Page Reviewed / Updated – June 5, 2022

Best for High Benefit Amount

Transamerica’s Immediate Solution allows people to apply for up to $50,000 of coverage to pay for their final expenses. To take out a policy for such a high benefit amount from a competitor, individuals usually need to opt for traditional whole or guaranteed whole life insurance. These types of insurance usually feature higher premium rates and longer payout wait times than burial insurance. As a result, Transamerica’s Immediate Solution is one of the best burial insurance plans for anyone who wishes to provide a large benefit to their loved ones while benefiting from the potentially lower premiums and faster claims processing of true burial insurance.

Pros and Cons of Transamerica’s Burial Insurance


  • Coverage up to $50,000 for people aged 75 and under
  • No medical exam
  • Expedited claims processing on the first $25,000 of the death benefit
  • Fixed monthly premiums
  • Permanent coverage that lasts until age 121


  • Medical questionnaire required
  • No guaranteed approval
  • Maximum available amount is lower for people aged 76 and older
  • No online application available

Overview of Transamerica’s Burial Insurance

Founded in 1904, Transamerica is a trusted name in life insurance. The Immediate Solution policy, which is one of three burial insurance products it offers, stands out for its high maximum death benefit. Depending on the age of the insured, Transamerica will provide $25,000 to $50,000 of coverage. It’s the only burial insurance policy from Transamerica that has no waiting period. This feature also sets Immediate Solution apart from the burial insurance products offered by Transamerica’s competitors.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Immediate Solution 18+ No Medical Exam — Some Health Questions Up to $50,000 None 121

How Much Does Transamerica’s Burial Insurance Cost?

Transamerica’s burial insurance costs about $300 to $14,000 per year, with monthly premium payments ranging from approximately $25 to $1,200. How much an individual can expect to pay depends on a variety of factors. Based on the applicant’s answers to a medical questionnaire, Transamerica classifies their health status as standard or preferred. Those who qualify for preferred status receive a lower rate. Underwriters also consider whether the applicant is male or female, if they smoke and their age at the time of application.

Eligibility, Plan Details & Other Information

Numerous features of Transamerica’s Immediate Solution insurance set the product apart from other burial insurance policies available from the company and its competitors. These include a high maximum benefit, no waiting period, expedited underwriting and claims processing, optional rider availability and the ability to borrow against a policy’s cash value.


Transamerica’s burial insurance is available to people aged 0 to 85. To qualify for coverage, an applicant must meet minimum health standards. However, there is no medical exam. Instead, applicants answer a series of health-related questions. Underwriters may turn down applications if a person has a chronic medical condition, such as uncontrolled diabetes or heart disease. The maximum amount of coverage available varies based on age, as follows:

  • 0 to 55: $50,000
  • 56 to 65: $40,000
  • 66 to 75: $30,000
  • 76 to 85: $25,000

The burial insurance policy remains in effect until the insured reaches the age of 121. Transamerica sells the insurance in all 50 states, but plan terms vary in some areas.

No Waiting Period

Most burial insurance policies have a waiting period of 2-3 years. If the insured dies during the waiting period, the insurance company refunds all premiums paid, but the beneficiaries don’t receive any of the death benefit. Transamerica’s burial insurance doesn’t have this restriction. Instead, policies take effect immediately, and the insurer will pay out full death benefits, even if the insured dies the next day. 

Expedited Underwriting and Claims Processing

Transamerica is able to quickly process applications for Immediate Solution insurance. In most cases, applicants will receive a decision within 24 hours. Beneficiaries also benefit from expedited processing when the insured passes away. The claims department expedites payout on the first $25,000 of the death benefit. As a result, loved ones don’t need to wait to make final arrangements.

Cash Value

When the insured makes premium payments, a portion of that money funds a cash account. The insured can take out a policy loan against the cash account to obtain money to cover living expenses, major purchases or other expenses. Policy loans carry an annual variable interest rate of 8% or less. If an individual takes out a policy loan, they don’t have to repay it; however, Transamerica will deduct the amount owed from the death benefit when the insured dies.

Available Riders

Transamerica offers three riders for their burial insurance:

  • Accelerated Death Benefit with Nursing Home Benefit: This rider allows the insured to receive a portion of the death benefit while still alive if a medical provider diagnoses them with a terminal illness. The insured can also access money to pay for long-term care in a nursing home in some cases.
  • Accidental Death Benefit Rider: The Accidental Death Benefit Rider adds an extra amount to the death benefit payout if the insured dies due to an accident within 90 days of the event taking place.
  • Children’s and Grandchildren’s Benefit: This rider provides $1,000 to $5,000 of term life insurance for the insured’s children and/or grandchildren aged 17 and under. The coverage remains in effect until the child or grandchild turns 25. If the rider is in place for at least 2 years before the child or grandchild’s 25th birthday, they can convert the insurance to a whole life policy.

Riders increase the monthly premiums paid for Immediate Solution burial insurance, and not all riders are available in every state.

Who Should Consider Transamerica’s Burial Insurance?

People Who Want Quick Peace of Mind

Transamerica’s Immediate Solution is one of the few burial insurance policies with no waiting period. The fast processing time means a person can apply and have insurance protection in place within a day or two.

Individuals Concerned About Large Expenses

Many burial insurance policies provide a limited death benefit that’s only enough to cover final expenses. Transamerica’s Immediate Solution offers larger payouts of $25,000 to $50,000, increasing the likelihood that beneficiaries will have money left over to pay for other debts and expenses after making final arrangements for their deceased loved one.

What Are People Saying About Transamerica’s Burial Insurance

Many online reviewers remark on how quick the application process is. They mention how they applied in the morning and heard back the same day or by the afternoon of the following day. Reviewers who obtained multiple quotes before purchasing burial insurance remark on the low premium rates compared to the size of the available death benefit.

One common complaint is that Transamerica doesn’t offer online applications. Many people prefer to buy life insurance on their own but do give the company’s agents top marks for professionalism. Transamerica’s company-wide customer service center receives mixed reviews. Some individuals report long wait times or a lack of follow-up on questions and complaints. However, others say they received prompt assistance and tout the empathy and understanding of Transamerica’s customer service reps.

Frequently Asked Questions

What Does Burial Insurance Cover? 

Burial insurance can pay for funeral expenses, burial costs and the policyholder’s unpaid debts, or it can help loved ones financially. 

Click here for our full answer to this question.

What Type of Insurance Covers Burials? 

Burial insurance or life insurance are the types of policies to look for when seeking coverage for burial services. 

Click here for our full answer to this question.

How Do You Buy Burial Insurance? 

Individuals can buy burial insurance by selecting an insurance company they want coverage from and visiting their website. Typically, the individual requests an online quote and then either mails in a completed application form or fills out and submits the form online. 

Click here for our full answer to this question.

Do Burial Insurance Policies Have a Cash Value? 

Some burial insurance policies have a cash value, meaning the policy builds equity that the policyholder can borrow against, like a loan, over time. 

Click here for our full answer to this question.

How Does Burial Insurance Work? 

The insurance company pays out the agreed-upon amount to the policyholder’s chosen beneficiaries after they pass away. 

Click here for our full answer to this question.