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I’m In My 20s or 30s. Do I Need Life Insurance?
Jul. 27, 2024
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Editorial Score:
KDF | Score | Text |
1 | 10 | Offers both term and whole life insurance with no medical exams required. |
2 | 8 | Customizable rates and deductibles, some upgrades and downgrades available |
3 | 8 | Multiple communication options, ability to speak to an agent |
4 | 10 | Online fast application, learning resources, access to rates before application |
5 | 10 | Yes, direct insurer |
I believe TruStage is best for individuals who want a quick and easy application process. The application is completely online, and shouldn’t take more than a few minutes.
The company is also a good choice for those who want to get life insurance without the need for a medical exam. TruStage will ask you a few questions about your health and may request your prescription records, but no medical exam is needed for its term or whole life insurance.
TruStage has several features that make it a solid choice. The fact that you can get coverage without an exam helps streamline the process of applying and gets you covered quicker. In fact, you can often get coverage the same day you apply.
The company publicly displays its rates online, so you’ll always know what you’ll be responsible for paying based on your coverage and age. It provides the flexibility to convert your term to whole life insurance if your needs change, without the need to answer any additional health questions.
No-strings-attached refund within first 30 days
Immediate coverage once first payment is received
Clear online application that only takes a few minutes
Plenty of helpful FAQs and blogs on the website
TruStage offers a straightforward, fully online application process that can be completed in minutes. The information you should have on hand when applying includes:
The names of your beneficiaries
Personal information including your name, address, email address, phone number, and social security number
Any existing coverage information you may have
Payment information
The application process begins by getting a quote, where you provide your Zip code, birthday, and gender. You’ll then be given a quote that you can adjust as you see fit and compare to other products.
Once you’ve chosen the right amount of coverage and monthly payment, click Apply to get started. First, you need to name your beneficiaries, and then you'll be asked a few basic questions about your contact details and personal information.
The company will ask if it can check your prescription records, and then you’ll need to provide your payment information. Payment can be made with a credit card, debit card, or bank transfer. You’ll only be charged if your coverage is approved.
When everything is entered, and you’ve reviewed that the details are correct, you can accept and sign. From there, you need to wait for approval and coverage, which can often occur the first day if your payment is processed.
TruStage offers both term and whole life insurance. Term life insurance starting rates can vary depending on your age and overall coverage. They can be as low as $4.80/month for a 25–30-year-old female with $10,000 of coverage, all the way up to $971/month for a 66–69-year-old male with $300,000 of coverage.
Keep in mind that your premiums with TruStage term life insurance will increase as you age. So if you apply and get approved when you’re 30, your rates will go up when you turn 35, 40, 45, and so on (every five years).
As long as you continue to pay your premiums, your coverage will not decrease and your policy will still be active up until you’re 80 years old.
For whole life coverage, your rate is locked in upfront and will never increase, even as you age or if health concerns materialize. Coverage can’t be canceled as long as you’re making your payments. The company doesn’t have a rate chart for whole life insurance, but getting an instant quote can show what you can expect to pay.
It also offers guaranteed acceptance whole life insurance, which guarantees acceptance for anyone 45 to 80 years old, regardless of your health.
Coverage limits up to $300,000
New applicants must be less than 69 years old for term and whole life insurance
Term life insurance is renewable until age 80
Can convert term coverage to whole life as needs change
I feel that TruStage is a safe and reliable company to work with. It abides by all state and federal regulations when it comes to protecting personal information, and access to sensitive information is only accessible to the personnel who need it to provide products or services to you.
TruStage also provides a comprehensive privacy policy on its website. This details the information the company collects, where it gets it from, why it collects it, and who it’s shared with.
Its policies are issued by trusted and leading insurance companies like CMFG Life Insurance Company and MEMBERS Life Insurance Company. TruStage also has a TrustPilot rating of 4.7, with thousands of positive reviews.
If you need support, you can fill out an online customer contact form or reach out to the company over the phone at 1-833-374-1541. TruStage offers phone support from 7 am to 9 pm CST Monday to Friday, and 8 am to 4 pm CST on Saturday.
I gave the company a call and was able to get connected to an agent almost immediately. The TruStage website includes helpful FAQs, and blog posts to help you learn about how insurance works, along with a variety of other topics.
Bottom Line
TruStage provides term and whole life insurance coverage up to $300,000. You can apply online in minutes and often get approved and covered within a day. There are no medical exams required for any of its plans, and there’s a full refund available within the first 30 days of your coverage if you aren’t satisfied.
5910 Mineral Point Road, Madison WI 53705
