TruStage life insurance

Overview

TruStage is the insurance and financial services company of the U.S. credit union movement. Until 2023 it was known as CUNA Mutual Group, and many policyholders still know it by that name or by its insurance companies, CMFG Life Insurance Company and MEMBERS Life Insurance Company. The TruStage group ranked #31 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $1.17 billion in premiums and a 0.75% market share.

TruStage is owned by CUNA Mutual Holding Company, a mutual holding company, so there are no outside shareholders. It sells consumer life insurance directly to credit union members online and by phone, often promoted through the member's own credit union; its site says it works closely with more than 3,200 credit unions. It also sells products to credit unions themselves, including the credit life and debt protection coverage credit unions offer on loans, and, through its preneed companies, funeral-funding life insurance sold at funeral homes. TruStage says it protects 42 million consumer relationships and manages $36.1 billion in assets. It is headquartered in Madison, Wisconsin, with major operations in Waverly, Iowa.

History

CUNA Mutual grew out of the Credit Union National Association (CUNA), the trade group credit unions formed in 1934. CUNA Mutual Society was established in 1935 in Madison to insure credit union loans and savings, so that a member's death did not leave the family owing the debt.

In 1989 CUNA Mutual signed a permanent affiliation with Century Companies of America, a Lutheran-founded life insurer in Waverly, Iowa, to market individual life insurance and annuities to credit union members; that is the origin of TruStage's Waverly operations. On January 31, 2012, CUNA Mutual Insurance Society reorganized into a stock insurance company within a mutual holding company structure and was renamed CMFG Life Insurance Company, owned by the new CUNA Mutual Holding Company. Existing policies and premiums did not change.

On August 2, 2021, CUNA Mutual completed its purchase of Assurant's Global Preneed business, based in Rapid City, South Dakota, for about $1.34 billion in cash. The deal brought in American Memorial Life Insurance Company and Union Security Insurance Company, which sell whole life policies through funeral homes to pay for pre-arranged funerals (preneed funeral insurance and funeral contracts). Union Security is one of the two companies in the NAIC group's individual life filing.

On May 23, 2023, CUNA Mutual Group announced it was unifying its corporate, business and consumer brands under TruStage, a name it had already used for consumer insurance. Terrance Williams, a former Allstate executive, succeeded Robert N. Trunzo as president and CEO on October 1, 2023.

Life insurance products

TruStage's consumer life insurance is designed to be bought without an agent and without a medical exam. Coverage is issued by CMFG Life Insurance Company.

• Term life can last for a fixed term or until age 80. It is priced in five-year age bands: the rate is set by age and sex when the policy is approved and rises every five years as you enter a new band (30, 35, 40, 45 and so on through 75). That makes it cheap at first but different from the 20- or 30-year level premium term most insurers sell. The policy can be renewed at the end of the term or converted to whole life. Applications take a few health questions, online or by phone.
• Whole life is simplified issue: a few health questions, no exam, and a quick decision for most applicants. Premiums are fixed, and the policy builds cash value you can borrow against.
• Guaranteed Acceptance whole life is for ages 45 to 80, with no health questions. It has a two-year graded benefit: if death is from natural causes in the first two years, the beneficiary receives premiums paid plus 10%, while accidental death is covered in full from the start (guaranteed issue life insurance: no health questions, with limits, final expense insurance: what it covers and costs).

All TruStage life policies come with a 30-day money-back guarantee. TruStage also sells accidental death and dismemberment insurance, which pays only for accidental deaths and injuries, and its preneed companies sell funeral-funding whole life through funeral homes. Coverage amounts are quoted during the application rather than published.

Other products

TruStage sells fixed, income and registered index-linked annuities (its Zone and ZoneChoice lines and MaxProtect fixed annuity, among others), mostly through credit union financial advisors. To credit unions it sells payment protection, lending and collateral insurance, and through CUMIS companies, business insurance for the credit unions themselves. CMFG Life also services older variable universal life and annuity contracts.

Buying and service

You can get a quote and apply for term or whole life at trustage.com or by calling the sales line at 833-374-1541 (weekdays 7 a.m. to 9 p.m. and Saturdays 8 a.m. to 4 p.m. Central). Coverage starts once the first premium is paid. Some credit unions present TruStage offers to their members, and the site lets you pick your credit union to see special offers. Because there is no agent, comparison shopping is up to you (mail-order and direct-response life insurance).

Existing customers can manage policies through an online account, chat or a callback request, or call customer support at 855-591-9026; an automated phone system handles routine policy requests around the clock. Correspondence for life coverage goes to CMFG Life Insurance Company, P.O. Box 61, Waverly, IA 50677-0061; annuity and variable universal life correspondence goes to 2000 Heritage Way, Waverly, IA 50677.

Claims

Beneficiaries can start a claim online at consumerclaim.trustage.com, by calling 800-779-5433 (weekdays 7 a.m. to 5 p.m. Central; TTY users dial 711), by email to [email protected], or by mail to TruStage Insurance Company, P.O. Box 61, Waverly, IA 50677-9202. Have the insured's name, date of birth, date of death and policy numbers ready. Policies in force two years or less need extra documents for review, because they are still within the the two-year contestability period.

TruStage says it typically settles a death benefit in three to five business days after it receives completed claim information from all beneficiaries, and its whole life page says most claims are paid in 10 days or less.

Those timelines were disrupted in 2026. TruStage says it identified a cyberattack on July 11, 2026 and shut down its network; as of its October 20, 2026 outage update, claim submission, processing and payout were still only partially available while it rebuilt systems. Beneficiaries reported waiting months for claims to be acknowledged or paid, and the Illinois Department of Insurance told CBS Chicago in October 2026 that it had received 14 complaints about TruStage claims since July 11, adding that no statutory claim deadlines had been extended. TruStage acknowledged delays and communication gaps and said it was adding customer service capacity. Beneficiaries facing a long delay can check the outage page and file a complaint with their state insurance department.

Ratings and reputation

TruStage's product pages say CMFG Life Insurance Company has been rated A (Excellent) by AM Best as of December 2025. In its December 2023 rating action, AM Best affirmed the A (Excellent) financial strength rating of CMFG Life and MEMBERS Life, citing very strong balance sheet strength and strong operating performance, and upgraded American Memorial Life to A (Excellent). TruStage does not publish S&P, Moody's or Fitch ratings for its life companies on its consumer pages.

TruStage was not among the brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study.

Who it suits

TruStage suits credit union members who want a modest amount of coverage quickly, without a medical exam or an agent, and older adults who want guaranteed acceptance burial coverage from a mutual-owned company with deep credit union ties. It is a weaker fit for anyone who needs a large policy, a long level-premium term or advice comparing several insurers.

• Strengths: No-exam term and whole life with online or phone applications; guaranteed acceptance whole life for ages 45 to 80; mutual holding company ownership with no outside shareholders; claims typically settled within days of complete paperwork.
• Weaknesses: Term premiums rise every five years rather than staying level for 20 or 30 years; coverage amounts are not published; AM Best rates the life companies A (Excellent), a step below the A+ and A++ of the largest mutuals; no agent to compare options for you; death claims were delayed for months after a July 2026 cyberattack.

How to contact TruStage