Transamerica Life Insurance $57M Settlement: Rate Freeze 5 Years — Who's Eligible and How to Check

# Transamerica Life Insurance $57M Settlement: Rate Freeze 5 Years — Who's Eligible and How to Check

> **Quick answer:** Transamerica Life Insurance has agreed to a $57 million class action settlement covering policyholders who received written notice of cost-of-insurance rate increases in 2022 or 2023. Eligible class members automatically receive benefits — including a minimum $200 payment and a five-year freeze on future rate increases — with no claim form to file. The opt-out deadline is May 30, 2026.

If you received a letter from Transamerica Life Insurance notifying you of a cost-of-insurance rate increase in 2022 or 2023, you may already be enrolled in a $57 million class action settlement — and you don't have to do anything to claim it. Here is everything you need to know about the Transamerica life insurance $57M settlement rate freeze 5 years provision, who qualifies, and what you receive.

*This article is for informational purposes only and does not constitute legal or financial advice. Consult a qualified attorney or financial advisor for personal legal and financial decisions.*

## What the Transamerica Settlement Is About

The case is formally titled *Estate of Handorf, et al. v. Transamerica Life Insurance Company*, filed in the U.S. District Court for the Northern District of Iowa, Cedar Rapids Division (Case No. 2:23-cv-00032-CJW-MAR). The lead plaintiff is the Estate of Lawrence Handorf; the class is represented by Susman Godfrey LLP.