TruStage Life Insurance

TruStage Life Insurance Review

Trustage whole life insurance Pros & Cons

TruStage is a life insurance carrier based in Madison, WI. The company was founded in 1935 and offers life insurance products in 50 states (and Washington, DC).

Trustage whole life insurance FAQ

What types of life insurance products does TruStage offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options TruStage offers.

• Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. Trustage whole life insurance offers term lengths ranging from 10 to 30 years. Death benefit amounts range from $5,000 to $300,000.
• Level Term Life Insurance - These are term life insurance policies that have the same fixed premium and payment amount through the duration of the life insurance policy.
• Annual Renewable Term Life Insurance - Annual renewable term life insurance policies provide a constant death benefit for the duration of the term life insurance policy but the premiums are reassessed every year.
• Whole Life Insurance - Whole life insurance policies remain in force for the policyholder's entire life, provided premiums are paid. They have a tax deferred cash value, meaning the cash value will not be taxed until funds are withdrawn. Whole life insurance death benefit payments range from $1,000 to $100,000.

As well as the basic coverage types mentioned above, TruStage company also offers the following life insurance policies:

• Group Life Insurance - Trustage whole life insurance offers some of its life insurance policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these term life insurance policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.
• Guaranteed acceptance - These whole life insurance policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is that these life insurance policies usually have lower death benefits and higher than normal premiums.

What is SuperMoney's financial rating of TruStage?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives TruStage an A or excellent, which is SuperMoney's second highest available score for life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from independent insurance rating agencies.