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Costco Life Insurance Review 2020

  costco logo

My husband loves all things Costco, in fact he calls Costco his "mistress" (yuck)!

But there is one thing I have instructed my husband to never buy from Costco…

Life insurance.

Here's the problem with Costco life insurance: No variation!

They have 100 choices of wine & amp; beer, but only one life insurance company to choose from … and that's a big problem.

Read on to find out why … PLUS two other problems. I also tell you what to do instead if you want the absolute lowest life insurance rates.

"Costco Life Insurance exclusive offer"

  Costco life insurance review logo, Large red capital Costco on top with three blue lines under C and O, with Wholesale in all caps in the same blue color

Ok Costco, now you are in the middle wheelhouse!

… you have made me wonder, “[19659012] What can Costco offer my customers that I can not? "

In a word or two, not much!

Here's the FIRST problem:

Costco life insurance is not like Costco producing sections where you have dozens of choices

Costco only offers coverage from one company: Protective Life Insurance

Of course Protective is a very good carrier – I should know, because they are one of the companies we are contracted with, so we quote them and sell their products all the time.

… BUT … and this is a BIG BUT! Is Protective really the best choice for everyone?

No, it certainly is not!

Protective offers (but usually does not offer) the lowest price.

Compare Prices Now!

Did you know that even a few dollars a month can make a difference of $ 720 over a 20-year insurance period? have the best, and Protective does not always have it.

What about Costco, the huge one the warehouse store, which makes me open my purse and hand out my debit card again and again?

Costco Life Insurance, Your Health and Personal Relationships

There are actually many amazing things about Costco's life insurance company, Protective Life Insurance.

They are ranked A + with most financial credit companies.

It's a very good start. 19659003] They are also among our aggressive carriers who are better than average.

This means that they are willing to consider coverage for people with health problems.

Should I sell protective products to my customers? You bet!

I take them into account every time I make a quote. But that does not mean I would ever consider selling ONLY protective life insurance to ALL my customers.

Why not?

Because many other companies offer better approvals with special health problems and personal circumstances!

As an independent agent, people come to me to help them choose the best company with the best product that best meets their specific needs.

The catch here is that not all humans are created equal – that's for sure! For example, I'm a fluffy redhead with type 2 diabetes; my husband is on average built, with sleep apnea and birthday at three months; our son-in-law is in his late 30s with high blood pressure; my dad has heart disease and my next neighbor quit smoking 18 months ago.

Armed with actuarial tables from the company's claims history, the insurer will place you in a risk class based on the probability that you will terminate before your insurance matures, forcing the company to take a loss on you. Bankrate.com Top 10 Health Risks for Life Insurance Companies

Now you may be asking yourself right now "So what?".

Existing health conditions?

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Life insurance companies approach insurance differently

Well, in each of the above cases, Costco life insurance is probably NOT the best choice because Protective does not offer the most aggressive premiums for these special circumstances.

Each of the life insurance companies we deal with has its own strengths.

That's why it's so important to use an independent agent, because we have access to a comprehensive database that enables us to find the best possible prices for you. So let's see how protective is put together when it comes to common health problems:

Protective life insurance and smokers

Smoking : It is obvious that all insurance companies charge much less if you do not smoke. But what happens if you smoke cigars, pipes or if you are an e-cigarette user?

Well, in that case you should not call Costco. Protective will rate you as a SMOKER. Smokers can expect to pay double or more for their premiums!

However, if you use an independent agent, such as Huntley Wealth Insurance, we can place you with a company that can provide you with a non-smoker, despite your use of tobacco products!

Quit smoking? Good for you! But do not call Costco if you quit 1-2 years ago. Protective will not rate you as well as other carriers, which means higher prices!

RELATED: Check Examples of Life Insurance Rates by Age (No personal information required)

Protective Life Insurance and Mental Health

PTSD and Social Security : This is a tough issue for any life insurance company. Some will consider you case by case, but unfortunately not protective.

Depression : Many people struggle with this or other mental states, and you would never even know it. If this is you, please do not just apply through Costco, as you will miss out on a more cost effective offer from other carriers.

Protective and Personal Conditions

Nearest Age : Protective uses your nearest age (like most other carriers) to determine the price you will pay. Since my husband has a birthday in three months, he is already priced as one year older than his actual age.

Some carriers use the actual age, such as Prudential and Mutual of Omaha, so they may be a better choice for people approaching a birthday!

Family History : Privacy Guidelines do not allow clients to receive top marks if they have a parent or sibling with a history of heart disease or certain cancers. They will offer these customers the second best rating, which means a higher price for coverage. A good independent agent will direct you to the insurer that gives you the best rating.

This means you will save money despite your family history.

19659045] Protective and other common health conditions

Sleep apnea : My husband has sleep apnea. It is a common but serious disease that requires treatment. You will do better with another carrier for this condition because Protective is quite strict when it comes to compliance.

GERD with Barrett's Esophagus : GERD stands for Gastric Esophageal Reflux Disease. It can be severe enough that cell changes occur in the esophagus, which can lead to a precancerous condition called Barrett's Esophagus.

So that's why doctors say you should not ignore your heartburn. It can actually get pretty serious! This is another condition that is better covered by another insurance company.

Since Protective is not as aggressive about this condition as some of the other companies we use, this would be another example of why you should watch out for Costco life insurance.

The result is higher premiums.

Type 2 Diabetes : According to the CDC, over 29 million people in the United States have diabetes, so this is a disease that affects many of us. [19659003] If you have type 2 diabetes, do not turn to Costco for the cheapest life insurance. Protective is not the most aggressive carrier in this condition.

Prostate cancer : Another very common disease, but not one that is best suited for coverage from Costco. You need a skilled independent agent to find the best product for you.

  Life insurance without a degree

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The quote is fast, easy, and free! [19659077] Service … And Why You Should Compare Prices

Here's another issue with Costco life insurance and protection.

Call them and you will get a call center.

Call Huntley Wealth, and you & # 39; I get one from just a handful of our warm and friendly agents. We are smaller, so we can offer better, more tailored service.

Before you add life insurance to the Costco trolley with high bargains, remember, life insurance needs more scrutiny than your trip along the busy store allows.

Before applying for a protection policy through Costco, please do yourself a favor and call your favorite independent life insurance staff.

We can target the perfect insurance company for your individual needs and this translates into significant savings!

I am a mother and grandmother with a family that I love very much.

It goes without saying that there are a number of people I need to keep in mind when it comes to life insurance.

something would happen to me, my beneficiaries will be taken care of completely. So I am well aware of the needs and concerns of families and how different the circumstances may be.

As independent agents, we have access to dozens of the best life insurance companies.

Do you have questions or do you need advice? No problem!

We're here to serve you and not the life insurance companies. We build long-term relationships with all our customers and specialize in high-risk life insurance for existing medical conditions.

So if you have specific needs, we are well equipped to give you good advice.

Call Huntley Wealth and Insurance Services today at 888-603-2876 today. We can help!

Find out if you qualify for Special Insurance Life Insurance

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* While doing our utmost to keep our site up to date, please be aware that "current" information on this site, such as quotation estimates or relevant company information, may only be accurate as of the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Please contact your own legal or tax advisor.

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