It can be difficult to find an insurance company that suits your needs at a reasonable price. With so many companies and policies to choose from, understanding your needs and comparing life insurance providers is the best approach to narrowing down your search.
It’s a good idea to start by reading reviews of life insurance companies, like 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. offers a variety of insurance products to credit union members. It is a subsidiary of Grupo CUNA Mutual 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). However, they can help you get affordable car insurance.
TruStage life insurance prices will be examined, as well as the comparison of TruStage life insurance quotes with those offered by the best insurance companies.
Not sure if TruStage is right for you? Read on to learn more about TruStage insurance and whether TruStage affordable life insurance is a wonderful investment.
Table of Contents
What is 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 help ordinary Americans with their finances.
The insurance branch provided additional financial alternatives, such as life insurance, that were previously not available to the general public.
Although TruStage is sold through credit unions, their policies are open to anyone. Although it is not necessary to be a member of a credit union, the site encourages users to do so.
More than an insurer, TruStage Insurance Agency is an agency brand and service. The business is run as a division of CMFG Life. They underwrite their products and deliver them in collaboration with other insurance providers. It does not subscribe directly.
What are the Benefits of TruStage Insurance Reviews?
When you read all the different reviews, it’s clear that people are happy with this company. Its assets currently protect more than twenty million people.
When your health begins to decline, some life insurance companies will drop your coverage.
However, with TruStage, this is not the case. They will not cancel your coverage due to factors such as age or illness, as long as 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 might be the right choice for you.
They provide exceptional coverage at a reasonable price for most people. However, it is worth noting that TruStage insurance is known to be more expensive than other life insurance providers.
What are TruStage Life Insurance Plans?
TruStage Life Insurance offers four life insurance plans that are designed to help people. These plans include:
TruStage offers four types of life insurance coverage:
- term life
- The 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 member credit union, you may be eligible for a higher level of coverage, but you can apply online in minutes by answering a short medical questionnaire. As soon as your first premium payment is received, your coverage will begin.
TruStage 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 additional medical questions or undergo additional testing. You can get coverage up to age 80.
TruStage’s term life insurance policy differs from other term policies in that it doesn’t offer fixed premiums, meaning you won’t pay the same premium for the life of your policy.
2. Whole life insurance
Whole life insurance is available on TruStage in two forms: Enhanced Issue and Assured Acceptance.
Simplified emission whole life
TruStage whole life insurance policies, like your term life insurance, allow you to purchase $5,000 to $100,000 coverage 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, medical tests are also not required. You just need to complete a short online application and be approved within minutes.
Coverage doesn’t start immediately, like it would with a term life policy, but 30 days after you make your first payment.
3. Guaranteed Lifetime Acceptance
TruStage also offers a guaranteed issue whole life insurance policy, which means you won’t be denied coverage because of a medical condition.
This policy is available to people ages 45 to 80, covers up to $20,000 in insurance coverage, and can 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 accidental death and dismemberment coverage is only available to members who qualify through associated credit unions.
If you qualify, you can get free AD&D coverage, which will protect your family if you are seriously injured or killed in a covered accident.
Additional Coverage (family plans), Increased Benefits (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 by phone by calling 866-579-3170.
To apply online, follow these steps:
- Under Life, select the type of policy you want from the dropdown menu.
- Click Get Price after entering your zip code, date of birth, and gender.
- Choose a quote from a list, then click Apply Online Now.
- To continue with 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 let them review your prescription data.
After that, it will submit your name and Social Security number.
Finally, enter your payment details, study the policy, accept and sign the electronic documents online.
Does TruStage life insurance have riders?
No, the TruStage Policies do not have additional clauses. Although some insurance companies offer insurance riders, which are optional coverage alternatives that provide additional protection, TruStage does not.
What is the cancellation policy for TruStage life insurance?
Very simple!
Basically, TruStage offers a free 30-day trial period, during which you can unconditionally cancel your coverage and receive a full refund.
You can then cancel at any time by alerting the company that you are pausing or canceling your payments.
If you have 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 use and medical history.
Because TruStage does not require medical exams as part of your subscription process, your costs will be higher than with other companies.
The company priced insurance at $100,000 for a man and woman in their 30s and 40s to give an estimate of cost.
What are the TruStage life insurance rates?
With online pricing and a rate chart for your term life policy, TruStage makes it easy to estimate 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 out to $42.50 per month, which is the same rate shown in the table for that age group.
This is a somewhat expensive quote. Since coverage is a simple matter that does not require a medical exam.
It’s also worth looking at the graph to see how the cost of coverage increases over time. This policy will cost the same person $114.50 at age 50, after 20 years of coverage.
Keep in mind that it’s crucial to consider how long you want your coverage to last. Consider how much you will pay over the life of the policy.
And if you want coverage that continues until you retire, whole life insurance will probably be less expensive in the long run.
What is the procedure for filing TruStage claims?
You can file TruStage life insurance claims by calling the toll-free number Monday through Friday from 7:00 am to 7:00 pm You can get the toll-free number on their website under the claims FAQ section.
Alternatively, you can mail them using your email address.
You may be interested to know that CUNA Mutual Group handles TruStage claims. One component of the process involves the parent company and the subscriber’s CMFG.
TruStage does not administer policies or handle claims as a consumer-facing agency or brand.
The insured can expect payment to be paid by check within one to three business days after receipt of all documentation.
If the information is correct, that’s a fast response time; however, contentious claims will take longer to review.
What are the advantages of TruStage life insurance?
There are features that set Trustage Life insurance apart from any other life insurance company. These features are presented as the advantages of the life insurance company.
1. Does not require medical examinations
You don’t need a medical exam to buy TruStage life insurance unlike most life insurance companies. In most cases, it is necessary to answer some health questions on the Internet.
2. Online Application
Getting a quote and buying 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 to a whole life policy at any time. You can do this during the effective coverage period if you decide you need permanent coverage instead.
4. You may be eligible for AD&D coverage
Although TruStage doesn’t sell accidental death and dismemberment coverage online, it does offer it to qualified members of some credit unions.
Are there cons?
Premiums increase every five years
TruStage term life insurance is renewable until you turn 80, but premiums go up 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 coverage may not be enough to fully protect your loved ones, depending on your financial condition and needs.
no passenger policy
TruStage does not provide riders for whole life or term life insurance. You’ll have to look elsewhere if you want a child rider, disability coverage, or even an accelerated death benefit.
No universal life insurance products
If you are looking for any type of universal life insurance coverage, TruStage is not the place to be.
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 larger Grupo Mutual CUNA, 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 is an insurance agency that works with other insurance companies to provide goods such as vehicles, property, and life insurance.
To quote and purchase insurance products, credit union members can start the process online at the TruStage website or in person at one of the credit union’s local branches.
conclusion
TruStage offers several useful life insurance benefits, but its restricted policy options and expensive term life insurance policy may not be the right choice for you.
Because TruStage does not offer fixed premiums, term life insurance coverage will almost certainly be more expensive than equivalent insurance from the competition.
However, their whole life and guaranteed issue plans are reasonable, and if you’re a credit union member looking for quick coverage without a medical exam, they might be the right choice for you.
