FAQ
In this section you'll find the answers to some of the questions most frequently
asked about life insurance policies and annuity contracts distributed through Transamerica
Life Insurance Company. To view the questions and answers, please select
a topic below.
If after reviewing this information you still have questions, please
contact us
Policy Service and Claims FAQs
Contacting Transamerica
How do I contact Customer Service?
- BY E-MAIL:
You may contact us for any account related or technical
inquiries .
- BY PHONE:
800-852-4678, 8AM-5PM M-F, Central Time (U.S.)
(852) 2506 8208 (HongKong)
(65) 6212 0620 (Singapore)
Fax: (441) 278-8559 (Bermuda)
Please use the hotlines above or the local branch office number specified for your policy.
- BY REGULAR MAIL:
For individual life insurance:
Transamerica Life Insurance Company
4333 Edgewood Rd. NE
Cedar Rapids, IA 52499
For individual annuities:
Transamerica Life Insurance Company
4333 Edgewood Rd., NE
Cedar Rapids, IA 52499
For Group/Worksite policies and contracts:
Transamerica Employee Benefits
1400 Centerview Dr.
Little Rock, AR 72211
Phone: (800) 322-0426
Fax: (501) 227-1647
For New York policies and contracts:
Mailing Address:
4333 Edgewood Rd. NE
Cedar Rapids, IA 52499
Administrative Office:
Transamerica Financial Life Insurance Company
Administrative Office
4333 Edgewood Rd. NE
Cedar Rapids, IA 52499
For Hong Kong policies and contracts:
Transamerica Life (Bermuda) Ltd.
Hong Kong Branch Office
58/F One Island East
18 Westlands Road
Island East, Hong Kong
Tel: (852) 2506 8208
Fax: (852) 2506 1455
For Singapore policies and contracts:
Transamerica Life (Bermuda) Ltd.
Singapore Branch Office
1 Finlayson Green
#13-00
Singapore 049246
Tel: (65) 6212 0620
Fax: (65) 6212 0621
For Bermuda policies and contracts:
Transamerica Life (Bermuda) Ltd.
P.O. Box 2274
Hamilton HM JX
Bermuda
Fax: (441) 278-8559
Email: service@tlb.bm
For all other products, please refer to our Company Directory.
How do I contact Technical Support?
Our toll-free technical support hotline is 1-800-742-7005, or
contact us.
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RAP
What is a RAP?
The RAP (Required Annual Premium) is the minimum amount that must be paid each year
during the required premium period specified in a universal life insurance policy
to keep the policy in force. The RAP must be received by Transamerica by the policy
anniversary date each year. If it is not, the policy will enter its grace period.
With certain limitations, it is possible to pay future years' RAP in advance.
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Loans
How do loans work on my life insurance policy?
A policyholder may borrow any amount up to the policy's cash value less any outstanding
loans and any interest due on the loan. Loan interest is due annually, in advance,
at the time the loan is taken and on each policy anniversary. The loan interest
on any outstanding loan is billed on the policy anniversary. If the loan interest
due is not paid, subject to available policy values, an additional loan will be
created to pay the loan interest due and that amount will be added to the outstanding
loan balance.
A policy loan can be repaid at any time. However, if at any time the outstanding
loan amount exceeds the policy's cash value, the policy will lapse. If the policy
is in force and there is an outstanding loan balance at the time of the death of
the insured, the loan balance will be deducted from the policy's death benefit proceeds
paid to the beneficiary.
For an online loan request form, access the Service Forms section.
Please email the form to:
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Beneficiaries
What is a beneficiary?
The person(s) or organization(s) designated by the policyowner to receive the death
benefit upon the death of the insured, annuitant or annuity owner.
What is the difference between a primary and a contingent beneficiary?
|
Primary Beneficiary
The primary beneficiary generally has first rights to the death benefit. |
Contingent Beneficiary
The contingent beneficiary is entitled to (or) eligible to receive the death benefit
when the primary beneficiary predeceases the insured. |
What is the difference between a revocable and an irrevocable beneficiary?
Revocable Beneficiary
The policy owner CAN change the revocable beneficiary at any time prior to the death
of the insured. |
Irrevocable Beneficiary
The policy owner CANNOT change the irrevocable beneficiary without the written consent
of the current irrevocable beneficiary. |
Who may change a beneficiary?
Generally, only the policyowner may change a beneficiary.
How can I change the beneficiary listed on my policy?
The owner of the policy can change the policy's beneficiary at any time if the beneficiary
designation is revocable. If the policy's beneficiary designation is irrevocable,
the beneficiary must also approve any future beneficiary changes. For an online
form to change the beneficiary, access the Service Forms Section.
Please email the form to:
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Claims
Who can file a claim?
The beneficiary or the beneficiary’s guardian can file a claim.
How do I report a claim on an individual life insurance policy or annuity contract?
For U.S. policies or contracts:
- Always immediately report the death of an insured or annuity owner or annuitant
via the following toll-free numbers:
For life policies: (800) 852-4678
For annuities: (800) 821-9090
or by email to:
For life policies: TAAFPClaims@transamerica.com
For annuities: customercare@aegonusa.com
Include the name of the deceased, date of death, policy numbers and cause of death.
Obtain a fully completed
First Report of Claim Form from each beneficiary.
- Obtain one officially certified (not notarized or a photocopy) death certificate
for the insured, annuity owner or annuitant and any deceased primary beneficiary.
- Send any correspondence and Proofs of Death to:
For life policies:
Transamerica
4333 Edgewood Rd., NE
Cedar Rapids, IA 52499
For annuities:
Transamerica
4333 Edgewood Rd., NE
Cedar Rapids, IA 52499
Send to the attention of the assigned examiner, if already known.
- If all or part of the proceeds is assigned to a funeral home for funeral expenses,
you will also need the assignment from the funeral home signed by the beneficiaries
and an itemized statement of funeral expenses.
- If the beneficiary is a trust, you will need:
For Hong Kong policies or contracts:
Please contact the Hong Kong Branch Office at
Transamerica Life (Bermuda) Ltd.
Hong Kong Branch Office
58/F One Island East
18 Westlands Road
Island East, Hong Kong
Tel: (852) 2506 8208
Fax: (852) 2506 1455
For Singapore policies or contracts:
Please contact Singapore Branch Office at
Transamerica Life (Bermuda) Ltd.
Singapore Branch Office
1 Finlayson Green
#13-00
Singapore 049246
Tel: (65) 6212 0620
Fax: (65) 6212 0621
For Bermuda policies or contracts:
Please contact Bermuda Administrative Office at
Transamerica Life (Bermuda) Ltd.
P.O.Box 2274
Hamilton HM JX
Bermuda
Fax: (441) 278-8559
Email: service@tlb.bm
In order to file a claim, what kind of information should I provide?
To file a claim, you need to provide the name of the insured, policy number, date
of death or disability, date of birth, and the name, address and phone number of
the person reporting the claim. We also would like to know the cause of death/disability
and the insured's Social Security Number or Passport Number. If death is involved,
we need to know if all or part of the proceeds is being assigned to a funeral home
for funeral expenses.
How long does it take for Transamerica to settle a claim?
Once all claim requirements are met and the materials are received in the Claims
Department, you can generally expect it to take five to seven working days to complete
payment of the claim. If there will be a delay because a claim is contestable or
if it involves accident indemnity or complex issues, we will let your agent or legal
representative know the reason.
If the beneficiary is a minor, who should complete the claim form?
If the beneficiary is a minor, the court appointed guardian of the child's estate
must complete the First
Report of Claim Form.
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Policy/Contract Maintenance
How can I change the address of record on my policy or contract?
You may contact Customer Service, or submit a change of address request online from
within the Policies & Contracts section.
How can I get a duplicate copy or specimen of my policy or contract?
For U.S. policies or contracts :
If a policy is lost, a duplicate policy may be requested. A Policy Service Form must be completed and returned to Customer
Service with a check payment of $25.00. You must login to access this form.
For Hong Kong and Singapore policies or contracts:
Please contact your respective local branch office.
For Bermuda policies or contracts:
Please email your inquiry to service@tlb.bm
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Automatic Withdrawals
What are automatic withdrawals?
You may authorize Transamerica to take automatic withdrawals from your bank account
in order to pay premiums. In addition, the bank account information we have on record
may be changed at any time with your authorization.
This option is not available in Singapore or Bermuda policies or contracts.
How can I set up automatic withdrawals?
Complete the Automatic Withdrawal Form and submit the completed form to Customer Service. You must login to access this form.
For Hong Kong policies or contracts, please complete the direct debit authorization
form and submit the completed form to the Hong Kong Branch Office.
This option is not available in Singapore or Bermuda policies or contracts.
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