$57M Transamerica Life Insurance rate increase class action settlement

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Max Payout

TBD

Filing Deadline

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Proof Required?

Transamerica Life Insurance has agreed to pay $57 million to settle a class action lawsuit alleging the company improperly raised the cost of insurance on certain life insurance policies without giving policyholders proper notice. If you held a Transamerica life insurance policy and experienced unexpected rate increases, you may be eligible for compensation from this settlement. The lawsuit claimed that Transamerica violated its contractual obligations and state insurance laws when it increased policy costs without adequate notification to policyholders.

Who Is Eligible?

You may be eligible to file a claim if you:

You held a Transamerica life insurance policy
You experienced cost of insurance rate increases on your policy
The rate increases occurred without what you believe was proper advance notice
Specific policy types and date ranges may apply (details pending)

How Much Can You Get?

The total settlement amount is $57 million, which will be distributed among eligible class members. The exact amount each policyholder receives will depend on factors such as the type of policy you held, how much your rates increased, and how many people file valid claims. Individual payouts have not been specified at this time.

How to File Your Claim

Filing your claim is quick and easy:

Gather your Transamerica life insurance policy documents
Collect records showing rate increases or cost changes
Review any notices you received about rate changes
Wait for the official claim form to become available
Download the Class Action Buddy app to get notified when the claim period opens and to help file your claim easily

💡 Easier way: File with Class Action Buddy

Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.

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Frequently Asked Questions

What is the Transamerica life insurance settlement about?

Transamerica agreed to pay $57 million to settle claims that it improperly raised the cost of insurance on certain life insurance policies without giving policyholders adequate advance notice as required.

How much money can I get from the Transamerica settlement?

Individual payout amounts haven't been determined yet. The $57 million total will be divided among eligible class members based on factors like policy type and the amount of rate increases experienced.

When is the deadline to file a Transamerica settlement claim?

The claim deadline has not been announced yet. The settlement may still be pending court approval. Class Action Buddy will notify you when the claim period opens.

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