TruStage subsidiary CUMIS Insurance Society filed a new product in Texas called Payment Guard Advantage, designed to provide lump sum payments to consumers who experience involuntary job loss or total disability. The coverage is marketed directly to individuals through digital channels and affiliate partners, with future distribution potentially expanding to appointed agents.

The policy pays a one-time benefit for job loss and one-time benefit for total disability during each 12 month policy term, subject to waiting periods, exclusions, and a lifetime aggregate maximum benefit. Initial filings show example benefit amounts of $1,000 per event with a $25,000 lifetime cap and monthly premiums starting around $5.30 for combined coverage.

The filing includes underwriting restrictions around pre-known layoffs, self-employment, contract workers, seasonal work, union hiring hall referrals, misconduct-related terminations, and pre-existing medical conditions. The insurer also reserves the right to nonrenew coverage with 60 days notice prior to renewal.