lena muhtadi borrelli headshot
  • Written by Lena Muhtadi Borrelli
  • Edited By
    Michael Santiago, CRPC™
    headshot of Michael Santiago

    Michael Santiago, CRPC™

    Senior Financial Editor

    Michael Santiago, a senior financial editor, joined RetireGuide in 2023. With over 10 years of professional writing and editing experience, he brings a wealth of expertise in creating content for diverse industries, including travel and healthcare. Having traveled to more than 40 countries across five continents and lived in Europe and Asia for several years, Michael's global perspective enriches his work. He combines his strong writing skills, editorial judgment and passion for crafting accurate and engrossing content to enhance the user experience on RetireGuide.

    Read More
  • Published: November 5, 2024
  • Updated: November 11, 2024
  • 6 min read time
  • This page features 8 Cited Research Articles
Fact Checked
Fact Checked

Our fact-checking process starts with vetting all sources to ensure they are authoritative and relevant. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. For full transparency, we clearly identify our sources in a list at the bottom of each page.

Cite Us
How to Cite RetireGuide.com's Article

APA Muhtadi, L. (2024, November 11). TruStage at a Glance: Rates, Products and Reviews. RetireGuide.com. Retrieved December 19, 2024, from https://www.retireguide.com/annuities/companies/trustage/

MLA Muhtadi, Lena. "TruStage at a Glance: Rates, Products and Reviews." RetireGuide.com, 11 Nov 2024, https://www.retireguide.com/annuities/companies/trustage/.

Chicago Muhtadi, Lena. "TruStage at a Glance: Rates, Products and Reviews." RetireGuide.com. Last modified November 11, 2024. https://www.retireguide.com/annuities/companies/trustage/.

Why Trust RetireGuide.com
Why You Can Trust Us

Content created by RetireGuide and sponsored by our partners.

Key Principles

RetireGuide’s mission is to provide seniors with resources that will help them reach important financial decisions that affect their retirement. Our goal is to arm our readers with knowledge that will lead to a healthy and financially sound retirement.

We’re dedicated to providing thoroughly researched annuity information that guides you toward making the best possible financial decisions for you and your family.

We partner with Senior Market Sales (SMS), a leader in the insurance industry with over 30 years of experience and a network of 66,000 independently licensed agents across the United States.

Our partnership with SMS (and Insuractive, the company’s consumer-facing branch) allows us to deliver expertly researched and reviewed content at no cost or obligation to all of our visitors. It also gives our visitors the opportunity to take the next step in their financial journey by requesting help from our partner through the phone numbers or forms provided on our website.

If a visitor chooses to inquire about an annuity or other financial product through SMS as a result of our research and accurate information, RetireGuide may receive compensation for connecting the visitor with SMS. The revenue we earn for helping visitors get the help they’re seeking makes RetireGuide stronger for our audiences.

The content and tools created by RetireGuide adhere to strict editorial guidelines to ensure quality and transparency.

Editorial Independence

While the experts from SMS are available to help you navigate various annuity options, RetireGuide retains complete editorial control over the information it publishes.

We operate independently from SMS, which allows the award-winning RetireGuide team to provide you with unbiased information.

Visitors can trust our inflexibility regarding our editorial autonomy. We do not allow our partnership to influence RetireGuide’s editorial content whatsoever.
Key Takeaways
  • Formerly CUNA Mutual Group, TruStage specializes in several forms of annuities, including fixed, immediate, income and registered index-linked annuities.
  • TruStage stands out for its flexible payments, controlled risk levels and low fees.
  • It receives high ratings for both financial stability and customer satisfaction from rating providers like the NAIC, AM Best and the Better Business Bureau.
  • In addition to annuity contracts, TruStage retirement planning and life insurance are also available.

Overview of TruStage

Founded as CUNA Mutual Group, TruStage carries on the tradition of prioritizing customer service and satisfaction for its 37 million customers. With over 85 years of experience in the financial sector, the company is strong and well-established, boasting $32 billion in assets under management and $2 billion in total benefits paid.

While the National Association of Insurance Commissioners (NAIC) does not report on TruStage, its insurance partner CMFG Life Insurance represents approximately 0.074% of the market with $1.85 billion in annual premiums.

TruStage Annuities

TruStage offers various types of annuities including fixed, immediate, registered index-linked (RILA) and income annuities.

TruStage MaxProtect Fixed Annuity
Issued by CMFG Life Insurance Company, this multi-year guaranteed annuity (MYGA) locks in your interest rate for your choice of three, five or seven years. With tax-deferred growth, there is a choice of monthly, quarterly, semi-annually or annually with guaranteed lifetime income. You can also opt for a joint annuity that covers both you and another individual.
TruStage ZoneChoice Annuity
From MEMBERS Life Insurance Company comes TruStage’s ZoneChoice Annuity, which prioritizes flexibility and freedom of choice with either one-year or six-year terms. It features 12 different allocation options, including floors and buffers to protect against excessive losses. You can reset the floor to accommodate market changes at the end of every interest term. There is also the option for at-issue allocation, which allows for 11 risk control accounts.
TruStage Zone Income Annuity
The Zone Income Annuity, offered by MEMBERS Life Insurance Company, helps you minimize exposure to market downturns while earning index-linked interest based on your selected market indexes. You can choose from five investment allocation options with two risk control levels: Secure Account and Growth Account, tailored to your risk tolerance. Rate caps are set annually, while rate floors remain fixed for the duration of the contract.
MEMBERS Single Premium Immediate Annuity
CMFG Life Insurance Company offers the MEMBERS Single Premium Immediate Annuity, designed to provide stable, guaranteed income for the duration of the contract. This product is available for both individual and joint contracts, with options for fixed lifetime payments or installment payments. Lifetime payments are made on a monthly basis, while installment payments can be received monthly, quarterly, semi-annually or annually.
MEMBERS Future Income Annuity
CMFG Life Insurance Company offers the MEMBERS Future Income Annuity, providing guaranteed monthly lifetime payments that are protected from market volatility. The annuity also includes a cost-of-living adjustment (COLA), with options for a 1%, 2% or 3% annual increase to help combat inflation. Additionally, the annuity features an acceleration of benefits option, allowing you to receive up to six months of payments in a lump sum, available twice during the term of your contract.
Icon of a money saving flower Learn More About Your Annuity Options
Talk to one of Annuity.org's expert agents to see if an annuity is right for your retirement savings plans.
*Ad: Clicking will take you to our partner Annuity.org.
Start My Quote

Key Features and Benefits

TruStage annuities are designed to provide you with a reliable and flexible investment option, tailored to help you achieve your financial goals. With a range of key features and benefits, these annuities offer not only the potential for growth but also peace of mind through various protective measures. Whether you’re looking for tax-deferred growth, flexible disbursement options or low fees, TruStage has you covered.

  • Tax-Deferred Growth: TruStage annuities feature tax-deferred growth, many with guaranteed returns.
  • Protection: Some TruStage annuities provide protection from market downturns so you can limit your losses while benefiting from gains.
  • Allocation: There is much flexibility in your allocation level with several different options that allow you better risk control.
  • Disbursement: With many annuities, TruStage allows you to control how your funds are disbursed with options like monthly, quarterly and annual disbursements.
  • Fees: TruStage offers annuities with low fees, and in some cases, no fees at all.

Fees and Charges

Fees and charges vary depending on the annuity you select. Some annuities, like the Zone Income Annuity, may have a contract fee, and surrender fees could apply for early withdrawals, based on the contract year. However, the Future Income Annuity and MEMBERS Single Premium Immediate Annuity are designed to be fee-free, with no annual fees or administrative charges.

Before making your decision, it’s important to review the fee schedule to ensure the annuity aligns with your financial needs.

Customer Service and Financial Stability

According to AM Best, CMFG Life Insurance Company receives an A (Excellent) rating for financial stability, while TruStage earns a decent bbb+ (Good) rating. TruStage receives a similar rating from S&P Global of BBB+ for its financial strength, while CMFG Life Insurance Company earns an A+ rating.

For customer satisfaction, TruStage receives an A+ rating from the Better Business Bureau, although it is not accredited and earns just a 1.22 out of 5.00 customer rating. CMFG Life Insurance has similar results; it is not accredited but receives an A+ rating. However, its customer reviews leave something to be desired, with just a 1.23 out of 5.00 rating.

The NAIC does not provide data for TruStage, but CMFG Life Insurance shows a very low complaint ratio with just 26 complaints, representing just 0.05% of total market complaints.

Neither TruStage nor CMFG Life Insurance are included in the J.D. Power 2023 U.S. Individual Life Insurance Study or the J.D. Power 2023 U.S. Individual Annuity Study for customer satisfaction ratings.

Lock In Today’s Best Fixed Annuity Rates
Start with a free annuity consultation to learn how annuities can help fund your retirement.
*Ad: Clicking will take you to our partner Annuity.org.
Talk to an Expert

Evaluating TruStage Annuities

TruStage benefits from the backing of CMFG Life Insurance Company, which underwrites its annuities. This partnership allows TruStage to offer a variety of annuity options tailored to different risk levels and flexible payment disbursement choices. The company places a strong emphasis on customer service and satisfaction, reflected in its positive industry ratings. Additionally, TruStage provides excellent resources to help you better understand your annuity.

TruStage also offers the option to add an insurance policy to your plan, with several types of coverage available. This added flexibility provides an extra level of convenience that may not be offered by all annuity providers.

Does TruStage sell life insurance?
Yes, TruStage insurance is available, including life, auto, property, funeral and accidental death and dismemberment insurance.
Is TruStage the same as CUNA Mutual Group?
Yes, CUNA Mutual Group became TruStage in May 2023.
How do I contact TruStage?
You can contact TruStage by phone at 855-591-9026 or by fax at 608-236-8030. Alternatively, you can send a message through their website or mail correspondence to the address listed on their site.
Advertisement

Connect With a Financial Advisor Instantly

Our free tool can help you find an advisor who serves your needs. Get matched with a financial advisor who fits your unique criteria. Once you’ve been matched, consult for free with no obligation.

Last Modified: November 11, 2024
lena muhtadi borrelli headshot
Lena Muhtadi Borrelli Financial Writer
  • Over 20 years in finance, progressing from an intern at Morgan Stanley to supporting top financial advisors
  • Featured in major publications such as Forbes, TIME, Newsweek, Investopedia, Bankrate and others
  • Bachelor of Business Administration (BBA) and Bachelor of Applied Science (BASc) in Marketing, both from St. Petersburg College
Edited By
headshot of Michael Santiago
Michael Santiago, CRPC™ Senior Financial Editor

8 Cited Research Articles

  1. TruStage. (2024). About TruStage. Retrieved from https://www.trustage.com/about-us
  2. J.D. Power. (2023, October 12). Satisfaction with Life Insurance and Annuity Products Climbs as Customers Embrace Digital, J.D. Power Finds. Retrieved from https://www.jdpower.com/business/press-releases/2023-us-individual-life-insurance-annuity-studies
  3. TruStage. (2023, May 23). CUNA Mutual Group becomes TruStage™. Retrieved from
  4. https://www.trustage.com/newsroom/2023-press-releases/cuna-mutual-group-becomes-trustage
  5. Better Business Bureau. (n.d.). CMFG Life Insurance. Retrieved from https://www.bbb.org/us/ia/waverly/profile/insurance-companies/cmfg-life-insurance-0664-4000057
  6. Better Business Bureau. (n.d.). TruStage. Retrieved from https://www.bbb.org/us/wi/madison/profile/insurance-services-office/trustage-0694-23001629
  7. TruStage. (n.d.). Future Income Annuity. Retrieved from https://cunamutual.widen.net/s/jnhjdmfsxw/mfa-2435420_fia_factsheet
  8. TruStage. (n.d.). MEMBERS® Single Premium Immediate Annuity. Retrieved from https://cunamutual.widen.net/s/wdn8hvdjmt/spia-2435292_spiafactsheet_brochure_hr