888-234-8376

tl2g_logo_

≡ Menu

Customer Reviews

INSTANT QUOTE

CUNA Mutual Life Insurance Review

CUNA Mutual Life Insurance

Are you shopping around for a life insurance policy? If so, then perhaps you’ve already begun to consider CUNA Mutual as a viable choice. Before you make a decision about a life insurance company, here’s a review of CUNA Mutual full of information that will help you to make an informed choice. CUNA Mutual is one of many great life insurance companies in the U.S.

CUNA Mutual Life Insurance Review

About CUNA Mutual

CUNA Mutual is more than 80 years old, and has helped millions of people to sort out their finances. Headquartered in Wisconsin, CUNA Mutual has more than 1800 employees across the US and in the Dominican Republic. CUNA Mutual offers a full range of financial services ranging from 401K plans, insurance, guaranteed asset protection, and much more.

CUNA Mutual Group sells life insurance policies under their TruStage Insurance Program. TruStage Life Insurance offers both term life and whole life insurance through select credit unions. It is issued through CMFG Life Insurance Company.

One very important thing to know about CUNA Mutual is that these services are offered for credit union employees. In fact, CUNA stands for Credit Union National Security.

CUNA mutual is a mutual insurance company, as opposed to a stock company. Mutual insurance companies operate for the benefit of policyholders and do not have to answer to stockholders.

CUNA Mutual A.M. Best Rating

CUNA Mutual carries an A, excellent rating from A.M. Best Company as of January 2016. The rating demonstrates the company’s strong financial strength and its capability of fulfilling current financial obligations.

Life Insurance Products offered by CUNA Mutual

CUNA Mutual issues term and whole life coverage through CMFG Life Insurance Company.

Term Life

A level term life insurance policy covers you for a predetermined amount of time. It is our understanding that 1, 5, 10 or 20 year term life insurance is available through CMFG Life. Most term policies are convertible life insurance and can be converted to permanent life insurance, such as whole life.

Term life is a good choice if you are focused primarily on the death benefit protection. Another reason people use term is for the conversion option to protect their future insurability.

Compare Term Life vs Whole Life Insurance Quotes

Whole Life

Whole life insurance is different than Term Life in that it offers coverage for the entire duration of a person’s life. Typically, whole life insurance offers a few guarantees, including:

  1. Guaranteed death benefit
  2. Guaranteed cash value growth
  3. Guaranteed fixed premiums

Participating whole life also offers the chance to earn annual life insurance dividends. Dividends are valuable and can be used for:

Some other benefits of permanent life insurance are that the cash value grows tax deferred. Policy loans can be taken income tax free. And the death benefit is not taxable, unless it is included as part of your estate and your estate exceeds your state’s death tax or federal estate tax limit.

 

FastApply:

One special feature that CUNA Mutual offers is their FastApply online system. Members can use FastApply to immediately add no-cost accidental death and dismemberment coverage.

Credit Union Membership Requirements

CUNA Mutual only offers policies to people who are members of select credit unions. If you aren’t a member, joining one isn’t difficult to do, but make sure it is one of the many affiliates of CUNA Mutual.

Overall Opinion of CUNA Mutual

There is really not anything bad we can say about CUNA Mutual. They are a great company and they offer top notch life insurance policies for credit union members. As mentioned, they offer affordable premiums while still offering great life insurance coverage.

The only drawback to getting a policy with CUNA Mutual is that you might miss out on something better offered by another life insurance company. As a credit union you are almost guaranteed to enjoy the services and products offered by CUNA Mutual, but that doesn’t mean they are the absolute best for you. In fact, you may get blinded by the whole credit union angle—feeling they are the best for you when they may not be—and miss out on some really great life insurance products offered by other life insurance companies.

How can I tell if CUNA Mutual is the best life insurance company for me?

You can decide if CUNA Mutual will be the best or not before you buy a policy, but you’re going to need some expert help. What a life insurance company offers will vary from person to person because their quotes and coverage are very specific to each individual. That’s why you need a life insurance expert to help you figure out if CUNA Mutual is the way to go.

TermLife2Go is here to help.

Again, CUNA Mutual is a fantastic company. We may even wind up telling you that CUNA Mutual, via CMFG Life Insurance Company, is the best life insurance company for you. However, we will only do that if we truly feel that CUNA Mutual is the best for you, and we can only determine that after we get to know you.

About TermLife2Go

TermLife2Go will take the time to find out all of the things life insurance companies will want to know about you.

Then, we will compare that with the way dozens of other top life insurance companies in the United States assess potential customers before underwriting a policy.

Finally, we will make solid, informed recommendations specific to your life insurance needs. We may recommend TruStage Life Insurance—but only if we truly think it’s the best life insurance option for you.

So, what are you waiting for?  Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!

Thank you for reading our CUNA Mutual Life Insurance Review. Please leave any questions or comments below.

8 comments… add one
  • My term Life Ins. only covers me until I’m 75. I was told I could decide then if I want to pay more and keep the benefits. I also don’t belong to a Credit Union and didn’t belong to one for quite a few years before getting joining CUNA. I’m not complaining if it sounds that way.. sorry. I can barely afford to live right now with less than $200 to live on after bills are paid.
    Any answers will be appreciated.

    Thank you

    Bea

    • Bea,

      It sounds like you purchased this policy some time ago. We would recommend contacting CUNA directly at 1-800-356-2644 and see what options they may have available to you.

      Then with that information in hand, give us a call and see if we might have a better option for you.

      Thanks,

      TermLife2Go.

  • Elvira B.

    I am looking for life insurance on my mom everywhere I go it is so expensive can’t afford it and she needs life insurance all she has is social security and they pay nothing I would be the one paying her life insurance and I would also be her beneficiary if there is anyway you could please get back to me that would be wonderful and my mother is more than happy to talk with guys if needed she knows I’m looking for life insurance for her thank you for your time Elvira B. hope to hear from you soon

    • Elvira,

      We’ll have an agent send you an email shortly, and hopefully you’ll be able to find an insurance policy that will meet your needs.

      Thanks,

      TermLife2Go.

  • Tina M

    I have ins. for my husband , can not find the paper work.

    • Tina,

      For questions about your existing life insurance policy with CUNA Mutual Life Insurance Company, you would want to contact them directly at 1-800-238-5851.

      Thanks,

      TermLife2Go.

  • Ann Kay Marsing

    Q: if you surrender your life insurance policy for cash payment, and pass away within just a few days after receiving your check – that you did not cash – is there a grace period for your beneficiary to receive the full amount of your policy?

    • Hi Ann,

      Thank you for stopping by. Unfortunately, we do not have an answer for you. That is a great question for an insurance attorney who specializes in life insurance. Typically there is a grace period on unpaid premium. However, your scenario is different because the person has already surrendered the policy for cash payment. It would seem the contract was already consummated upon the company sending the check, rather than upon the recipient cashing the check. But we are not insurance attorneys and so will refrain from giving you a definitive answer either way.

      Sincerely,
      TermLife2Go

Leave a Comment

TermLife2Go Mission

To empower our customers through knowledge and expertise so our clients secure the best and most appropriate insurance coverage available providing peace of mind to our clients and their loved ones.

About TermLife2Go

Our licensed professionals have over two decades worth of experience and will help you choose the best life insurance company for the lowest price based on your specific needs and lifestyle. Find out more about us here.