TruStage Life Insurance Review

Man Wondering About TruStage Life Insurance Review

Our TruStage Life Insurance review will focus on the company’s background, the life insurance products, and their pros and cons. We will also reveal some information you’re probably not aware before buying a policy (like overpaying for your policy or your policy ending before you pass away). We will help you make the best decision for yourself and your loved ones when shopping for burial insurance.

If you’re here because you have questions about a life insurance policy from TruStage, or you received a letter about their life insurance for credit union members, keep reading to learn more about them. We will give you important information on how their insurance products work, so you can determine if they are right for you.

It’s important to take the time to read the fine print before deciding to buy a policy from TruStage as there are restrictions and limitations to their plans. It’s important to know what you are getting yourself into before making a long term purchase. We are here to guide you in making an informed decision.

DISCLAIMER: Funeral Funds is not affiliated with TruStage Life Insurance. This is only a review to help our online visitors to make a well-informed decision before purchasing a life insurance policy.











TruStage Life insurance is a subsidiary of CMFG (Credit Union National Association Mutual Financial Group) Life Insurance. Their life insurance products are issued by CMFG which provides insurance and financial products to credit unions members around the U.S.

However, and they have expanded their offerings to include anyone interested in a life insurance policy. Today, credit union membership is not required.

The company was formerly known as CUNA (Credit Union National Association) Mutual Company which was founded in 1935 when credit unions were formed to help average Americans with finances.

In February 2012, the company changed its name to CMFG. It is headquartered in Madison, Wisconsin with additional branch offices in Waverly, Iowa, and Fort Worth, Texas.

TruStage offers term and whole life insurance policies as well as AD&D, health, and auto insurance. CMFG underwrites life insurance and AD&D.

They also provide financial products such as bonds, commercial loans, mortgage loans, and asset protection services.

Auto insurance is offered through Liberty Mutual and Esurance, while home insurance through Liberty Mutual. The company also partners with GoHealth to provide health insurance.


Homepage URL:
Year Founded:  1935
Company Phone:  1-855-833-5798
Corporate Headquarters:  5910 Mineral Point Road, Madison WI 53705
Mailing Address   PO Box 3148 Milwaukee, WI 53201-3148
Office Hours: Monday – Friday, 7 am – 9 pm CT. Saturday, 8am – 4pm CT

FINANCIAL RATINGS: CMFG Life Insurance Company

TruStage Life Insurance has achieved an “A” rating or excellent with A.M. Best, a nationally recognized statistical rating organization for insurance companies in the United States.

They offer ratings depending on the company’s ability to meet financial obligations to policyholders. 

There are 16 total ratings ranging from Superior to Suspended.

Better Business Bureau: A+
Standard and Poor’s: A
Moody’s: A2

According to NAIC (National Association of Insurance Commissioners), The TruStage Life insurance complaint rate is only 0.43 where the median complaint ratio of all insurance companies is a 1. They have lower than average complaints written in a calendar year.

Financial rating is an important factor in evaluating the insurer’s ability to remain in business while paying claims. But, it has nothing to do with the quality of the products and services they provide to their clients. It just demonstrates their financial stability from having more assets than liabilities.


TruStage offers term life insurance and whole life insurance. All of the policies are simplified issue program with no medical exams required only health-related questions.

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


TruStage Life Insurance Review: Term Life Insurance

One of the best things about a TruStage Term Life Insurance policy is the ability to get a policy without a medical exam.

You can easily obtain a death benefit amount starting at $5,000 and going up to $300,000. Term life is available to people between 18 and 69. Apply and get an instant decision online. Once your application is approved and make your first payment, you’re fully covered.


  • No medical exam required
  • Easy online application process just answer a few health questions
  • Instant approval
  • Available in lower death benefit amounts starting from $5,000


  • The maximum death benefit is only $300,000
  • No available policy riders
  • Term life will expire at age 80 or before
  • Premiums increase every 5 years to age 75
  • TruStage term life insurance policy is more expensive compared to other companies

What’s wrong with TruStage Term Life?

TruStage advertises that their term life rate is based on age and gender. The premium is only level for the first five years and increases every five years as the policyholder reaches new age bands 30, 35, 45, 50, 55, 60, 65, 70, and 75.

The premium becomes expensive as time goes on, especially compared to many top insurance companies offer level term policy plans.

TruStage term plan terminates at age 80. If you outlive your term, you will not have any coverage. Additionally, there is no conversion option available at the end of the term.

Health Questions

TruStage Term life and Whole life have the same set of health questions.

There are only two basic questions to answer:

  1. Are you unable to work or perform normal activities due to a chronic illness or permanent injury?
  2. Have you, within the previous five years, been treated for or diagnosed by a medical professional with the following:

Having a yes answer may impact your ability to qualify for coverage.

There is a five-year look-back period on health history. You may not qualify for coverage if you’ve suffered from any of the illness as mentioned above in the last five years. Most other life insurance companies only have a two-year look-back period on illnesses.


TruStage Life Insurance Review: Whole Life Insurance

Whole life insurance with TruStage is a simplified issue, and you don’t have to take a medical exam or invasive tests as part of the underwriting process.

You can qualify by just answering a few simple questions. Approval is based on answers to the health questions and information obtained from the Medical Information Bureau and prescription database.

TruStage whole life insurance features permanent protection with a guaranteed death benefit. The issue age is between 18 and 85. The death benefit ranges from $1,000 up to $100,000.

It also provides a cash accumulation component that grows on a tax-deferred basis which you can get if you cancel your policy or take a loan. Premiums never go up, and coverage never cancels due to age or declining health.


  • Easy application
  • Quick approval
  • No exam only a few health questions
  • Available from ages 18 to 85
  • Permanent coverage – policy does not cancel as long as you keep paying the premiums
  • Low available death benefits – as low as $1,000 of coverage
  • Good for final expenses or burial coverage


  • No available policy riders
  • Cannot purchase coverage greater than $100,000
  • TruStage whole life products are often more expensive compared to other companies

There are fewer issues with TruStage whole life insurance compared with their term plan. It is traditional whole life insurance without price increases.

What’s wrong with TruStage Whole Life Insurance?

This plan has the same set of health questions as term life. It has a five-year look-back period on health history, making it difficult applicants with health issues to qualify for coverage.


TruStage Life Insurance Review: Guaranteed Acceptance Whole Life Insurance

TruStage also offers guaranteed acceptance whole life insurance with no health questions and no medical exam. The death benefit amount is lower between $1,000 and $25,000 which is designed to cover final expenses.

You can qualify for this plan if you are between 45 and 80 years old.

One great thing about TruStage guaranteed acceptance plan is that you cannot be turned down because of your medical condition. The premium is level or will not increase for the duration of the policy as long as you pay on time.


  • Cannot be denied insurance coverage due to health issues
  • No health questions or medical exam required
  • Available up to age 80
  • Policies start at $1,000
  • Premiums never increase-rates is permanently locked at your current age
  • 30-day free look


  • Cannot purchase a policy greater than $25,000
  • No coverage if you die from a natural cause in the first two years – full death benefit only after year 2
  • Expensive compared to other companies offering guaranteed acceptance policy

What’s wrong with TruStage Guaranteed Acceptance Whole Life?

The only way TruStage can offer a guaranteed acceptance plan without asking any health questions is by limiting the death benefit up to $25,000 only and placing a two-year waiting period.

If your death is accidental, the company will pay the full death benefit.

If you pass away for any reason other than accidental during the two-year waiting period, the death benefit payout is all the premiums you paid plus 10% interest. After the second year, 100% of the death benefit will be paid to your beneficiary regardless of how your death occurs.

TruStage guaranteed acceptance whole life is expensive compared with other companies offering this type of policy. There are other companies, price-wise, if you need guaranteed acceptance policy.

This type of insurance coverage should NEVER be your first choice when buying life insurance. You should only consider this plan if you have a severe medical condition and you cannot qualify for any other plan.


TruStage Life Insurance Review: Advantages

They offer no medical exam policies

TruStage offer instant issue policies without medical exam which reduce risk and underwriting time. The application process is simple and straightforward.

You’ll get approval in a matter of minutes compared with companies offering traditional insurance with a medical exam which takes several weeks to get approved.

Because TruStage life insurance products offer quick decision, it is more favorable to those who need life insurance coverage fast without the headache of medical exam and long underwriting time.

IMPORTANT: With the above mentioned facts, all of the other companies we work with at Funeral Funds offer no-medical exam policies, with same day approval, at rates that are often significantly lower than TruStage pricing.

TruStage is underwritten with CMFG, a mutual life insurance company

Mutual life insurance companies offer substantial benefits to their clients. Since the policyholders own the company and not the shareholders, the administration is more clients focused, and the policyholders have a voice regarding the management of the business.

Instant Quote

You can use the TruStage website to know more information on the company and receive an instant quote completely free of charge. Those who are interested in getting more information about the monthly rates for different plans can use the “Get a Quote” feature and provide the information required to see how much each plan cost.


TruStage Life Insurance Review: Disadvantages

Overpriced Term Life Insurance

TruStage makes it easy for you to determine your premium with their online quoting and rate chart which is available on their website.

We ran a quote for a 67-year-old female for term life insurance. Our rate quote came back at 53.10 a month for a $20,000 death benefit amount. This matches the rate shown in the rate chart for that age band.

This is a pretty expensive rate, considering that the coverage is a no medical exam policy. It is also important to see the chart and notice that the premium increases in price over time.

TruSTage life insurance products can be up to 38% more expensive compared to other life insurance products on the market. Competing term life insurance policies are cheaper and they provide a fixed premium for the life of the policy.

TruStage Term Life Rates go up every five years

Premium goes up every five years based on your attained age. You can only notice this price adjustment if you look closely at the fine print.

Not only TruStage term life insurance overpriced, but it also continues to increase in cost as you get older. Other companies like offer a fixed premium for the duration of the policy.

No ability to compare prices

TruStage does not underwrite policies, and it is only a direct to consumer sales portal for CMGF Life. They sell directly to the consumer via their website or telephone. They do not let you compare prices from other companies!

It is always advisable to use independent life insurance agencies like Funeral Funds when shopping for life insurance to see prices from different companies. We can also give you the best recommendation based on your current health and needs.

2 Year exclusion on Guaranteed Acceptance Life Insurance

TruStage doesn’t advertise its 2-year coverage exclusion on their guaranteed acceptance for a natural cause of death. This is called graded benefits where there is a two year waiting period before the full death benefit kicks in.

During the first two years, if you pass away from an accident, your beneficiary will receive 100% death benefit, but if you die from natural causes, your premiums will be fully refunded plus interest.

Your beneficiary will only receive the 100% death benefit if you die after the waiting period.


Should I respond from a letter sent by TruStage?

TruStage works in partnership with different participating credit unions. If you’re a member of a credit union, your information is shared with CUNA Mutual, and you have no choice but to enter their marketing process. You may receive direct mails from them.

The company may employ the use of credit union logo and address on their sales envelops. Credit union members may feel like this is a predatory tactic. They use these types of letters to get you interested in their products.

If you receive a letter from TruStage, we recommend you do price shopping with an independent life insurance agency before buying a policy.

The most important thing to consider when buying life insurance is how it’s going to benefit you and your family the most. Make sure you weigh all your options before making the final decision.


Trying to find a policy with any health issues needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.

If you have any health history, let us help you; we will work with you side by side to find a plan that fits your needs.

We will work with you every step of the way to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you.

We will shop your case to different insurance carriers and get you the best price.

We work with many A+ rated insurance carriers that specialized in covering high-risk clients like you. We will search for all those companies to get the best rate. We will match you up with the best burial insurance company that gives the best rate.

We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for TruStage funeral insurance, or TruStage burial insurance, or TruStage life insurance, we can help.

Fill out our quote form on this page or call us at (888) 862-9456 and we can give you an accurate quote.


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