May 23, 2023
This month Forbes Advisor selected Transamerica as a standout in the life insurance industry for best life insurance for seniors, best for buyers in their 50s, best for reliable policy illustrations, and best no-exam life insurance. Forbes Advisor compiles insurance industry data from their own research and other sources to help consumers evaluate their choices while weighing financial goals and budgets.
For buyers in their 50s, Forbes Advisor noted that Transamerica’s Trendsetter® Superpolicy should be considered for “its top-notch policy features that are available for older ages and excellent rates.”
Seniors have many factors to consider when purchasing life insurance. Forbes Advisor observed that Transamerica policies offer competitive rates among the companies analyzed. The company also allows customers to renew Transamerica’s Trendsetter Super term life policy until age 100 (if their level term period has ended). It also gives policyholders the option to convert the Trendsetter Super term life policy to permanent life insurance up to age 75.
Forbes Advisor noted the Trendsetter Super no-exam life insurance policy offers shoppers low rates, high coverage amounts, and a good choice of term lengths to meet a variety of life insurance needs. Among the companies analyzed by Forbes Advisor, Transamerica had the highest maximum age for renewal (105) as well as a large selection of term lengths offered.
Transamerica was also distinguished as a standout for reliable cash value policy illustrations. The company’s reliable policy illustrations for cash value policies help policyholders set expectations about potential cash value gains.
These notable benefits and features led to Forbes Advisor selecting Transamerica as among the best life insurance companies for customers to consider when evaluating insurance options.
Trendsetter® Super are term life insurance policies issued by Transamerica Life Insurance Company, Cedar Rapids IA. Policy Forms ICC17 TL24.
Premiums increase beginning in year 11 for the 10- year policy, in year 16 for the 15-year policy, in year 21 for the 20-year policy, in year 26 for the 25-year policy, and in year 31 for the 30-year policy.
Policy forms and numbers may vary, and these policies and riders may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid.
Not available in New York.
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