The Costco Connection - September 2017

I HAD TO take out a loan to cover expenses for my father’s funeral when he passed away unexpectedly five years ago. My siblings and I were lucky to have extended family who helped us financially, until we could come up with the funding. It was overwhelming, especially during such an emotionally difficult time.

After that experience, I purchased life insurance for the first time so my family would not have to worry if something should happen to me. Turns out, our struggle is not uncommon. One in three households would have immediate trouble paying living expenses if the primary wage earner died, according to the ;;;; Insurance Barometer Study by Life Happens, a nonprofit organization ( lifehappens.org), and LIMRA, a financial services research trade association ( limra.com).

“We tend to shy away from talking
about life insurance because it reminds us
that we’re mortal, and it’s uncomfortable
to think about what would happen to our
family if we were to die unexpectedly,” says
Aaron Seurkamp, senior vice president for
Protective Life Insurance Company,
Costco’s life insurance provider. But decid-
ing to purchase life insurance is just the
beginning. According to the same study,
;; percent of people haven’t purchased life
insurance because they are unsure of how
much they should get or what type to buy.

Protective Life Insurance Company, with more than ;;; years of experience, wants to inform members about how easy it is to acquire life insurance coverage for their families at considerable savings compared with similar products.

“Protective Life Insurance Company
offers Costco members plans that are flex-
ible, low-priced and easy to enroll in,” says
Lisa Castaneda, Costco’s insurance ser-
vices manager. “The simple online applica-
tion process also makes it very easy to get a
free quote.”
In addition to allowing members to
apply over the phone or online, Protective
Life Insurance Company has a website
that provides resources to help educate
members about both the product and the
process of buying life insurance.

“Costco and Protective make it easier to protect your family’s future with a valuable and exclusive product at a significant savings over similar products, from a

CONNECTING

For a fast, free quote, visit protective.com/
costcogetaquote or call 1-844-743-5433.
trusted company,” Seurkamp
says. “Protective and Costco
have been working together to
bring an affordable, valuable
insurance product to Costco
members for two and a half
years, providing more than ;;.;
billion in coverage.”
People should consider buy-
ing life insurance as soon as
someone else is relying on their
income, Castaneda says. Other
opportunities to reevaluate your
insurance needs include when
you change employment, have a
child, purchase a house, send
your children to college or experi-
ence a change in marital status.
Most people underestimate
how much coverage their family
will need; as a result, they might not obtain
enough to cover all their protection needs,
Seurkamp says.
“Some experts recommend a coverage
level of ;; times the annual income of the
insured individual, plus any outstanding
financial obligations, including mortgage,
car loan and credit card debt,” he says.
“Generally, people are told to factor in the
amount it will cost to pay for child care as
well as sending their children to college, in
order to arrive at the rough amount of cov-
erage they might want to consider.”
“As a Costco member, you may want to
check out the life insurance service
offered to you through Protective Life
Insurance Company,” she says. “The real-
ity is getting quality coverage is easier and
more affordable than people often think.
And you’ll feel better knowing that your
family is protected.” C