TruStage Life Insurance Review | TruStage Life Insurance Ratings
TruStage Life Insurance offers term and whole life policies without requiring a medical exam. A $250,000 TruStage term life insurance policy costs an average of $75 per month for a 25-year-old. While expensive, many TruStage life insurance reviews focus on the fact that you can get instant approval.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- TruStage life insurance rates are usually much higher than other companies
- You can buy whole, term, and guaranteed issue TruStage life insurance policies
- Unlike other companies, TruStage offers instant approval without a medical exam for most policies
Although TruStage life insurance rates are higher than average, it might be one of the best life insurance companies for you if you need to skip the medical exam standard providers require. For most applicants, TruStage offers instant approval, and applications only take a few minutes to complete.
However, TruStage is not the right company for everyone. Explore this TruStage life insurance review to see if it might be the right company for your financial goals. Then, compare other no-medical-exam companies to ensure you find the best price.
TruStage Life Insurance Reviews and Coverage Options
If you’re considering TruStage Life Insurance coverage, one of the first things you’ll want to know is how much will a policy cost you. So, let’s take a look. To give you an idea, check out the example and table below.
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How TruStage Life Insurance Rates Work
When purchasing term life insurance through TruStage, the coverage lasts until age 80. The coverage doesn’t require you to undergo a medical exam as part of the underwriting process. It’s all done online in under 10 minutes, and all you have to do is to answer a few health questions after you create your TruStage life insurance login.
The TruStage term life insurance rates are from $10,000 to $300,000 in death benefit, and the ages to apply for coverage are 18 to 69. You may say, “This sounds perfect. What is wrong with this coverage?” Now, here’s what’s wrong with this coverage. Below are some TruStage Life Insurance complaints.
Your premium rate increases every five years as you reach a new rate band. Yes, unlike a traditional term for which your premiums are guaranteed to remain the same for the entire contract length, you can’t expect the same with TrueStage.
As you get older, you pay more until you get to a point that it’s too expensive to keep it. No wonder they let you keep it until the age of 80. Additionally, at the end of the term, there is no conversion privilege at the end of the term’s contract.
If you outlive your term (you reach 80 years old), your policy is out the window. Here is the worst part: the initial premium they give you isn’t even competitive price-wise. Let’s take a look at an example from the price charts below:
A 25-year-old male in good health buys a term policy from TruStage.
- The initial premium for the next four years is $75.25 per month.
- When he turns 30, he will pay $75.50 per month.
- When he turns 35, he will pay $81.50 per month.
- When he turns 40, he will pay $120.00 per month.
- When he turns 45, he will pay $156.00 per month.
- When he turns 50, he will pay $222.75 per month.
- When he turns 55, he will pay $315.50 per month.
- When he turns 60, he will pay $519.25 per month.
- When he turns 65, he will pay $813.75 per month.
You can renew it until age 80, for which they don’t display the prices, but you can see where this goes in the following chart of TruStage life insurance rates.
TruStage Individual Term Life Insurance Monthly for Men
| Life Insurance Amount | 25-29 | 30-34 | 35-39 | 40-44 | 45-49 | 50-54 | 55-59 | 60-64 | 65-69 |
|---|---|---|---|---|---|---|---|---|---|
| $10,000 | $4.80 | $5.50 | $6.10 | $6.70 | $8.10 | $10.00 | $14.00 | $19.50 | $27.80 |
| $20,000 | $7.10 | $8.50 | $9.70 | $10.90 | $13.70 | $17.50 | $25.50 | $36.50 | $53.10 |
| $30,000 | $9.40 | $11.50 | $13.30 | $15.10 | $19.30 | $25.00 | $37.00 | -- | -- |
| $40,000 | $11.70 | $14.50 | $16.90 | $19.30 | $24.90 | $32.50 | $48.50 | -- | -- |
| $50,000 | $14.00 | $17.50 | $20.50 | $23.50 | $30.50 | $40.00 | $60.00 | -- | -- |
| $60,000 | $16.30 | $20.50 | $24.10 | $27.70 | $36.10 | -- | -- | -- | -- |
| $70,000 | $18.60 | $23.50 | $27.70 | $31.90 | $41.70 | -- | -- | -- | -- |
| $80,000 | $20.90 | $26.50 | $31.30 | $36.10 | $47.30 | -- | -- | -- | -- |
| $90,000 | $23.30 | $29.50 | $34.90 | $40.30 | $52.90 | -- | -- | -- | -- |
| $100,000 | $25.50 | $32.50 | $38.50 | $44.50 | $58.50 | -- | -- | -- | -- |
TruStage Individual Term Life Insurance Monthly for Women
| Life Insurance Amount | 25-29 | 30-34 | 35-39 | 40-44 | 45-49 | 50-54 | 55-59 | 60-64 | 65-69 |
|---|---|---|---|---|---|---|---|---|---|
| $10,000 | $4.80 | $5.50 | $6.10 | $6.70 | $8.10 | $10.00 | $14.00 | $19.50 | $27.80 |
| $20,000 | $7.10 | $8.50 | $9.70 | $10.90 | $13.70 | $17.50 | $25.50 | $36.50 | $53.10 |
| $30,000 | $9.40 | $11.50 | $13.30 | $15.10 | $19.30 | $25.00 | $37.00 | -- | -- |
| $40,000 | $11.70 | $14.50 | $16.90 | $19.30 | $24.90 | $32.50 | $48.50 | -- | -- |
| $50,000 | $14.00 | $17.50 | $20.50 | $23.50 | $30.50 | $40.00 | $60.00 | -- | -- |
| $60,000 | $16.30 | $20.50 | $24.10 | $27.70 | $36.10 | -- | -- | -- | -- |
| $70,000 | $18.60 | $23.50 | $27.70 | $31.90 | $41.70 | -- | -- | -- | -- |
| $80,000 | $20.90 | $26.50 | $31.30 | $36.10 | $47.30 | -- | -- | -- | -- |
| $90,000 | $23.30 | $29.50 | $34.90 | $40.30 | $52.90 | -- | -- | -- | -- |
| $100,000 | $25.50 | $32.50 | $38.50 | $44.50 | $58.50 | -- | -- | -- | -- |
Here is what the 25-year-old could have done if he had bought a policy from Banner Life: $250,000 for a 25-year-old male in good health would cost him $18.49 per month. The premium remains the same for 30 years . I can see your argument (if you have one): With TruStage, the coverage remains until the age of 80, so it’s like a 55-year term.
Here is what the 25-year-old can do. He can buy a guaranteed universal life (GUL) coverage until the age of 100 years old from Protective Life for $82.86 per month. The premium payment stays the same until he reaches the age of 100.
TruStage Life Insurance Options
TruStage offers property and casualty, auto, and life insurance coverage. This review will focus on the life insurance products and services they offer, which are term, whole, and guaranteed issue life insurance. Also, the TruStage life insurance customer service number is 1-888-888-0375. You may need to call them if you have an existing policy and need your TruStage life insurance login.
This will be intriguing. Let’s get to it!
TruStage Term Life Insurance
Before diving into TruStage’s term insurance and showing you a term life rates chart, let’s talk about how traditional term life policies work. You will need to have a basic understanding of life insurance before recognizing pitfalls and mistakes when choosing a life product.
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How does Traditional Level Term Life work?
Term life insurance is straightforward, affordable protection that covers the insured for a specified period. The most common term or lengths are between 10 and 30 years, with the most common being the 20-year term life insurance. When buying a level term life insurance, your premiums and the life insurance death benefit remain fixed. A lot of insurance providers do not require medical exams for this type of policy.
In other words, if you bought a 30-year term when you were in your thirties, you are guaranteed to keep the same premium payment until the end of your term which, in this case, would be in your sixties.
If the insured dies during the initial term, the company will pay the full death benefit to designated beneficiaries. If the insured outlives the term, he may convert the policy to permanent coverage without proving insurability or going through the underwriting process, annually renew the term until the age of 95 (depending on the company), or drop the coverage because there is no need for it.
What is hidden in TruStage’s fine print?
TruStage® Term Life Insurance to Age 80 is made available through TruStage Insurance Agency, LLC and issued by CMFG Life Insurance Company. This is a term policy that increases when entering each five-year band: 30, 35, 45, 50, 55, 60, 65, 70, and 75. Base Policy Number: ICC16-A10a-039, A10a-039-2016, ICC17-SIT-2, 2017-SIT-2.
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TruStage Whole Life Insurance
What is TruStage’s whole life insurance? For those who seek permanent life insurance protection without restricted periods that term life offers, whole life coverage is a perfect solution. You will not need to worry that your policy will expire at some point in the future after you can’t qualify for new coverage because of health issues or old age.
So, how much does whole life insurance cost? The premium and death benefits remain level throughout your lifetime. Whole life provides a cash accumulation element that grows on a tax-deferred basis which you can obtain if you cancel your policy or take a loan. TruStage’s whole life coverage is for those who seek final or burial expense solutions.
The coverage is a simplified issue, meaning there are no exams or invasive tests you need to take as part of the underwriting process. Instead, there are a few health questions you need to answer, and the approval is based on the answers and the information obtained from other public sources such as the Medical Information Bureau and prescription database.
- Issue ages: 18–85
- Face amount: $1,000–$100,000
- Simplified issue whole life
- No exam, a few health questions
- Fixed premiums for life
Takeaway: I don’t take issue with TruStage’s whole life coverage as I took with their term coverage options. It’s a traditional life insurance without price fluctuations. They seem to be on par, price-wise, with other companies on the market. I noticed, however, that they are priced better for males than females of the same age. It’s your responsibility as a potential client to get as many quotes as possible.
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TruStage Guaranteed Issue Life Insurance
As the name implies, guaranteed issue life insurance guarantees your acceptance regardless of your medical conditions. You can’t be turned down for this coverage. Note, this type of coverage should never be your first choice when shopping for life insurance. You should only contemplate this type of protection after you have taken the time to exhaust all other possibilities.
The only way an insurer can offer you coverage without asking any health questions is by limiting your face value amount (up to $25,000 in death benefits) and placing a two-year exclusion. This means, if you pass away due to natural causes during the first two years, TruStage will pay the total premiums paid plus 10 percent interest. From year three onwards, your beneficiaries will be eligible for 100 percent of the purchased death benefit. This isn’t ideal if you can qualify for a traditional coverage (level benefit).
- Issue ages: 45–80
- Face amount: $2,000–$25,000
- No health questions
- Guaranteed issue whole life
- Fixed premiums for life
Takeaway: I don’t see any issue with this plan, however, there are better companies, price-wise, if you are after guaranteed acceptance life insurance.
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Who is TruStage?
TruStage is a subsidiary of CMFG Life Insurance Company (CUNA Mutual Financial Group) which provides insurance and financial products to credit unions and its members. The “CUNA” (pronounced “Cue-Nuh”) stands for “Credit Union National Association”.
It offers an array of financial products from bonds, auto insurance, and life insurance products, to mortgage loans, commercial loans, and asset protection service. CUNA Mutual Company was founded in 1935 and is headquartered in Madison, Wisconsin. It has additional offices in Iowa, Texas, and Kansas. The company was formerly known as CUNA, and in February 2012, changed its name to CMFG.
How are CUNA Life Insurance Company’s financial ratings?
Is TruStage a reputable company? According to A.M. Best, CUNA (and its subsidiary TruStage) has an A (Excellent) rating. As mentioned in many of my life insurance review posts, financial ratings are an important factor in evaluating the company’s ability to remain in business while paying claims, however, it has nothing to do with the quality of products or services they provide to its clients. It demonstrates financial stability by having more assets than liabilities.
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What is the bottom line?
Is TruStage Life Insurance legit? This TruStage Life Insurance review is just one example of how buying life insurance by yourself can be detrimental to your pocketbook and your beneficiaries. If you bought term life insurance from TruStage, know that you can replace it with a different term life insurance policy. If not, get ready for a price increase every five years.
Remember, there are no “deals” when it comes to life insurance rates.
Remember, as with any company, the pros and cons of TruStage insurance are similar in that if it offers no-exam coverage or guaranteed issue plans, you are paying for that convenience. Life insurance prices are fixed by law and are determined by the underwriter based on your health and the risk you pose to the carrier.
We at Effortless Insurance represent more than 50 carriers. Our loyalty is to our clients, not the insurance carriers. We demonstrate our commitment by placing clients with the appropriate insurer for them with the highest likelihood for approval.
Now that you’ve read our TruStage Life Insurance review, use our FREE quote tool below to compare life insurance rates from the best life insurance companies around. Get started now.
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Frequently Asked Questions
Is TruStage car insurance good?
TruStage’s auto insurance policies are provided through Liberty Mutual, which currently has an A rating from BBB.
What are the CMFG life insurance reviews?
CMFG currently carries the rating for TruStage life insurance. The BBB gives CMFG an A+ rating. However, there are 28 complaints on file.
What is the TruStage life insurance address?
The Corporate Headquarters is at 5910 Mineral Point Road, Madison WI 53705
Where can I find customer reviews and ratings for TruStage Life Insurance?
Customer reviews and ratings for TruStage Life Insurance can be found on various online platforms, consumer review websites, and insurance industry forums. Additionally, you may check for customer feedback specific to CMFG Life Insurance Company, the parent company of TruStage.
How does TruStage handle claims?
In the event of a claim, policyholders or their beneficiaries should contact TruStage Life Insurance directly to initiate the claims process. TruStage will guide you through the necessary steps and documentation required to file a claim and receive the policy’s death benefit.
Can I customize my TruStage Life Insurance policy?
TruStage Life Insurance policies may offer some customization options. Depending on the policy type, you may have the ability to choose the coverage amount, policy duration, and optional riders or benefits to tailor the policy to your specific needs.
How can I obtain a quote for TruStage Life Insurance?
To obtain a quote for TruStage Life Insurance, you can visit the TruStage website or contact their customer service. Provide relevant information, such as your age, desired coverage amount, and any specific preferences, to receive a personalized quote.
How are the ratings for TruStage Life Insurance?
TruStage Life Insurance is not directly rated as a separate entity since it is a brand of CMFG Life Insurance Company. However, CMFG Life Insurance Company has received strong ratings from independent rating agencies such as A.M. Best, which assesses the financial strength and stability of insurance companies.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.