Transamerica along with other insurers have upped costs on in-force policies as they've had to contend with persistently low interest rates
Transamerica Life Insurance Co. has been sued for raising the cost of insurance on some universal life insurance contracts, an action plaintiffs allege constitutes a breach of obligations under the policies and has led to damages against contract holders.
Transamerica Increasing Charges On Life Insurance Policies By 40%, Jeopardizing Coverage After Decades Of Payments, Lawsuit Says â€œBetrayal Of The Baby Boomersâ€
Santa Monica, CA -- Consumers who bought life insurance protection from Transamerica Insurance Company decades ago are now facing a choice between paying enormous increases in their monthly premiums or losing their policies, according to a lawsuit filed in federal court in Los Angeles by consumer advocates on behalf of Transamerica policyholders nationwide.
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