Costco has partnered with Manulife Financial to offer two affordable term life insurance plans to their membership. Both these plans are available without medical exam, offering you an alternate path to coverage should you suffer from health issues.
Unique to Costco, these plans offer up to 10% in discounted premiums for Standard and Executive members.
Costco Term Life Insurance
5-year term coverage for those ages 18 to 65;
Coverage available from $50,000 to $750,000;
No medical exam is required for amounts less than $250,000 for those 55 and younger;
Guaranteed renewable and convertible up to age 75 with no medical exam;
Receive up to $100,000 in living benefits if you are diagnosed with a terminal illness;
FollowMe Life Insurance
Guaranteed acceptance if you transfer from an employer's insurance plan within 60 days of expiry;
Coverage available from $25,000 up to $250,000;
Guaranteed renewability up to age 80 with no exam;
Living benefit available up to $50,000 if you are diagnosed with a terminal illness.
Please compare this institution to the rest of the Canadian market to ensure you’re getting the best possible conditions on your life insurance coverage.
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