Comprehensive Review of TruStage Life Insurance

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu…

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Reviewed by

Rachael Brennan

Licensed Insurance Agent

Rachael Brennan

UPDATED: Mar 30, 2022

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Here's the Scoop

  • TruStage Insurance offers term, whole, and guaranteed acceptance life insurance products to people throughout the U.S.
  • TruStage states online that its rates are affordable, but individuals will need to get direct quotes to know what they can expect to pay in monthly premiums
  • TruStage has an A (Excellent) financial strength rating with A.M. Best

When shopping around for a life insurance policy, it can be challenging. There are so many companies and options for life insurance coverage, but how do you know what the best life insurance companies are in your area? One company that offers several different options for life insurance coverage is TruStage Insurance.

TruStage Insurance Company offers clients term, whole, and guaranteed life insurance options. After doing research, you may find that TruStage provides just what you’re looking for. But you should still shop around online and compare quotes from multiple life insurance companies in your area before you make any final decisions on life insurance coverage.

Table of Contents

What do TruStage’s different types of life insurance mean?

Based on your age, occupation, marital status, and many other factors, you will want to purchase a life insurance policy that meets your needs and provides for your loved ones, so you don’t have to stress about the future.

TruStage offers options for term life coverage, permanent coverage through a whole life policy, and guaranteed acceptance coverage for individuals who may find it difficult to purchase a standard life insurance policy with other companies.

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What is term life insurance?

A TruStage term life insurance policy will cover the policyholder for a fixed time. TruStage sells term life policies in five-year increments from a 10-year plan to a 35-year plan.

With term life coverage, your policy will pay out the death benefit to your beneficiaries if you pass away during the term life of your policy. Unfortunately, your policy could run out during your lifetime with term life insurance, and your beneficiaries would not receive the death benefit. However, term life monthly and annual rates are much lower than rates for a permanent life insurance policy.

How is permanent life insurance different from term life?

While a term life insurance plan will eventually run out, permanent life insurance will cover a policyholder for the duration of their life until the individual passes away. At that time, the permanent life insurance policy will pay the beneficiaries the total amount of the death benefit.

There are many different types of permanent life insurance, but one of the most popular options is a whole life insurance policy. Whole life insurance with TruStage offers a locked-in rate that will never increase during a person’s lifetime.

In addition, a TruStage whole life policy requires potential policyholders to answer just a few health questions but does not require a medical exam. Also, TruStage’s whole life insurance policies build a cash value and offer a future money source in an emergency.

How much is life insurance with TruStage?

The amount you will pay for a life insurance policy varies based on several factors, such as your age, gender, occupation, marital status, health status, and much more.

The table below shows average monthly rates for a 20-year term life insurance policy based on a person’s age.

20-Year Term Life Insurance Rates by Age

Age and Gender Good Health Average Health
20-year-old female $19 $25
20-year-old male $24 $30
30-year-old female $19 $26
30-year-old male $24 $31
40-year-old female $30 $39
40-year-old male $35 $47
50-year-old female $64 $84
50-year-old male $82 $113
60-year-old female $160 $218
60-year-old male $217 $303
70-year-old female $625 $756
70-year-old male $891 $1,066
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In comparison, the following table shows average monthly rates for a $100,000 whole life policy.

Average Monthly Rates for A $100,000 Whole Life Policy

Age Whole Life Insurance Monthly Rates (Male) Whole Life Insurance Monthly Rates (Female)
25 $93.70 $84.91
30 $107.71 $97.35
35 $128.24 $112.93
40 $153.90 $132.15
45 $190.79 $156.17
50 $234.90 $191.66
55 $294.84 $243.17
60 $399.24 $311.63
65 $528.00 $421.69
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As you can see, rates for a whole life policy are often more expensive than those associated with a term life policy. If you are searching for life insurance, but you must stick to a specific budget, you may find a more affordable term life policy.

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What is guaranteed acceptance life insurance?

Guaranteed acceptance life insurance offers life insurance coverage to individuals who might otherwise find it difficult to purchase a life insurance policy. In many cases, people with chronic illnesses or individuals past a certain age may have to purchase a guaranteed acceptance policy to get life insurance.

Usually, a guaranteed acceptance life insurance policy with TruStage has much lower limits for the death benefit. The premiums are often expensive compared to other life insurance policies with higher death benefits.

The table below shows average monthly rates for a guaranteed issue life insurance policy based on the coverage amount.

Average Monthly Rates for A Guaranteed Issue Whole Life Insurance Policy

Gender $10,000 $15,000 $20,000 $25,000
Male $206.33 $308.50 $415.67 $519.08
Female $179.76 $268.64 $393.31 $491.14
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Before you purchase a guaranteed issue policy or any life insurance policy, it’s always good to shop around for coverage with other companies. You may find that you’re eligible for better coverage at a lower rate with another company.

Does TruStage have good ratings and reviews?

TruStage’s parent company, CMFG Life Insurance Company, has an A (Excellent) financial strength rating with A.M. best. While there are some negative TruStage Life Insurance reviews online, there are also positive reviews pertaining to coverage and overall customer service.

If you are considering life insurance with TruStage, speak with a representative to see what type of policy might work best for you and your loved ones. And always compare quotes from other companies before you make any final decisions regarding your insurance coverage.