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CUNA Mutual Life Insurance Review

Researcher & Writer
June 05, 2018

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.

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.

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.


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.

Written by
We are a team of life insurance experts with the simple mission of helping you find the best coverage for your unique situation. We research, review, and rank life insurance companies to make that process easier.