TruStage Life Insurance Review: Fine Print & Rates Revealed

Insider's Review Of TruStage Life Insurance [Fine Print Revealed]

Have you seen a TV commercial or receive junk mail about TruStage and its life insurance program? Would you like to find out more and discover if their products make sense for you?

Then, stick with us! Today’s article will review in detail TruStage’s life insurance programs.

Whether you’re looking for life insurance for yourself or a loved one like your mom or dad, I promise that:

You’ll have a much clearer understanding of how TruStage life insurance works and how to proceed with getting the best life insurance plan available.

So, let’s begin!

NOTE: Would you prefer to watch a video instead? Check out the video below: A complete presentation on TruStage Life Insurance. Enjoy!

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TruStage Life Insurance Products

There are three primary life insurance products that TruStage offer:

  • Term life insurance
  • Whole life insurance
  • Guaranteed Acceptance Life Insurance

First, we’ll explore each product in-depth before moving onto the next section.

Remember:

Not ALL insurance is the same. And which TYPE of insurance product you own may have DISASTROUS implications.

…So making SURE which type you want to own is CRITICAL.

Let’s start!

Term Life Insurance

term-insurance-for-seniors
Beware! Some term insurance products for seniors can cancel at age 80!

Term insurance, in short, terminates.

That’s right, it only lasts for a temporary amount of time!

In other words, you can OUTLIVE your coverage.

If that’s true, then why do people purchase term insurance?

The answer?

Most likely because term insurance solves a temporary problem.

Temporary problems include:

  • Paying off your mortgage, or,
  • Leaving money to your family if you die young.

These are temporary needs that go away with time.

One day, you’ll pay off your mortgage and draw retirement, right? And when you accomplish this goal, the need for term insurance goes away.

Then, what about “permanent” problems?

That’s a great question! And we have the perfect example of a permanent problem below.

Your funeral arrangements!

If you need insurance to cover final expenses, it doesn’t make sense to buy life insurance you could outlive, right?

NOTE: We’ll cover this in more detail soon. Hang tight =)

How TruStage’s Term Insurance Product Works

Now you have a basic understanding of term life insurance, let’s look at TruStage’s website.

Here are a few sample quotes to get an idea of how TruStage’s term products work:

In this example, I requested a quote for a 65-year-old male to see what rates they offered.

Here’s what came up:

  • $10,000 in coverage at $28.80/month
  • $20,000 in coverage at $55.10/month
  • $30,000 in coverage $81.40/month
TruStage Term Life “Fine Print”

Next, I’ll direct your attention over the term life insurance details (IE, the “fine print”):

Do you see what the “fine print” says in the red box?

It says:

If you purchase a TruStage term life insurance product, your coverage WILL CANCEL at age 80!

But wait… there’s more!

The fine print continues:

Initial premium rate is based on age and gender and increases every five years as the policyholder reaches new age bands. (Emphasis mine).

Yep, you heard that right!

Bottom line, TruStage term life insurance premiums INCREASE as you age.

The good news is that there are other options available!

In fact, you can find other term life insurance that NEVER increases in price. PLUS, some plans cancel well AFTER 80 years old, meaning your coverage lasts LONGER!

We’ll talk more about this later on. I just wanted to throw this out there if you’re wondering whether there’s a “better” deal…

There definitely is =)

TruStage Term Life Insurance Application Process

Term Life Insurance

Upon reviewing the TruStage’s life insurance application, the health questions are the same whether you want a term, whole, or guaranteed acceptance plan.

Let’s actually take a look at the health questions TruStage asks so you can see your potential for qualifying for coverage.

The first question reads as follows:

“Are you unable to work or perform normal activities due to chronic illness or permanent injury?”

This means that if you are disabled or receive disability, this may count against you when you apply.

See below:

The next question is a five-year look-back on your health history:

This question includes the following conditions (NOTE: some questions are not shown in the picture below but included in the application):

  • Disabled
  • Cancer
  • Stroke
  • Diabetes requiring insulin
  • Chronic liver disease
  • Drug problems
  • Mental disorder
  • Heart disease condition
  • Stents
  • Bypasses
  • Seizures
  • Aneurysms
  • Chronic disorder of the brain or spinal nerve
  • Chronic lung disease like COPD
So, what does this mean?

If you answer “yes” to any of these conditions, you may NOT qualify for the plan or price you want.

However, just because these conditions could affect you negatively during TruStage’s life insurance application process doesn’t mean you won’t be able to secure quality coverage elsewhere.

If you answer “yes” to ANY question or want to know for sure that you have the best plan possible, I highly recommend that you seek a second opinion with us at Buy Life Insurance For Burial. 

Why? Unlike TruStage, we shop MULTIPLE insurance carriers to find you the best coverage.

And, more often than not, more carriers = better quality life insurance.

Whole Life Insurance

Now you understand how TruStage term life insurance works, let’s shift gears and describe how TruStage’s whole life products work.

Here’s the idea behind how whole life insurance (sometimes called “permanent life insurance”) works:

  • It doesn’t cancel at a later date.
  • The rates never go up.
  • It can’t terminate due to age or health.
  • You may be able to qualify for first-day full coverage.

This is how all whole life insurance works, and TruStage’s whole life product is no exception.

Further, with TruStage Life Insurance, you have two whole life options available:

  • The first option provides first-day full coverage for natural and accidental death.
  • The second option guarantees insurability regardless of health but restricts natural coverage for two years.

So, let’s take a look at TruStage’s permanent life insurance and guaranteed issue life insurance as well.

TruStage Whole Life Insurance Review

In the image above, you are reviewing the TruStage Whole Life Insurance Product pricing page.

Make note of these rates, as we’ll revisit them momentarily.

TruStage Whole Life Application Process

As mentioned in the section on TruStage’s term life insurance product, the health questions used to determine insurability with TruStage’s whole life insurance coverage are the same.

In other words, this means that if you have a condition related to any of the issues below, it’s unlikely you will qualify for first-day full coverage.

  • Disabled
  • Cancer
  • Stroke
  • Diabetes requiring insulin
  • Chronic liver disease
  • Drug problems
  • Mental disorder
  • Heart disease condition
  • Stents
  • Bypasses
  • Seizures
  • Aneurysms
  • Chronic disorder of the brain or spinal nerve
  • Chronic lung disease like COPD

While TruStage may accept you with the conditions above, it’ll most likely depend on length of time since the health event, and if any current medications you’re taking are uninsurable.

Again, this is why we at Buy Life Insurance For Burial work with multiple carriers instead of just one like how TruStage works.

With more carrier options, you increase the likelihood of finding the best coverage you can qualify for.

In other words, this translates many times into getting MORE and BETTER coverage than if you worked with a “one trick pony” solution.

But what if you insist on sticking with TruStage and are uneligible for the Whole Life plan?

That leaves one final product available to qualify from with TruStage Life Insurance…

TruStage Guaranteed Acceptance Whole Life Insurance

guaranteed-issue-term-life-insurance

Out of all three life insurance options from TruStage, the Guaranteed Acceptance Whole Life Insurance product is the “Trump Card” when all else fails.

As the name implies, your acceptance is guaranteed. And just like the TruStage Whole Life Insurance program:

  • Rates that NEVER go up, and,
  • The coverage never cancels due to age or health.

BUT, there are serious limitations that you MUST be aware of.

Reading through the TruStage Guaranteed Issue “fine print,” you’ll see the following points:

  • If your death is accidental, we (TruStage) will pay your coverage in full.
  • If your death is not accidental, your benefits are limited to a return of 100% of your premiums plus an additional 10% interest.

What does this mean?

It means if you die from non-accidental death within your first 2 years of being covered, you are NOT paid the full amount of coverage.

Instead, your beneficiary only gets back what premiums you paid in plus a measly 10% in interest!

In other words, if you die 20 months into a TruStage Guaranteed Issue life insurance plan paying $50 a month, your beneficiary receives:

  • $50 x 20 months = $1000, plus,
  • $1000 x 10% = $100, for a grand total of,
  • $1100! =(

Not too hot, right?

Again, this is why it’s so important NOT to opt for guaranteed acceptance coverage when possible!

And arguably the potential for you getting guaranteed issue coverage is MUCH higher with TruStage than working with a broker like us.

Alternatives to TruStage Life Insurance

Here's my top tips on getting the best 15-year term life insurance policy.

As an independent insurance broker since 2011, I believe there are better life insurance options available.

And, what greater way to do that than directly comparing your options!

But, just quickly, I want to explain how my national insurance agency operates differently from TruStage.

Working With A Broker Is Better!

Is Open Care Insurance Services the best burial insurance deal you can get?

Let’s start with term insurance.

When any company, TruStage included, offers only one term insurance option, that means… they are married to that particular company’s product.

Agents working for these companies have no choice but to push that one product.

In other words, this means you might not be getting the best deal available!

That’s why brokers like us at Buy Life Insurance For Burial have a unique opportunity to help.

You see, we work with MULTIPLE companies. This means we can compare your options to find YOU the best deal the market has to offer.

Other Options to TruStage Term Life Insurance

Now let’s compare a TruStage $50,000 term life insurance plan (five-year escalating premiums for 65-year-old non-smoking male) with other companies. Here’s what TruStage offers:

And here’s what other companies that we offer (with BETTER premiums AND a price lock) offered with the same parameters:

Do you see the difference?

You could save more than 50% with the options listed above!

But just for argument’s sake, let’s say you end up paying a slightly higher price because your health isn’t 100%.

With the companies I have access to, the 15-year premium is locked in. That means NO premium increases ever!

Other Options to TruStage Whole Life Insurance

After reviewing TruStage’s whole life product, it’s actually competitively priced.

However, sometimes it’s still worth getting a second option from an experienced broker like me.

Let me show you a $25,000 TruStage plan for a 65-year-old male smoker:

Then we’ll discuss how we at Buy Life Insurance For Burial may have a better chance at getting you approved. 

So, $25,000 whole life insurance (first-day full coverage) is $113 a month with TruStage.

The lowest price I can offer is $115 a month. However, from experience, I know it will probably be somewhere around $130 and $140.

If that’s true, why pay more?

Bottom line, it all depends on what you actually qualify for.

Of course, you should look for the best price. But, low premiums mean nothing if you don’t qualify.

Qualifying For TruStage versus Other Companies

Here’s the biggest problem I perceive trying to qualify for coverage with TruStage:

The biggest hurdle with TruStage is answering the health questions we mentioned above.

Here’s an example of what I mean:

Let’s say you had cancer four years ago. You would need to answer “yes” when asked.

This makes it highly UNLIKELY that TruStage would qualify you for first-day whole life coverage as they have a 5 year look back on cancer history when determining if you’re approved for their lowest-price whole life product.

And this applies to virtually EVERY health question. Yikes!

It’s not just about price!

While TruStage whole life insurance is well priced, chances are you WON’T get the coverage you want at the premium displayed on the website.

The good news is that there are MANY other whole life insurance carriers available with MUCH easier underwriting.

Even with a history of ANY of the following, our clients find it MUCH easier to get very well priced quality coverage that sometimes offers first-day FULL coverage, too!

  • Disabled
  • Cancer
  • Stroke
  • Diabetes requiring insulin
  • Chronic liver disease
  • Drug problems
  • Mental disorder
  • Heart disease condition
  • Stents
  • Bypasses
  • Seizures
  • Aneurysms
  • Chronic disorder of the brain or spinal nerve
  • Chronic lung disease like COPD

Another Option: Guaranteed Universal Life Insurance

A guaranteed universal life insurance plan (GUL) acts like a whole life product with no rate increases as long as you pay the predefined rate every single month until you pass away.

It works exactly the same as a whole life product, except that the price for coverage is usually HALF of what a whole life product runs.

Guaranteed Universal Life Rates

Shown above are Sagicor $25,000 guaranteed universal life insurance products for a non-smoking male age 65 – notice how the price is far LESS than TruStage’s $25,000 whole life policy example from above.

What’s the catch?

First, you have to be in pretty good health to qualify.

Also, there’s preferred and standard prices, so the premium you’re charged may differ from what’s shown above.

TruStage Guaranteed Acceptance Life Insurance

Finally, let’s look at TruStage’s guaranteed acceptance life insurance plan. Guaranteed acceptance plans come into play when you fail to qualify for either term or whole life insurance.

As mentioned previously, the TruStage Guaranteed Acceptance Plan asks no questions, you’re guaranteed approval, but there is NO full death benefit for natural death during the first two years.

However, while you may ONLY qualify for Guaranteed Acceptance coverage with TruStage, you MAY be eligible for first-day full coverage elsewhere.

And that’s important! You might even qualify for a better deal in terms of price and value for money.

TruStage Guaranteed Approval Rate Comparison

Here is TruStage’s guaranteed acceptance life insurance plan.

Now, let’s look at a guaranteed issue plan with both American General and Gerber Life for a 65-year-old non-smoker male.

American General is the more popular choice since my client’s save approximately $16 a month with AIG/American General compared to TruStage.

If you have no choice but to apply for a guaranteed acceptance plan, it’s worth getting a second opinion at Buy Life Insurance For Burial. 

Final Thoughts on TruStage Life Insurance

So, what’s my opinion overall?

Well, TruStage is a great company that helps a lot of people secure insurance who otherwise wouldn’t.

And for that, I commend them.

However, you’re here because you understand that getting a second opinion is the smart thing to do.

And hopefully, my article has answered some, if not most, of your questions and explained what TruStage really has to offer.

Ultimately, my goal is to give you all the facts so you can make a well-informed decision – one that suits YOU.

Of course, I’d be delighted if you gave us a call. I can’t help it! This is my job, after all.

However, I can honestly assure you that the process is simple, and there’s no pressure to accept any quote I put forward to you.

If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for a free life insurance quote!

It only takes 5 to 10 minutes! Based on your needs, I’ll pull up a few options and explain why and how they’ll work for you.

If you decide you’re happy with the plan I find, the application process is very straightforward. And I can guide you every step of the way.

Most of the time it’s completely online or over the phone. Plus, a health examination is often unnecessary.

Overall, the process usually takes a couple of days, sometimes sooner. If you’re approved, you’ll get a notification and receive your policy in the mail about several weeks later.

If you can’t get a hold of me on 888-626-0439, don’t panic! You can leave a message, and I’ll get back to you within 24 hours.

Thanks for reading!

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