TruStage Life Insurance Review 2021

TruStage offers both term and whole life insurance products, neither of which require a medical exam.
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Author: Ben Peetermans
Last updated: August 6, 2021

Our take on TruStage

TruStage Life Insurance operates as a subsidiary of CMFG life, who underwrites its policies by partnering with other insurance companies. Historically, its products have been marketed through credit unions, which is how the company was initially formed in 1935. While this tradition continues to the present, its products are available to anyone.
Their guaranteed-acceptance plans may appeal to those struggling to receive acceptance by other life insurance providers.
This, of course, is their ideal niche. Since this is not the most affordable life insurance out there, TruStage appeals to customers who need life insurance with few questions asked. Healthy applicants may find better options elsewhere, but if you’re older or have some disqualifying health conditions, TruStage can be a welcome—albeit last resort—option to provide coverage for you and your beneficiaries.

TruStage Life Insurance Company Details

A.M. Best RatingA
S&P RatingA
BBB RatingA+
Customer Service Phone855-306-6248
AddressLiberty Bankers Life Insurance Company
1605 LBJ Freeway, Suite 710
Dallas, TX 75234

*These scores reflect the parent company CMFG Life Insurance Company which underwrites the policies.

What we like

Guaranteed Acceptance

TruStage offers guaranteed acceptance policies, which means that customers can always rely on these policies if they have been denied coverage elsewhere.

No Medical Exam

None of TruStage’s policies require a medical exam for approval, though there may be some medical questions involved to set the premium.

Online Quotes Available

TruStage offers an easy-to-use, mobile-friendly website with a calculator for obtaining online quotes for some of their policies.

What We Don’t Like

Limited Coverage

TruStage offers low coverage amounts, with their term policy capped at $300,000.

No Riders

No riders are available to customize their policies.

Higher Cost

Their higher costs make TruStage an option only if you’ve been denied coverage elsewhere.

TruStage Life Insurance Products

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TruStage provides both term and whole life options, but their term life product does not offer traditional term periods.
Length of Coverage

Expires at age 80

Minimum CoverageN/A
Maximum Coverage$300,000
Estimated Time to ApprovalImmediate
Product Features
  • Online application
  • Instant approval
  • No medical exam

TruStage takes a different approach to their term life insurance policies. With most companies, you choose your term length, usually a 10, 20, or 30-year policy. With TruStage, you don’t select a term. Instead, your policy expires once you turn 80. Additionally, your premiums will increase once you reach the five-year age brackets: 25, 30, 35, 40, etc. To clarify, these increases coincide with the age of the policyholder, not the age of the policy. This might be a turn-off to those expecting level premiums for a longer period than five years.

No Medical Exam

As with TruStage’s other policies, no medical exam is required for term life insurance.

Limited Benefit Amount

TruStage’s term life policies are capped at a max of $300,000. This is actually reasonably competitive for a simple-issue policy, but applicants seeking greater coverage might find better values through traditional underwriting at another company.

No Conversion Options

Because the policy expires at age 80, your beneficiaries receive nothing if you die after the expiration date. TruStage offers no option to convert the policy to another form of life insurance, making the purchase of a term plan a bit of a gamble.

Guaranteed Acceptance Whole Life Insurance

TruStage offers guaranteed whole life insurance for applicants 45 and older. These policies offer limited coverage (a maximum of $25,000), but rates stay locked in for life and they cannot be turned down due to their health.

Whole Life

TruStage’s whole life insurance offers permanent, lifelong protection, with a benefit and premium that remains locked in from the date of issue.

No Medical Exam

No medical exam is required, though you will have to answer some medical questions prior to approval.

Limited Coverage

This whole life product offers limited coverage, ranging from $1,000 to $100,000. This may make it ideal for a form of final expense insurance, though customers looking for a larger death benefit may wish to look elsewhere.

Policy benefits

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TruStage offers no additional riders to customize their policy, and their 30-day money-back guarantee is hardly unique to the industry.

No Riders

TruStage offers no additional riders to modify their policy. This means that unlike other life insurance products, policyholders have no access to living benefits or the ability to add dependents to their policy.

30-Day Refund Guarantee

TruStage customers can surrender their policy within 30 days for a no-strings-attached refund for the full amount of purchase, including any premiums they may have paid.


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TruStage’s prices make them a bit of a last resort to those who are struggling to find coverage elsewhere.

A healthy, 30-year-old male looking for term life coverage can expect to pay over $40.00 a month through TruStage. And without level premiums, these rates will increase every five years, and can rise dramatically with age.

Higher Costs for Simple-Issue Insurance

Even for simple-issue insurance, TruStage is costly. These plans will only appeal to those who struggle to meet the approval standards of other companies, making TruStage a bit of a costly last resort.

Poor Overall Value

Additionally, TruStage only offers coverage up to $300,000. Additionally, they provide no riders with which to customize your insurance plan. Many customers may wish to look elsewhere for policies with greater benefits and customizable features.


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Despite some other shortcomings, TruStage has a solid financial ranking.

Financial ratings

TruStage has been given favorable ratings from the following agencies:

  • A.M. Best: A
  • BBB: A+

This means that customers can have confidence that the company will follow through with its promises and benefits.

Customer reviews

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TruStage received slightly fewer customer complaints than average.

The National Association of Insurance Commissioners performs periodic reviews of life insurance companies. A score of 1.0 indicates an average number of customer complaints, while anything above that is considered above-average. In 2019, TruStage received a score of 0.90, indicating that they receive slightly fewer customer complaints than other companies of comparable size.
Read below for additional customer reviews.

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About the author
Ben Peetermans author
Ben Peetermans
Life Insurance Expert
Ben Peetermans is a life insurance editor. He enjoys blogging about various topics, including finance. He has been writing about insurance since 2015. Ben has been featured in various press outlets including FOX, CBS, and NBC.