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Transamerica Long-Term Care Insurance

4.5 Stars (55 Reviews)
Updated: January 20, 2023
By: Jonathan Trout
Jonathan Trout
Content Manager
Jonathan is a former product and content manager for Retirement Living. His background spans sales/marketing, finance, and telecommunications. Jonathan’s expertise in consumer wellness and research-backed data stories helped educate seniors on financial planning, retirement, and community resources. Jonathan graduated from Oklahoma State University with a B.S. in Environmental Sociology.
Content Manager
Edited by: Lauren Hamer
Lauren Hamer
Editor
Lauren is the editor for Retirement Living focused on discussing current senior-related issues, including retirement planning, consumer protection, and health and wellness. With six years of finance and career journalism experience, Lauren has edited personal finance content for Credible, Angi, Slickdeals, Jobs for the Future, and more.
Editor

Since 1987, Transamerica Long-term Care has helped build more secure futures for more than 571,000 individuals paying in excess of $5.7 billion in claims as of December 2018.

Editorial Breakdown

Product Options 4.8 Stars
Availability 4.5 Stars
Policy Features 4.5 Stars
Customer Service 4 Stars

Overall Rating 4.3 Stars

Bottom Line

Transamerica offers multiple long-term care insurance policies to help you cover expenses like nursing home care, hospital bills, in-home care and more. It has paid nearly $2.5 billion in claims to date.

55 Transamerica Reviews

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1 Star

February 25 2020 11:31PM

Transamerica will do ANYTHING not to pay a claim. This is a full time job as a caregiver and continues to be a nightmare. This process started over 4 months ago. I have made over 30 phone calls. I have received so much bad information during this process. We were told my parent needed 3 out the 6 levels of care or have a diagnosis.

My mom has a diagnosis of Alzheimer's. This is a cognitive impairment. They decide if this meets their "Continuous Care" guidelines. Now they are saying she does not have the need for continuous care. The memory test really didn't matter because they look at other things too. DENIED..you need to APPEAL..

They will twist anything and everything. My parents bought this policy 26 years ago so they could continue to live life and know that they would be taken care of. Instead, their children are having to fight for what they rightfully deserve.

Go visit the policy holders in their homes and you will see the level of care they need. When they are cold because they don't know how to turn up the thermostat. When they can't remember how to dial a phone for help. When they are hungry because they forget to eat or remember how to use an appliance. This is what is means to need continuous care.

MARY K.
Melbourne, FL
1 Star

February 11 2020 7:03PM

Well to start, I believe that this company is horrible. Each time we call we get a different representative. Each has a different explanation for why we are not receiving any payments. When the assisted living sends a billing statement we should receive a notification from Transamerica.

We have received this notice only twice. The billing statement does not state which month the bill covers. When questioning the representative for which month it is covering they have no idea. I understand that they don’t pay in advance. Because if we die, then Transamerica would want to be refunded. Go figure!!!!

Now that we understand how frustrating this company is we are told that our payments are under evaluation. Our premium waiver is under consideration. Why????? It is stated in the policy. If you are in an assisted living apartment for over 60 days the premiums are waived. Again total frustration.

We have spoken to a manager who informed us that payment was coming our way and still nothing. We were informed that since leaving the assisted living apartment to go to skilled nursing in the same facility we now needed to start a new claim. Two consecutive months speaking to a manager and other representatives no one said anything about starting a new claim until we asked about the payments due. What is the problem?

Un S.
Stl, MO
1 Star

January 09 2020 10:48PM

Have spent hours and hours on the phone and been given wrong fax number for nursing company to send claims, now they are asking for forms that licensed and insured companies do not need in the state of Florida unless they are medicare companies. Even had our credit card company tried to figure this mess out. I see by reading other comments that they are not credible. I feel that we have been treated in an unprofessional manner. HELP!!!

Bonnie G.
Delray Beach, FL
1 Star

January 08 2020 10:45PM

Transamerica is a company that just can't get their collective acts together! I have a LT Care policy which I originally signed up for through my employer back in 2016. Premiums were deducted out of my paychecks and reflected in my pay stubs.

Upon retirement in November 2017, I was to receive a bill directly from Transamerica for premiums; I chose to be billed annually. Not a problem at first; I received my premium bill for fiscal 2018 in late December 2017 and I paid. That was the LAST TIME I RECEIVED A BILL! I was expecting a bill in December 2018 to pay for fiscal 2019 -- never received.

I called Transamerica that I did not receive a bill for 2019 and was told by a customer rep that they were changing accounting systems and that I would receive a bill sometime in mid-2019, but that my policy was still in effect. No 2019 bill ever came. Now with 2020 coming near, I called Trasamerica again in December 2019 to inquire about receiving a bill for fiscal 2020, as well as for fiscal 2019 which I have yet to receive. This customer rep told me that she would forward my inquiry to Accounting; that was the last I heard of anything!

As of January 8, 2020, I have received or heard nothing! I was willing and ready to pay for both 2020 and 2019, just send me the bill. Oddly, in both 2018 and 2019, Transamerica did send me notices that my premium would be increased (I have a 3% inflation rider)...but no bill! I realize now after reading these less than stellar reviews that I dodged a bullet from Transamerica.

If they can't get it together to send me a bill so they can get paid and profit from my business, then I can only guess how much worse it will be if I ever had to file a claim and hope to be reimbursed! LT Care insurance is very important and should be a part of everyone's financial plan; just not with Transamerica. I will be looking elsewhere. Thank you.

Kendall S.
SOMERSET, NJ
1 Star

January 08 2020 12:23AM

My mother in law has this insurance for nursing home. They dont pay! We fight with them every month. Now they owe her for 2 months and she has premium waver, well that's a joke, they owe her for 2 payments they took out of her account. We have called the insurance commissioner of North Dakota to help us but they get a run around like we do. Going to call the attorney general to see if he can help. DON'T BUY FROM THIS COMPANY. Horrible company.

Barb O.
Beach, ND
1 Star

December 20 2019 4:50PM

Just started our first claim and experience has been awful. Finally eligibility was approved for the flat monthly benefit due to her condition. But now we need to send in a form every month, which just states she wants the benefit paid for the month. This type of benefit does not require receipts so why do we need to send in a form just confirming the benefit is still wanted? It's like they are looking for reasons to avoid or delay payment knowing the elderly cannot keep up with all their processes.

I asked, as her POA, to set up the benefit as recurring payments and we'll inform them when it should stop but the agent got rude and said this is reimb plan and the form is needed (even though we are not required to submit receipts) and if I have a problem with that, I should take it up with Consumer Affairs. Wow. AND, they still haven't paid the first pymt...said they needed a manager to correct the way the claim was incorrectly setup on their end. I was going to purchase a plan for myself until I realized that if I didn't have my own POA to fight these battles when I aged into benefits, I would never be able to get them.

June B.
Huntley, IL
1 Star

November 15 2019 1:16AM

This is about my mother-in-law. We waited the 90 days, got approved for service, waited a month or better for reimbursement, and then the premium went up 80%. Then after a few months of this they come back and say that she does not qualify anymore. Her condition has not changed from when this all started. She is only getting service 2 days a week for 2-3hours a day. My wife has called and waited an hour or better.

The last time she called the estimated wait time was 1hour and 45 minutes. Very poor customer service, very poor coverage, and not wanting to pay any claims. When we started having trouble with this my wife and I pulled everything we had with Transamerica. My mother in law has paid for years on this policy. She is now 91 years old and was finally getting some claims paid then they determined that she didn't meet their requirements for reimbursement so now they stopped paying our claims. She will never get even a small fraction of the money back that she has paid in premiums all these years. I only gave them one star since I don't have the option of giving them zero stars. This is a TERRIBLE company.

Kelly P.
Seward, NE
3 Stars

October 20 2019 6:49PM

Wow~ lots of negative comments... My husband and I have had this coverage for almost 20 years. I'm concerned that we will have these same problems when the time comes to use the benefits. We are not eligible health-wise to make a change....yikes..

Kathy C.
Medford, OR
1 Star

September 27 2019 6:31PM

Consistent with all the other bad reviews. No direct phone numbers or email addresses for the claims department, average hole wait is well over 45 minutes. Once, it was 1 hour and 16 minutes. No return calls for two or more weeks at a time. No claim numbers or paperwork issued. Wow.

Thomas S.
Gilbert, AZ
1 Star

September 23 2019 10:15PM

The worst company ever.... DO NOT BUY TRANSAMERICA LONG TERM CARE INSURANCE!!! After months of frustration, my mother was approved, then waited the 90 day "elimination period", received 4 checks which took 45 days to process.... It's Sept. 23 and waiting on July payment? Customer service is almost nonexistent, literally takes HOURS to speak to a representative! They are definitely waiting for my mother to die! What a rip-off company!

Kim M.
Westminster, CA