If you are a CMFG customer, please note that this is a Review of CMFG. We are NOT them! Please refer to customer support information.
In this Review of CMFG Life Insurance, we will cover everything you need to know about CMFG and show you sample rates.
So if you’ve asked:
- how much does CMFG life insurance cost?
- what are the pros and cons of working with them?
- or what types of insurance do they offer?
Then you’re in the right place!
Who is CMFG Life Insurance?
CMFG Life Insurance Company has been around for over 80 years and maintains an “A” (Excellent) from the financial rating review done by A.M. Best. The “A” rating is the third-highest rating —out of the 16 categories of ratings A.M. Best issues— which means you can trust that CMFG is financially stable.
CMFG, through CUNA Mutual Group; uses its TruStage brand to sell life insurance to the public and credit union members.
CMFG Life Insurance Company issues the life insurance policies that are sold through TruStage Life Insurance Agency.
Pros and Cons of CMFG Life Insurance
Pros
- Simplified issue term life insurance and whole life insurance – no medical exam and only a few health questions.
- Guaranteed acceptance whole life – guaranteed life insurance with no medical exam or health questions.
- Fully digital application with instant decision. Approval is based on your answers to the questions on the application and information TruStage obtains from other sources.
- 30 Day Satisfaction Guarantee – If you are not satisfied, cancel in the first 30 days for a full refund. No questions asked.
- Expedited claims process.
- Online servicing and application – manage your life insurance policy from any device.
- Comparison tools on their website – helps you create a budget and make informed decisions.
Cons
- $100,000 policy limit. Currently, you can not purchase a policy larger than $100,000.
- TruStage life insurance policies, issued by CMFG Life Ins co, can be EXPENSIVE compared to other leading companies
- You can’t lock in a level payment for 10, 20, or 30 years like many companies allow you to do. Instead, their term life insurance premiums INCREASE every 5 year age bracket.
- Universal life insurance is not available.
What Types of Insurance Can You Purchase from CMFG Life Insurance
CMFG offers term, whole life, and guaranteed issue (or guaranteed acceptance) whole life.
CMFG TERM LIFE INSURANCE
- Issue Ages 25-69
- Coverage Amounts:
$10,000 to $100,000 ages 25- 69
$10,000 to $50,000 ages 51 to 69 - Health Information: No medical exam and only a few questions
- Features: Buy online in about 10 minutes or less
- Lasts until age 80. This term policy premiums increase when entering each five year age band: Age 25, 30, 35, 40, 45, 50, 55, 60, 65, 70, and 75. You can renew the policy until age 80.
- Provides affordable coverage protection for a specific term period (time)
- Pays a benefit if you die during the term
Sample Monthly Rates for CMFG Term Life Insurance
Male – Sample Monthly Rates – Term Life
| Age | $25,000 | $50,000 | $100,000 |
|---|---|---|---|
| 25 | $12.50 | $22.50 | $42.50 |
| 35 | $13.50 | $24.50 | $46.50 |
| 45 | $23.50 | $44.50 | $86.50 |
| 55 | $44.50 | $86.50 | N/A |
| 65 | $103.00 | N/A | N/A |
Female – Sample Monthly Rates – Term Life
| Age | $25,000 | $50,000 | $100,000 |
|---|---|---|---|
| 25 | $8.25 | $12.85 | $25.50 |
| 35 | $11.50 | $20.50 | $38.50 |
| 45 | $16.50 | $30.50 | $58.50 |
| 55 | $31.52 | $60.00 | N/A |
| 65 | $66.75 | N/A | N/A |
CMFG WHOLE LIFE INSURANCE
- Coverage you can never outlive.
- Issue Ages 18-85.
- Coverage Amounts: $1,000 to $100,000 ages 25 – 85 | $1,000 to $50,000 ages 51-85.
- Health Information: No medical exam and only a few questions.
- Features: Permanent protection and a price guaranteed for life as long as your payments are made.
- Can provide a future source of money prior to your death by building cash value over time.
- Allows for loans against the value. Loans incur interest and unpaid amounts are deducted from the death benefit amount upon death.
Male – Sample Monthly Rates – Whole Life
| Age | $25,000 | $50,000 | $100,000 |
|---|---|---|---|
| 25 | $20.75 | $35.00 | $68.00 |
| 35 | $29.75 | $51.00 | $100.00 |
| 45 | $44.25 | $77.00 | $152.00 |
| 55 | $73.25 | $129.00 | N/A |
| 65 | $119.00 | N/A | N/A |
Female – Sample Monthly Rates – Whole Life
| Age | $25,000 | $50,000 | $100,000 |
|---|---|---|---|
| 25 | $16.75 | $28.50 | $55.00 |
| 35 | $25.75 | $53.00 | $87.00 |
| 45 | $38.50 | $67.00 | $132.00 |
| 55 | $62.50 | $109.50 | N/A |
| 65 | $99.25 | N/A | N/A |
CMFG GUARANTEED ACCEPTANCE WHOLE LIFE
- Issue Ages 45-80.
- Coverage Amounts: $2,000-$25,000.
- Health Information: No medical exam, no questions.
- Features: Can’t be turned down due to health. Price and coverage guaranteed for life as long as your payments are made.
- Features: Permanent protection and a price guaranteed for life as long as your payments are made. Limitations on the death benefit may apply if you die in the first two years.
Male – Sample Monthly Rates – Guaranteed Acceptance Whole Life
| Age | $10,000 | $20,000 |
|---|---|---|
| 45 | $50.00 | $99.00 |
| 55 | $60.00 | $119.00 |
| 65 | $93.00 | $185.00 |
Female – Sample Monthly Rates – Guaranteed Acceptance Whole LIfe
| Age | $10,000 | $20,000 |
|---|---|---|
| 45 | $39.00 | $77.00 |
| 55 | $49.00 | $97.00 |
| 65 | $67.00 | $133.00 |
How Do CMFG’s Rates Compare To Other Companies?
Since they only offer plans up to $100,000 —and increase premiums every five years— we would expect their premiums to be lower!
Take, for example, a 35-year-old male in good health.
At CMFG, he’ll pay $35.60 per month (with a price increase looming in 5 years).
Or he could lock in a $100,000 policy for a 10 year period (twice as long) for *just $9.23 per month through AIG Direct.
He’d have to take an exam to get that rate, but still… That’s a quarter of the price, for better coverage!
In fact, many companies will offer much better rates for better coverage. We always strongly recommend getting at least 2 or 3 other quotes for comparison. No matter where you shop!
*AIG/American General’s Select-a-Term 10 was what was used for the quick comparison example above
Frequently Asked Questions About CMFG Life Insurance
Does CMFG life ins co cover COVID-19 related deaths?
Yes. Life insurance covers death by all causes that are not explicitly excluded in the policy. COVID-19 is not explicitly excluded in the policy therefore they would not deny a claim for that reason alone.
Does CMFG Life have good prices?
No. You will find better prices if you shop around. Especially on term life insurance.
How easy is it to get approved?
Easy. You can get a quote, complete the application, and get approved for a policy in a matter of minutes on the TruStage website.
Will I have to give my social security number to apply?
Yes. CMFG will use your social security number to verify your identity. They will also run a credit check and other types of data reporting during the underwriting process.
Is CMFG Life a good / legit company?
Yes. With over 3600 reviews on Trustpilot, CMFG sells TruStage life policies and maintains a 4 star excellent rating. Their digital platform and knowledgeable staff provide excellent customer service before and after the sale.
Does CMFG Life have a lot of complaints?
No. Although there are some complaints, overall most of the reviews are positive.
What are the CMFG Life Insurance Ratings?
CMFG Life Insurance Company Ratings are mainly positive with helpful staff and good service typically being reported in the customer reviews.
CMFG offer any life insurance riders?
No life insurance riders were listed as available on the CMFG website.
Can I use CMFG life insurance to plan my final expenses?
Yes. Life insurance is an essential part of your estate plan.
What is life expectancy?
Life expectancy is the statistical expectation of how long someone will live at birth based on a number of factors such as socioeconomics, demographic, geographic, thermographic, stenographic, idiographic, and historiographics.
GET A FREE INSTANT LIFE INSURANCE QUOTE
Call Anytime for Assistance!
888-681-4952
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Just a reminder: This is our Review of CMFG. We are not them!
How To Reach CMFG Customer Support
To contact CMFG for:
- Customer support (policy changes or questions)
- Billing questions
- or General inquiries
Call CUNA Mutual Group at 800.428.3932
For technical support (such as logging in) please call 800.962.5465.
The Bottom Line
CMFG Life Insurance Company offers limited amounts of coverage, at an average price, through TruStage.
Since they only offer plans up to $100,000 —and increase premiums every five years— we would expect their premiums to be lower!
Their products —like all life insurance policies— contain limitations, exclusions, termination provisions, and requirements for keeping them “in force”. ALWAYS carefully review your actual policy, as soon as you purchase it and contact the company if you have any questions.
It is worth your time to explore other options. Always take the time to get —at least— two or three comparison quotes, from other companies.
We do what’s right for you. Not what’s right just to make the sale. We simply want to help you make an informed decision.
Chris Lalor
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