Transamerica life insurance has become one of the most popular of the companies offering life insurance throughout most of the United States. This article is here to help you get a better understanding of the company and its history.
Occidental Life Insurance Company started accepting customers in 1906 and quickly established itself as one of the major life insurance companies on the west coast. The company continued to grow until it was bought out in 1930 by Transamerica Corporation which was a subsidiary of what would become Bank of America. In 1956 congress passed legislation that companies could no longer own both banking and non-banking businesses (subsidiaries). After building the famous San Francisco landmark that is the Transamerica Pyramid building the company refocused in the 1980’s the company sold off non-insurance and financial services related business like Budget Rent A Car and Trans International Airlines. The final major change happened in 1999 when the company was purchased by AEGON N.V. one of the world’s leading international organizations. The company kept its name and has continued to offer top notch services since.
A.M. Best is the main independent ratings company for the financial health of all insurance companies. Transamerica received a rating of A+ for financial security which is the next to the highest of all the possible rankings (A++ being the highest). This puts them in the very top of all insurance companies. We set a guideline of only recommending life insurance companies with an A- so that tells you that Transamerica Life Insurance Company really is an amazingly stable company. We rate the companies we do business with on customer service. Our internal rating system gives them five out of five stars. This means they have been great to work with whenever a customer has had to make a claim and have fulfilled their obligation.
At Taik.org we are dedicated to helping you match up with the best life insurance company for your needs. Being an independent agent we are able to shop all the best life insurance companies that are available in your area (if you came here to do research you can see our recommendations of the best life insurance companies HERE). So whether Transamerica or some other company is the right company with the right insurance policy or some other company we will make sure you are getting a reliable company with the best rates.