TruStage Life Insurance FAQs TruStage life insurance is underwritten by CMFG Life Insurance Co., which has an A rating from credit rating agency AM Best. This means the company has an “excellent” ability to pay claims.

CMFG Life Insurance Company TruStage Insurance is underwritten by CMFG Life Insurance Company, a trusted provider of insurance coverage for over 80 years.

TruStage Insurance Agency is part of the CUNA Mutual Group, whose policies are underwritten by CMFG Life Insurance Company. CMFG has been around for more than 80 years and is headquartered in Madison, Wisconsin.

Unlike whole life, which covers you for the rest of your life, term life lasts a certain number of years - usually 10, 20 or 30 - or until you reach a certain age - say 80 years old. If you pass away during that time, your loved ones get the money. However, once the term you selected comes to an end, so does your coverage.

Our legacy of people helping people began nearly a century ago as CUNA Mutual Group. And it's one we're proud to continue today as TruStage™.

Unlike permanent life insurance, term life insurance stays in effect for only a certain period of time - such as 10, 20, or 30 years. If you die during that period, your beneficiary will receive a payout from the insurance company. If you die after the policy has expired, there will be no payout.

Life insurance covers the insured person's life. So if you pass away while your policy is active, your beneficiaries can use the payout to cover whatever they choose - medical bills, funeral costs, education, loans, day-to-day costs, and even savings.

In most cases your premium payments will be forfeited, and you will not receive anything for your previous payments. The one exception to this is if you have whole life insurance and cancel it. You may have built up equity for all of the payments you have made so you may receive a lump sum payment from your insurer.

Term life is typically less expensive than a permanent whole life policy – but unlike permanent life insurance, term policies have no cash value, no payout after the term expires, and no value other than a death benefit.

How Much Is Life Insurance? Life insurance costs an average of $13 a month ($159 a year) for a 20-year, $250,000 term life insurance policy for a man age 30 and $12 a month ($142 a year) for a woman age 30, based on Forbes Advisor's analysis.

Most insurance companies say a reasonable amount for life insurance is at least 10 times the amount of annual salary. If you multiply an annual salary of $50,000 by 10, for instance, you'd opt for $500,000 in coverage. Some recommend adding an additional $100,000 in coverage per child above the 10x amount.

Generally, when term life insurance expires, the policy simply expires, and no action needs to be taken by the policyholder. A notice is sent by the insurance carrier that the policy is no longer in effect, the policyholder stops paying the premiums, and there is no longer any potential death benefit.