Costco Life Insurance Review [2024]
Costco life insurance averages $10 monthly, and you can get up to $5 million in Costco term life insurance. Customers enjoy Costco life insurance benefits like discounts and affordable add-ons. Read this Costco life insurance review to see how Costco life insurance stacks up against the competition.
Tim Bain
Founder & Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Founder & Life Insurance Agent
UPDATED: Aug 9, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Aug 9, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Costco Life Insurance
Average Monthly Rate For Good Drivers
$10A.M. Best Rating:
A+Complaint Level:
LowPros
- Costco members can save up to 15% on their rates.
- Costco life insurance quotes tend to be affordable.
- Most Costco members can fill out an application online.
Cons
- Costco only sells term life insurance policies.
- Your life insurance rates will begin to increase after you’ve had it for six years.
- Only Costco Gold Members are eligible to purchase a policy.
Costco life insurance is a great option if you’re already a member and looking for term life. The average Costco member pays $10 per month. However, your rates will increase after you’ve had your policy for five years.
Although Costco life insurance is a great option, you should always compare your options. Explore our Costco life insurance review to see if a policy is right for you.
What You Should Know About Ameriprise Auto & Home Insurance (Costco)
Life insurance is one of the many services Costco offers its members, but it doesn’t cover the needs of every customer. Costco doesn’t sell life insurance directly – instead, Protective Life underwrites policies for Costco members.
Costco life insurance costs tend to be lower than many other companies, but it only sells term life policies. Although it only sells term policies, Costco offers several types of life insurance riders so customers can customize their plans.
Learn more about your options by exploring the Costco life insurance review below. Then compare quotes with as many companies as possible to find the right plan for you.
Costco Life Insurance Pros and Cons
It’s always important to compare your options when buying life insurance. One of the best ways to quickly determine if a company is right for you is to look at the pros and cons. When you buy a policy using your membership, Costco life insurance benefits include the following:
- Costco life insurance quotes tend to be about 15% cheaper than other companies
- An accelerated life insurance death benefit is available for some customers
- Costco members can apply online
For as many advantages as Costco’s life insurance offers, there are also a few drawbacks. Before signing up for a policy from Costco, you should be aware of the following cons:
- The only coverage option is Costco term life insurance
- You must be a Costco member to purchase a policy
- Costco life insurance premiums increase after five years
While keeping these pros and cons in mind is helpful, you’ll need more information to determine if Costco life insurance is right for you.
Costco Life Insurance Customer Service and Financial Ratings
Generally speaking, Costco life insurance receives good ratings for its customer service and financial strength. A.M. Best rates Costco life insurance with an A+, meaning you don’t have to worry about your beneficiaries receiving your death benefit.
The National Association of Insurance Commissioners (NAIC) rates companies on the number of complaints they receive compared to their size. Costco has a very low rating of 0.19, meaning it receives fewer complaints than similarly-sized companies. In particular, customers report high levels of satisfaction with Costco life insurance claims handling.
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Exploring Ameriprise Insurance Options Through Costco
When it comes to insurance, Costco members have unique opportunities to access Ameriprise products. Understanding the specifics of Ameriprise auto insurance and car insurance through Costco can help you make informed decisions. This guide will walk you through the essentials of Ameriprise insurance available through Costco, from coverage options to customer reviews and login details.
What Is Ameriprise Insurance Through Costco?
Ameriprise Auto Insurance Through Costco provides Costco members with access to specialized auto insurance plans. Ameriprise Car Insurance Through Costco offers various benefits tailored to Costco members, often including competitive rates and exclusive options.
Key Benefits:
- Ameriprise Auto Insurance at Costco often includes special pricing or discounts available only to Costco members.
- Ameriprise Car Insurance at Costco may come with additional perks or riders that are not available through other channels.
Ameriprise Insurance at Costco: Coverage and Options
Ameriprise Insurance at Costco offers a range of coverage options designed to meet diverse needs. Whether you’re interested in auto, home, or other insurance products, Costco provides a convenient way to explore and access these services.
Coverage Options Include:
- Ameriprise Auto Insurance Through Costco: This includes liability, collision, and comprehensive coverage tailored to Costco members.
- Ameriprise Home Insurance Through Costco: Offers protection for your home and belongings, with potential discounts for Costco members.
Ameriprise Insurance Review for Costco Members
When evaluating Ameriprise Insurance Reviews, particularly for Costco members, it’s important to consider both the benefits and potential drawbacks. Reviews of Ameriprise Insurance Company often highlight the unique features and customer experiences associated with policies purchased through Costco.
Customer Feedback Highlights:
- Ameriprise Auto Insurance Reviews generally focus on the affordability and customer service aspects.
- Ameriprise Car Insurance Reviews might mention specific experiences related to claims and coverage options.
How to Access Your Ameriprise Insurance through Costco
To take advantage of Ameriprise insurance offers through Costco, you’ll need to navigate a few steps. Here’s a straightforward guide:
Steps to Access Your Policy:
- Ameriprise Costco Login: Visit the Costco website or Ameriprise’s dedicated portal.
- Ameriprise Insurance Login for Costco Members: Use your Costco membership credentials to log in and manage your policy.
- Ameriprise Insurance Available Through Costco: Explore available products and select the insurance plan that suits your needs.
Evaluating Ameriprise Insurance Ratings and Reviews
Understanding Ameriprise Insurance Ratings can provide insights into the company’s financial stability and customer service quality. Ameriprise Insurance Reviews offer detailed perspectives from policyholders, helping you gauge overall satisfaction.
Considerations:
- Ameriprise Insurance Reviews offer varied opinions that can help you decide if their offerings align with your needs.
- Ameriprise Insurance Review for Costco Members focuses on experiences specific to those who purchased insurance through Costco.
By exploring these elements, you can make a well-informed decision about whether Ameriprise insurance through Costco is the right choice for you.
Understanding Ameriprise Auto and Home Insurance Through Costco
When considering Ameriprise Auto and Home Insurance Reviews, it’s valuable to understand how the options available through Costco compare with other providers. Ameriprise Home Insurance Through Costco offers a range of benefits, including potentially lower rates and exclusive coverage options. Reviewing Ameriprise Home Insurance Reviews can give insights into the experiences of other policyholders who have chosen this route.
Comparing Costco auto and home insurance reviews, Costco auto home insurance reviews, and Costco home and auto insurance reviews provides a broader perspective on how these products perform. Additionally, evaluating Costco home and car insurance, Costco home insurance quote and Costco home insurance reviews will help you gauge the overall value and satisfaction associated with Costco’s insurance offerings.
Ameriprise Auto & Home Insurance (Costco) Insurance Coverage Options
Although there are many types of life insurance policies on the market, Costco only sells one — term life. One of the reasons why Costco is one of the cheapest life insurance companies is that it only offers one plan. Unfortunately, there is no Costco whole life insurance.
Term life insurance covers you for a set period. Costco members have the option of a 10 or 20-year plan ranging in coverage between $100,000 and $5 million. Like most life insurance policies, you’ll probably need to undergo a medical exam before signing up, typically including an interview and bloodwork.
However, some Costco members might be eligible for accelerated underwriting, which means they can skip the medical exam. When it comes to how much term life insurance you can buy with accelerated underwriting, it depends on your age. 18 to 45-year-olds can purchase up to $1 million, while people aged 46 to 60 can buy up to $500,000.
Unfortunately, you won’t be able to buy life insurance with accelerated underwriting from Costco if you’re over 60. If you’re interested in no-exam life insurance when you’re older, consider Colonial Penn life insurance for seniors.
Costco Life Insurance Riders
Although Costco only offers one type of life insurance, it has several riders to choose from. These include:
- Accidental death benefit. This rider increases your monthly rates but will pay your beneficiary a larger benefit if you die in a covered accident.
- Children’s term. You can add coverage for a child under the age of 18. Once they come of age, their coverage ends, but they’ll have the option of converting into a separate policy.
- Terminal illness accelerated benefit. Purchasing this rider allows you to use up to 60% of your death benefit to cover medical expenses if you become terminally ill. This rider is automatically included in your policy for no extra charge.
- Waiver of premium. Policyholders between 18 and 55 can add this rider to their policy for an extra cost, which suspends your premiums if you become disabled.
While there are only four riders available, most customers appreciate the opportunity to customize their policies.
How to File a Costco Life Insurance Claim
Filing a Costco life insurance claim is easy, with two options available. You can use the Protective online claims tool or call the claims number at 800-424-1592. You’ll need the policy number and policyholder details to make a claim.
Costco Life Insurance Online Offerings and Mobile App
Although Protective Life has a mobile app, it’s designed to manage auto insurance policies rather than life plans. However, you can manage your account through the Protective website.
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Exploring Costco Auto Insurance Options
When it comes to Costco auto insurance, members can benefit from a range of services designed to offer value and convenience. For those looking to get started, the Costco auto insurance phone number is available for inquiries and assistance. To find the best deal, you can request Costco auto insurance quotes which will provide you with an estimate of your potential premiums.
Understanding Costco auto insurance rates is crucial in determining how this option compares with others in the market. Additionally, reading Costco auto insurance reviews can provide you with feedback from current policyholders, helping you make an informed decision.
Overview of Costco Health Insurance Options
Costco Group Health Insurance offers various Costco health benefits to its members, making it a notable choice for those seeking comprehensive Costco health coverage. Whether you’re an individual or a small business owner, Costco health insurance for members provides a range of options to suit different needs. For small businesses, Costco health insurance for small business is available to support employee wellness.
You can explore different Costco health insurance plans to find coverage that meets your requirements. To gauge affordability, check out the Costco health insurance rates and compare them with other providers. Reading Costco health insurance reviews can give you insight into the experiences of other users and help you make a well-informed decision about your Costco health plans.
Ameriprise Auto & Home Insurance (Costco) Insurance Rates Breakdown
As far as term life insurance companies go, Costco offers its members very affordable prices. For example, Costco term life insurance quotes for a $250,000 policy average $13 per month for 45-year-olds.
To get an idea of how much you might pay for your insurance, check out the rates below.
Costco Term Life Insurance Monthly Rates
| Policyholder Age | $100,000 – Male | $100,000 – Female | $250,000 – Male | $250,000 – Female | $500,000 – Male | $500,000 – Female |
|---|---|---|---|---|---|---|
| 25 | $6 | $6 | $8 | $7 | $11 | $9 |
| 30 | $6 | $6 | $8 | $7 | $11 | $9 |
| 35 | $6 | $6 | $8 | $7 | $11 | $9 |
| 40 | $7 | $6 | $10 | $9 | $15 | $12 |
| 45 | $9 | $8 | $14 | $12 | $23 | $18 |
| 50 | $12 | $10 | $19 | $17 | $34 | $27 |
| 55 | $16 | $14 | $30 | $23 | $55 | $44 |
| 60 | $23 | $19 | $48 | $33 | $89 | $71 |
| 65 | $43 | $27 | $83 | $53 | $157 | $126 |
Costco life insurance rates are generally affordable, but some customers see higher average prices. For example, Costco life insurance for seniors can be much pricier than policies for younger adults.
Customers should also be aware that their rates will increase after the first five years. Usually, the rate increase is small, but it can come as a surprise if you’re not expecting it.
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Ameriprise Auto & Home Insurance (Costco) Discounts Available
Costco doesn’t list any discounts available to its customers, but you’ll automatically see some savings as a member. The average Costco member sees a savings of 15%, which you can see in the prices below.
Costco Term Life Insurance Discount Rates
| Policyholder Age | Monthly Rates 10 Year Term | With 15% Discount |
|---|---|---|
| 30 | $7.75 | $6.58 |
| 40 | $9.67 | $8.22 |
| 50 | $19.70 | $16.74 |
| 60 | $47.20 | $40.12 |
It’s also unknown if Protective Life offers discounts that Costco members can take advantage of. Still, you can learn more about the possibility by looking at the Protective Life insurance review.
How Ameriprise Auto & Home Insurance (Costco) Ranks Among Providers
When comparing Costco life insurance vs. other companies, you might feel overwhelmed by your choices. While there’s a lot to consider when shopping for coverage, comparing average rates is a great place to start. Check below to see how Costco rates compare with other companies.
Costco Life Insurance Monthly Rates vs Industry Average
| Age | Costco $500,000 Policy | Industry Average for $500,000 Policy | Costco $1,000,000 Policy | Industry Average for $1,000,000 Policy |
|---|---|---|---|---|
| 25 | $19 | $24 | $32 | $38 |
| 35 | $22 | $28 | $38 | $47 |
| 45 | $44 | $55 | $82 | $99 |
| 55 | $103 | $133 | $201 | $244 |
Although Costco has cheaper rates across the board, keep in mind that your prices will increase after the first five years.
Frequently Asked Questions
Does Costco life insurance require a medical exam?
Costco life insurance quotes typically require a medical exam, but you can opt for accelerated underwriting in some instances. People aged 18 to 60 can skip the medical exam, but the amount of coverage they can purchase is limited.
How much is Costco life insurance compared to competitors?
A Costco life insurance review will show that the warehouse offers lower rates than many other companies. However, Costco lacks the policy options you can find with most other providers.
What Costco life insurance policies are available?
Costco life insurance quotes are only available for term life plans. It does not sell whole or universal life insurance plans.
Can I get Costco group life insurance?
Since you must be a member to purchase a policy, Costco life insurance benefits do not include a group option.
Does Costco offer any life insurance discounts?
While Costco life insurance reviews don’t mention specific discounts, you’ll save about 15% simply by being a member.
Is Costco life insurance better for seniors than Colonial Penn life insurance?
Whether Costco life insurance quotes are better suited for seniors than Colonial Penn depends on your situation. Seniors in relatively good health can purchase substantial coverage from Costco. If you need to skip the medical exam, Colonial Penn is a better option if you’re over 60.
Do you have to be a Costco member to qualify for its life insurance?
While you need to be a member to take advantage of Costco life insurance benefits, non-members can purchase a policy from Protective Life.
How do I contact Costco customer service about a life insurance policy?
To get Costco life insurance quotes or ask about your policy, you can call 844-737-5433 or visit the Costco website. You can also visit Protective life’s site to manage your policy.
Does Costco have auto insurance?
Yes, Costco does offer auto insurance through its partnership with Ameriprise. Members can access Costco auto insurance options, which are designed to provide competitive rates and comprehensive coverage.
Does Costco have car insurance?
Yes, Costco provides car insurance to its members. The insurance is available through a collaboration with Ameriprise, allowing Costco members to benefit from tailored auto insurance policies.
Is Ameriprise Car Insurance a good company?
Ameriprise Car Insurance is generally considered a reputable company. It offers a range of auto insurance products and has received positive feedback for its customer service and coverage options. However, individual experiences may vary, so it’s advisable to review Ameriprise Car Insurance reviews and compare it with other providers.
Is Ameriprise Insurance good?
Ameriprise Insurance is regarded as a solid choice in the insurance market. It is well-rated for its range of insurance products, including auto and home insurance, and has received favorable Ameriprise Insurance reviews. For a comprehensive assessment, you may want to look into specific Ameriprise Insurance ratings and customer feedback.
Your life insurance quotes are always free.
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Tim Bain
Founder & Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Founder & Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
jheoaustin
F***** BS cheater, Stay Away
Taylor_Applegate
Horrible costumer serveice
Rob_Thomas
Ridiculous company, stay away!!
Jfiedler
No explanation of premium increase
KingSIGGA
Connect is the best!
mrtoddler
Ameriprise has great customer service.
Money2020
Ameriprise insurance
miche
good company
tvlngman
No Rental Car or Loaner Car Coverage!
ambidesign
Ameriprise Auto