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TruStage Insurance Summary
TruStage is the consumer brand from parent company CMFG Life Insurance Company and part of CUNA Mutual Group, which was founded in 1935 to provide insurance to members of the recently created credit unions after the Great Depression. The CUNA Mutual Group corporate headquarters is located in Madison, Wis, but the company also has offices in Waverly, Iowa; Great Bend, Kan; and Fort Worth, Texas.
TruStage is a modern branding for a company with a long history, and sells auto, home, life, accidental death and dismemberment, and health insurance. Policies are available to members of associated credit unions across the country. Non-members can obtain coverage as well if they express an interest in TruStage products. Not all credit unions offer TruStage insurance, but the website allows members of credit unions to search using a simple tool.
TruStage partners with Liberty Mutual Group to provide auto and home coverage and Esurance, which is a subsidiary of Allstate insurance to provide auto coverage. Health insurance is made available through GoHealth, and life insurance products are underwritten directly through the parent company, CMFG Life. Policies are made available through direct-buy, or through a licensed call center agent.
TruStage’s first product, going back to 1935, is life insurance, and they offer two different types.
- Whole life policies are available at amounts small enough to provide basic final expenses coverage at a reasonable premium, and in much larger amounts to provide for other needs.
- Term life is available in a variety of different lengths to provide higher levels of coverage when it is most needed at a reasonable price.
Life insurance plans through TruStage come in varying levels, but appear to be geared towards budget options to provide for basic needs, based on the information on the website. The company also offers Guaranteed Acceptance Life Insurance and Children’s Whole Life Insurance.
TruStage offers health insurance plans through GoHealth to meet all Affordable Care Act (ACA) requirements. Plans can be purchased during open enrolment or when there is a qualifying life event such as a new baby or a marriage. Policies are available in a wide variety of coverage levels and with varying premiums.
Full coverage auto insurance is available through agreements with Liberty Mutual Group and Esurance, which is an Allstate company (one of the largest auto insurers in the nation). Esurance is a direct-buy company that does not require that you purchase through an agent, and has a comprehensive auto insurance program. They fully administrate all of the auto insurance policies, and TruStage is not involved beyond the referral. TruStage also offers homeowners insurance through its partnership with Liberty Mutual Group.
Accidental Death & Dismemberment
TruStage Accidental Death & Dismemberment (underwritten by CMFG Life Insurance Company) can be an affordable supplement to life insurance. If a serious accident occurs, AD&D could help your family in its time of need. There are no health questions or medical exams. If you are a member of a participating credit union and are over 18, you cannot be turned down.
TruStage offers its auto insurance policies in an agreement with Esurance, which is consistently rated among the better-priced auto insurance companies and auto and home insurance through Liberty Mutual Group. This would indicate that credit union members and consumers who qualify for the TruStage plans are likely to receive very competitive quotes as part of the agreement.
Online quoting is available through the Liberty Mutual Group and Esurance websites, which the TruStage quotes system re-directs to for auto quotes. This should allow for members to compare the options through TruStage with other auto insurers. Other quotes require that you enter credit union information to obtain.
Rates for other products are difficult to compare given the many factors that go into health and life insurance premiums. As a company catering primarily to a particular population (credit union members), rates would be expected to be fairly competitive, however, life insurance especially is very dependent on age, health, and other factors that can make a big difference in cost.
The company’s website is without a claims section. Since auto policies are written through Esurance and Liberty Mutual, claims would also be processed through that company’s website and claims system. Claims can be filed online and over the phone, and customers can track the process through the Esurance customer portal.
Life insurance claims are handled very differently from auto, and customers can contact TruStage through a toll-free number on the company’s contact page to obtain information regarding how to proceed. There is an online contact form that can be used for general questions, but no evidence of any online claims processing. This may be available when logged in to a customer account.
Although there is no available Better Business Bureau page for TruStage directly, parent company CMFG Life Insurance has a BBB rating of A+, with 33 complaints filed against the company in the past 3 years, eight of which were closed in the last 12 months.
Esurance, which handles auto insurance for the company, has an A+ rating with the BBB. They have some negative reviews, but are highly rated overall.
Very little information is available regarding TruStage, and there were no reviews available on a search. This is not unusual for a smaller company, especially for one that has most of its policies underwritten by other companies. This could also be a result of the relatively new branding of the insurance.
There are some reviews of CUNA Mutual Group and of CMFG, a few negative reviews as is to be expected with an insurance company, but not a large number of reviews overall, making it hard to obtain an accurate picture.
|Rating Company||Grade||Financial Outlook|
|Moody’s Investors Service||A2||Stable|
|S&P Global Ratings||A||Stable|
*TruStage Insurance products and programs are made available through TruStage Insurance Company, LLC. Life insurance and AD&D insurance are issued by CMFG Life Insurance Company. Auto, and home insurance are issued by leading insurance companies. TruStage Health Insurance is issued through GoHealth LLC. The insurance offered is not a deposit, and is not federally insured, sold, or guaranteed by your credit union.
TruStage is designed to provide easily accessible and affordable coverage to credit union members and consumers, but only underwrites life insurance through parent company CMFG. Auto insurance and health insurance are available through affiliations with other major companies. There is little information on rates, but credit union members may find obtaining a quote through TruStage’s Liberty Mutual Group or Esurance arrangements worthwhile, as that companies that are known for low rates have strong reputations.
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