CUNA Mutual Life Insurance Company Review

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If you feel overwhelmed by the number of life insurance providers you have to choose from, you aren’t alone.

It seems like there are endless amounts of companies, all promising to offer the best protection for your family.

Which one actually rises to the challenge depends on several factors, like the company’s history, financial strength, products, and prices.

In this review, we’ll look at CUNA Mutual, an innovative credit union-based provider, to help you determine whether or not it could be the right company for you.

Quick Links

  1. History
  2. Ratings
  3. Products
  4. Company Summary

Our CUNA Mutual Life Insurance Company Review

CUNA Mutual Life Insurance Company logo

The Credit Union National Association (CUNA) Mutual Group got its start in 1934 in Madison, Wisconsin. The purpose of the CUNA Mutual Group was to allow credit union leaders to protect their members.

Whether this protection is through direct or business partnerships, the organization offers comprehensive insurance policies in addition to protecting and growing the assets of companies.

By 1935, the group established headquarters and created the CUNA Mutual Insurance Society.

Over the decades, the organization continued to grow, reaching $30+ billion of policies in force in 1977 with more than 1,700 employees.

In 1996, the CUNA Mutual Group reorganized into four distinct divisions: Member Services, Lending, International, and Corporate Services.

Today, the company serves 30 million people across its portfolio of products.

It has garnered particular acclaim for TruStage, the company’s product group which handles all the insurance needs of the CUNA Mutual Group.

Employees are encouraged to uphold the values of the company’s founders. Those include passion, focus, innovation, integrity, collaboration, courage, and inclusion.

As a result, CUNA Mutual Life Insurance is highly decorated. They have won awards for their innovation, human rights campaigns, disability equality, diversity, and inclusion.

They have even been named the second most reputable insurance company in the United States by the Reputation Institute.

Similarly, CUNA Mutual has invested in its communities, customers, and employees, raising $599,000 for non-profit organizations.

They are also dedicated to sustainability, installing solar panels to power 20 percent of their Waverly, Iowa facility, making their headquarters bike-friendly, and utilizing paperless deliveries.

Financial Strength and Ratings

CUNA Mutual has a stellar financial track record across the board, and it continues to grow in each of its divisions year after year.

Currently, CUNA Mutual handles $20.6 billion in assets, an increase of more than $3 billion from three years ago.

Furthermore, CUNA Mutual has increased its revenue from $3.1 to $3.7 billion during the same period, with the surplus up more than $400 million.

As a result, CUNA Mutual has a robust portfolio of credit ratings.

Take a look:

In addition to receiving high marks from the credit rating agencies, CUNA Mutual is favorably rated by the Better Business Bureau, a non-profit organization designed to create a transparent relationship between consumers and companies.

The BBB gave the CUNA Mutual Insurance Group an “A+” rating, though the Bureau has not accredited CUNA.


With a better grasp of the company’s history and financial performance, it’s time to look at CUNA Mutual’s products.

You may find that one of the provider’s term or whole life products is a good fit for your needs.

Term Life Insurance

Term life insurance covers you for a select portion of time as opposed to an entire lifetime.

TruStage, the insurance branch of the CUNA Mutual Group, makes signing up for term life insurance quick and easy.

The website is simple and intuitive, and you only need to fill out a couple of brief questions.

These plans max out at $300,000 and do not require a physical or medical report to confirm. You can get a plan lasting up to age 80.

Policyholders can select from programs ranging from one to 20 years, depending on their preference. Many of these term policies can be converted into permanent life insurance later.

Overall, term life is meant to be the most affordable option in CUNA Mutual’s portfolio. The terms and payment periods are flexible and can be customized to the needs of the individual.

If you appreciate value and have significant financial obligations at the moment, it may be the best option for you.

Whole Life Insurance

If you want life insurance security for the rest of your life, then whole life insurance is for you.

It protects families against the expenses of a funeral and other death-related costs.

CUNA Mutual makes it possible to get whole life insurance in a matter of minutes.

The significant perks to this policy are lifetime protection and a guarantee your premium prices will never increase, counteracting the added cost of inflation in the future.

Policyholders also get built-in cash value with their no exam coverage.

As long as you make the payments, the policy will remain intact, even if you become disabled or develop a severe illness like cancer.

Guaranteed Acceptance Whole Life Insurance

CUNA Mutual also offers Guaranteed Acceptance Whole Life Insurance.

By design, the policy provides policyholders with insurance for their financial future by covering their final expenses, regardless of whether or not they have a medical condition.

This plan limits your face value amount to $25,000 in death benefits with a two-year exclusion.

If the policyholder passes away from natural causes in the first two years of the plan, CUNA Mutual pays the total premiums plus 10 percent.

However, if the policyholder lives beyond the first two years, they will be able to collect 100% of the death benefit.

Overall, this option is something you should choose only if you cannot qualify for traditional coverage.

It is also worth noting that other companies have more competitive prices for this plan.


In addition to the life insurance products above, CUNA Mutual offers forms of insurance through TruStage.

Closely related to life insurance, credit union members can get complimentary accidental death and dismemberment coverage added to their life policy.

CUNA Mutual also offers health, auto, and home insurance.

If you’re looking to house all of your insurance policies under the same roof, CUNA Mutual is worth considering.


There are plenty of reasons why policyholders stay with CUNA Mutual for life.

We’ll take a look at a few of them here:

  • Reputation: CUNA Mutual has a robust financial track record. With more than $2 billion in assets and strong financial ratings, policyholders can rest assured knowing CUNA Mutual will handle its financial obligations.
  • Flexible options: CUNA Mutual’s wide range of policies and benefits give people the resources they need. Plus, with FastApply, members can add accidental death and dismemberment coverage for no extra cost.
  • No exam coverage: CUNA Mutual will approve people instantly without medical exams, through a process made even more straightforward by their intuitive website design.


CUNA Mutual is a worthwhile option for anyone considering a personal or workplace insurance policy, but there are a few downsides.

  • Cost: CUNA Mutual offers security and stability, but not at the lowest cost. Premiums are not the most competitive among top life insurance companies.
  • Small policies: While CUNA Mutual’s policies are convenient to obtain, coverage is limited to $300,000, whereas you can get millions of dollars with comparable underwriting elsewhere.
  • Rider availability: Unlike many of its competitors, CUNA Mutual does not offer policy rider options, restricting your ability to customize your policy to your preferences.
  • Premium increase: Some of CUNA Mutual’s policies are subject to premium hikes every five years up to the age of 75.

Final Thoughts

CUNA Mutual has an outstanding reputation, consistently receiving praise for its financial performance and commitment to customers, the community, and the environment.

With an easy online application and no exam coverage, you could be covered in an instant.

And credit union members benefit from perks like free accidental death and dismemberment coverage.

While the company is dependable and the products are easy to access, you could save money and find a wider variety of policies by considering alternatives.

Before you choose CUNA Mutual or any other company, be sure to get quotes from multiple providers.

A few minutes of your time could save you thousands of dollars and connect you with the perfect provider to meet your needs.

CUNA Mutual Life Insurance Company Review

(800) 356-2644
5910 Mineral Point Rd.
Madison, WI 53705

Company Name (and subsidiaries)

  • CUNA Mutual Group
  • CMFG Life Insurance Company
  • TruStage Insurance Agency, LLC
  • MEMBERS Life Insurance Company
  • CUMIS Insurance Society


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.