TruStage Life Insurance Company Review

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People turn to credit unions for their savings, security, and stellar customer service.

These are some of the same values consumers hope to find in a life insurance company.

TruStage, a life insurance provider built on credit unions, could be the perfect answer to these needs.

The company may have trust in its name, but should you entrust them with your life insurance?

In our review, we’ll share TruStage’s history and assess its financial strength and products to help you decide if the credit union-backed provider is right for you.

Quick Links

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

Our TruStage Life Insurance Company Review

TruStage is a subsidiary of CMFG Life Insurance Company (CUNA Mutual Financial Group).

While CUNA Mutual has used the name TruStage commercially since 2013, the origins of the company date back to 1935, when credit union leaders wanted ways to better protect and serve their members.

In 1934, leaders from 21 states and the District of Columbia came together and formed the Credit Union National Association (CUNA).

One year later, they created CUNA Mutual and established the headquarters in Madison, Wisconsin.

CUNA Mutual grew steadily over the following decades as it sought to bring more credit unions under its wings.

By 1958, the company had insurance in-force over $4.2 billion and assets of $25 million, and it hasn’t slowed down since.

Within a decade, offices were established in California and Canada to expand the reach of its services.

The year 1996 brought a significant shift as CUNA Mutual reorganized into four divisions: Members Services, Lending, International, and Corporate Services.

Today, CUNA Mutual has more than $20 billion in total assets and more than 3,000 employees.

They also have an expansive portfolio of more than 300 credit union-specific products.

In 2013, CUNA Mutual created TruStage to handle the group’s insurance products, as a way for people to “Protect What Matters Most.”

TruStage provides whole life and term life insurance, in addition to accidental death and dismemberment, auto, health, and home insurance.

Currently, TruStage Life Insurance has more than $6 billion in coverage.

Awards and Accolades

TruStage is a powerhouse when it comes to accumulated awards, reflecting excellent business practices and a strong commitment to its employees and customers.

Here are some of their recent honors:

  • Innovation Award from NAFCU Services
  • Celent Model Insurer Award
  • Prometheus Awards, Best Technology Company Culture Finalist
  • Distinguished Performance Award for Diversity
  • World’s Most Ethical Companies from Ethisphere
  • Winning “W” Company
  • Top Independent Broker/Dealer by Revenue
  • Top 10 Independent Broker/Dealer for Women

Financial Strength and Ratings

Because CUNA Mutual created and is the holding company of TruStage, we are going to focus on the financial strength of the former.

CUNA Mutual has $20.6 billion in assets as of 2018, which represented an increase of nearly $3 billion from 2014. It also has more than $58 billion of insurance in force as of 2016.

CUNA Mutual has shown consistent growth in its finances over the past five years.

Revenue grew by $600 million, and the total surplus is up nearly $500 million.

The only figure which is relatively moderate in growth is net income, going from $206 million to $215 million since 2014.

In addition to the company’s financial performance, it is imperative to examine its financial strength ratings.

These scores measure the company’s likelihood to meet its financial obligations.

Both CUNA Mutual and TruStage enjoy excellent ratings from the major credit rating agencies.

Below are TruStage’s current ratings:

The Better Business Bureau (BBB) also rated TruStage Life Insurance an “A+“, which reflects a reliable and trustworthy organization.


TruStage offers simple term and permanent life insurance solutions.

Let’s explore what each of the company’s policies has to offer:


Term life insurance covers the policyholder for a set amount of time, like 5, 10, or 20 years.

When you go online, you can get a term life insurance policy from TruStage in as little as ten minutes.

All you have to do is fill in some personal information, answer a handful of brief questions, and you’ll be all set for a policy up to $300,000.

TruStage does not require a medical examination or test, and policyholders can choose a plan which lasts anywhere from one to 20 years.

You can also change your term life policy to permanent life insurance later.

Term life insurance is considered one of the most affordable and flexible products in the TruStage portfolio.

The drawback of this policy is the premium rate increase which occurs every five years.

For instance, if you pay $81.50 per month at age 35, you can expect to pay $120 five years later.

This rate increase would be less of a problem if TruStage had more competitive prices for term life.


TruStage offers Simplified Whole Life Insurance and Guaranteed Acceptance Whole Life Insurance.

Both whole life policies cover the duration of the policyholder’s life and come with guaranteed death benefits, cash value growth, and fixed premiums.

They also provide the opportunity to earn annual life insurance dividends.

Here’s  a quick overview of what each policy entails:

  • Simplified Whole Life Insurance: This policy covers unforeseen expenses like funerals. The cost of the premiums does not go up, allowing policyholders to sidestep inflation. Furthermore, they benefit from the built-in cash value, and TruStage does not require a medical exam.
  • Guaranteed Acceptance Whole Life Insurance: The plan comes with a limited death benefit of $25,000, accepting people regardless of their medical condition. If the policyholder dies in the first 24 months of acquiring the policy, TruStage only pays the total premium plus 10%. After 2 years, they are eligible for 100% of the death benefit.


TruStage Insurance offers several additional insurance products:

  • Accidental death and dismemberment insurance: Credit union members can add the no-exam plan for no extra cost. (read more)
  • Auto insurance: According to their countrywide survey, TruStage states that credit union members save up to $509 on auto insurance.
  • Home insurance: TruStage also offers homeowners, renters, and condo insurance.
  • Heath insurance: TruStage has health coverage for individuals, couples, and families, with potential eligibility for financial assistance.


There are several benefits to partnering with TruStage for your life insurance.

Let’s take a look at what makes the company worth considering:

  • Expertise: All too often, insurance companies try to do too much by being everything to customers. CUNA Mutual has a wide range of portfolio options, but the size, experience, and financial strength balance this out.
  • User-friendly site: The financial strength allows TruStage to come up with innovative and practical solutions for policyholders. For instance, their online interface is intuitive and features minimal questions, thus ensuring a straightforward and simple application process.
  • Quick no exam coverage: Users also do not have to take medical exams to qualify for a policy starting at $10,000, which is hard to find in many providers.
  • Community service: TruStage supports non-profits like the Literacy Network, Lussier Community Education Center, Operation Fresh Start, and Madison-Area Urban Ministry, each with six-figure donations.
  • Environmental impact: Their buildings are also eco-friendly, and they continuously implement policies to be more environmentally sustainable.


There are certain limits, though, when it comes to being a TruStage Life Insurance policyholder.

  • Policy size: The company caps their plans at $300,000, which is weak in comparison to its competition.
  • Lack of riders: Another downside is their exclusion of policy rider options for most of their insurance plans.
  • Cost: TruStage policies are not the most competitively priced when compared to other term life and whole life providers.

Final Thoughts

Based on its rich history and financial performance, TruStage is a company you can depend on for your life insurance needs.

They’re also among a small but growing number of providers offering simplified online applications and nearly instant decisions.

While their products may be right for some shoppers, you’ll probably benefit from lower prices and more policy options with another provider.

Be sure to compare quotes from TruStage and its competitors to lock in the lowest rates and get just the right policy you need.

TruStage Life Insurance Company Review

(855) 574-7317
5910 Mineral Point Road
Madison, WI 53705

Company Name (and subsidiaries)

  • CUNA Mutual
  • CMFG Life Insurance Company
  • TruStage Insurance Agency, LLC


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.