Costco affords one life insurance coverage product by way of Protective Life Insurance. Protecting is a good insurance coverage supplier and the time period life coverage they provide is unique to Costco members.

Protecting is a financially steady life insurance coverage firm boasting “AA” scores from each Moody’s and Commonplace and Poor’s. In addition they have an “A+” from the Higher Enterprise Bureau. With that in thoughts, their insurance coverage fame ought to communicate for itself.

On the floor, their providing with Costco sounds prefer it may very well be a candy, unique deal. However, you’ll wish to dig in and see every thing their coverage affords earlier than you make your remaining alternative.

Right here’s every thing you should know:

Member Benefit Life UL Insurance

Coverage Particulars:


When contemplating Protecting’s life insurance coverage by way of Costco, you must think about what sort of deal you’re truly getting. Whereas Protecting is a good insurer, they’re solely providing you one sort of coverage, versus the complete breadth of Protecting’s choices. The phrases they provide are surprisingly brief in comparison with different insurers, at both 10 or 20 years. That is doubtless a means for Protecting to maintain prices down and provide reductions on their coverage.

Plus, regardless of its title, the coverage Protecting is providing is much less of a normal common coverage and extra of a time period coverage with the potential to develop into common. 

Alongside this, a medical examination is a part of the underwriting course of, though it’s lined by Protecting. To sweeten the deal for Costco members, Protecting additionally affords a reduction on premiums for the primary 5 years the coverage is in pressure. Exterior of a choice of further riders, that is actually all that their term life insurance coverage has to supply.

None of that is to say that Protecting’s insurance coverage product is dangerous. Quite the opposite, True Blue sells almost the identical product from Protecting, however we solely put prospects in it about 1% of the time. You may have t0 make certain the coverage is the proper match for you and your finest worth, so that you don’t wind up paying greater than mandatory. That is very true in the event you can probably get a greater deal from a distinct insurer primarily based in your well being historical past.

A observe about shopping for from a singular life insurance coverage supplier:

Since Protecting is just promoting one coverage by way of Costco, you don’t have many choices if they refuse you or the charges come again increased than anticipated. There’s nothing else they will give you.

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For those who have been utilizing an unbiased agent or brokerage as a substitute, they may take the outcomes of that medical examination and store it round to different insurers and discover you a greater match. As famous earlier than, Protecting is providing an excellent product as a Costco unique, however that doesn’t imply it’s a one-size-fits-all coverage.

For instance, in case you have a historical past of coronary heart illness or stroke in your loved ones, you can doubtless save 25% on premiums with a supplier like Banner over Protecting’s Costco coverage.

Once more, this isn’t a knock in opposition to Protecting, however extra a warning about selecting a handy choice over the proper choice. Each firm goes to suit your wants otherwise with various ranges of underwriting flexibility.

Options to Protecting’s Costco life insurance coverage:

For those who need assistance evaluating and buying round, right here’s a listing of a number of the options to Protecting, each with and with out medical exams, you must also think about:

Medical Examination Required

Need to speak to actual individuals who might help you kind by way of these options and discover the coverage that most closely fits your wants? Give us a name at  (866) 816-2100 or click here let our knowledgable agents shop for you!

After reviewing all of those options, you determine to go along with Protecting’s providing by way of Costco, right here’s what you should find out about making use of:

How does the applying course of for Protecting’s Costco life insurance coverage work?

In an effort to get a coverage from Protecting by way of Costco, you’ll begin by filling out their on-line software to get a quote. From there, they are going to get your member quantity and assist arrange cost choices. Then a customer support consultant will attain out and assist information potential insureds by way of the following steps. On a 20-minute cellphone name, they’ll speak to you about getting a paramedical examination, your medical historical past, and the underwriting course of at massive.

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Does Protecting provide any further riders for his or her Costco coverage?

On the similar time, this course of will contain going by way of and deciding what riders they’d like so as to add to their coverage. These further riders embrace:

In spite of everything of that, they are going to evaluation your software and analyze your medical historical past, examination outcomes and carry out a background examine. They’ll use that data to make their remaining resolution about accepting your software.

Is Protecting’s Costco life insurance coverage your finest deal?

Protecting’s providing by way of Costco is usually a whole lot, nevertheless it actually relies on your scenario.

As famous earlier than, Protecting can solely promote you this singular coverage, versus an unbiased agent’s breadth of insurance policies. Whereas they’re promoting a top quality coverage, additionally it is inherently restricted and might not be your finest match.

Though, in the event you discover that Protecting’s Member Benefit Life coverage most closely fits your wants, we encourage you to use by way of Costco. They may give the very best deal, providing reductions for the primary 5 years of your coverage.

However, in the event you’d wish to discover your choices additional and speak with a True Blue unbiased life insurance coverage agent, who represents over 30 corporations, we’re right here to assist. You possibly can click here to use our questionnaire and quote engine to compare and find the best policy.

Or, in the event you’d like to talk with one among our knowledgable brokers  immediately, you possibly can comply with the contact hyperlinks beneath:
Toll-Free: (866) 816-2100
E-mail: [email protected]
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Max Havey is a Senior Content material Editor for
True Blue Life Insurance. With expertise within the realm of journalism, content material writing, and ghostwriting, Max is bringing his experience to True Blue’s web site and wider content material initiatives.

He acquired each his Bachelor of Journalism and Grasp of Arts with a spotlight in journalism from the College of Missouri-Columbia in 2015 and 2017, respectively.