CMFG Life – now known as TruStage – has submitted a filing in Idaho for a new individual insurance product called Payment Guard Advantage, designed to provide financial protection when consumers experience involuntary unemployment or total disability.
The filing was submitted on March 3, 2026, and includes both forms and rates for the product under the individual disability income line of business.
Payment Guard Advantage provides a lump sum benefit intended to help policyholders cover financial obligations during unexpected income disruptions. The policy allows one benefit payment for job loss and one benefit payment for total disability during each 12 month policy term, subject to waiting periods, exclusions, and lifetime maximum limits.
The coverage is expected to be distributed primarily direct to consumers through digital marketing and affiliate partnerships, with applications submitted electronically using an e signature process.
The policy renews annually and can be canceled by the insured at any time, while the insurer may cancel coverage with 60 days notice prior to renewal.
Sample policy terms in the filing show relatively small benefits paired with low premiums. For example, a policy with a $1,000 lump sum benefit for both job loss and disability carries a monthly premium of $5.60, with a lifetime aggregate maximum benefit of $25,000 across all Payment Guard Advantage policies held by the insured.
The rating structure incorporates factors such as occupation class, age, underwriting strength, affiliate distribution channel, and unemployment risk charges. Claim cost assumptions include $0.32 per $100 of coverage for disability and $0.35 per $100 for involuntary unemployment, along with adjustments for expenses and distribution methods.
The insurer noted that the product was filed directly with the state regulator because the Interstate Insurance Product Regulation Commission does not currently have standards for this type of coverage design.
The program blends disability and payment protection coverage and is intended to provide short term financial relief when income disruptions occur.