Whole life insurance
What is whole life insurance?
A whole life insurance policy from TruStage is meant to offer lasting coverage, as long as premiums are paid. It provides a guaranteed death benefit for your beneficiaries, and most policies also build cash value over time. That means you get long-term coverage today, with the potential for additional financial support later in life.
Coverage that lasts
Whole life insurance stays with you for life, providing a guaranteed payout to your beneficiaries when a claim is submitted. They can use the money for funeral costs, medical bills or everyday expenses — helping ease financial stress during a difficult time.
Understanding your rate
Once you have applied and selected your preferred amount of coverage, you’ll lock in your best available monthly rate. The price you qualify for is based on a variety of factors, but once you activate your coverage, your rate will never increase. As you age or your health changes, you won’t need to worry about added costs on your whole life policy.
Building cash value
Whole life insurance includes a cash value component that grows over time. A portion of each premium goes into an account you may be able to borrow from later in life. Some people use this money to help with big expenses — like medical expenses or even retirement needs.
Built for convenience
Applying for coverage is straightforward and hassle-free. Since no medical exam is needed, you’ll only have to answer a few questions from the comfort of your home. Most applicants receive a quick decision, and once you’re approved, your coverage will start with your first payment.
Coverage that lasts
Whole life insurance stays with you for life, providing a guaranteed payout to your beneficiaries when a claim is submitted. They can use the money for funeral costs, medical bills or everyday expenses — helping ease financial stress during a difficult time.
Understanding your rate
Once you have applied and selected your preferred amount of coverage, you’ll lock in your best available monthly rate. The price you qualify for is based on a variety of factors, but once you activate your coverage, your rate will never increase. As you age or your health changes, you won’t need to worry about added costs on your whole life policy.
Building cash value
Whole life insurance includes a cash value component that grows over time. A portion of each premium goes into an account you may be able to borrow from later in life. Some people use this money to help with big expenses — like medical expenses or even retirement needs.
Built for convenience
Applying for coverage is straightforward and hassle-free. Since no medical exam is needed, you’ll only have to answer a few questions from the comfort of your home. Most applicants receive a quick decision, and once you’re approved, your coverage will start with your first payment.
Is whole life insurance right for you?
Whole life coverage is designed to last a lifetime and provide confidence that you’re working to financially plan for your beneficiaries, especially as needs change over time.
Some things to consider:
Your responsibilities
If others — such as children, a spouse or aging parents — rely on your income, whole life insurance could help ensure that they’re financially supported when you pass away.
Accumulated cash value
Whole life insurance builds cash value over time, giving you an amount you may be able to borrow from later to help with major expenses.
Fast claims payment
Most claims are paid in 10 days or less,¹ so your loved ones can receive the money quickly, generally income-tax-free.
Final expenses
Funeral costs and medical bills can be overwhelming. A guaranteed payout helps ease this burden for your family at a difficult time.
Long-term stability
Life changes; your coverage shouldn’t. Whole life insurance remains steady and dependable, which can be valuable in your financial planning.
Compare policy features
| Features | Whole life | Term life |
| Pays a death benefit |
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| Designed to provide coverage your whole life |
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| Policy builds cash value |
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| Monthly rates may change over time |
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| Monthly rates stay the same for life |
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| No medical exams |
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| Coverage begins with your first payment |
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Learn more
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Whole life insurance is designed to last the rest of your life, unlike term life insurance, which covers only a set number of years. That means you don’t have to worry about renewing your coverage. Also, your rate won’t change, and your coverage will not be canceled if you develop health problems as you get older. As long as you keep your payments up to date, your insurance will remain active.
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Life insurance could help prepare your loved ones by providing a guaranteed payout that is generally income-tax-free to assist in covering daily expenses, funeral costs, medical bills or future financial needs. A whole life insurance policy could help you better plan for your financial future, as it builds cash value that you could borrow against.
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In addition to paying a cash benefit to your loved ones whenever you die, whole life insurance policies build something called cash value, which could be helpful to you and your family while you’re alive. Every month, part of the payment you make on your insurance policy is put into a tax-deferred account (meaning you don’t pay taxes on it unless you withdraw it). This money earns interest at a set rate of return, like a savings account. You may borrow from this cash value as it grows to help pay for things your family needs.
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Term life insurance is designed to cover you for a set period of time, often at a lower initial cost. Whole life insurance lasts your entire life and may build cash value over time. Term life could be a good fit if you need affordable coverage now, and as your needs change, you could convert to a whole life policy. Whole life may be a better option if you want lifelong coverage and a monthly rate that will never change.
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It’s easy to get started. Just enter your ZIP code, gender and date of birth to see a price and choose the amount of coverage that’s right for you. When you’re ready, you can apply entirely online for a quick decision. And once you lock in your rate, it won’t change.
Why choose TruStage?
Trusted by millions
Over 42 million people trust TruStage for insurance solutions tailored to real-life budgets and needs.²
Financial strength
CMFG Life Insurance Company, a TruStage Company, was rated “A” (Excellent) as of December 2025 by A.M. Best.³