Transamerica is a life insurance company owned by the world’s largest insurance company. In 1904, a young entrepreneur named AmadeoGiannini created the Bank of Italy in a converted San Francisco saloon. His goal was to make financial services available to everyone — not just the wealthy few. And so he did; after the 1906 quake and fire, Giannini set up a makeshift bank on the San Francisco docks, giving residents’ loans to rebuild, secured with only a hand shake.In 1928 he merged with Bank of America and in 1930, he acquired Occidental life insurance. In the mid-1980s, Transamerica refocused its core business on its founding mission of making insurance and financial tools available to more people. And in July 1999, Transamerica began a new chapter in its history when it became part of one of the world's leading international financial organizations: Aegon N.V (Tansamerica).

One of the many product Transamerica offer to people is life insurance. Many people are buying life insurance today because they want to a secured future for the loved ones. Financial freedom is everybody’s idea these days. Transamerica is one of many companies out there selling life insurance to individuals. One of Transamerica’s direct competitors is New York Life Insurance. New Yor Life is another financial institution that sells services life Transamerica. Under life linsurance, there are many types of insurance that these companies offer. I will only talk about one with is term life insurance. These companies offer term life insurance – most people will asked themselves what term life insurance means; its insurance that provides coverage for a set term and does not accumulate cash surrender value. This usually proceeds with a monthly premium an individual needs to pay to the insurance company. While I was conducting my research, I could get a direct quate as to how much it will cost because I had to apple but I will tell you this, I have life insurance with this two insurance companies.With Transamerica, I was paying $100.00 for a $100, 000.00 death which was growing as time went on and with New York Life Insurance, I was paying $40.00 for a $60, 00.00 death benefit with interest.

Between these two companies, Transamerica is the largest because it has been around long before New York Life. These are American companies located in opposite direction of the nation. Transamerica is located in the west and New Your Life in the East in New York City.

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