Transamerica and Marcan Insurance [Crazy Low Rates]
Congrats! You discovered one of the few life insurance companies that is marijuana friendly. Transamerica and marijuana may not have a long history together, but it’s one of the few companies offering non-smoker rates to people who smoke for fun or relaxation.
If you are simply looking for rates, use the Instant Quote tool on this page. Select “Standard” for health class and “No” for tobacco if you smoke cannabis less than once a month. If you smoke more than once a month, select smoker rates. Scroll down to Transamerica to see their current pricing. This company is best for people who smoke occasionally. For hobbyists, check out our assessment of the 12 most marijuana friendly life insurance companies.
The rest of this article will go into more depth on the history of Transamerica, it’s financial stability, products available for cannabis enthusiasts, and underwriting guidelines.
The Origin of Transamerica Life Insurance Company
Transamerica began in 1904 and in the back of a San Francisco saloon. The company’s original name was called the Bank of Italy by its founder Amadeo Giannini with the goal to provide financial services to the community.
This company merged with the Bank of America in 1928 and eventually bought the Occidental Life Insurance Company through the Transamerica Corporation. In 1956, Transamerica Life formed on its own as a separate company.
The Transamerica pyramid was adopted as its icon in 1972. In the 1980’s, the company adopted the goal to offer both and insurance and financial services to more people. In July 1999, the company became part of AEGON N.V., one the world’s leading international financial organizations.
The Transamerica Tower

The Transamerica Tower is one of the iconic buildings in the San Francisco skyline. While it is no longer their headquarters, it is still featured in the Transamerica logo.
In the late 1960s, then CEO John R. Beckett commissioned the iconic Transamerica Tower in San Francisco. It is the tallest skyscraper in the city, but will be surpassed when the Salesforce Tower is complete. The Transamerica Tower took three years to build.
Fun fact. People watching the pour of the tower foundation threw coins into the wet cement for luck. While no one knows how much money, it is estimated that the foundation contains thousands of dollars.
Transamerica Financial Ratings
Is Transamerica a financially stable company? More importantly, will they be able to pay their claims? This is something any potential buyer of life insurance should research before buying a policy. Not all life insurers are equal when it comes to financial stability.
You can learn about the financial rating since every publicly traded company is reviewed by a number of financial rating agencies annually.
The following are the current results of the financial stability of Transamerica as seen by the four premier rating agencies:
• A.M. Best – A+
• Fitch – A+
• Moody’s – A1
• Standard and Poor’s – A-
Conclusion: Our review of these ratings leads us to conclude Transamerica is very financially strong in addition to being fiscally well managed. These high ratings clearly suggest the company will honor all claims for both now and the immediate future.
Transamerica and Marcan Insurance Products
Transamerica offers a range of life insurance products:
• Term Life
• Whole Life
• Universal Life
• Variable Universal Life
• Accidental Death
• Final Expense Life
The next sections contain brief overviews of each type of life insurance policy.
Transamerica Term Life Products
Transamerica sells 2 types of term products. Both products offer choices of terms for 10, 15, 20, 25 and 30 years. Coverage ranges from $25,000 up to $1,000,000 in per policy. Most applicants must undergo a medical exam. However if you are under a certain age and looking for a certain coverage amount, you may be approved for coverage without having to undertake a medical exam. These change from time to time, so please call for their current underwriting guidelines.
There are 3 types of term policies for both products:
• Level term – Provides a fixed death benefit and premiums stay the same.
• Decreasing term – Death benefit decreases over time as well as premiums.
• Increasing term – Death benefit increases over time as well as premiums.
Trendsetter® Super Series
Provides up to $1,000,000 dollars in coverage. Premiums increase annually for Trendsetter.
Super YRT beginning in:
- Year 11 for the 10- year policy
- Year 16 for the 15-year policy
- Year 21 for the 20-year policy
- Year 26 for the 25-year policy
- Year 31 for the 30-year policy
This policy also comes with a conversion feature giving you the option to turn it into a Universal policy at the end of the term. Plus they do not require a medical exam for the conversion.
Trendsetter® LB (Living Benefits)
Offers both death benefits and “living benefits ” which entail an accelerated death benefit for a qualifying chronic, critical or terminal illness. Premiums increase annually beginning in year 11 for the 10-year policy, in year 16 for the 15-year policy, in year 21 for the 20-year policy, in year 26 for the 25-year policy, and in year 31 for the 30-year policy.
Transamerica Whole Life
A whole life policy is permanent life insurance. Permanent life insurance policies cost more than a term policy. The reason is because coverage is for life and the policy provides both death benefits and a cash value accumulation feature. One of the benefits of whole life insurance is that you can borrow against the insurance policy if you need emergency funds.
Transamerica has 2 types of whole life policies:
- Individual whole life insurance
- Group whole life insurance
Transamerica Universal Life Policies
Universal life insurance is similar to whole life with a few differences. They are more flexible than whole life policies because you can adjust the frequency and the amount of the premium.
Transamerica has 3 types of Universal policies which include:
- Index universal life insurance – Offers flexible insurance premiums in combination with an index account.
- Group universal life insurance – Available through employers for a number of individuals.
- Variable universal life insurance – Provides the ability to invest the cash-value portion of your policy to be invested in either stock or bond markets. Premiums and death benefits are adjustable.
Transamerica Accidental Death Insurance
Provides guaranteed death benefits for death as a result of a covered accident. Benefits are payable either separately or in addition to your life insurance coverage. It also covers loss of vision or a limb due to an accident. Coverage is doubled should you be killed while in a licensed transportation vehicle such as a taxi, airplane, or ferry.
2 plans are available:
- Plan A – Pays benefits of $250,000 for a covered accidental death.
- Plan B – Pays benefits of $125,000 for a covered accidental death.
An additional family option is available to pay an additional $125,000 to a spouse and $5,000 for a child named in the policy.
Transamerica Final Expense Life Insurance
Transamerica has 3 different types of policies for final expenses:
- Immediate Solution
- 10 Pay Solution
- Easy Solution
How Transamerica and Marijuana Compare to other Marijuana Friendly Companies
We performed a price analysis of how Transamerica and marijuana prices hold up against other life insurers for the cost of term life insurance. We found the company to is an extremely low cost option for seniors. However, the company is less competitive against other companies for younger applicants.
The company does have some unique underwriting niches when it comes to certain medical conditions, but we may be able to find applicants more affordable coverage. If you have a medical condition (regardless of whether or not you have a medical marijuana card for it), we can point you in the directions of the companies who charge the least for that condition.

Because the results of the medical exam cannot differentiate the methods of getting cannabis into your system, it doesn’t matter if you smoke, eat, or vape.
Underwriting Criteria for Transamerica and Marijuana Hobbyists
How do the underwriters at Transamerica underwrite marijuana smokers?
Here’s the information we received from Transamerica:
- 12x or less per year – Can be rated as “Standard Non-Tobacco”
- 13x or more per year – Will be rated as “Smoker Rates”
- THC on Insurance Lab Tests – No
We recommend always being completely honest on applications. However, if they don’t ask, don’t volunteer information. We also strongly recommend holding off any cannabis consumption for 4 to 6 weeks before the exam.
How Marcan Insurance Can Help with Transamerica Life Insurance
The agents at Marcan Insurance are independent agents. Which means we are not bound to any company or set of products. We work with over 70 of the top rated life insurance companies in the United States. Accordingly, we will spend time shopping all of these companies for competitive pricing for you. So you don’t have to.
We specialize in finding the most affordable companies when it comes to marijuana. We believe Transamerica is a reliable company as well as offers reasonable rates. Therefore it may be a good choice for your situation. Contact us for recommendations on other marijuana friendly companies. Use the Instant Quote tool on the left (top if you’re on mobile) to find rates from Transamerica as well as other well-rated companies, such as Met Life or Prudential. Simply select the health and smoker classifications from the underwriting guidelines above.
We also specialize in pre-existing medical conditions so we can help not only recreational marijuana users but also those with a medical marijuana card. We also provide business life insurance and standard life insurance for those who work in the marijuana industry.
Get affordable life insurance with Transamerica and marijuana use by calling our experts at Marcan Insurance at (888) 987-8447 today!