MADISON, Wis., Sept. 26, 2017 /PRNewswire/ -- TruStage, CUNA Mutual Group's consumer brand, announced today its simplified-issue term life product has exceeded $1 billion in consumer coverage—double the amount since July. Unveiled in November 2016, TruStage has expanded its coverage across 49 states as one of the first insurers to offer a term life insurance product to consumers on a completely online platform.
TruStage's simplified-issue term life insurance product offers customers a digital, automated application process that can be completed in minutes. Customers must answer just two health questions for TruStage's entirely automated underwriting platform to generate an instant decision.
By melding consumer feedback and retail best practices, TruStage designed this coverage to target younger consumers with a wide range of coverage options to offer protection for home mortgages, children's education, income replacement and final expenses. Options are presented based on the buyer's budget, rather than forcing customers to purchase a set coverage amount.
"Rapidly increasing adoption of our simplified-issue term life insurance product by middle market consumers clearly validates their interest in insurance that is user-friendly, affordable, and convenient to buy," said Susan Sachatello, senior vice president, TruStage. "Purchasing life insurance is an inherently emotional decision, but with TruStage, it can be as simple as many retail purchases."
TruStage recognizes protecting loved ones is a top priority among customers. The online application asks for the name of the beneficiary at the beginning of the process and displays it through each step. This reminds applicants who they are protecting, which is the core purpose of purchasing life insurance.
TruStage simplified-issue term life insurance product recently won the 2017 Celent Model Insurer Award in the digital and omnichannel technology category for its ability to improve performance, deliver innovative solutions, and meet market demands when tackling issues that face all insurers today.
"We will continue to focus on improving the process and technology to help underinsured American families build financial security," adds Sachatello.
About TruStage: Protecting more than 18 million members, TruStage insurance products and programs include auto, home, life, accidental death and dismemberment and health insurance. They're available to consumers across the U.S. helping build financial security for their families. For more information, please contact TruStage at 888.888.0375 or visit www.trustage.com.
TruStage® Insurance products and programs are made available through TruStage Insurance Agency, LLC and issued by CMFG Life Insurance Company, a member company of CUNA Mutual Group and other leading insurance companies. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by credit unions.
About CUNA Mutual Group: CUNA Mutual Group helps people plan, protect and invest for their future – regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company. Corporate headquarters are located in Madison, Wis.