TruStage Whole Life Insurance Reviews: Is It Worth It?
If you are looking for a life insurance policy that can provide coverage for your entire life, you might have come across TruStage Whole Life Insurance.
TruStage is a company that offers life insurance products to credit union members, and its policies are underwritten by CMFG Life Insurance Co.
But is TruStage Whole Life Insurance a good option for you? How does it compare to other life insurance companies and products?
In this article, we will review TruStage Whole Life Insurance and help you decide if it suits your needs and budget.
What is TruStage Whole Life Insurance?
TruStage Whole Life Insurance is a type of permanent life insurance that offers a guaranteed death benefit, fixed premiums, and cash value accumulation.
This means that as long as you pay your premiums, your policy will remain in force until you die, and your beneficiaries will receive a lump sum payment.
Additionally, your policy will build cash value over time, which you can access through loans or withdrawals, or use to pay your premiums.
TruStage Whole Life Insurance does not require a medical exam to apply. You can get a quote and apply online, and you may get approved and covered on the same day.
However, you will need to answer some health questions, and your eligibility and rates will depend on your age, gender, and health status.
Furthermore, TruStage Whole Life Insurance offers coverage amounts ranging from $1,000 to $100,000, depending on your age and state of residence.
The premiums are level and guaranteed for life, meaning they will not increase as you get older or if your health changes. However, the premiums are generally higher than those of term life insurance or other types of permanent life insurance.
What are the Pros and Cons of TruStage Whole Life Insurance?
TruStage Whole Life Insurance has some advantages and disadvantages that you should consider before buying a policy.
Here are some of the pros and cons of TruStage Whole Life Insurance:
Pros
- No medical exam required. You can apply online and get covered quickly and easily, without having to undergo a physical exam or provide blood or urine samples.
- Guaranteed coverage for life. Your policy will not expire or decrease in value as long as you pay your premiums, and your beneficiaries will receive a guaranteed death benefit when you die.
- Cash value accumulation. Your policy will earn interest and grow in value over time, and you can access your cash value through loans or withdrawals, or use it to pay your premiums.
- Fixed and level premiums. Your premiums will not change throughout your lifetime, regardless of your age or health condition.
Cons
- High premiums. Compared to term life insurance or other types of permanent life insurance, TruStage Whole Life Insurance has higher premiums, which may not be affordable for some people.
- Low coverage amounts. TruStage Whole Life Insurance offers limited coverage amounts, which may not be enough to meet your financial needs and goals. The maximum coverage amount is $100,000, and it may be lower depending on your age and state of residence.
- Limited riders and options. TruStage Whole Life Insurance does not offer many riders or options to customize your policy, such as accelerated death benefit, waiver of premium, or child rider.
TruStage Whole Life Insurance Customer Reviews
TruStage Whole Life Insurance has mixed customer reviews, according to various sources.
On the positive side, some customers appreciate the ease and convenience of applying online, the fast approval and coverage, and the friendly and helpful customer service.
On the negative side, some customers complain about the high premiums, the low coverage amounts, and the lack of flexibility and options.
Here are some examples of customer reviews from different sources:
“I applied for TruStage Whole Life Insurance online and got approved and covered in less than an hour. The process was simple and straightforward, and the customer service was excellent. I am happy with my policy and the peace of mind it gives me.” – John, Trustpilot
“I bought TruStage Whole Life Insurance because I wanted a permanent policy that would not expire or increase in price. However, I was disappointed with the coverage amount and the premium. Furthermore, I could only get $25,000 of coverage, and the premium was too high for me. I wish I had more options and flexibility.” – Mary, Consumer Affairs
“I have TruStage Whole Life Insurance for myself and my wife, and we are satisfied with our policies. The premiums are reasonable and fixed for life, and the cash value is growing steadily. We like that we can access our cash value if we need to, or use it to pay our premiums.” – Robert, BBB
How to Contact TruStage Whole Life Insurance
If you have any questions or concerns about TruStage Whole Life Insurance, you can contact TruStage by phone, email, or mail
Here are the contact details for TruStage:
- Phone: 1-888-787-8243
- Email: trustage@cunamutual.com
- Mail: TruStage Insurance Agency, 5910 Mineral Point Road, Madison, WI 53705
Conclusion
TruStage Whole Life Insurance is a type of permanent life insurance that offers a guaranteed death benefit, fixed premiums, and cash value accumulation, without requiring a medical exam.
However, it also has some drawbacks, such as high premiums, low coverage amounts, and limited riders and options.
Additionally, TruStage Whole Life Insurance may be a good option for you if you are looking for a simple and convenient way to get life insurance coverage for your entire life, and you are comfortable with the coverage amount and premium that TruStage offers.
However, if you are looking for a more affordable, flexible, or comprehensive life insurance policy, you may want to compare other life insurance companies and products before making a decision.
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