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Bottom line: TruStage allows you to bypass the medical exam and buy life insurance online. But if you want more than $300,000 of coverage, you’ll need to look elsewhere.
TruStage’s life insurance lineup is open to credit union members, and the company is linked to more than 3,500 credit unions around the U.S. TruStage policies are issued by CMFG Life Insurance Co., a subsidiary of CUNA Mutual. Policy options are straightforward, with limited riders and low coverage caps.
If you’re in the market for term, whole or guaranteed issue life insurance, you can apply online and you won’t need a life insurance medical exam. Once you’re approved, coverage will kick in as soon as you pay the first premium.
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TruStage life insurance
TruStage life insurance earned 3 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
» MORE: Best life insurance companies
TruStage life insurance pros and cons
Apply online or over the phone.
Limited rider options.
Get an instant decision in most cases.
Low maximum coverage amounts.
No medical exam required for any policy.
» MORE: Compare life insurance quotes
TruStage life insurance policies
TruStage offers three types of policies in partnership with CMFG Life Insurance Co., none of which requires a medical exam. With your permission, the company will cross-check the information you provide with third-party sources such as prescription drug databases.
Term life insurance. Open to applicants ages 18 to 69, TruStage’s simplified issue term life insurance is sold in all states except New York. You can apply online to get an instant decision, and there’s no medical exam required, though you will need to answer some questions about your health and lifestyle.
TruStage offers $5,000 to $300,000 in coverage, and the policy renews every five years until you turn 80. Your premium will go up each time you renew coverage. The policy includes an accelerated death benefit, which allows you to tap into the death benefit while you’re still alive if you’re diagnosed with a terminal illness. It also has a conversion feature, meaning you can convert to a permanent life insurance policy later on.
Whole life insurance. TruStage’s whole life insurance policy is available in all states except New York and Montana, and to people ages 18 to 85. You can purchase $1,000 to $100,000 of coverage without the need for a medical exam, and premiums will stay the same for the life of the policy. But you can’t customize coverage with life insurance riders.
Whole life insurance builds cash value over time, and once you’ve accumulated enough, you can begin borrowing against your policy.
Guaranteed acceptance whole life insurance. If you want to skip the health questionnaire and medical exam, TruStage’s guaranteed issue life insurance policy might fit the bill. As long as you’re 45 to 80 years old and don’t live in New York or Washington, you’re guaranteed to be approved. However, like all guaranteed issue policies, you can expect to pay higher premiums because the insurer doesn’t have a complete picture of the person it’s covering. As for face amounts, you can buy $5,000 to $25,000 in coverage.
The policy has a “graded death benefit.” This means if you die of natural causes within the first two years after taking out the policy, your beneficiaries won’t receive a full death benefit. Instead, they’ll be reimbursed for the premiums you paid, plus 10%.
CMFG customer complaints and satisfaction
Over three years, CMFG — the company that issues TruStage policies — drew close to the expected number of complaints to state regulators for a company of its size, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners.
More about TruStage
If you’re a TruStage life insurance beneficiary, you can file a claim over the phone on weekdays or by email or mail at any time. To speed up the process, have the policy number handy, as well as any supporting documents, such as a certified copy of the death certificate.
In addition to life insurance, TruStage also sells auto, homeowners, condo and renters insurance through Liberty Mutual and supplemental health insurance through GoHealth.
TruStage also made our list of the best accidental death and dismemberment companies in 2022.
How we review life insurance companies
In our life insurance reviews, our editorial team considers both the customer and the insurer. These are some of the factors we take into account:
Policies offered. There are many types of life insurance on the market, and they fall into three key categories:
Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.
Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.
No-exam life insurance issues coverage without the need for a medical exam.
Financial strength. We use A.M. Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. NerdWallet does not recommend companies with a rating lower than a B. Here’s the breakdown:
Exceptional: A+, A++
Strong: A, A-
Moderate: B+, B
Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.
Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.
Dive deeper: Ratings methodology for life insurance
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.