CUNA Mutual Group's TruStage® Simplified-Issue Life Insurance Exceeds $6 Billion in Issued Coverage Less Than 2 Years After Introduction
- Includes $1 Billion in Online Sales Alone
- During National Life Insurance Awareness Month, Strong Traction Underscores Robust Demand for Convenient and Affordable Life Insurance Options
MADISON, Wis., Sept. 5, 2018 /PRNewswire/ -- TruStage, CUNA Mutual Group's consumer brand, announced today its simplified-issue life insurance products have exceeded $6 billion in issued coverage.
TruStage offers term and whole life insurance policies, and was among the first to offer a suite of simplified-issue term and whole life insurance products to customers via a completely digital, automated application process that yields a decision within minutes by answering just a few questions. This avenue accounts for more than $1 billion in coverage issued to date.
Since its launch in November 2016, TruStage simplified-issue life insurance has expanded its customer base across 49 states. TruStage designed these products by incorporating consumer feedback and retail best practices to offer younger, middle-market and diverse consumers a wide range of protection options to cover home mortgages, children's education, income replacement and final expenses. Coverage options are calculated and presented based on the buyer's budget rather than a set coverage amount.
"The continued success of our simplified-issue life products, and their rapid growth with digital channels in such a short period of time, demonstrates the strong desire and need of middle-market consumers for insurance that is both affordable and accessible," said Susan Sachatello, senior vice president, TruStage. "Purchasing life insurance is an inherently emotional decision, but with TruStage, it doesn't have to be complicated or time consuming."
TruStage structures its products around the concept that protecting loved ones rests at the core of purchasing life insurance. The online application asks for the name of the beneficiary at the beginning of the process, displaying that name through each step to remind applicants whom they are protecting.
"Supporting families by helping them reach a place of financial security remains our paramount priority, and we are committed to continuously improving our technology so consumers can more easily and quickly acquire proper and adequate insurance coverage," added Sachatello.
About TruStage:
Protecting more than 20 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 is a financially strong insurance and investment company. For generations, we've partnered with credit union leaders to protect and grow their businesses, and help people plan, protect and invest for their future. CUNA Mutual Group offers commercial and personal insurance products; lending and payment security solutions; and 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.
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