Transamerica Life Insurance Co
Rip off after 11 years of payments

At 65 years old we were convinced that it would be a good idea to take out long term insurance and not be a burden to our 2 children later in life. We were advised that the payments would increase annually and the 2nd year they went up $28.55 per month and did increase every year.

Last year our payments totaled $5421.36 for the year. This year they went to $8,101.20 per year. We were stretched to make last years payments but with out fixed income we just can't do such a big increase. We had to either pay the increase or drop the policy and the insurance Co. Keep the entire $37,692.60 that we have paid in.

We feel that we were scammed. They took our money until it built up and then raised the payments way past what we could pay.

Company: Transamerica Life Insurance Co
Country: USA
State: Texas
City: Hurst
Address: P.O. box 95302
Phone: 18003380257

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