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Transamerica No Medical Exam Insurance

Shortcut: If you are just looking for quotes, please select Transamerica in the quote results from our form on the left or above (mobile). To learn more about our review of the Transamerica no exam life insurance product, please keep reading.


Quick Summary: Transamerica is a very strong company that is well known. Price is middle of the pack compared to other no exam options. Nice included benefits and will look favorably on certain medical conditions. Not a company we place a high number of our no exam clients with but is a good fit for some.


Do you prefer not to be bothered by the medical exam? See our guide that compares the top no exam companies for 2017. Transamerica might be the right one, but learn about the others to make sure. If you need help, that's what we are for. No pressure or charge to work with us.

About the Company

Transamerica insurance company logo

One of the more well known names in the insurance business, Transamerica is near the top of the industry year after year. Owned by parent company Aegon, Transamerica has been doing business for over 100 years.

With top ratings from all the major agencies, including an "A+" from A.M. Best, it doesn't get much stronger than Transamerica when it comes to independent ratings of financial strength.

​Aside from life insurance, Transamerica markets a wide range of financial products and has a large customer base. All these factors make them a company you can count on to continue being a leader for many more years to come.

About the Policy

Product Name

Trendsetter Living Benefits Term

Coverage

$25,000 to $249,999

Issue Age

18 to 60

Term Length

10, 15, 20, 25, 30 years

Underwriting Process

The underwriting process will check several information databases including:

  • Motor Vehicle Report 
  • Prescription Database
  • Medical Information Bureau

Think of the MIB as the place where insurance carriers share information on applicants for the good of the group. This reduces fraud and increases underwriting efficiencies, ultimately passing some savings on to the consumer.

For example: If a past application contained information about your high blood pressure readings, this will be seen in the MIB by the new insurer.

Medical Questionaire

Just like any insurance application, you'll be asked questions pertaining to your health, family medical history, tobacco, alcohol, and drug use and anything else that may influence the rate you are offered in exchange for an insurance policy.

Decision Time

Transamerica can be pretty fast, sometimes giving decisions in about a week but normally is a little long for a no exam policy. We have seen it take up to 30 days if they feel the need to request your medical records. Some of this added time will depend on your doctor's office and how quickly they comply.

Pros

Will be favorable towards some medical conditions that other companies will not

Has very good riders and policy options

Cons

Maximum death benefit of $249,999 is low for no medical policies

Only goes up to Standard health class, those in good health can find better

Extras and Options

The riders and options included in this policy are among the best available for no exam products. In your base policy you will get:

  • Chronic Illness Accelerated Death Benefits
  • Critical Illness Accelerated Death Benefits
  • Terminal Accelerated Death Benefits
  • Income Protection Option

After that, you may further customize the policy depending on your needs for an additional cost with:

  • Children's Insurance Rider
  • Waiver of Premium Rider
  • Accidental Indemnity
  • Monthly Disability Income

 At Transamerica, conversion of your no exam policy to permanent insurance is allowed up to the earlier of your 70th birthday or the initial level term period. The nice thing is that no new health checks are needed. You are guaranteed coverage regardless of what might have developed in your health picture.

Cost

The price for Transamerica's no exam product is not the cheapest around but is a good value considering what you get included. 

Sample No Exam Term Life Insurance Quotes-Transamerica

43-year-old male at Standard health class - pricing listed is per month

Death Benefit

10 Year

20 Year

30 Year

$50,000

$17

$22

$29

$150,000

$30

$44

$66

$250,000

$49

$72

$108

39-year-old female at Standard health class - pricing listed is per month

Death Benefit

10 Year

20 Year

30 Year

$50,000

$12

$16

$21

$150,000

$23

$31

$38

$250,000

$37

$50

$63

Use our quoting tool to see the rate you'll pay for an Transamerica policy without the exam 

How to Find the Right No Exam Policy

Many insurance shopping consumers look at Transamerica because of their of well known name and reputation. It is tough to go wrong with such a strong company.

but could you do better?

For insurance without the exam, you may be able to. It's important not to get too caught up in the big name because there are many other carriers and products of similar strength but at a lower cost. Consider not only price but how their underwriting will view your unique file. ​

The best way to do this is to work with an independent agency that is:

finding the best no exam insurance policy
  1. Unbiased and not obligated to any particular life insurance company.
  2. ​Has access to all the top no exam products as well as some niche products for certain people/situations.
  3. Is a specialist in the no exam area.

You're in luck:) We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.

Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to help you put protection in place for those you love.

About Ty Stewart

Ty Stewart is the founder of SimpleLifeInsure. He is an independent life insurance agent that works for his clients nationwide to secure affordable coverage while making the process simple. There is never any cost to use his services.

This entry was posted in No Medical Exam Life Insurance. Bookmark the permalink.

2 Comments

Joyce Csengeri

Please call me need some life insurance with no medical questions 419-467-2212

July 16, 2017 at 5:02 am
    Ty Stewart

    Hi Joyce, we will contact you tomorrow to help out and discuss options. Thanks.

    July 19, 2017 at 8:09 pm
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