{"id":285,"title":"Costco Life Insurance Plans for Older Adults 2026 Guide","slug":"costco-life-insurance-plans-for-older-adults-2026-guide","lang":"en","description":"This guide explains Costco-linked life insurance options in the U.S. and Canada, including Protective Life and Manulife offerings, term lengths, member pricing, age-based eligibility, and underwriting requirements. It also highlights important considerations for applicants in their 50s through 90+, including issue-age limits and alternatives for older applicants.","content":"

Costco offers life insurance policies through third-party partners—primarily Protective Life in the U.S. (Member Advantage Life®) and Manulife in Canada.

While promotional infographics present blanket age brackets (50–59 through 90+), term life coverage eligibility depends strictly on your age at application, term length, and health classification. New term policies are generally not issued above age 80.

Key Policy Features & Member Discounts

Member Advantage Pricing: Costco members receive exclusive rate discounts, with lower rates for standard members and extra savings for Executive Members.
Introductory Premium Discount: U.S. policies through Protective Life feature an introductory discounted rate for the first 5 years before adjusting to the standard level rate for the remainder of the term.
Flexible Term Lengths: Available in 10-, 20-, and 30-year initial term periods depending on entry age.
No Permanent / Universal Plans: Costco’s primary offerings focus on budget-friendly term life insurance.

Coverage Options & Rules Across Age Tiers

Ages 50–59 (Broadest Term Selection):
- Eligibility: Qualified applicants can choose from 10-, 20-, or 30-year term lengths.
- Strategy: 30-year terms usually close eligibility at age 58 for non-tobacco users (earlier for tobacco users). Securing a 20- or 30-year policy here locks in rates into retirement.
Ages 60–69 (Mid-Term & Mortgage Coverage):
- Eligibility: 10-year and 20-year terms remain available. Eligibility for 20-year terms typically ends at age 70 (earlier for tobacco users).
- Strategy: Ideal for covering late-stage mortgages, active debts, or pre-retirement income replacement.
Ages 70–79 (Short-Term & Final Expense Focus):
- Eligibility: Restricted primarily to 10-year term plans (available up to issue age 80).
- Strategy: Used mainly to cover short-term financial obligations, lingering debts, or estate administration costs.
Ages 80–89 (Existing Policy Renewals & Expirations):
- Eligibility: New policy applications are generally unavailable as maximum issue ages cap out at 75–80.
- Strategy: Active 10- or 20-year term policies issued in earlier years remain valid until their expiration or maximum renewal caps (up to age 90 depending on state/province rules).
Ages 90+ (Policy Termination Stage):
- Eligibility: Term life policies expire by age 85–90.
- Strategy: Policyholders seeking lifelong protection at this stage must explore individual whole life or guaranteed issue final expense policies directly from commercial carriers outside of membership programs.

Term Limits & Issue Age Caps (Protective Life / Costco)

Initial Term Length	Max Issue Age (Non-Tobacco)	Max Issue Age (Tobacco Class)	Typical Coverage Amounts
10-Year Term	Age 80	Age 75	$100,000 to $5,000,000
20-Year Term	Age 70	Age 62	$100,000 to $5,000,000
30-Year Term	Age 58	Age 43	$100,000 to $5,000,000

Practical Considerations for Applicants

Medical Underwriting Still Applies: While Costco offers streamlined application tools online, policies are fully underwritten (rate classes include Select Preferred, Preferred, Non-Tobacco, and Tobacco based on health history).
Account for the 5-Year Step-Up: Ensure your long-term budget accounts for the standard market rate adjustment that occurs at year 6 of the policy term.
Compare External Quotes above Age 70: Because term rates increase sharply in your 70s, evaluate whether a small guaranteed-issue whole life policy or final expense plan outside Costco better fits your needs.

Disclaimer: Costco is not an insurance company. Policies are underwritten by third-party carriers like Protective Life Insurance Company or Manulife. Terms, issue limits, and pricing vary by state, health qualifications, and age.

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