CMFG Life Insurance Review: Cost, Pros & Cons, and FAQ’s



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If you are a CMFG customer, please note that this is a review of CMFG.  We are NOT them!  Please click here for customer support information.

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In this CMFG Life Insurance Review, 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 perfect place!

Let's dive in.  But first, one quick warning on CMFG's term plans.

CAUTION!  CMFG Offers 5 Year Term

Most people choose term life insurance because they are able to lock in level payments for 15 to 20 years or more.  But CMFG's policies don't work like that!  The rates go up every 5 years!  

CMFG, through CUNA Mutual Group, uses its TruStage brand to sell life insurance to the public and credit union members. 

I’m often asked, "What does CMFG life insurance stand for?"  Well, the acronym CMFG does not stand for anything.  CMFG Life Insurance Company issues the life insurance policies sold through TruStage Life Insurance Agency.

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 Agency.   The “A” rating is the third-highest rating of 16 categories of ratings A.M. Best issues and means that you can trust that CMFG is financially stable.

PROS OF CMFG LIFE INSURANCE COMPANY:

While we don't love their price increases every five years, there are a lot of great benefits to working with CMFG:

  • 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 OF CMFG LIFE INS CO:

  • $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' insurance policies such as Ladder Life,  Bestow Life, or Health IQ.
  • 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.


Skip the Needles!  Get More Coverage!

Want to take the "pain" out of life insurance?  We don't blame you!  Ladder Life Insurance is our #1 recommended no-exam company offering 10, 20, and 30 year plans up to age 60.  Ladder's rates are guaranteed level for the full term length (None of this 5 year increase stuff) and offers coverage up to $8 million!  See if you qualify for "no exam" today.

Quotes are quick, easy, and free! 


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LIFE INSURANCE PRODUCTS SOLD BY CMFG REVIEWED:

CMFG offers term, whole life, and guaranteed issue (or guaranteed acceptance) whole life.  

Here's the breakdown for each:

LIFE INSURANCE MADE EASY

Select Your State for an Instant Quote

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 till 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 till age 80.
  • Provides affordable coverage protection for a specific term period (time)
  • Pays a benefit if you die during the term

Male - Sample Monthly Quotes - Term Life Insurance

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 Quotes - Term Life Insurance

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

Caution:  CMFG term rates are subject to increase every 5 years.  To lock in guaranteed level term rates for 10 to 30 years with no exam, we recommend Ladder Life Insurance.

How much does CMFG Life Insurance Cost?  Sample quotes for term and whole life, ages 18 to 85, $1,000 to $100,000

How Do CMFG's Rates Compare to Other Companies?

I'm going to be honest.  If you're only going to offer plans up to $100,000 and you're going to increase premiums every five years, I 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, I'd wager to guess just about any of our favorite companies below will offer much better rates for better coverage.  I highly recommend grabbing a couple of quotes for comparison.

*I quoted AIG/American General's Select-a-Term 10 above.

 

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 Quotes - Whole Life Insurance

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

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Female - Sample Monthly Quotes - Whole Life Insurance

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

Caution:  CMFG whole life rates are subject to increase every 5 years.  To lock in guaranteed level rates for life, we recommend AIG Direct.

 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.

SAMPLE QUOTE

Male - Sample Monthly Quotes - 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 Quotes - Guaranteed Acceptance Whole LIfe

Age

$10,000

$20,000

45

$39.00

$77.00

55

$49.00

$97.00

65

$67.00

$133.00

Get Free Quotes from Our Best Priced Companies

FREQUENTLY ASKED QUESTIONS ABOUT CMFG LIFE INSURANCE REVIEWS:

  1. 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.
  2. Does CMFG Life have good prices? No.  You will find better prices if you shop around.  Especially on term life insurance.
  3. 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.
  4. 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.
  5. 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.
  6. Does CMFG Life have a lot of complaints?  No.  Although there are some complaints, overall most of the reviews are positive.
  7. 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.
  8. CMFG offer any life insurance riders?  No life insurance riders were listed as available on the CMFG website.
  9.  Can I use CMFG life insurance to plan my final expenses?  Yes.  Life insurance is an essential part of your estate plan.
  10.  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.

how to reach CMFG Customer Support

Please note this article is a review about CMFG.  We are not them!

To contact CMFG for:

  • Customer support (policy changes or questions)
  • Billing questions
  • or General inquiries 

Please call CUNA Mutual Group at 800.428.3932

For technical support (such as logging in) please call 800.962.5465.

CAUTION!  CMFG Offers 5 Year Term

Most people choose term life insurance because they are able to lock in level payments for 15 to 20 years or more.  But CMFG's policies don't work like that!  The rates go up every 5 years!  



Pre-existing health conditions? 

Don't worry.  Health IQ specializes in insuring people just like you.  From high blood pressure to diabetes, Health IQ has seen it all and has the absolute lowest rates.  Click below to see if you qualify.

Quotes are quick, easy, and free! 


CMFG Life Insurance Alternatives

All of the following companies have better products and cheaper prices versus CMFG Life Insurance.  Some even offer no medical exam policies.

aaa life insurance company, aaa life insurance rates, aaa life insurance review

AAA Life Insurance Review

While we don't offer policies through AAA, it's always good to get an additional quote for comparison purposes.  AAA offers term, whole & universal life insurance.

Fabric Logo

Fabric Life Insurance Review

If you're looking for no medical exam and more coverage than you can buy through CMFG, you should get a quote from Fabric.  They offer affordable life insurance with easy, online quotes and application available 24/7.   Well-qualified applicants ge approved without a medical exam.

For more company information, please visit our Life Insurance Company Reviews Page.   If you’re searching for life insurance by term length or dollar amount, please visit this page

CMFG LIFE INSURANCE REVIEW SUMMARY:

CMFG Life Insurance Company offers limited amounts of coverage at an average price through TruStage life insurance policies. 

It is worth your time to explore other options if you are currently thinking about buying life insurance.  Their policies, like all life insurance policies, contain limitations, exclusions, termination provisions, and requirements for keeping them in force.   You must ALWAYS carefully review your actual policy as soon as you purchase it and contact the company if you have any questions.

Get Free Quotes from Our Best Priced Companies


Written by:  Chris Lalor

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  1. My husband had CMFG Life Insurance. He passed 01undefined05undefined2021 and this insurance company would not give me any information about the insurance although, I am the beneficiary. They stated they could tell me what kind of insurance it was and they will just stop payment. The only person they could talk with is my dead husband. How crazy is that? He was paying $72 a month for NOTHING!

    1. I’m sorry to hear that. You might want to speak to an insurance claims attorney to see if you can do anything. Good luck.

  2. I have an insurance policy with CMFG, that I pay on every month thru bank draft, I cannot find the policy . Can you all send me a copy of my policy, this would be very helpful , thank you This is my third attempt to contact this company, so if I don’t hear from y’all , I’m about to stop payment.

    1. Hello Taylor, As indicated in the article, we are NOT CMFG. This is a review of the company. Please contact the company directly.

  3. This is the worst run life insurance company I've ever dealt with. One person tells you one thing and another tells you something else. When you call to cancel insurance with them they fail to tell you you will need to sign paper work and paperwork you never get. I found a very honest life insurance company that for only $1.80 more a month I) my family will get $30,000 instead of only $10,000 that CMFG LIFE INSURANCE offered me for $33 a month. Stay as far away from this insurance company they will screw you over.

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