To cancel a TruStage life insurance policy, send the insurer a signed, dated written request that names your policy number and the date you want coverage to end, then confirm in writing that the policy has terminated and the billing has stopped. TruStage coverage is issued by CMFG Life Insurance Company, so the request goes to the insurer, not to your credit union.
TruStage life insurance is underwritten by CMFG Life Insurance Company and is distributed through thousands of credit unions across the country.
The credit union part is what trips people up
Because TruStage is offered through credit unions, many people first met this policy at their bank and assume the credit union controls it. It does not. The credit union introduced the coverage; CMFG Life issues and administers it. That matters in two practical ways. First, asking your branch to cancel is not the same as asking the insurer, and a branch cannot terminate a contract it did not issue. Second, if the premium comes out of a credit union account automatically, stopping the draft at the bank does not cancel the policy. It only stops the payment, which starts a lapse rather than a clean cancellation. Do both, in the right order: cancel with the insurer first, confirm the termination, then stop the draft.
How to cancel, step by step
- Find your policy number. It is on the policy itself and on any statement. Work from your own documents rather than from a letter you were not expecting.
- Put the request in writing. Sign and date it, name the policy number, and state the exact date you want coverage to end. A phone call alone leaves you nothing to point at later.
- Say if you are inside the free-look window. If the policy is new, your state may entitle you to a full refund. Make that request explicit rather than assuming it is applied.
- Ask for written confirmation. You want the termination date and, if there is cash value, the amount being released. Keep it.
- Stop the payment last, not first. Only once the insurer has confirmed the policy has ended. Stopping the draft first creates a lapse rather than a cancellation, which is messier and can cost you the cash value.
What to check before you send it
These are the things people most often wish they had looked at first. None of them are reasons not to cancel. They are the difference between a decision and a regret.
- Which TruStage product you actually hold. TruStage offers term, whole life, and guaranteed acceptance coverage, and they behave very differently when you cancel. Term generally has no cash value to lose. Whole life may have accumulated some. Guaranteed acceptance coverage is the hardest to replace later, because it was issued without health questions.
- Whether the premium is drafted from a credit union account. Note the exact account and the draft date. You will want to confirm the final draft has cleared and no further ones are scheduled once the insurer confirms termination.
- Any accumulated cash value. If you hold whole life, the current statement shows the cash surrender value. Surrendering ends the coverage and releases that value, and any portion above what you paid in can be taxable. Your statement or the insurer can give you the current figure.
- Whether your health has changed since you applied. This is the single most expensive thing to overlook. Coverage issued years ago was priced on the health you had then. If your health has changed, replacing it can cost meaningfully more, or may not be available on the same terms.
When cancelling is the right answer
Cancelling is genuinely the right call when the coverage no longer matches your life. If the mortgage that the policy was meant to cover is paid off, if the children it protected are grown and independent, or if you are carrying two policies that do the same job, then ending one is a reasonable, considered decision rather than a loss.
Common questions
How do I cancel a TruStage life insurance policy?
Send CMFG Life Insurance Company, the insurer behind TruStage, a signed and dated written request that includes your full name, policy number, and the date you want coverage to end. Ask for written confirmation that the policy has terminated and that billing has stopped. The contact details for policy service are printed on your policy documents and statements.
Can my credit union cancel the policy for me?
No. Your credit union may have introduced you to the coverage, but the contract is with CMFG Life Insurance Company, and only the insurer can terminate it. Asking the branch to stop the payment stops the money, not the policy, which starts a lapse instead of a clean cancellation.
Will I get any money back when I cancel?
It depends on the product. Term coverage generally has no cash value, so there is nothing to return beyond any unearned premium. Whole life may have built cash surrender value, which is released when you surrender the policy. Any amount you receive above the total premiums you paid can be taxable, so it is worth knowing the figure before you decide.
What if I only just bought the policy?
Every state gives new policyholders a free-look period, commonly ten to thirty days from delivery, during which you can cancel and have your premium returned. Many states give buyers age sixty and over a longer window. If you are inside that window, say so explicitly in your written request. Our state-by-state guide lists the window where you live.
Will my coverage end the day I ask to cancel?
Not usually. Most life insurers end coverage on the next premium due date or on the date they process a signed request, whichever the contract specifies. That gap matters, because until the policy actually terminates you are still covered. Never treat a phone call as the end of it: confirm the termination date in writing and keep the confirmation.
Should I just stop paying instead of cancelling?
It is simpler than it looks to do this badly. Stopping payment starts the grace period, and if the policy has cash value the insurer may keep it in force by taking loans against that value, which can quietly drain it. A written request creates a clean, dated record of what you asked for and when. Cancelling on purpose is always tidier than lapsing by accident.
I got mail about a TruStage policy and I am not sure it is real. What should I do?
TruStage does market by mail through credit union relationships, so legitimate mail is common. Rather than acting on the letter, check the policy number against a statement you already have, or contact the insurer using the details on your own policy documents rather than a number in the letter. That habit protects you whether the mail is genuine or not.
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Before you cancel, get one honest read on it.
A licensed professional will go through your TruStage policy with you, tell you what it is worth today, what you would lose by ending it, and whether anything better is actually available at your age and health. We are independent, and a review that ends in keep what you have is a perfectly good outcome.
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This guide is general information, not legal, tax, or financial advice. Cancellation terms, refunds, and free-look windows depend on your contract and your state. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.