TruStage – Insurance the Credit Union WayOn March 10, 2020 by Raul Dinwiddie
Hi everybody! Dave Sullivan here, for
People Driven Credit Union, part of the marketing team. I’ve got a very special guest: Hi! I’m Don Murphy with CUNA Mutual Group. I am a specialist for the TruStage program that
People Driven Credit Union endorses. Don, how long have we worked together, with you guys? The partnership between People Driven and
CUNA Mutual group is about eight years, now. Okay, great!
We very much appreciate it. What type of services do you offer our
members? The TruStage program has three primary products, Dave. Auto and home insurance, which most of your members are going to need, obviously. and then, accidental death & dismemberment
and life insurance as well. So everybody kind of knows what life insurance is. But why don’t you tell us a little bit about accidental death & dismemberment insurance. AD&D is kind of an antiquated term, right? So, I’ll try to explain it in a way that makes a little more sense. It is a little bit less coverage in terms of
what life insurance covers. Accidental Death & Dismemberment
is what it sounds like. So, if you were to pass away from an accident
or had a terrible injury whether that’s at work or or anyplace else, AD&D is going to pay out a claim based on what happens. It’s more affordable than life insurance
because it covers less. So, for many credit union members it can be a starting point into insurance if going directly into life insurance isn’t affordable right now, for them. Okay, but, will it cover if they get hurt, or if they were to lose a limb in an an accident, outside of an auto accident? Absolutely! that’s exactly
what dismemberment means, is … …things like loss of sight; loss of hearing; loss of a limb; those are going to be the types of injuries that are covered by this and most of it is kind of event agnostic. So it doesn’t necessarily matter whether it’s an auto accident, sporting accident, whatever may happen. Okay. But far more likely to happen than death, right, statistically? Statistcally, absolutely! And that’s why it’s important and that’s why we market it directly to credit union members for awareness and to help members get a starting point, like I said if coverage is something that they just
haven’t thought of, because of affordability Now, in Metro Detroit, in Michigan, our insurance rates are very high. Highest in the nation. Usually, highest in the nation, the last couple of years. I know that’s
partly because of laws and the accident rate but you know a lot of our members have taken advantage of shopping for insurance on a regular basis and reaching out to TruStage to compare rates. How often do you think somebody should do that? I would say annually is probably a pretty good cadence. More often than that and you might not have enough change in your insurance history … to warrant making a change or see much savings in that. So annually is what we recommend. and obviously you want to be careful with your credit and your driving record, right? Absolutely! Both of those can contribute to what you pay for your auto insurance.
Okay! What makes you guys and our relationship better? Why should people consider shopping with us for their insurance? That’s a great question! I appreciate the question! TruStage is, very simply, insurance the credit union way. That’s the way that we built this program. CUNA Mutual group is essentially a credit union only insurance company and TruStage is the platform for these consumer insurance products. So this program has about 37 years of history of protecting credit union members. We now protect over 20 million credit union members across the United States. and about 86 percent of credit unions endorse this program, this product. On the auto side specifically, we partner with Liberty Mutual as our partner, because they meet the standards that we demand for credit union members in terms of service, claims, affordability. Liberty Mutual has built in a 10%
discount on auto coverage for credit union members. 5% on home Those are standard in Michigan and those discounts are primarily why most credit members in Michigan can save money by moving to Liberty Mutual And we’ve found that far more of our members are taking advantage of this discount then even other credit unions
in the area so hopefully, you know, if you’re not already at least getting a quote, you can go to our website and get a quote Absolutely! So members can go directly from the People Driven website to TruStage.com. You can initiate a quote online, over the phone. Those are the two ways that we would recommend getting started and frankly, I would recommend to most members to pick up the phone at some point even if you are 90% of the way through an auto insurance quote. Liberty Mutual has carved out a section of their call center, only for this true stage program . So they have about a hundred and twenty dedicated agents, only answering the phone for credit union members, to ensure that you’re getting the discounts that you should get; That the coverages are correct; So that you’re not sacrificing coverage for cost, which is a mistake! So don’t ever hesitate to pick up the phone If you’re a credit union member and make sure that your quote is getting you what you should. Great! Well, I appreciate you coming in. Hopefully, our members will take
advantage of this. I know I have, and I have saved some money and like I said, you really need to shop, I would say, once a year. Once a year, absolutely! Maybe tax
time, you know. Whatever time makes sense for you. But once a year is the right timing. Great!
Well, thanks for coming in!