CUNA Mutual Group Experiences Strong Traction with Online Term Life Insurance Product

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TruStage® Simplified-Issue Term Life Insurance Surpasses $500 Million in Policies Written with Availability in 49 States

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"The rapid adoption of TruStage’s term life product points to a very real market need for understandable, affordable and easily accessible life insurance,” said Susan Sachatello, senior vice president, TruStage.

TruStage , CUNA Mutual Group’s consumer brand, announced today that its simplified-issue term life product, unveiled in November 2016, has surpassed $500 million in coverage for customers spanning 49 states. TruStage is among the first insurers to the market with a term life insurance product that consumers can purchase entirely online.

Featuring an online, automated enrollment process that takes just minutes to complete, TruStage’s simplified-issue term life insurance product helps demystify and simplify life insurance for consumers. After answering just two health questions, a completely automated underwriting platform delivers an instant decision, with coverage face amounts of $5,000 to $100,000 to provide protection for home mortgages, children’s education, income replacement and final expenses. Consumers who prefer to purchase by phone can speak with a licensed agent to secure coverage with no additional paperwork required.

“The rapid adoption of TruStage’s term life product points to a very real market need for understandable, affordable and easily accessible life insurance,” said Susan Sachatello, senior vice president, TruStage. “Too many American families are uninsured or underinsured, leaving them vulnerable and at risk. We need innovative and consumer-friendly ways for people to protect their loved ones, and this starts with a life insurance process that puts the customer at the heart of the experience.”

Since protecting loved ones is often the life insurance buyer’s motivating factor, the online application asks for the name of the beneficiary at the beginning of the process. The application displays the beneficiary's name every step of the way to remind the buyer who they are protecting. The product also provides coverage options based on the buyer’s budget rather than forcing them to select a specific coverage amount.

“Our focus on the buyer experience requires us to meet consumers where they are—largely online. By creating a frictionless experience for our consumers, we’re able to help more families obtain the financial protection and security they need,” added 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 http://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 http://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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Wendy Serafin

Jess Noelck
CUNA Mutual Group
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