Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, was founded in 1858 and initially offered life and fire insurance coverage. The company changed its name to Monumental Life Insurance Company in the 1930s and ventured into other insurance domains. Monumental Life Insurance was acquired by the Dutch multinational life insurance company AEGON in 1989 and became a subsidiary of AEGON in 1997. In 2014, Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company. Despite the name change, Monumental Life Insurance continues to provide the same insurance policies and coverage to its clients.
Characteristics | Values |
---|---|
Inception Year | 1858 |
Original Name | Mutual Life Insurance Company of Baltimore |
Current Name | Monumental Life Insurance Company |
Parent Company | AEGON |
Headquarters | Cedar Rapids, Iowa |
Services Offered | Universal Life Insurance, Whole Life Insurance, Interest Sensitive Whole Life Insurance, Disability Insurance, Final Expense Coverage, Retirement Strategies, Cancer Check/Expense, Accident Insurance, Tax Advantage from Life Insurance |
What You'll Learn
- Monumental Life Insurance Company was founded in 1858
- The company initially offered life and fire insurance
- Monumental Life Insurance Company changed its name in the 1930s
- Monumental Life Insurance Company was acquired by Aegon in 1997
- Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company in 2014
Monumental Life Insurance Company was founded in 1858
Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, was founded in 1858. The company initially offered life and fire insurance coverage. In the 1930s, the company ventured into other insurance domains and acquired its present name.
Monumental Life Insurance Company is a life insurance company incorporated under Iowa law. It is principally engaged in offering life insurance and annuity contracts. The company is licensed in all states except New York, the District of Columbia, Guam and Puerto Rico.
In 1989, Monumental Life Insurance Company was taken under the wings of the Holland-based company AEGON. In 1997, Monumental Life became a subsidiary of AEGON. In 2014, Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company. Despite the name change, Monumental Insurance Company continues to strive to provide the same insurance policies and coverage to its clients.
Life Insurance Benefits: Interest Accrual After Death?
You may want to see also
The company initially offered life and fire insurance
Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, was founded in 1858. The company initially offered life and fire insurance coverage. In the 1930s, the company ventured into other insurance domains and acquired its present name. Monumental Life Insurance Company was taken under the wings of the Holland-based company AEGON in 1989 and was later integrated into the Transamerica Agency Network, Inc.
The company is licensed to supply insurance products and services in all states except New York and is also certified to operate in the District of Columbia. Monumental Life Insurance offers a variety of insurance products, including term life insurance plans, whole life insurance, universal life insurance, indexed universal life insurance policies, and final expense life insurance plans. They also provide accident and health insurance (cancer and disability income), traditional, term, universal, and group life products.
Monumental Life Insurance prioritises the middle and lower-income groups based in the United States of America. They remain true to their commitments and always support their clientele with great customer support. Monumental Life Insurance has a wide reach and offers endless policies and benefits to clients in different states via licensed agents.
Solvency II Framework: Life Insurance Compliance Requirements
You may want to see also
Monumental Life Insurance Company changed its name in the 1930s
Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, began its operations in the
Life Insurance and Jeff Bezos: Does He Need It?
You may want to see also
Monumental Life Insurance Company was acquired by Aegon in 1997
Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, was founded in 1858. The company initially offered life and fire insurance but ventured into other insurance domains in the 1930s, when it also acquired its present name. In 1989, Monumental Life Insurance was acquired by the Holland-based company AEGON.
AEGON is a Dutch multinational life insurance, pensions, and asset management company headquartered in The Hague, Netherlands. In 1997, Monumental Life became a subsidiary of AEGON. As a result of the acquisition, Monumental Life underwent a rebranding and, in 2014, changed its name to Transamerica Premier Life Insurance Company. Despite the name change, Monumental Life continued to provide the same insurance policies and coverage to its clients.
Transamerica is now the single brand name for all of AEGON USA's various businesses, including companies whose history goes back over 100 years. The group's key businesses are life insurance, investments, and retirement, and it has major operations in the United States, the Netherlands, and the United Kingdom.
Monumental Life Insurance offers a range of insurance products, including term life insurance plans, whole life insurance, universal life insurance, indexed universal life insurance policies, and final expense life insurance plans. In addition to these, they also provide accident and health insurance (cancer and disability income), traditional, term, universal, and group life products.
Life Insurance: Does Age Affect Payout Value?
You may want to see also
Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company in 2014
Monumental Life Insurance Company, originally known as Mutual Life Insurance Company of Baltimore, has been in the insurance business since 1858. The company initially offered life and fire insurance but later expanded into other insurance domains. In 1989, it was acquired by the Holland-based company AEGON and became a subsidiary.
Over the years, Monumental Life Insurance Company underwent several mergers and acquisitions. In 2014, the company changed its name to Transamerica Premier Life Insurance Company. This change was likely part of a larger rebranding strategy to unify various insurance companies under the Transamerica brand. Despite the name change, Monumental Life Insurance assured its customers that their policies remained unchanged. Policy numbers stayed the same, and the type of coverage that policyholders had would not be affected.
Monumental Life Insurance Company, now known as Transamerica Premier Life Insurance Company, continues to offer a diverse range of life insurance products, including term life insurance, whole life insurance, universal life insurance, and index universal life insurance. They also provide supplementary coverage options such as disability insurance, disease insurance, health insurance, and burial insurance.
The company has received positive reviews for its affordable premiums and good coverage options. Its long history and financial strength make it a reliable option for those seeking life insurance.
Liver Donation: Impact on Life Insurance Policies
You may want to see also
Frequently asked questions
Monumental Life Insurance is a life insurance company incorporated under Iowa law. It is principally engaged in offering life insurance and annuity contracts. It was founded in 1858 as Mutual Life Insurance Company of Baltimore and was acquired by the Dutch multinational life insurance company Aegon in 1997. In 2014, Monumental Life Insurance Company changed its name to Transamerica Premier Life Insurance Company.
Monumental Life Insurance offers a variety of insurance products, including term life insurance plans, whole life insurance, universal life insurance, indexed universal life insurance policies, and final expense life insurance plans. They also provide accident and health insurance (cancer and disability income), traditional, term, universal, and group life products.
Monumental Life Insurance prioritizes the middle and lower-income groups based in the United States. They offer a wide range of policies and benefits to clients in different states through licensed agents. They are known for their commitment to their clients and great customer support. Their trained personnel guide clients in choosing the most suitable policies to maximize advantages.