Estate planning and settlement at Transamerica
Name beneficiaries online, fund a trust by mail, and report a death at 1-800-523-7900
Transamerica is an insurance company with 13 products relevant to estate planning. Life insurance and annuity proceeds transfer directly to named beneficiaries outside of probate, making beneficiary designations one of the most important estate planning steps for Transamerica policyholders.
Beneficiary designations at Transamerica can be managed online and by mail. Trust funding is also available, allowing families to name a trust as the policy beneficiary or establish an irrevocable life insurance trust (ILIT).
Transamerica has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust by mail, and review 13 account types at Transamerica.
Preparing your estate →Death claim process
Report the death to Transamerica's Customer Service Center at 1-800-523-7900. The page lists the steps and the documents to send.
When someone dies →Frequently asked questions
Transamerica Life Insurance Company's Transfer of Ownership Request Form (OWN-CCC, https://ani.transamerica.com/ani/Uploads/Pages/21410/OWN-CCC%202%20Co%20Fillable.pdf) accepts a revocable or an irrevocable trust as the new Owner. The current and new owners both sign and date, and the trustee signature must include the trust date, for example "John Doe, trustee under XYZ Trust dated _-_-_". Enclose a Trust Certification Form and the first page and signature page of the trust. Faxed forms are accepted at (800) 235-4782. Any authorized third parties or third-party investment advisors tied to the former owner are removed when the policy transfers, and the form does not change the beneficiary.
The Beneficiary Change Form (BEN-CCC, https://ani.transamerica.com/ani/Uploads/Pages/44152/BEN-CCC%2002-2014%202%20Co%20FILLABLE.pdf) takes percentages, not dollar amounts, with primary beneficiaries totaling 100% and contingent beneficiaries independently totaling 100%. A trust is written with its full name and date ("John Doe Revocable Trust, dated 01/01/1999"). If the policy is trust-owned, the trustee signs with a trustee title and a Trustee Certification Form must be on file. Writing "Irrevocable" next to a beneficiary locks the designation: that person must sign every later change and may have to sign other policy changes and disbursements. Leaving the contingent section blank revokes the current contingent designations. A payment to a minor beneficiary goes to the legally appointed guardian of the estate or conservator unless the law permits otherwise. In Massachusetts the owner's signature must be witnessed.
Workplace retirement plans have their own line at 800-755-5801 (Monday-Friday, 8 a.m. - 8 p.m. ET) and IRAs at 866-300-0028 (Monday-Friday, 9 a.m. - 6 p.m. ET). Employer group coverage (group universal life, critical illness, disability, hospital indemnity, and supplemental medical expense insurance) goes to Employee Benefits at 888-763-7474 (Monday-Friday, 8 a.m. - 7 p.m. ET) or tebcustresp@transamerica.com. Individual life insurance (800-797-2643) and individual annuities (800-525-6205) are separate lines again.
Sources
- transamerica.com
- cdn.bfldr.com
- ani.transamerica.com
- insuranceservicenow.transamerica.com
- myta.transamerica.com
- aegon.com
Data sourced from Transamerica primary sources (34 pages reviewed). How we research.
Transamerica customer support
Life insurance policy questions
Phone
Toll-free
Life insurance policy questions (outside the U.S.)
Life insurance website technical support
Policy Services (MyTransamerica)
Retirement plans
IRAs
Mutual funds customer service
Employee benefits customer service
Fax
Hours
Mailing address
Website
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