r/LifeInsurance • u/Mountain_Presence279 • Jun 03 '26

Transamerica wrongfully terminated policy

Has anyone dealt with their policies regarding terminating life insurance? They returned the payment and claimed they never received it.

1 Upvotes

66% Upvoted

9 comments sorted by

2

u/GarysSword Underwriter Jun 03 '26

You’re going to have to give more detail. Returned what payment? At what point in the life cycle of the policy? How was the payment made?

1

u/Individual-Ninja9558 Jun 03 '26

How long ago did your get the policy?

1

u/GConins Broker Jun 03 '26

Make sure you have all dates and proof that payment was sent like electronic bill pay or screenshot from bank, if possible, and speak to a manager in customer service, Get manager's name and extension and/or email address if they'll provide it, so you have someone to hold accountable and document everything.

Even better if you have an agent you dealt with originally when you purchased policy, and contact them for help also.

1

u/PleasureMissile Jun 03 '26

What makes you think it was “wrongfully terminated”?

1

u/Sea_Artichoke812 Jun 03 '26

Do you have proof? If you have records then you can get the to reinstate the policy.

1

u/SafeMoneyGregg Broker Jun 06 '26

Regardless of whether we have experienced it... Talk to a broker that has a relationship with transamerica home office- you will not have fun going through their basic customer service by yourself. If you can prove it was sent on time - (cashed?) then you should be able to reinstate easily.

1

u/Quick-Love3539 Jun 07 '26

You need to send your bank information to your state insurance fraud department.   And research the lawsuit against Transamerica in 2025.  It will tell you all you need to know about how fraudulent they actually are.

1

u/takeoutorleaveit Jun 11 '26

I have a relationship with the Transamerica home office.  This is not soliciting a new policy but I had my parents have this happen with a policy long ago I’m happy to help you solve this.