Transamerica Annuity Review 2026

An American icon, owned from Amsterdam

Transamerica has operated continuously since 1906, and the Transamerica name and its landmark San Francisco pyramid have been part of American culture since 1928. What a lot of buyers do not realize is that the company has been fully owned since 1999 by Aegon, a major Netherlands-based insurance and pension group now organized as Aegon Ltd. Day-to-day operations run out of Cedar Rapids, Iowa and Baltimore.

Foreign ownership does not change how your contract is regulated. The U.S. insuring company is reserved and supervised by state insurance departments the same as any domestic carrier, so your state guaranty association coverage works the same way it would for a U.S.-owned insurer. What actually differs, and what matters more day to day, is the rating itself: at A (Excellent), Transamerica sits a step below carriers holding A+ or A++.

Transamerica financial strength ratings

That A+ from S&P reflects, in part, the scale of parent company Aegon's global operations across the United States, the Netherlands and beyond. Still, if your personal cutoff is "A- or higher," Transamerica clears it comfortably; if your cutoff is "A+ or higher," you will want to look at carriers like Protective or Prudential instead. Ratings measure the insurer, not the specific contract, so confirm the current grade before you sign anything.

What annuities does Transamerica sell?

• Multi-year guaranteed annuities: fixed, guaranteed rates locked in across several term lengths, sold through independent agents and financial advisors.
• Fixed index annuities: index-linked crediting with a floor against loss, plus optional income riders for guaranteed lifetime withdrawals. The Transamerica Index Series includes an S&P 500 point-to-point option with a cap alongside a fixed-account choice; features vary by state.
• Single premium immediate annuities: convert a lump sum into income that can start within a year.
• Variable annuities: market-linked subaccounts for buyers who want growth potential inside a tax-deferred wrapper, plus a meaningful presence in employer retirement plan products.

Transamerica pros and cons

Transamerica's biggest strengths are scale and recognition: a household name backed by a large global parent, over a century of operating history, and a product shelf broad enough to cover fixed, index, variable and immediate annuities in one place. Its immediate annuities in particular are competitive for buyers who want income starting soon from a well-known, globally backed carrier.

The tradeoffs are the rating gap versus A+ peers and the fact that Aegon's headquarters sit overseas, which is a detail some buyers prefer to know even though it does not change U.S. regulatory protection. MYGA shoppers chasing the single highest rate on the board will often find better numbers elsewhere.

Who is Transamerica best for?

Transamerica works well for index annuity buyers who want a nationally known name with broad distribution support behind it, and for people who already have money sitting in a Transamerica-administered employer retirement plan and would rather keep it there at retirement. It is also a reasonable option for immediate annuity buyers who want guaranteed income from a large, globally backed insurer at competitive payout rates.

Brand familiarity is a real factor here too. Transamerica's pyramid and decades of advertising give it recognition that carries weight with buyers in their late 50s through 70s who want a name they already know behind a large deposit.

How Transamerica stacks up against other carriers

The annuity market has dozens of active carriers, so it is worth comparing at least three to five before committing to any one. Look closely at:

• AM Best rating: aim for A- or better as a baseline
• Guaranteed rate and term: even a small rate gap adds up over a 5 to 10 year contract
• Surrender schedule: know when you can access money penalty free
• Free withdrawal provisions: most competitive MYGAs allow 10% a year
• Cap and participation rates: these set your upside on an index annuity

A licensed strategist can pull current numbers from Transamerica and other top carriers so you can compare them side by side rather than shopping one company at a time.

Other annuity companies to consider

• Protective Life: A+ rated, broad FIA and life lineup
• Prudential: A+ rated, large variable and index annuity carrier
• Fixed index annuities in general: see our FIA guide for how caps, participation rates and spreads work before comparing carriers