Alliant Credit Union Life Insurance – Coverage Options and Benefits

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Life insurance is an important part of any financial plan. Alliant Credit Union offers members access to competitive life insurance options from TruStage. Keep reading to learn about the different policies available, benefits of coverage, and how to apply.

Overview of Alliant Life Insurance Options

Alliant Credit Union provides the following life insurance choices from TruStage:

  • Term life insurance – Provides temporary coverage for a set period of time.

  • Whole life insurance – Offers lifelong coverage as long as premiums are paid.

  • Accidental death insurance – Pays out if death is due to a covered accident.

TruStage life insurance is only available to Alliant Credit Union members. The policies are competitively priced for credit union members.

Coverage is underwritten by CMFG Life Insurance Company. Alliant Credit Union works with TruStage to make these policies exclusively available.

Below we’ll explore the benefits, options, and details for each type of life insurance from Alliant and TruStage.

TruStage Term Life Insurance

TruStage term life insurance provides temporary coverage for a specific term length, such as 10, 15, 20 or 30 years.

It pays a tax-free death benefit to your beneficiaries if you pass away during the term. If the term expires and you are still living, coverage simply ends.

Here are some key features of TruStage term life through Alliant:

  • Coverage up to $250,000 – Maximum death benefit available without medical exam.

  • Terms of 10, 15, 20 or 30 years – Pick a term that meets your needs.

  • Level premiums – Rate is locked in for the entire term period.

  • Guaranteed renewable – Can renew up to age 70 without new medical exam.

  • Convertible – Can convert to a whole life policy in the future.

  • Living benefits – Access part of death benefit if terminally ill.

Why Choose Term Life Insurance?

There are many reasons TruStage term life can be a great choice:

  • Affordable – Very economical way to get life insurance protection.

  • Right amount of coverage – Pick a term and amount matching your needs.

  • Temporary coverage – Provides protection when you need it most.

  • Locked in premiums – Rates will never increase during the term.

  • Customizable – Tailor coverage term length and amount as needed.

  • Peace of mind – Your loved ones will be taken care of financially if you pass.

Term life insurance is fantastic for family breadwinners, new parents, and anyone needing temporary coverage.

TruStage Whole Life Insurance

TruStage also offers permanent whole life insurance coverage to Alliant Credit Union members.

Whole life provides lifelong protection as long as you continue paying premiums. Some key advantages include:

  • Lifelong coverage – Never expires as long as premiums are paid.

  • Level premiums – Rates are locked in when policy starts.

  • Cash value – Builds up guaranteed cash value you can borrow against.

  • Dividends – Earn dividends you can take as cash or use to pay premiums.

  • Guaranteed insurability – Can increase coverage in the future without new exam.

  • Living benefits – Access death benefit if terminally or critically ill.

Whole life is great for permanent family protection or leaving an inheritance. The cash value and dividends also make it a smart investment.

Comparing Term vs Whole Life Insurance

| Term Life | Whole Life |
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So what’s the deal with credit unions?

FAQ

What is Alliant Credit Union insured by?

Your accounts are federally insured! Alliant has stood financially strong since 1935. And you can rest even easier, because your money is federally protected by the National Credit Union Administration (NCUA). No member of a federally insured credit union has ever lost one penny of insured savings.

Is Alliant Credit Union trustworthy?

Is my money safe at Alliant Credit Union? Yes. Alliant deposit accounts are insured by the National Credit Union Administration (NCUA) for up to $250,000, per depositor, for each account ownership category, in the event of a credit union failure.

What does the NCUA not cover?

The NCUA does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investment or insurance products are sold at a federally insured credit union.

Does adding a beneficiary increase NCUA coverage?

All IRA and Roth IRA shares that an individual has in the same insured credit union are added together and the total is insured up to $250,000. Keogh accounts are insured separately up to $250,000. Note: Naming beneficiaries on a retirement account does not increase share insurance coverage.

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