Trustage Life Insurance Review for 2021
TruStage life insurance offerings include term and whole life policies, as well as AD&D coverage. Although no medical exams are required, the insurance is more expensive than the national average of $26 a month.TruStage life insurance reviews reflect good customer satisfaction as well as an A rating from A.M. Best for the parent company CMFG Life Insurance Company.
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UPDATED: Jan 28, 2021
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- TruStage offers term and whole life insurance, as well as AD&D coverage.
- TruStage is mainly offered to credit union customers but anyone can purchase insurance.
- There are no medical exams required.
TruStage life insurance offerings include whole and term life insurance as well as AD&D coverage.
TruStage insurance is offered through the parent company CMFG Life Insurance Company and is easy to apply for. The policies don’t require medical exams which can be very attractive for people with health concerns.
Typically offered through credit unions, TruStage is actually available to everyone. However, the company will encourage customers to become credit union members if they are not already.
There are many life insurance companies that offer similar products, so be sure to shop around before you commit to TruStage.
Enter your ZIP code now to compare life insurance rates with your TruStage life insurance quote to get the best deal.
What is the TruStage Insurance Company?
TruStage offers insurance primarily to credit union customers. Although anyone can buy Trustage life insurance, it’s marketed mainly through credit unions, and it encourages customers to become credit union members if they are not.
TruStage insurance offerings include homeowners, rental, and auto as well as several types of life insurance. All insurance policies are offered through other insurance companies since TruStage doesn’t write any policies.
The company is a subsidiary of the CMFG Life Insurance Company, which has been in business for over 80 years.
What type of life insurance policies are offered by TruStage?
TruStage offers term and whole life insurance, including a guaranteed acceptance program. There are no medical exams required.
TruStage term life insurance policies offer death benefits starting at $5,000 and go up to $300,000. You can acquire the policy from between 18-69 years old.
The policy is renewable up to 80 years of age and is priced on the basis of age bands of five years each (25, 30, 35, etc.). When the insured reaches a new age band, the rate will rise accordingly. Changes in health do not affect rates as long as the policy remains in force.
A traditional whole life policy is also available and offers a guaranteed death benefit, cash accumulation, and level rates for the life of the policy. This is offered to ages 18-85.
There is also a guaranteed acceptance version of whole life that requires no medical questions. However, death benefits are lower.
An accidental death and dismemberment (AD&D) policy is also available. Although this is offered for free through some credit unions, it also available through TruStage at no additional cost if you have a base policy.
What is the cost of life insurance with TruStage?
TruStage life insurance quotes are available online, making it very easy to determine your cost. However, the cost for each person will vary since factors like age, gender, health issues, and occupation are used to calculate rates.
For example, a 30-year-old male will pay less than a 60-year-old male. Check out this table to see the average costs for TruStage life insurance for a 30-year-old male.
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TruStage term life insurance rates are about $42 a month using the above scenario. That’s really expensive considering the average cost of life insurance is just $26 a month.
What are the financial and customer satisfaction ratings for TruStage?
TruStage has an A+ rating with the Better Business Bureau (BBB) and a 4.8-star rating on Google with 811 reviews.
TruStage is not rated by A.M. Best but its parent company CMFG received an A rating. A.M. Best rates companies on financial stability and believes CMFG to have excellent financial stability.
TruStage life insurance reviews for customer satisfaction is also high, mainly because of the ease of applying.
There are not many reviews on the claims process, but claims can be filed by calling customer service at 1-800-779-5433, mailing in your paperwork, or sending an email to [email protected]
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What is the bottom line on TruStage?
There are pros and cons to getting life insurance with TruStage.
Pros include the ease of applying, no medical exams, and guaranteed rates. Cons are that the policies are expensive and are not written by TruStage but by a parent company.
Buying life insurance is a big step, so shop around before you settle on one company. Each company will charge different rates, so compare quotes to find the coverage you need at the best price.
Before you buy TruStage life insurance, enter your ZIP code to compare rates from the top life insurance companies.