Compare Transamerica Long-Term Care Insurance

Most of the articles you read about long-term care insurance cover the highlights. Few peel back the covers primarily because, once you do, you quickly discover how complex a topic it is.

No two long term care insurance policies are exactly alike. From the outside, they may look identical -- but there are significant differences. These differences will matter when you are ready to use the benefits you expected to receive.

The typical long-term care insurance policy is between 40 and 50 pages of policy provisions, legal definitions, conditions and clauses. We can't attempt to cover all the details here ... and policies can vary by state. We are merely attempting to address some of the questions often asked by consumers considering long term care insurance protection.

After reading the information here, if you have questions or want to speak with a specialist, please call the Association offices at (818) 597-3227.

Or, you can click the REQUEST A QUOTE box. Complete the form. We will share your information with ONLY ONE specialist.

Transamerica Long Term Care Insurance Company - Some Key Facts

Transamerica began as a holding company controlled by A. P. Giannini, who, at the time, was the head of Bank of America and founder of its predecessor, the Bank of Italy in San Francisco. The company also acquired Occidental Life Insurance Company through Transamerica Corporation in 1930 and renamed it Transamerica Occidental Life Insurance Company in the early 1980s. Transamerica Corporation is an American private holding company for various life insurance companies and investment firms doing business primarily in the United States. The company was acquired by the Dutch company Aegon in 1999.

Transamerica is or has offered long term care insurance policies under two of it's companies. Combined it is one of the 10 largest providers of long-term care insurance policies in the U.S. According to the Association's 2014 LTC Sourcebook, Transamerica has some 255,000 (covered lives) policies in force which is about 3.5 percent of the market (NAIC, 2011 Covered lives).

In 2013 Transamerica sold approximately 10,000 long term care insurance policies (AALTCI estimates). In 2014, the company will sell about 6,000 new policies.

Transamerica Life Insurance Co. Ratings (Always subject to change)

A.M. Best Standard & Poor's Moody's
A+ AA- A1

Compare Costs Transamerica Long Term Care Insurance

The following are merely 'snapshots' of three common situations.

Single FEMALE, Age 57 - Initial benefit = $162,000, No Inflation Growth

Transamerica TransCare III (TN) Company B Company C
$1,507 $2,005 $1,461

Single MALE, Age 57 - Initial benefit = $162,000, No Inflation Growth

Transamerica TransCare III (TN) Company B Company C
$989 $1,457 $948

Married COUPLE, Ages 61/60 - Initial benefit = $162,000 (each), No Inflation

Transamerica TransCare III (TN) Company B Company C
$2,242 $2,836 $1,997

Transamerica DIFFERENCES - Transamerica policies may offer advantages in these situations.

Transamerica Advantages for buyers They include a zero (0) day Elimination Period for home health care (at no added cost).
Transamerica Advantages for buyers They have very liberal health underwriting for cancer. The specialists who help provide latest info, advise us that with nearly every type of cancer, you can be insurable within 6 months after you've completed your treatments.
Transamerica Advantages for buyers Although they have gender-based premiums (where women pay more than men) their costs can be less than others (not always so best to check).
Transamerica Advantages for buyers They have a unique 3% compound step-ratd inflation benefit. If you are considering inflation growth option, this is worth asking about,.

Transamerica DIFFERENCES - Transamerica policies may be disadvantages in these situations.

Transamerica disadvantages for buyers They are not very competitive (pricing) for most married couples interested in the Shared Care option.
Transamerica disadvantages for buyers Their California rates are very expensive.

HEALTH DIFFERENCES - Transamerica may offer these valuable advantages to those with health issues.

NOTE: Acceptable conditions do change. If you have any of these conditions, working with an experienced specialist who has a relationship with the insurance company health underwriter can be the difference between acceptance and rejection.

Transamerica advantages for buyers See the note above regarding cancers.
Transamerica advantages for buyers They do NOT require applicants to give blood or urine samples (something other insurers recently started doing).

You only purchase long term care insurance once. It rarely pays to switch policies. That's why it is so important to make the right decision -- to compare in order to get the best coverage for the best cost.

To speak with a knowledgeable long term care insurance specialist who can compare all the leading insurance companies, call the Association's offices at (818) 597-3227 (Monday to Friday, from 8 AM - 5 PM Pacific Time) or click on the box below and complete our no obligation Request A Quote form.

Your information goes to just ONE specialist. Click the START NOW button or CALL.

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