for your kid’s education. It’s really never too
early for life insurance; just about everyone
could use some coverage to help protect those
CC: Who is life insurance for?
MS: Life insurance is for everyone, really. While
it makes good sense for those with a spouse or
children, it’s really never too early. Young people
can purchase life insurance as soon as they start
working, even in a small amount, and then can
add to it as their needs change. In fact, ;; per
cent of those age ;; to ;; say that they would have
immediate trouble paying everyday living
expenses if the primary wage-earner died. And
for those age ;; to ;;, it’s ;; per cent.*
CC: With so many di;erent life insurance
products out there, how do I choose the right
life insurance for myself and my family?
MS: Consider what expenses you want to cover or
how much money you want to leave your loved
ones. This will help you determine how much coverage you need. Manulife offers a five-year term
life coverage to Costco members. This means you
pay the same rate for five years, and after that you
can renew your coverage at new rates with no
medical questions or exams. It’s guaranteed
renewable until you reach the age of ;;. C
*“Unprecedented Sales Potential in Canada’s Underinsured Life
Insurance Market.” Affinity Solutions Sales Ideas , Summer ;;;;.
Conditions, limitations and exclusions apply.
Life, Health, Travel insurance are underwritten by
The Manufacturers Life Insurance Company, P.O. Box ;;;,
Stn Waterloo, Waterloo, ON N;J ;B;.
A SUITE OF
Auto* and home insurance. Our broker program
gives members the flexibility
to get multiple quotes.
Costco Travel. What
you need to plan your next
getaway, from car rentals
to cruises and vacation
Travel insurance. Get
protection for when you’re
travelling outside your prov-
ince or outside the country.
Express courier shipping. This web-based tool
lets you compare rates and
save, with access to the
most trusted carriers.
Life and Health insurance. Flexible and affordable
coverage helps protect you,
your family and your business.
Low rates on Mastercard,
Visa and Discover transactions, as well as debit card
Payroll services. Payroll
is made easy, whether you
have one employee or 200.
Portable storage*. An
easy do-it-yourself solution
for renovations, moving and
Residential telecommu-nications*. Find low rates on
residential long distance,
home phone and internet.
Self-storage*. A convenient solution for when
you’re between homes or
just need some extra room.
Business cheque printing. Receive significant
savings over ordering from
Eligible Costco members
receive a discount during
For more information on
these services, see Costco.ca
and search “my services.”
*Available in select markets.
Term Life insurance coverage is available for
Costco members in amounts from $50,000 to
$750,000 in increments of $25,000. Members
who buy $200,000 or more in coverage save
10 per cent. Executive members save up to an
additional 5 per cent on the already affordable
rates. For more information about Term Life
insurance for Costco members and a free quote,
visit manulife.com/Costco or call 1-866-707-4922
to speak with a licensed insurance adviser.
Life insurance Q&A
WHEN IT comes to the long-term well-being of your family, purchasing term life
insurance is one of the easiest—and smartest—decisions
you can make.
To help members understand life insurance and help
them make informed decisions, Monika Spudas, director, account management at Manulife, answers common
questions about term life insurance.
THE COSTCO CONNECTION: What exactly is
MONIKA SPUDAS: It’s a financial tool that allows
you to leave money, tax-free, to your family or
other beneficiaries, in the event you are no longer
here. You can choose the amount of coverage that
fits your budget and needs. Premiums are paid
monthly or annually. Additionally, the amount
you pay in premiums will depend on such things
as your age, sex and health status.
CC: What are some of the ways life insurance
payments can be used?
MS: You may choose to buy life insurance to
ensure the financial coverage of a variety of
• Your child’s or grandchild’s future college
• Your mortgage.
• Any outstanding debts at the time of your
death, including probate fees, as well as estate
• Your funeral expenses.
• Or, you may simply want to ensure you are
able to leave a lump sum for your spouse, family
or a favourite charity.
CC: When is it important to consider having
MS: Reaching life milestones makes for a good
time to consider purchasing life insurance. For
example, when you are getting married, taking
out a mortgage or loan, having a baby or paying