TruStage Debuts Simplified-Issue Whole Life Insurance Product

MADISON, Wisconsin, Dec. 5 -- CUNA Mutual Group issued the following news release:

CUNA Mutual TruStage, CUNA Mutual Group's consumer brand, announced today the launch of its new entirely digital simplified-issue whole life insurance product, available to consumers by answering just a few questions and delivering an automated underwriting decision within minutes.

TruStage is among the first insurers to bring to market a fully digital whole life insurance product. This follows the success of its similar simplified-issue term life product launched in June 2016, which is available in 49 states with more than $1 billion in issued coverage in less than one year. The new TruStage simplified-issue whole life insurance targets a wide demographic, with a starting issue age of 18 and coverage amounts up to $100,000 across 48 states. The product also provides options built on the buyer's budget, rather than forcing them to select a specific coverage amount.

TruStage's simplified-issue whole life insurance product was created by melding consumer feedback with best practices adopted from the retail sector, including a key emotional feature: the online application asks for the name of the beneficiary at the beginning of the process and continues to display the beneficiary's name every step of the way to remind the buyer exactly who they are protecting.

"We want to continue to fill the sizable need for accessible, user-friendly life insurance in the market," said Susan Sachatello, senior vice president, TruStage. "Expanding on the tremendous momentum of our simplified term life insurance product launched just one year ago, we seek to further grow our offerings to make it simple and easy for consumers to secure coverage that protects families and meets their specific needs.

Through TruStage, consumers can purchase and service an entire suite of products, including: auto and home, whole life, term life and health insurance, all completely online.