TruStage has reported strong 2025 financial results across its life, annuity and protection portfolio despite a volatile macroeconomic backdrop and pressure on household finances.
The company ended the year with more than $6.1 billion in revenue, $312 million in net income, and $36.1 billion in assets under management. Its balance sheet strength was reaffirmed by ratings of A from AM Best, A+ from S&P, and A2 from Moody’s, signaling continued capital resilience and disciplined risk management.
“Despite inflationary pressures, market swings, and unpredictability, TruStage achieved strong results in 2025 and delivered on our promises to middle market consumers and partners,” said Terrance Williams, president and CEO of TruStage. “The ‘people helping people’ principle that has anchored us since 1935 remains our compass for the path forward, and I am incredibly confident in our future.”
TruStage paid more than $2.6 billion in total benefits during the year, serving 42 million consumers. That scale underscores the group’s reach in middle-market and credit union–affiliated distribution at a time when many life carriers are targeting similar demographics for protection and retirement products.
The company said it became the fourth-largest provider of life insurance sales in the US by policy count in 2025, reflecting growth in smaller-ticket protection products and broad access to everyday consumers.
The company's results come as the broader US life and annuity sector continues to grow, but with notable shifts in product mix.
Global premium growth is projected to run above trend at around 2.6% annually in real terms over the next two years, with non‑life moderating and life expected to drive more of the expansion.
In the annuity space, registered index‑linked annuities (RILAs) have been a major growth engine. LIMRA data show RILAs “smashing their historical records,” with $19.1 billion in sales in the second quarter of 2025 alone as investors look for “protected growth with attractive caps and participation rates.”
Against that backdrop, TruStage’s ZoneChoice RILA suite positions it as a challenger brand in a space still led by large, long‑established carriers. Its differentiation leans more on adviser experience and middle‑market design features than on pure volume.
In 2025, TruStage launched two new RILAs – TruStage ZoneChoice Advantage Annuity and TruStage ZoneChoice Income Annuity – expanding its lineup across accumulation and income strategies. One feature bases income on the older spouse’s age when spouses are within five years of each other, delivering higher guaranteed lifetime income for both, a design aimed squarely at married middle-market households.
The carrier also reported that ZoneChoice Advantage achieved 100% top-box adviser satisfaction, while its 2025 Annuities Advisor Voice of Customer survey showed overall adviser satisfaction at 96% and a Net Promoter Score of 73, the highest since 2022. Advisers highlighted "ease of doing business," "no-fee simplicity," and wholesaler support as key reasons for recommending TruStage's annuities.
TruStage also noted that electronic application "not in good order" rates remained around 6.7%, within best-practice ranges, and that policy issuance turnaround times outperformed industry benchmarks.
Beyond product and distribution, TruStage Ventures continued to build out a credit union–focused fintech ecosystem.
The venture arm now backs 67 portfolio companies with more than $400 million in total investment, supporting solutions across lending, member engagement, data, and risk management. That activity aligns with a broader trend of insurers using strategic venture capital to secure access to technology and embedded distribution rather than relying solely on in-house development.
