Monumental Life Insurance, now Transamerica Premier Life Insurance Company, provides a variety of life insurance products with affordable premiums and good coverage. Founded in 1858, it's a reliable option, but remember to carefully assess your specific needs when choosing a policy.
Jeff Rose, CFP® Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance. Read More
The GFC® Money Expert Review Board The GFC® Money Expert Review Board is a team of financial experts who provide independent, unbiased reviews of financial products. Read More
Advertising Disclosure GoodFinancialCents® has an advertising relationship with the companies included on this page. All of our content is based on objective analysis, and the opinions are our own. For more information, please check out our full disclaimer and complete list of partners.
Quality VerifiedGoodFinancialCents® partners with outside experts to ensure we are providing accurate financial content.
These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times.
Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism.
Our expert reviewers hold advanced degrees and certifications and have years of experience with personal finances, retirement planning and investments.
Why You Can Trust GoodFinancialCents®GoodFinancialCents® partners with outside experts to ensure we are providing accurate financial content.
These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times.
Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism.
Our expert reviewers hold advanced degrees and certifications and have years of experience with personal finances, retirement planning and investments.
In 2014, Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company. If you still have a policy with the name Monumental Life Insurance Company, you should have received some notifications in the mail.
According to the press release, “It’s the same company, just with a different name, so your policy or certificate number will not change.” If you would like to learn more about Transamerica, you can check out our review of the company.
When you decide to purchase life insurance, you need to make sure that you are making an educated decision when you select your company and your policy features.
If you are shopping for life insurance, it is usually a good idea to read customer reviews as well as research the policies themselves.
Monumental Life Insurance offers policies to replace lost income for loved ones should you unexpectedly die. When you die, your income, obviously, ceases as well, but this can leave your loved ones in quite a bind. Life insurance replaces this income, so you can die with the peace of mind that your loved ones will still have their needs met.
Monumental life insurance reviews indicate that their premiums do tend to increase; however, many policies are very affordable, and you can provide good coverage for your family.
You should never buy a policy before you look at some of the popular companies, like Banner Life Insurance Company.
We left the history and financial strength of Monumental Life in this review because they are a large part of what Transamerica is today. You need to know the full history of a carrier.
Monumental Life Insurance Company began its operation in the insurance industry back in 1858. The company started out as Mutual Life Insurance Company of Baltimore, and its initial products were life and fire insurance coverage.
It wasn’t until the 1930s that the company changed its name to Monumental Life Insurance Company. It was around that same time period that the insurer also entered into offering other types of insurance protection to its customers. Monumental provides its products through both a network of captive agents who are employees of the company, as well as via independent insurance agents.
Recently, Monumental Life was integrated into the Transamerica Agency Network, Inc. This was formed by uniting the agents of Monumental Insurance Company and Life Investors Financial Group, Inc. Even with this merger, the reps of Monumental Life offer the same coverage and policies to their customers.
This change will take place in name only, meaning that the type of coverage that policyholders have will not be affected. The premium amount that is paid by current policyholders will also remain unchanged. Likewise, new policies and/or certificates will not need to be issued. The new name that products will be sold under will now be referred to Transamerica Premier Life Insurance Company.
Today, the home office of Monumental Life Insurance Company is located in Cedar Rapids, Iowa, while the company also has administrative offices that are located in Baltimore, Maryland.
Monumental Life Insurance offers several kinds of life insurance products:
Monumental also offers a series of financial services products. Retirement products can help consumers to save for future income. Today, people are living much longer than they were in the past. Because of this longevity, peoples’ savings – and in turn, their retirement income – are needed to last for longer periods of time. In some cases, people are living for 20, 30, or even more years in retirement.
You can also use Monumental life insurance reviews from consumers to get a clearer idea of what kind of policy will benefit you the most. Consumer reviews offer a better idea of whether or not the policy will help you in layman’s terms, rather than insurance jargon, which can keep you from being overwhelmed. It can help you to read reviews from people who have already been through the process of purchasing insurance so that you can be sure you’re getting the right policy.
You should consider what you are looking for in a life insurance policy when you’re selecting your policy. If you are already retired, for example, replacing income is less of a concern than final expenses wiping out the remainder of your retirement, but if you’re currently working and just want to give yourself and your family additional peace of mind, then you’ll want a final expense policy that covers lost income as well.
Life insurance companies are always changing. You need to find a carrier that has been around for thousands of years and has a great financial outlook.
There are thousands of companies out there. In fact, over 6,000. That’s a lot of options. Unless you want to waste away a month calling companies, you can make one call to us, and we can give you quotes from all of the best-rated life insurance companies.
If you still have questions, we can help with answering any of the concerns that you may have – whether it be in relation to obtaining premium quotes, determining the right type or amount of coverage for your needs, or deciding which of the many carriers in the marketplace may fit your needs and goals the best.
Have you had an experience with Monumental Life? Share in the comments below.
Monumental Life Insurance, now known as Transamerica Premier Life Insurance Company has a rich history dating back to 1858. The company offers a wide range of life insurance products, including term, whole, universal, and index universal life insurance, along with disability, disease, health, burial insurance, annuities, and more.
Customer reviews indicate affordable premiums and good coverage options. While the company has undergone a name change, policyholders’ coverage remains unchanged.
When considering life insurance, it’s essential to research and read customer reviews to make an informed decision. Monumental Life Insurance, with its long-standing history, is a reliable option for those seeking diverse life insurance products.
Remember that selecting the right policy requires careful consideration of your unique needs and financial situation, and comparing quotes from various reputable insurers can help you make the best choice.
Good Financial Cents systematically reviews U.S. insurance companies, emphasizing policy offerings, customer experiences, and overall reliability. Our goal is to present a balanced and comprehensive perspective to potential policyholders. Editorial transparency remains a cornerstone of our approach.
We actively collect information from insurance companies and place significant weight on customer feedback. By integrating this feedback with our research, we can offer a well-rounded evaluation. Each company is then rated based on multiple criteria, resulting in a star rating from one to five.
For a deeper understanding of the criteria we use to rate insurance companies and our evaluation approach, please refer to our editorial guidelines and full disclaimer.
Product Name: Monumental Life Insurance Company
Product Description: Monumental Life Insurance, now known as Transamerica Premier Life Insurance Company, offers a diverse range of life insurance products, including term, whole, universal, and index universal life insurance, along with various supplementary coverage options. With a history dating back to 1858, the company provides financial protection and security for policyholders.
Summary of Monumental Life Insurance Company
Monumental Life Insurance, rebranded as Transamerica Premier Life Insurance Company, boasts a long-standing history in the insurance industry, having commenced operations in 1858. Over the years, it has evolved to offer a comprehensive suite of life insurance products designed to cater to the varying needs of policyholders.
