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HomeLife Insurance Company ReviewsCUMIS Life Insurance Company Review

CUMIS stands for the Credit Union Members Insurance Society. The company works closely with a variety of credit union partners and helps to serve more than five million members.

CUMIS is proud to have a very impressive portfolio of services to offer. These include insurance, wealth management, and retirement solutions.

Credit Unions, who are looking at their options, when it comes to life insurance programs will benefit from learning more about the services at CUMIS.

Individual Life Insurance

CUMIS offers its credit unions a few different individual life insurance opportunities. These include term life, permanent life insurance, and more.

CUMIS Term 10

Term10 life insurance is an incredible option for people who are looking for a fast, budget-friendly plan.

Coverage is offered for a limited time, and the family is paid if the person dies within the selected time frame.

It is an option that is ideal for families who are just starting out, couples who have just purchased a home, or people who want to cover funeral expenses.

Benefits of CUMIS Term10:

  • Large range of coverage options that go anywhere from $50,000 to $10 million
  • Many people can get this type of policy as it serves anyone between the ages of 16 and 75
  • When it comes time to renew, clients are guaranteed a particular price
  • Basic 30-day ‘free look’ to give people an idea of what they can expect

Key Features

Flexibility Coverage: This kind of plan is ideal since it can cover a person until they reach the age of 85. This means that they will have both short-term and long-term protection if they so choose to have it.

Plans can be renewed every ten years. Payment amounts are decided based on the client’s budget and their comfort.

Even a person whose health changes drastically during the plan will not be questioned at their renewal. Renewing is a settled option that is never denied overtime.

Other key features available with CUMIS Term10 include:

  • Conversion Privilege
  • Survivorship Benefit
  • Free Legal Fee Benefit
  • Extra Death Benefit

CUMIS Term20


For those people or families who are looking for even longer-term protection, the Term20 options might be perfect. This plan is ideal for those families who have a lot of costs and who still have kids who are dependent.

Benefits of the CUMIS Term20:

  • A wide range of coverages as low as $50,000 and as high as $10 million
  • 30-day ‘free look’ option that helps people to know if the plan is right for them
  • Can be bought by anyone who is between the ages of 16 and 65, allowing many people to have this option
  • Renewal rates are guaranteed

Key Features

Survivorship Benefit: Available with joint first-to-die coverage, this feature offers a surviving partner the option to buy their own CUMIS Term20 insurance within 90 days of the insured’s death.

There are no questions asked about this feature. Survivorship benefits make sure that an early death does not force a partner to use all of the death benefit gained on early expenses like mortgages and child care.

Other key features that can come with CUMIS Term20 include:

  • Flexible Coverage
  • Extra Death Benefit
  • Conversion Privilege
  • Free Legal Fee Benefit

CUMIS Term100

Even people who want long-range protection can find it at a friendly price with CUMIS. The CUMIS Term100 plan has very special features and can be helpful with income replacement, final expenses, and more.

One of the things about this protection that is most ideal is that it covers people’s assets even if they are moved into a care facility.

Benefits of CUMIS Term100:

  • Asset safety
  • Protection of your family
  • Lots of options for coverage, ranging from $25,000 to $10 million
  • The plan is permanent, so customers will always have that satisfaction
  • 30-day ‘free look’ period to see if the plan suits them well

Key Features

Nursing Home Benefit: This is included in the Term100 plan no matter who purchases the plan.

This feature is put in place to ensure customers that if they should ever be put into a nursing home, they can access their benefits to take care of their expenses.

This is a great choice for people who do not want to put a heavy burden on loved ones when they are put into a home. With the plan, customers can earn up to $3,000 per month.

This money helps to pay for nursing home costs, allowing people to stay in control of their finances without worry.

Other key features include:

  • Free Legal Fee Benefits
  • Survivorship Benefit
  • 20 Pay Option
  • Extra Death Benefit

CUMIS Universal Life


Universal life insurance is a permanent, detailed plan that offers customers all kinds of options. It mixes life insurance with tax-advantaged investing that can help to increase cash value.

For anyone who is looking for very flexible coverage, this is often the very best bet for insurance.

Benefits of CUMIS Universal Life Insurance:

  • Offers a tax-sheltered investment and insurance plan
  • Helps customers to grow their wealth over time while still protecting the family
  • Investment options that suit the personality of the insured
  • A full inheritance for loved ones
  • Affordable plans that allow the customer to decide on their coverage amount and premium payments

Key Features

Specific Market Focus: This product focuses on four main types of coverage including Family Suite, Estate Suite, Wealth Suite, and Business Suite.

Each of the suites is focused on different stages in a person’s life, as well as their financial goals.



The CUMIS Life Insurance Company is aware of the diverse needs of its clients. This is why the company offers such a wide range of plan options for insurance.

Those credit unions who are looking for an experienced partner should consider this well-established company.

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