2023 Trustage life insurance reviews

Pros and Cons of Trustage insurance

If you want to know more about the advantages and disadvantages of TruStage insurance, here is a comparison of the rates to other online providers in the market. For example, there is a male applicant who is 45 years of age, a non-smoker who is looking for instant life coverage of at least $150k. 

TruStage term life insurance, in comparison to the other three online insurers, namely Foresters, Phoenix/Nassue RE, and Fidelity, offer instant life insurance. Still, TruStage increases its premium every five years that depending on the applicant’s age. Also, it has the most expensive monthly premium of $95.00 among the other three insurers. The Foresters offer $58.50, Fidelity $69.77, and Phoenix $78.84 using the applicant’s same information. 

The Good Side

• The company offers mutual life insurance, and the advantage of this type of company is that it can provide more benefits to its insured. Also, the policyholders own the mutual company and have more power, and services are customer friendly. 
• People looking for an easy application process can count on TruStage term life insurance as they reduce the time of underwriting and simplified operations on medical exams, policies, and an instant issue. 
• The fact that the company works with credit unions makes them more attractive for looking for an insurance policy because they are a non-profit company. There is a growing trend for credit unions and creating a vast market for mutual life coverage.

The Bad Side

• As you have seen from the above data, TruStage term life insurance offers a higher premium of about 38% higher than other online insurers in the market. Aside from affordability from competitors’ insurance coverage, most of them ensure a steady monthly premium for the plan’s entire period. 
• As mentioned earlier, this insurer provides a changing monthly premium every five years, depending on the insured’s age. Simultaneously, other competitors such as Fidelity and Forester assured the same amount for the rest of the plan. It is vital always to read the fine print to know the truth. 
• TrusStage does not disclose that they have two-year exclusion of guaranteed issues in case of death caused by illnesses and other natural death. This process is also known as graded benefits expected for policy under guaranteed issue for whole life coverage. In case of death through natural causes, the beneficiary will get refunded premiums and the policy’s interest instead of paying for the death benefit. 
• Another drawback is that the company’s policy coverage is not available for comparison, unlike other competitors. The reason is that TruStage will direct you to the CMFG Life sales platform, which does not allow comparison quotes. It is good to consider the service of an independent agency as you search for the best insurance coverage to acquire adequate information about the pricing and quality of the policy.