Planning For Mediocrity With Trustage Life Insurance?

Last Updated May 25, 2024

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Trustage Life Insurance, is an insurance provider with a tremendous amount of coverage options, but are they truly a jack of all trades & master of none?

Trustage Life Insurance’s first impression is really impressive, but where’s the substance?

Read on to find out. 

Origin Of Trustage Life Insurance

CUNA, otherwise known as the “Credit Union National Association”, is the main underwriter of Trustage and is the reason we have access to trustage life insurance products today. Founded in 1935, the purpose of CUNA at the time was to provide security to those affected by the credit union movement during the great depression. Their efforts were so successful at the time, that after the war was over, CUNA began to grow rapidly and began to expand nationally across the US. CUNA didn’t actually employ insurance providers until 1983, to where they now serve over 30 million customers mainly through their insurance provider, Trustage Life Insurance.

Trustage life insurance was branded and trademarked in 2010, where it waited for three years before being used commercially for CUNA and their subsidiaries. In 2017, Trustage life insurance administered their first billion in coverage during the 2017 fiscal year, wherein it exceeded 6 billion the following year in 2018. In 2022, Trustage Life Insurance currently has over 20 billion in assets, and over 300 million in yearly net income. They host over 3,000 employees, and they are located in Madison, Wisconsin. They serve over 20 million customers and that number continues to grow annually.

Notable Developments

1935: CUNA (trustage parent company) founded in the midst of the great depression to serve those affected by the credit union strike. 

1982: CUNA launched the member direct program, a direct response meant to offer individual life and health insurance for those in need. 

1983: CUNA begins to sell life insurance products for the first time.

2010: Trustage life insurance is branded and trademarked. 

2013: Trustage life insurance is first used commercially to sell insurance products.

Coverage Options With Trustage Life Insurance

Trustage Whole Life Insurance

Whole Life Insurance, or also known as traditional life insurance, is a permanent form of life insurance that contains multiple forms. The most common form of Whole Life Insurance involves a fixed premium as well as lifetime coverage in which payout will be received so long as premiums are paid.

Whole Life Insurance’s payout contains a cash value that may be grown over time. In most cases, whole life insurance does not require you to fill out a questionnaire or undergo a medical exam. Most of the time, open care final expense plans applies as a guaranteed whole life policy.

Trustage Final Expense Insurance

Final expense insurance is the type of insurance that’s in place to cover the funeral costs after your passing. This is the type of coverage that you can apply for, and once you’re approved, your family will be entitled to the payout immediately, no matter how early or late your passing might be.

While final expense coverage is generally used to cover funeral/burial costs, one may use the funds in any way desired. In this way, some brokers claim that there is essentially no difference between final expense insurance and another regular Whole Life Insurance Policy. In a way, this is true, as either way you’re relieving any potential financial burdens regardless of your coverage.

Final expense coverage usually exists as a simplified issue plan, meaning that you are approved regardless of any previous medical conditions, 99% of the time. The premiums are also generally low (depending on the condition of the applicant) and whole life, meaning that your rate does not change within the span of your lifetime. Additionally, these plans can coexist with Medicaid, depending on your total assets. If said assets are too high to qualify, one may withdraw and use these funds to purchase additional coverage or what have you, maximizing your beneficiaries’ payout.

Term Life Plan

Standard Coverage, or “pure” life insurance. Generally, you’re provided with a term, such as 20 years for example, wherein you’re guaranteed payment as stated by the death benefit if the policyholder dies within the stated term. If alive at the end of term, one may renew for an additional term, or convert the existing coverage to permanent coverage.

The perks of this coverage involve the introductory price point, which is generally the most budget-friendly option for the relative amount of coverage received. Depending on if it’s simplified or guaranteed, this form of insurance usually requires a medical examination.

Prudential Life Insurance offers 3 term policies titled, SimplyTerm, Term Essential, and PruTerm One. The difference between these policies includes their relative coverage amount, as well as the monthly premium. All 3 may be converted to permanent plans after approval is received. 

Accidental Death and Dismemberment Insurance

Accidental Death and Dismemberment (AD&D) benefits usually exist as a rider to an existing policy, meant to prepare beneficiaries for accidental death or dismemberment. This rider may also exist as a stand-alone policy. 

Auto Insurance

Auto Insurance is an insurance policy meant to protect users in the event of an accident or other unlikely events regarding your vehicle. This policy is usually in effect as a way to provide those who have dealt with said circumstances a new vehicle/appropriate repairs. There’s a plethora of different coverage options and the option that’s right for you may change depending on your circumstances as well as who is writing the policy for you. This policy is underwritten by Liberty Mutual as well as Esurance.

Home Insurance

Home Insurance is a policy meant to protect individuals in the event damage or destruction occurs against their will on their home or property. This could include internally as well as externally. There’s multiple forms of home insurance and what you need is going to depend on your needs. This policy is underwritten by Liberty Mutual as well as Esurance.

Trustage Final Expense Insurance

Trustage Life Insurance offers two policy/arrangements regarding final expenses, with those being traditional final expense insurance as well prearranged funeral insurance.

Final Expense Insurance

Final expense life insurance is a whole-life policy with a smaller death benefit for seniors that don’t need as much coverage as younger people. Final Expense insurance isn’t only for this reason, though, and may be purchased on top of existing coverage.

Final Expense insurance does not have a restriction regarding payout and can be used as directed by the beneficiary in any way they desire. Final Expense Insurance serves as a policy with a reduced payout but a reduced monthly premium relative to other whole life insurance policies. 

Prearranged Funeral Insurance

A little odd compared to the other two, this Funeral Insurance type offers an agreement with a funeral home in which payout is sent directly to them with no middle man. Usually, the Funeral Insurance type we’d recommend the least, as payout may be used at the discretion of the beneficiary in the case of the other two plans.

Best $10,000 Burial Insurance Companies

Company 50 y/o Male 50 y/o Female 60 y/o Male 60 y/o Female 70 y/o Male 70 y/o Female

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. 

Is Trustage A Legitimate Life Insurance Company?

Ultimately yes, as far as legitimacy goes. The consumer complaint ratings are relatively low, and this provider offers a plethora of coverage options.

Although we would encourage you to potentially reconsider your decision as the financial safety of trustage life insurance relative to other providers in the market isn’t the best.

Trustage Insurance Pros & Cons


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.


Limited coverage maximum. The maximum coverage amount offered by trustage life insurance caps out at $100,000, which may not be enough for a lot of individuals. 

Expensive compared to other life insurance companies. Even for their term policies, 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. 

Strict underwriting. The underwriting used to gauge your qualifications is strict and like we mentioned above, your monthly premium does not reflect the low maximum amount of term coverage.

Ratings For Credit And Customer Service Satisfaction

AM Best Rating

They utilize a rating, similar to the letter ratings placed on restaurants, meant to help you discern their overall quality.

This letter ranking varies from A+ to F, similar to a scholastic grading system, and this organization is overseen by the chief insurance regulators regarding any US-affiliated territory. The rating itself is determined by a variety of different factors, such as performance, management, financial flexibility, shareholder safety, etc.

As of 2021, Trustage Life Insurance received an A in financial strength by A.M’s Best Rating, which implies average stability. 

NAIC Rating

The NAIC, or The National Association of Insurance Commissioners, is a regulation standard support organization based in America meant to add credibility to insurance companies.

Essentially, the goal of this organization is to protect consumers and to mandate that insurers deliver on their promises made. The rating used within the NAIC, involves a numerical value usually ranging from 1 – 10. One implies average customer complaints, where anything above this is above average, and so on.

 The NAIC administered a rating of 0.51 to trustage life insurance, implying slightly less than average customer complaints. 

Trustage Life Insurance Reviews

It is disgusting that I came on the website, & made my payment via a different card, (simply because I DID NOT want the payment to be taken out from a debit card that did not have the funds available) and trustage STILL sent the auto pay through to that debit card 4 days AFTER I had already made the payment on the website, and caused the bank to hit me with a $30 non-sufficient funds fee
Elderly woman reading a letter
Inez C. ✓
Green Bay, WI ⭐
Extremely poor service upon canceling. Transferred to multiple people, each trying to get us to stay rather than understanding our decision to cancel. Two weeks later and still no refunds. More calls and only excuses why some cancel form has yet to be sent. If no refund in one more week, legal action will be initiated. You asked that we (2of us) log in to contact your dis-service dept. Your website won’t allow our policy type to log in and instead provides a phone to call. VERY poor customer service.
Senior Asian man photographig flower
Steven J. ✓
Pawtucket, RI ⭐
I got an email reminding me I had bought a policy 1 year ago and it was time review and update. I have no idea who TruStage is and am certain I never bought a policy from them!!!!
Portrait of an elderly man in the park.
John S. ✓
Toms RIver, NJ⭐

Cancellation Policy

Insurance policies generally contain a 30-day refund introductory period, where you are able to receive a complete refund if canceled before the 31st day if dissatisfied. This is a two-way policy, allowing for insurers to cancel your policy for the same reasons. This may also be overridden by state law, if applicable. An example includes Florida, which bars insurers from cancellation up to 90 days after the policy start date. Exceptions include, if premiums are not paid, substantial change in risk to insure, etc.

Our Review

Reviewing the contract

Overall, there’s better options out there unless 

It’s surprising to think about how many options there are for senior funeral insurance. We at Final Expense Benefits partner with over 20 carriers, with:

Being some of the ones that stand out among the crowd. Reduce the stress involved with life insurance for seniors and let us do all of the heavy lifting for you. 

Our number is (866) 311-4338 9am-5pm Monday through Friday EST.

Overall, trustage life insurance contains fairly positive reviews, but a lackluster price point relative to other policies in the market, especially regarding their term policies. Their financial strength, according to AM’s best, is also rather low comparatively. Nothing particularly entices us to recommend this option, besides the well-thought-out layout of their website.

Unfortunately, trustage life insurance ‘s website isn’t enough to justify the recommendation over the other negative factors.

Frequently Asked Questions

Is Trustage Life Insurance Legit?

Yes, they are legit. 

How Are Trustage Life Insurance Reviews?

Overall, not the worst. We’ve definitely seen worse in our various other guides. 

What Does Trustage Life Insurance Cover?

Trustage Life Insurance has whole life insurance, term life insurance, final expense insurance, accidental death and dismemberment, as well as auto and home insurance. 


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