30 days of the start of your policy.
As with most insurance companies, Transamerica offers a 30-day free look period. After 30 days, you do not receive a refund.
You can cancel your Transamerica insurance by calling the company’s customer service department. You must provide the agent with your policy number and details and request the cancellation of your policy.
Is Transamerica Life Insurance Company Customer Service Good?
Transamerica has good customer service scores. You can contact customer service online using a contact form on the company’s website or by calling 1-800-797-2643. The customer service department is available Monday through Friday between 9 am and 6 pm ET.
Advantages of Transamerica Final Expense Life Insurance
Transamerica final expense solutions come with several advantages:
- High maximum issue amount
- Low minimum issue age
- Variety of optional features and benefits
- Issued by a company with strong financial scores
Transamerica offers a maximum death benefit of $50,000 for those 55 years of age and younger applying for the “Immediate Solution”. The maximum death benefit for the Easy option is $25,000. Both plans include access to more coverage than you can typically get with final expense insurance.
Transamerica also stands out for offering final expense insurance to younger applicants. Many other insurance companies require you to be in your 40s to apply for final expense insurance.
The minimum issue age for the “Immediate Solution” is 15 days. The minimum issue age for the “Easy Solution” is 18 years. Therefore, applying at a younger age should result in lower premiums.
Transamerica final expense options also come with various features, riders, and benefits to suit your specific needs. For example, the “Immediate Solution” plans include access to an accelerated death benefit rider, a terminal illness rider, a nursing home benefit, and an accidental death benefit rider. You can also add benefits for up to nine children or grandchildren.
Transamerica is also a trusted company with strong financial ratings. The high ratings should give you peace of mind knowing that your loved ones and their financial security are in good hands.
Disadvantages of Transamerica Final Expense Life Insurance
Transamerica’s final expense life insurance plans have no significant disadvantages that should discourage anyone from choosing one of their plans. However, if we were to nitpick the potential drawbacks, we would have to say that their graded benefit plan is much more expensive than other competitors.
On the other hand, if you qualify for their preferred or standard plans, the rates for coverage are some of the lowest prices for final expense coverage.
How to Get a Transamerica Final Expense Life Insurance Quote
If you would like an official quote for Transamerica’s final expense whole life insurance, we can help. Our company is licensed to offer all Transamerica final expense life insurance plans. Rates can be viewed instantly through our online quote tool and we can also assist with the electronic online application process.
Conclusion – Is Transamerica Final Expense Whole Life Insurance Worth It?
Transamerica final expense options are worth it for those that want affordable final expense insurance without a medical exam. If you are in good health, you can likely get a good price on whole life insurance with guaranteed cash value growth.
Transamerica may also appeal to younger adults that want to lock in a lower price now. The typical minimum issue age for final expense insurance is 40 to 45 years old. Transamerica’s “Immediate Solution” plan has a minimum issue age of just 15 days.
Seniors can also obtain coverage at reasonable rates, even with preexisting health conditions. The “Easy Solution” has lenient eligibility requirements and accepts more medical conditions. You can still apply with cirrhosis and recent surgery or medical procedures, such as bypass surgery or dialysis.
The bottom line is that Transamerica offers two separate final expense insurance options that should appeal to applicants of all ages. However, you should still explore alternatives and compare prices before selecting a policy. Get your Transamerica quote today to start searching for the best insurance policy for you.
