Lincoln vs. Transamerica: Top Life Insurance in 2024
In a comparison of Lincoln vs. insurance companies, it was a tie. Lincoln offers more affordable rates to men of various ages than . However, offers more affordable rates to women of various ages than Lincoln. Furthermore, Lincoln holds a higher rating from A.M. Best. Lastly, holds a higher rating from the Better Business Bureau.
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Chris Abrams
Licensed Life Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed life and health insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chr...
Licensed Life Insurance Agent
UPDATED: Dec 17, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 17, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Lincoln Heritage Life Insurance rates are cheaper for men of various ages than Transamerica
- A Transamerica life insurance policy is cheaper than Lincoln for women of various ages
- Lincoln holds a higher rating from A.M. Best
- Transamerica holds a higher rating from the Better Business Bureau
Part of what makes comparing life insurance companies difficult is the sheer number of options on the market. To simplify matters, we will be focusing on Lincoln vs. Transamerica life insurance companies today.
Our Transamerica and Lincoln Financial Group life insurance review will cover the term life insurance rates offered to men and women of various ages. Also covered will be ratings from both the BBB and A.M. Best.
Before we dive into our Lincoln vs. Transamerica life insurance comparison, type your ZIP code into our free and helpful tool above to find the most affordable life insurance quotes in your area.
Lincoln vs. Transamerica: Which company offers more affordable life insurance rates to men?
The simplest place to start when comparing two companies is pricing. Let’s look at a table that compares Lincoln vs. Transamerica monthly term life insurance rates for men.
Lincoln vs. Others: Sample Rates for Males
| Companies | Male Age: 30 Average Monthly Rates | Male Age: 40 Average Monthly Rates | Male Age: 50 Average Monthly Rates | Male Age: 60 Average Monthly Rates |
|---|---|---|---|---|
| Lincoln National | $12.34 | $15.22 | $30.96 | $71.95 |
| Mutual of Omaha | $13.33 | $19.35 | $33.33 | $80.84 |
| Nassau Life | $17.43 | $26.15 | $51.69 | $119.78 |
| Nationwide | $13.56 | $16.41 | $32.59 | $86.41 |
| North American | $12.98 | $16.50 | $31.90 | $77.44 |
| Principal | $12.69 | $15.80 | $31.15 | $71.97 |
| Protective | $11.62 | $14.78 | $30.07 | $69.90 |
| Prudential | $21.88 | $25.60 | $38.07 | $79.41 |
| Sagicor | $12.60 | $17.07 | $43.59 | $103.05 |
| SBLI | $11.80 | $14.53 | $31.88 | $75.61 |
| Transamerica | $13.33 | $20.21 | $40.21 | $101.91 |
How easy is it to find affordable Lincoln vs. Transamerica life insurance quotes? As you can see, Lincoln is nearly $1 cheaper per month than Transamerica for men in their 30s.
Men in their 40s, however, pay $5 more per month for a term life insurance policy with Transamerica.
Is Transamerica more expensive for men in their 50s and 60s as well? Yes, Transamerica is $10 and $30 more expensive per month, respectively.
In short, our Lincoln vs. Transamerica life insurance review has shown us that Lincoln offers more affordable rates to men of various than Transamerica.
Term Life Insurance Policy Specifications
Since we know that Lincoln is the cheaper company for men on average, let’s take a closer look at Lincoln’s TermAccel policy. Pay particular note to term periods and death benefits.
Lincoln Financial TermAccel
| Issue Ages: | 18 - 60 |
| Coverage Options: | Term Life Insurance |
| Death Benefit Amounts: | $100,000 - $1,000,000 |
| Health Classes: | Preferred Plus, Preferred, Standard Plus & Standard |
| Application Type: | Online |
| Telephone Interview: | Yes |
| Exam Potential: | Could be required |
| Underwriting: | MIB, MVR, Prescription History |
| Fastest Approval Time: | 2 - 7 Business Days |
It is very much worth being aware of your specific needs prior to choosing not only a company, but a company’s specific coverage form. No two companies offer the exact same product line.
Now that we have some more details about Lincoln’s coverage, let’s see if it can retain its lead when we analyze the rates offered to women of various ages.
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Which company offers more affordable rates to women?
Let’s now take a look at a table comparing Lincoln vs. Transamerica monthly term life insurance rates for women.
Lincoln vs. Others: Sample Rates for Females
| Companies | Female Age: 30 Average Monthly Rates | Female Age: 40 Average Monthly Rates | Female Age: 50 Average Monthly Rates | Female Age: 60 Average Monthly Rates |
|---|---|---|---|---|
| Lincoln National | $16.10 | $21.22 | $37.41 | $74.81 |
| Mutual of Omaha | $11.61 | $16.56 | $27.31 | $57.19 |
| Nassau Life | $16.14 | $22.52 | $42.11 | $89.06 |
| Nationwide | $13.34 | $16.19 | $27.13 | $61.69 |
| North American | $11.66 | $14.96 | $26.62 | $54.34 |
| Principal | $11.27 | $14.39 | $25.94 | $51.41 |
| Protective | $10.43 | $13.31 | $25.12 | $49.88 |
| Prudential | $17.72 | $21.22 | $37.63 | $59.07 |
| Sagicor | $10.95 | $15.10 | $36.75 | $63.78 |
| SBLI | $10.38 | $13.08 | $26.72 | $53.85 |
| Transamerica | $12.26 | $17.63 | $32.25 | $81.06 |
Is Lincoln also cheaper for women of various ages? As you can see, women in their 30s pay nearly $4 more per month with Lincoln National. Women in their 40s pay even more with Lincoln, at $5 more per month.
How much more expensive is Lincoln for women in their 50s and 60s? For these demographics, Transamerica is $5 and $6 cheaper per month.
We now know that Transamerica is the cheaper company for women across the board. Let’s take a look at the ratings from the Better Business Bureau and A.M. Best to see if the current tie can be broken.
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Lincoln vs. Transamerica: Which company is more well-reviewed?
To wrap up, let’s look at the ratings given to these two companies by A.M. Best. These Financial Strength Ratings (FSR) give potential insured confidence in an insurer’s ability to meet its financial obligations.
Let’s take a look at a table that compare the ratings given to major life insurance companies by A.M. Best.
List of the Top 25 Life Insurance Companies in the U.S.
| Life Insurance Company | A.M. Best Rating | No Medical Exam Option |
|---|---|---|
| AIG | A | No |
| ANICO | A | Yes |
| Assurity | A- | Yes |
| Banner Life | A+ | Yes |
| Cincinnati Life | A | No |
| Fidelity | A- | Yes |
| Foresters | A | Yes |
| Gerber Life | A | Yes |
| John Hancock | A+ | Yes |
| Lincoln Financial | A+ | Yes |
| MetLife (Brighthouse) | A+ | No |
| Midland National | A+ | No |
| Minnesota Life | A+ | Yes |
| Mutual of Omaha | A+ | Yes |
| Nationwide | A+ | No |
| North American Company | A+ | No |
| Pacific Life | A+ | Yes |
| Principal | A+ | Yes |
| Protective | A+ | No |
| Prudential | A+ | No |
| Sagicor | A- | Yes |
| SBLI | A+ | Yes |
| Symetra | A | No |
| Transamerica | A+ | Yes |
| VOYA | A | No |
Lincoln received rating of “A+” (Superior), which is the second-highest rating given by A.M. Best.
What rating did A.M. Best give to Transamerica? Transamerica received a lower rating of “A” (Excellent).
The Better Business Bureau is another organization that can provide security in one’s choice of insurance provider.
Lincoln Financial Group received the Better Business Bureau’s lowest possible rating of “F.” Furthermore, Lincoln Financial Group does not hold BBB accreditation.
How did Transamerica fare in comparison? Transamerica received a “B” rating from the Better Business Bureau. However, Transamerica also lacks accreditation.
In conclusion, Lincoln offers more affordable rates to men of various ages and holds a higher rating from A.M. Best. However, Transamerica offers more affordable rates to women and holds a higher BBB rating.
We hope you’ve learned all you needed to decide whether to buy Lincoln vs. Transamerica life insurance. Type your ZIP code into our free and helpful tool below to find affordable quotes in your area.
Read more:
- Lincoln vs. Prudential: Top Life Insurance
- Lincoln vs. Sagicor: Top Life Insurance
- Lincoln vs. SBLI: Top Life Insurance
- Transamerica Life Insurance Company Review
Frequently Asked Questions: Lincoln vs. Transamerica Life Insurance
What follows are a couple of commonly asked questions about Transamerica and Lincoln Heritage.
#1 – What is the Lincoln Life Insurance contact number?
Lincoln can be contacted at 800-487-1485.
#2 – How do I make a Transamerica life insurance payment?
You can send your payment to PO Box 869092. Plano TX 75086-9092. You can also pay online.
#3 – What is the Transamerica Life Insurance number?
Transamerica’s customer service number is 1-888-345-0234.
Your one-stop online guide for life insurance quotes. Get free quotes now!
Secured with SHA-256 Encryption
Chris Abrams
Licensed Life Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed life and health insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chr...
Licensed Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.