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TruStage Insurance Reviews: Life Insurance


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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Headquartered in Madison, Wisconsin, TruStage offers insurance products specifically geared toward credit union families.

The company offers term and whole life insurance policies, in addition to AD&D, auto, and health insurance.

TruStage provides credit union members straightforward, budget-conscious life insurance policies that also help the union build non-interest income.
 
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How is TruStage rated?

Breakdown

4.5/5
Company Stability
4.8/5
Reputation
4.0/5
Policies & Coverage

Overall Rating: 4.4 / 5 (Excellent)

TruStage, part of CUNA Mutual Group, offers term, whole, and guaranteed acceptance life insurance policies underwritten by CMFG Life Insurance Company.

With over 80 years of experience in the industry and a product that provides full coverage without the hassle of medical exams, TruStage is a reliable and convenient option for anyone seeking a reasonably priced life insurance plan for less.

Financial Strength

Key Details

Underwriter
CMFG Life Insurance Company
Marketshare
0.29%
Premiums Written 2019
$368,354,069
Standard & Poor's Financial Rating
A
Moody's Financial Rating
A2
AM Best Financial Rating
A

Company Stability - 4.5 / 5

TruStage policies are underwritten by CMFG Life Insurance Company, which has 80 years of experience in the industry and is endorsed by thousands of credit unions.

CMFG Life holds an A (Excellent) rating with A.M. Best, as well as a Moody's long-term rating of A2 and an S&P rating of A.
*The above information reflects the market share, premiums, and financial strength of the issuer of the TruStage life insurance policies: CMFG Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.43
NAIC Total Complaints 2017
10
*The NAIC complaint ratio (in this case 0.43) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
1
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
7

Reputation - 4.8 / 5

TruStage serves more than 18 million people and counts with over 80 years of experience in the life insurance industry.

The company maintains a Better Business Bureau Rating of A+. Backed by CMFG Life, the company has a very solid financial outlook compared with other institutions we evaluate.

What's more, judging by online reviews and NAIC complaint ratios, TruStage's reputation for customer service is also exemplary.

Though, you must be a credit union member to access their life insurance programs.

TruStage Policies

TruStage offers customers the following life insurance policies: Term, Whole Life, Guaranteed Acceptance/ Final Expense.

Term Life Insurance

Minimum Age
18
Maximum Age
69
Minimum Death Benefit
$5,000
Maximum Death Benefit
$300,000

Key Term Policy Features

  • Term-Permanent Conversions
  • Waiver of Premium

Policies & Coverage - 4 / 5

TruStage offers term and whole life insurance policies without medical exam requirements, just health-related questions.

The company also provides a guaranteed acceptance whole life insurance product that does not require medical questions or exams and affords instant coverage that cannot be denied due to health reasons.

Although TruStage does not offer universal life insurance policies, their plans are convenient, competitively priced, and come with a 30-day satisfaction guarantee, no questions asked.

Flexibility and Available Riders

Available Term Life Riders

  • Accidental Death Benefit Rider
  • Guaranteed Insurability Rider

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
https://www.trustage.com/
Company Phone
(800) 356-2644
Headquarters Address
5910 Mineral Point Rd, Madison, WI, 53705
Mailing Address
PO Box 61, Waverly, IA, 50677
Year Founded
1935

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Customer Comments & Reviews

Loading Reviews ...
akcfn1970
1/26/2022
I called jan13,2022 and was told my mother had a policy and it was 5000 and was good explained my mom became very I’ll with Covid pneumonia unexpectedly and she was coming home on hospice, mom came home 14 jan22 and passed away 15 jan22, called back on 19jan22 and conveniently all of a sudden her policy expired 2020, I was misinformed by their representative on a recorded line and the only people to suffer while grieving was my family. I only had enough funds in my personal account to pay for my mother to be cremated with zero services. I find this extremely disrespectful and degrading to my family, but I am well aware at the end of the day that it is my family who suffers not any of... Read More

Will R
5/11/2020
Do not believe them! sure they'll sign you up sure you can make your payments but when it comes down to it they will do everything NOT TO PAY YOU WHEN IT MATTERS. MY FATHER DIED AND THEY FOUGHT ME TOOTH AND NAIL SENT MY PAYMENTS BACK AND SAID THAT WE WERE SQUARE. (Forgive the language) DO NOT F****** TRUST THEM!

B
Basimah R
3/1/2019
I was looking for a good life insurance insurance with low premium so I found it now I am satisfied. Thanks for the low Rates

C
Candace D
5/22/2018
I am a 64 year old retired RN and believed the television ads about a $25K policy for which I could not be turned down. Today I received a letter turning me down, "After careful consideration, we are unable to provide you with coverage based on information given on the application".... What is that all about? Daigle, C Massachusetts

Z
Zeeba N
2/14/2018
Your late night TV ads do not state trustage insurance is only available to credit union members.

Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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