Trustage Life Insurance Reviews 2023: Should you invest your money?

It might be tough to find an insurance company that suits your demands at a reasonable price. With so many firms and policies to select from, understanding your needs and comparing life insurance providers is the best approach to limit down your search.

It’s a good idea to start by reading reviews of life insurance firms, such as this TruStage insurance review. It gives you the information you need to make an informed decision about your life insurance needs.

TruStage Financial Group, Inc. provides a variety of insurance products to credit union members. It is a subsidiary of the CUNA Mutual Group and offers a wide range of personal insurance products.

TruStage Insurance specializes in life insurance (term life insurance, whole life insurance, guaranteed acceptance, whole life insurance, and AD&D). They can, however, help you get affordable vehicle insurance.

TruStage life insurance prices will be examined, as well as how TruStage life insurance quotes compare to those offered by the best insurance firms.

Are you unsure whether TruStage is correct for you? Continue reading to learn more about TruStage Insurance and whether affordable TruStage life insurance is a wonderful investment.

What is the TruStage Insurance Company?

TruStage is the brand name of CUNA Mutual Insurance’s credit union-focused insurance program. CUNA was founded in 1935 when credit unions were first established. They intended to assist ordinary Americans with their finances.

The insurance branch provided additional financial alternatives, such as life insurance, that were previously unavailable to the general public.

Although TruStage is sold through credit unions, its policies are open to anyone. Although membership in a credit union is not necessary, the site encourages users to do so.

Rather than being an insurer, TruStage Insurance Agency is a brand and an agency service. The business is run as a division of CMFG Life. They underwrite its products and deliver them in collaboration with other insurance providers. It does not directly underwrite.

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What are the Benefits of TruStage Insurance reviews?

When you read through all the different reviews, it’s clear that people are happy with this firm. Their goods currently protected more than twenty million people.

When your health begins to worsen, some life insurance companies will cancel your coverage.

With TruStage, however, this is not the case. They will not cancel your coverage because of things like age or illness as long as your premiums are paid.

Customers also appreciate how simple it is to obtain coverage with this insurance provider. They claim that applying for coverage is a simple process.

So, if you’re looking for a highly rated life insurance company, TruStage could be the right fit.

They provide outstanding coverage at a reasonable price for most people. It’s worth noting, though, that TruStage insurance is recognized for being more expensive than other life insurance providers.

What are the TruStage Life Insurance Plans?

TruStage Life Insurance offers four life insurance plans that are designed to help people. These plans include:

There are four types of life insurance coverage offered by TruStage:

  • Term life
  • Whole life
  • Guaranteed acceptance
  • Accidental death and dismemberment

1. Term Life Insurance

TruStage offers simplified issue term life insurance with coverage options ranging from $5,000 to $100,000.

If you apply directly through a partner credit union, you may be eligible for a larger coverage level, but you can apply online in minutes by answering a short medical questionnaire. As soon as your first premium payment is received, your coverage begins.

TruStage’s term life insurance policies include a term conversion option, which allows you to convert your term policy to a whole life insurance policy without having to answer any further medical questions or undergo any additional tests. You can obtain coverage until you’re 80 years old.

TruStage’s term life insurance policy differs from other term policies in that it does not offer flat premiums, which means you will not pay the same premium for the duration of your policy.

2. Whole Life Insurance

Whole life insurance is available from TruStage in two forms: streamlined issue and assured acceptance.

Simplified Issue Whole Life

TruStage’s whole life insurance policies, like its term life insurance, allow you to buy coverage from $5,000 to $100,000 online.

The cash value of a whole life policy grows over time, allowing you to borrow against it in the future.

In almost all circumstances, no medical exams are also required. You only need to complete a brief online application and receive approval in a matter of minutes.

Coverage does not begin immediately, as it would with a term life policy, but rather 30 days after the first payment is made.

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3. Guaranteed Whole Life Acceptance

TruStage also offers a guaranteed issue whole life insurance policy, which means you won’t be turned down for coverage due to a medical condition.

This policy is available to individuals aged 45 to 80, covers up to $20,000 in insurance coverage, and may be obtained online with a simple application. As soon as your premiums are received, your coverage begins.

4. Death and dismemberment as a result of an accident

TruStage’s accidental death and dismemberment coverage are only available to qualifying members through partner credit unions.

If you qualify, you can get free AD&D coverage, which will protect your family if you are gravely injured or killed in a covered accident.

Additional Coverage (family plans), Increasing Benefit (your additional coverage limit increases by 5% each year for up to ten years), and Hospital Coverage are all included in this policy.

How can I get a TruStage Life Insurance Quote?

A TruStage policy can be applied online or over the phone by contacting 866-579-3170.

To apply online, follow these steps:

  • Under Life, select the type of policy you want from the dropdown menu.
  • Click Get Pricing after entering your ZIP code, date of birth, and gender.
  • Choose a quote from a list and then click Apply Online Now.
  • To proceed to the health questions, select up to four recipients and click Next.

Then, answer a few health questions, agree to the electronic delivery terms and privacy notice, and allow them to review your prescription data.

Following that, you will submit your name and Social Security number.

Finally, enter your payment details, study the policy, agree, and sign the e-documents online.

Does TruStage Life Insurance Have Riders?

No, TruStage’s Policies do not have riders. Although some insurance companies offer insurance riders, which are optional coverage alternatives that give additional protection, TruStage doesn’t have.

What is the Cancellation Policy for TruStage Life Insurance Like?

Very simple!

Basically, TruStage provides a 30-day free-look period, during which you can cancel your coverage with no strings attached and receive a full refund.

Afterward, you can cancel at any time by alerting the firm that you’re pausing or canceling your payments.

If you have a whole life insurance, you must complete a surrender form.

How much does TruStage Life Insurance cost?

There are numerous factors that go into determining the cost of life insurance, including your location, age, gender, cigarette usage, and medical history.

Because TruStage does not require medical exams as part of their underwriting process, costs will be higher than with other companies.

The company priced a $100,000 insurance for a 30- and 40-year-old man and woman to give an estimate of the cost.

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What are the Rates for TruStage Life Insurance?

With online pricing and a rate chart for the term life policy, TruStage makes it simple to figure out how much your coverage will cost.

The insurance company has a term life insurance quote for a 30-year-old man. Their rate quote for $100,000 in coverage came back at $42.50 per month, which is the same as the rate displayed in the chart for that age group.

This is a somewhat pricey quote. Given that the coverage is a straightforward matter requiring no medical examination.

It’s also worth looking at the graph to observe how the cost of coverage rises over time. This policy will cost the same person $114.50 at the age of 50, following 20 years of coverage.

Note, it’s crucial to consider how long you want your coverage to last. Consider how much you’ll pay throughout the course of the policy’s duration.

And if you want coverage that will continue until you retire, whole life insurance will probably be less expensive in the long run.

What is the Procedure for Submitting TruStage Claims?

You can file TruStage Life Insurance Claims by contacting the toll-free number Monday through Friday from 7:00 a.m. to 7:00 p.m. You can get the toll-free number on their website under the claims FAQ section.

Alternatively, you can mail them using their email address.

It might interest you to know that CUNA Mutual Group is in charge of TruStage claims. A component of the process involves the parent business and the underwriter’s CMFG.

TruStage does not administer policies or handle claims as an agency or a consumer-facing brand.

The insured can expect the payment to be paid by cheque within one to three business days after all the documentation is received.

If the information is correct, that is a rapid turnaround time; nevertheless, disputable assertions will take longer to review.

What are the Pros of TruStage Life Insurance?

There are features that distinguish Trustage Life insurance from every other life insurance company. These features pose as the pros of the life insurance company.

1. Doesn’t Require medical exams

You don’t need medical exam to buy TruStage life insurance unlike most life insurance company. In most cases, answering a few health questions on the internet is necessary.

2. Online Application

Getting a quote and purchasing an insurance online takes most applicants less than 10 minutes. Once you receive the first premiums, coverage begins.

3. Flexible Term insurance contracts

You can convert your term life insurance into a whole life policy at any moment. You can do this throughout the effective coverage period if you decide you need permanent coverage instead.

4. You can be eligible for AD&D coverage

Though TruStage does not sell accidental death and dismemberment coverage online, it does offer it to qualifying members of some credit unions.

Read Also: What Is Property and Casualty Insurance?

Are there Cons?

Premiums rise every five years

TruStage term life insurance is renewable until you reach the age of 80, but premiums rise each time you enter a new five-year band. You can only lock in your price for up to five years at a time with this method.

Low coverage limits

Most TruStage policies have a maximum coverage limit of $100,000. This may not be enough coverage to fully safeguard your loved ones, depending on your financial condition and their needs.

No Rider’s Policy

TruStage does not provide policy riders for a term or whole life insurance. You’ll have to search elsewhere if you want a kid rider, disability coverage, or even an accelerated death benefit.

No universal life insurance products

If you’re looking for any type of universal life insurance coverage, TruStage isn’t the place to go.

Why TruStage Insurance?

TruStage Insurance is a convenient option for credit union members who want to combine their banking and insurance needs.

It can offer even more financial services to consumers who bank with credit unions because it is part of the bigger CUNA Mutual Group, which provides financial services to credit unions.

TruStage, on the other hand, is unique in that it does not underwrite or sell its own insurance plans.

Instead, it’s an insurance agency that works with other insurance firms to provide goods like vehicles, property, and life insurance.

To quote and purchase insurance products, credit union members can start the process online at TruStage’s website or in person at one of the credit union’s local branches.

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TruStage offers several useful life insurance benefits, but their restricted policy options and pricey term life insurance policy may not be the ideal fit for you.

Because TruStage does not offer flat premiums, the term life insurance coverage will almost certainly be more expensive than equivalent insurance from competitors.

However, Its whole life and guaranteed issue plans are reasonable, and if you are a credit union member searching for speedy coverage without a medical exam, they might be the ideal option for you.



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