CUNA Mutual Group issued the following announcement on Sept. 5.
Includes $1 Billion in Online Sales Alone.
During National Life Insurance Awareness Month, Strong Traction Underscores Robust Demand for Convenient and Affordable Life Insurance Options.
MADISON, Wis. – TruStage (Opens in new window), CUNA Mutual Group’s consumer brand, announced today its simplified-issue life insurance products have exceeded $6 billion in issued coverage.
TruStage offers term and whole life insurance policies, and was among the first to offer a suite of simplified-issue term and whole life insurance products (Opens in new window) to customers via a completely digital, automated application process that yields a decision within minutes by answering just a few questions. This avenue accounts for more than $1 billion in coverage issued to date.
Since its launch in November 2016, TruStage simplified-issue life insurance has expanded its customer base across 49 states. TruStage designed these products by incorporating consumer feedback and retail best practices to offer younger, middle-market and diverse consumers a wide range of protection options to cover home mortgages, children’s education, income replacement and final expenses. Coverage options are calculated and presented based on the buyer’s budget rather than a set coverage amount.
“The continued success of our simplified-issue life products, and their rapid growth with digital channels in such a short period of time, demonstrates the strong desire and need of middle-market consumers for insurance that is both affordable and accessible,” said Susan Sachatello, senior vice president, TruStage. “Purchasing life insurance is an inherently emotional decision, but with TruStage, it doesn’t have to be complicated or time consuming.”
TruStage structures its products around the concept that protecting loved ones rests at the core of purchasing life insurance. The online application asks for the name of the beneficiary at the beginning of the process, displaying that name through each step to remind applicants whom they are protecting.
“Supporting families by helping them reach a place of financial security remains our paramount priority, and we are committed to continuously improving our technology so consumers can more easily and quickly acquire proper and adequate insurance coverage,” added Sachatello.
About TruStage:
Protecting more than 20 million members, TruStage insurance products and programs include auto, home, life, accidental death and dismemberment and health insurance. They’re available to consumers across the U.S. helping build financial security for their families. For more information, please contact TruStage at 888.888.0375 or visit www.trustage.com (Opens in new window).
About CUNA Mutual Group:
CUNA Mutual Group is a financially strong insurance and investment company. For generations, we’ve partnered with credit union leaders to protect and grow their businesses, and help people plan, protect and invest for their future. CUNA Mutual Group offers commercial and personal insurance products; lending and payment security solutions; and retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.
Original source can be found here.
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