TruStage Life Insurance has existed since 1935, but how much do you know about the company? At Final Expense Benefits, we provide comprehensive reviews of the top life insurance companies so you can make the best decision for you and your loved ones.
We only work with the best insurance companies to ensure you and your loved ones receive the right coverage. Call our expert agents Monday through Friday, 9 A.M. – 5 P.M. ET at (866) 786-0725, or check out our free online quoting tool to receive an estimate.
If you’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more.
The Origin Of Trustage Life Insurance
TruStage Financial Group, once known as CUNA Mutual Insurance Society, was founded in 1935 with the goal of offering financial protection to Americans. The company grew quickly after World War II and expanded into new markets.
In 1983, TruStage Financial Group began selling insurance products and now serves over 30 million customers. In 2023, TruStage rebranded to offer additional services and products to cover the needs of their customers.
Coverage Options With Trustage Life Insurance
TruStage Life Insurance offers various types of life insurance: term, whole life, guaranteed acceptance final expense insurance, accidental death and dismemberment insurance, home insurance and auto insurance.
1
Trustage Whole Life Insurance
TruStage Whole Life insurance is available to anyone from age 18 to 85 and the coverage amount will vary depending on age:
- $5,000 to $100,000 for ages 18 to 70
- $5,000 to $50,000 for ages 71 to 75
- $5,000 to $25,000 for ages 76 to 85
While you will be required to answer medical questions, you do not need to take a medical exam and there is no waiting period. This policy will build cash value and the premiums will never increase, unlike TruStage’s whole life policy.
2
TruStage Guaranteed Acceptance Final Expense Life Insurance
The TruStage guaranteed acceptance final expense insurance policy is available to seniors aged 45 to 80. The coverage ranges from $2,000 to $20,000, coverage will never decrease, and premiums will never increase.
Acceptance is guaranteed no matter what your health status may be and this plan will build cash value because it is a whole life insurance policy. The only downside is that this policy has a two-year waiting period. If you pass away within the first two years of the policy, your beneficiary will not receive the full death benefit. Your premiums will be refunded if death occurs due to illness during the waiting period.
3
TruStage Term Life Insurance
TruStage term life insurance is available to anyone 18 to 69 and the coverage ranges from $5,000 to $300,000. You do not need to take a medical exam to qualify for this insurance, but you must answer health questions to get approved.
The downside to this policy option is that the cost increases every five years and terminates automatically at age 80. If you purchase a TruStage term life policy at the maximum age of 69, you will only have the policy for up to 11 years until it automatically ends. If you were to purchase this coverage and outlive the policy, it becomes extremely expensive or impossible to pick up a new policy.
4
Accidental Death and Dismemberment Insurance
TruStage accidental death and dismemberment insurance pays out if the policyholder passes due to an accident or if they were dismembered in an accident. This type of insurance is not a substitute for life insurance but can supplement a life insurance policy.
If you supplement your life insurance with accidental death and dismemberment insurance, the beneficiary will receive a larger payout if you were to die an accidental death.
Comparing $10,000 Burial Insurance Companies
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$50 |
$40 |
$70 |
$56 |
|
|
$31 |
$26 |
$43 |
$35 |
$71 |
$53 |
|
|
$31 |
$24 |
$44 |
$33 |
$75 |
$53 |
|
|
$34 |
$29 |
$45 |
$35 |
$79 |
$59 |
|
|
$33 |
$26 |
$48 |
$36 |
$82 |
$58 |
|
|
$55 |
$44 |
$72 |
$55 |
$122 |
$85 |
These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.
If you’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more.
TruStage Life Insurance Ratings For Credit and Customer Service Satisfaction
Better Business Bureau (BBB)
TruStage has received an A+ from the Better Business Bureau. However, because TruStage is not accredited by the BBB, it is best to take this rating with a grain of salt.
An A+ signifies that a company has received the highest rating regarding customer satisfaction, ethical business practices, and transparency.
TrustPilot
Trustpilot allows consumers to leave genuine feedback about their experience at various businesses. The website lets companies engage with customers to rectify problems and assist customers with any questions or issues.
The score on TrustPilot is solely based on customer reviews. TruStage currently has a score of 4.8/5, meaning that most consumers have had excellent service and an overall positive experience.
NAIC Complaint Index
The NAIC complaint index is a measurement of how many complaints a company gets in comparison to competitors in the industry. TruStage is listed under parent company CMFG life Insurance Company (CMFG).
CMFG has a 0.51 complaint index, demonstrating that the company receives about half of the complaints of competitors in the same industry.
Pros and Cons of TruStage Life Insurance
Pros
- No Medical Exam Required
None of the Trustage life insurance products require you to undergo a medical exam.
- Good online application
The online process on their website demonstrates a lot of options and provides you with an idea of what you need without a phone call.
- Whole life policy builds cash value
A portion of your premiums will compound as a savings component that you can potentially access while alive.
- Premiums never increase for whole life insurance and guaranteed issue life insurance
Your premium is locked in for whole life and guaranteed life insurance and will never increase.
- Coverage starts at $2,000 for whole life insurance
- Guaranteed acceptance coverage available regardless of health status
A great option for seniors who are in poor health and worried they may not qualify if they are required to take a medical exam.
Cons
- Limited coverage maximum
The maximum coverage for term life insurance caps at $300,000 and guaranteed acceptance coverage caps at $20,000, which may not be enough for some individuals.
- Expensive compared to other life insurance companies
The monthly premium relative to the coverage amount is disproportional to say the least. You can almost guarantee you’re going to be paying more than someone else under a different insurance company.
- Premiums increase every five years for term life insurance
Term life insurance premiums increase every five years based on the insured’s age at the time of renewal.
- Waiting periods for certain policies
There is a two-year waiting period on guaranteed acceptance policy
- Term life insurance automatically terminates at age 80
If you outlive the policy, it will be either impossible to find a new policy or expensive.
TruStage Life Insurance Reviews
Joan B.
California, USA
1/5
BEWARE! AVOID AT ALL COSTS. They take your money faster than you can blink but then when you need assistance to cancel a policy, no one knows how to do it! Months and months go by with no one knowing what to do. I’m about to take legal action. THEY HAVE NO CUSTOMER SERVICE AND NO IDEA HOW TO RUN A COMPANY!
Now TruStage reaches out saying they try to provide excellent service! HA! They don’t even know how to reply properly to my personal email and hide behind TrustPilot! BUYER BEWARE!
Kevin D.
USA
4/5
I am very pleased with the amount of coverage my family has for a great premium monthly fee. I also like how quick customer service is to attend to any changes or issues on the policy.
LaRaine C.
USA
2/5
I received a letter through the mail from TruStage offering me a “deal” because I am a member of Utah First Credit Union. On the letter it stated as low as $13 a month for $15,000. When I called, the price went up to $80 a month. I am retired and on a fixed income. How do they think that a single elderly lady can afford $80 a month? It is ridiculous. The salesman was very rude to me.
Our Review and Final Thoughts
While TruStage has mostly positive reviews, the premiums are higher than other insurance providers. A 4.8/5 star rating from TrustPilot indicates that customers are satisfied with their policy, which indicates that TruStage has excellent customer service.
TruStage also offers many different policies and they do not require medical exams for many of their offerings. This may be a great option if you are a senior in poor health who is looking for coverage. However, if you choose to purchase a term life policy from TruStage the premiums will increase every five years, and rates are based on your current age at the time of renewal.
It is also important to note that depending on the policy you choose you may encounter a two-year waiting period before your coverage can begin. Additionally, if you are looking to purchase a term life policy, it will automatically terminate at age 80. If you outlive the policy it will not only be expensive to get a new policy, but it will be almost impossible to find a provider who will provide you with a policy after a certain age.
TruStage insurance rates are not as competitive as the top-rated insurance providers that we work with, so while they may provide a policy you are interested in, you can find the coverage you need at a much lower price.
You have plenty of options available with better pricing and great customer reviews.
Final Expense Benefits only works with the best carriers who will provide you and your loved ones with the right coverage.
We partner with over 20 carriers, including:
Call our talented agents Monday through Friday, 9 A.M. – 5 P.M. ET at (866) 786-0725, or check out our free online quoting tool to receive an estimate.
Frequently Asked Questions
Is Trustage Life Insurance Legit?
Yes, TruStage Life Insurance is legitimate. TruStage has over 30 million policyholders and has been in business for years.
Is TruStage Life Insurance Good?
TruStage may have a policy that fits your needs, but the company premiums are much higher than other providers.
How are TruStage Life Insurance Reviews?
Customer reviews are fairly positive. The company has a 4.8/5 star rating on TrustPilot and customers seem generally happy with the service they have received.
