TruStage Life Insurance Reviews, Simple Application without Health Exam

TruStage Life Insurance Reviews, Simple Application without Health Exam

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This post shares my findings from the TruStage Life Insurance reviews and explains major benefits and important factors. As you read the article, you will learn if TruStage Life Insurance would be the right choice for you. Also, you will also see how actual users of this insurance policy think about their products and services.

Life Insurance Types

TruStage Life Insurance has three types of cover. This section shares the coverage amount of each product and the details. As I checked their website, it was easy to find detail information such as age range, coverage amount, requirements, cost, and which product is right for me.

Term Life

TruStage explains that they make it easy to apply for up to $300,000 of term life insurance. It seems like you only need to answer a few questions for an instant decision. You can quickly complete the process online in (they claim to be) 10 minutes. They will not require you to submit medical exam or intrusive tests. Plus, TruStage will not put a waiting period that if you are approved, you will get covered right after your first payment.

This Term Life option could be the most affordable plan among the three. Once you get approved and as long as you make required payments, you can keep the insurance up to the age of 80. And, only can you cancel your policy even if you develop cancer or other critical health conditions. Term Life will be a good option if you have big responsibilities currently and want a high coverage amount.

Whole Life

The Whole Life option literally covers you for the whole life. What’s different from Term Life is that when you are approved, your coverage and price are fixed for life. The application process is the same as Term Life. You can submit an application easily online and receive a decision in 10 minutes.

The monthly payments for this lifetime coverage never go up and the coverage never goes down. As long as you pay after approval, you will continue to be covered even when you get a serious illness. After you are gone, this policy option will pay income tax-free money to your family so that they can spend it for final expenses, mortgage payments, bills, debts or any other purpose.

Guaranteed Acceptance Whole Life

This option is designed to support your loved ones by easing the burdens from funeral costs, medical bills, and unpaid debts. This product means that you cannot be rejected because of your health, or any other reasons. This plan will cover you permanently as long as you make payments. Plus, rates will not increase and coverage will never decrease just like the Whole Life option. So, what’s different from Whole Life?

The Whole Life option also offers permanent coverage which never decreases and rates are locked in for life. Guaranteed Acceptance Whole Life ensures you have the same benefits as Whole Life without risk of being rejected, not even due to your health. However, note that benefits are limited in the first two years to guarantee your acceptance.

Protect Your Family
Protect Your Family with Life Cover
Photo by Jonathan Daniels on Unsplash

Comparison Items

We have learned about the details of TruStage Life Insurance products. This section explains the differences between the three products.

Age to Apply

  • Term Life: 18 – 69
  • Whole Life: 18 – 85
  • Guaranteed Acceptance Whole Life: 45 – 80

Covered Amounts

  • Term Life: $10,000 – $300,000
  • Whole Life: $1,000 – $100,000
  • Guaranteed Acceptance Whole Life: $2,000 – $25,000

Health Requirements

  • Term Life: No medical examination needed. Just a few questions.
  • Whole Life: No medical examination needed. Just a few questions.
  • Guaranteed Acceptance Whole Life: No medical examination needed. Just a few questions.

Cost

  • Term Life: It is affordable.
  • Whole Life: There are options to fit most budgets.
  • Guaranteed Acceptance Whole Life: There are options to fit most budgets.

Features

  • Term Life: You can buy online in about 10 minutes. Once approved, it lasts until 80.
  • Whole Life: Coverage lasts permanently. Price is locked in for life as long as your payments are made.
  • Guaranteed Acceptance Whole Life: You will not be turned down due to health conditions. Price and coverage are fixed for life.

When Do You Choose

Choose the product if you

  • Term Life: want value and have big obligations now.
  • Whole Life: want no surprise and want a plan for final expenses.
  • Guaranteed Acceptance Whole Life: want certainty and want a plan for final expenses.

Some Real Numbers

I was able to get some real payment numbers from their website by putting some details. Let me share the numbers to give you an idea of how much payment you would make per month.

I pretended that I live in Chicago (postcode 60007) and I was born on January 1st, 1980. Their website gave me the following quotes and other options:

  • $35 per month for the coverage of:
    • $51,000 – Term Life
    • $17,000 – Whole Life

It also suggested other options:

  • $25 per month for the coverage of:
    • $35,000 – Term Life
    • $12,000 – Whole Life
  • $45 per month for the coverage of:
    • $67,000 – Term Life
    • $25,000 – Whole Life

How much is TruStage approval faster?

Ok, so we got that TruStage life insurance has reasonable price ranges and approval time of 10 minutes is pretty fast. Then, how fast is it compared to other insurers? Let me share what this insurance blog post says, “The application and approval process varies from a few days to 8 weeks, depending on the answer to this question! Keep in mind, the more a life insurance company knows about you, the lower your premiums will be.”

They said that it can take from a few days to weeks. Even we use the fastest process time of other insurers, it would take a couple of days. We can instantly learn that TruStage’s 10-minute process is extremely fast. Then what about the premiums?

Average Life Insurance Premium Table
From Quotacy

To get quotes from TruStage, I used the age of 39. And, for the Term Life coverage of $35,000, TruStage told me to pay $25,000 per month. For the $51,000 Term Life coverage, it was $35. If you look at the bottom of the table above, paying $28.82 monthly will give me coverage of $500,000. This told me that TruStage’s premiums are higher compared to the averages.

But, the averages include insurers asking for health examinations and longer application process time. So, there is a tradeoff, and you will want to decide which factors are more valuable to you.

How People Think About TruStage Life Insurance

When you see product introduction from a company, you will always hear great things about it. No company will reveal any weaknesses or defects of the product, obviously. So, as a consumer, it is wiser to doubt what they say and do your own research before making a final purchase decision. In this section, we will learn how actual users think about TruStage Life Insurance. How can we measure these? We can do this by using data analysis techniques called sentiment analysis.

You don’t have to be scared by the technical term. I did the technical part and you can just look at pretty graphs. In this section, I will show you two types of graphs – word cloud and customer sentiment chart. For the analysis, I’ve compiled more than 2,500 customer reviews from TrustPilot and conducted analysis to summarize them. I will show you the result in a word cloud and a customer sentiments chart. And, lastly, I will share a TruStage Life Insurance’s Google trend result that shows the level of interest from people.

Word Cloud

Word cloud is one of the great and fun ways to understand customer sentiments toward a product or a service. In a word cloud, you can see specific words in different sizes. The larger it is, the more people used that word to describe the product. For this word cloud, I used the titles of the reviews, since people put the essence of their opinions in the title. The 2,500+ reviews allowed me to generate an interesting word cloud that let me reach a positive conclusion. Let’s have a look!

Positive TruStage Word Cloud
Positive TruStage Word Cloud

Understanding the word cloud is easy. Just follow your eyes and see what you see. You will see that most of the big words are all positive. This means that customers have had a positive experience with their product and service. People used words like “easy”, “great”, “good”, “satisfied”, “excellent”, and more positive terms to describe this online store.

Customer Sentiments

In the word cloud, we were able to observe what descriptive words people used to talk about TruStage Life Insurance. As mentioned, the word cloud is based on the titles of customer reviews, but the sentiment analysis graph was generated by the contents of the reviews. In the sentiment analysis, we will see more specific types of feeling that people showed in their review. In the analysis, you can see 10 different sentiments such as positive, negative, trust, anticipation, joy, fear, sadness, anger, surprise, and disgust.

The technology behind the chart is straightforward. The analysis algorithm holds 10 different lists – each list containing words that are mapped to one of the 10 sentiments. When this algorithm runs, it checks and matches with one of the sentiments. When matched, it is counted as one and is categorized in one of the 10 sentiments. My analysis on the positive reviews appears as below.

Positive Customer Sentiments
Positive Customer Sentiments

The chart is also not difficult to understand. You can see that the positive sentiment is ranked number one. The first rank is followed by “trust”, “negative”, “anticipation” and “joy”. It does have some negative opinions, but overall, people expressed more positive sentiments than negative ones. So my customer review analysis told me that many people have a positive experience with the insurance product.

To give you a simpler clearer view of customer sentiments, I also made the following positive vs. negative graph for you. As you can see, the positive sentiments are as twice as the negative sentiments. This tells us more clearly that more customers were happy with the insurer.

Positive TruStage
Positive TruStage

Google Trend

As the final segment of analysis, let me share the trend of TruStage Life Insurance. I used Google Trend to check how frequently “TruStage Life Insurance” is searched on Google over the past 7 years. Google Trend is a useful tool to measure the interest of people. The more frequently people search on Google, the more popular or trendy it is. The Google Trend (may not visible on a mobile phone) of the product below shows that people have increasingly shown an interest in this simple life insurance over that period.

Please note that the trend is from the U.S. If I divide it by state, we can see that the largest interest came from Louisiana.

If you click the list icon at the bottom right, you will be able to see the state rank. The second biggest state is Alabama followed by Louisiana, Georgia, and Tennessee. Maybe you are one of these states?

Conclusion

My customer reviews’ analysis revealed that most of the actual customers have had a positive experience with their service and product. According to the comparison with the market average, it seems that their biggest strength is a simple process that does not require a medical exam and approves within 10 minutes. Since their premium might not be favorable to you, you need to consider your situations and think what’s right for you.

Useful Links

To find out your quote, please visit the link below and put your details.

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