State Farm vs Transamerica Life Insurance

  • YEAR FOUNDED
    1928
  • CURRENT CEO
    Mark W. Mullin
  • AVAILABLE
    All 50 States
  • ADDRESS
    Cedar Rapids, Iowa
  • TOP AWARDS

    Diversity Best Practices Inclusion Index

    2018 Thomson Reuters Lipper Fund Award

  • PROS
    • Financially secure
    • Competitive life insurance products
    • Variety of products available
  • CONS
    • Some insureds have complained of having to deal with third-party representatives instead of direct sales agents.
    • No BBB accreditation
  • YEAR FOUNDED
    1922
  • CURRENT CEO
    Michael L. Tipsord
  • AVAILABLE
    48 States
  • ADDRESS
    East P.O. Box 588002 North Metro, GA 30029
  • TOP AWARDS

    N/A

  • PROS
    • Great Term Life Insurance
    • Top rated customer service
  • CONS
    • Term lengths
    • Higher premiums than other companies
SOURCETransamericaState Farm
JD Power2/55/5
BBBN/AA-
AM BestAA++
Moody'sA1Aa1
FitchA+N/A
Standard & PoorAA-AA
Comdex ScoreN/A98
SOURCETransamericaState Farm
Total Assets$8.63 billion$160.732 billion
Life Insurance in Force$1,018 billion$901.7 billion
TransamericaState Farm
Whole life insuranceSelect Term 10, 20, 30
Term life insuranceReturn of Premium 20, 30
Universal life insuranceMortgage Life 15, 30
Variable Universal life insuranceWhole Life
Limited Pay 10, 15, 20
Single Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
TransamericaState Farm
Trendsetter SuperSelect Term 10, 20, 30
Trendsetter ExpressReturn of Premium 20, 30
Trendsetter Living BenefitsMortgage Life 15, 30
Transamerica Universal LifeWhole Life
Transamerica Premier Financial Foundation IULLimited Pay 10, 15, 20
Guaranteed Whole LifeSingle Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
TransamericaState Farm
Children’s Insurance RiderN/A
Accident Indemnity Rider
Return of Premium Rider (For 20- & 30 Year Terms)
Waiver of Premium Rider
Guaranteed Insurability Benefit Rider
Jonathan Holloway
October 13, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
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