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Prepare to prevent
Protective Life Insurance focuses on keeping families afloat
by DAN JONES
Two in five parents say they are barely or not at all financially secure, according to the 2022 Insurance Barometer Study by Life Happens, a nonprofit organization (lifehappens.org), and LIMRA, a financial services research trade association (limra.com). Many households have not prepared for the loss of a primary wage earner: 44% say it would take less than six months to feel financial hardship if this happened to their family.
The Connection recently caught up with David A. Sheridan, managing director of independent distribution for Protective Life Insurance Company, to discuss how the company serves and protects Costco members.
Costco Connection Just how important is life insurance?
David A. Sheridan We insure our cars, our homes, our medical health and our pets. It is critical to insure our single greatest asset—ourselves! Of course, life insurance is used to pay off our debts when we die, but beyond that, it can make certain that our families will be able to maintain their standard of living. Just as important is that life insurance makes all the things we hope to provide for our families in the future possible if we are not here to provide it for them.
CC How much life insurance should a person have to be protected?
DS Your financial and family situation should be taken into consideration when determining how much coverage you should have. What is the debt burden of the family? What is the surviving spouse’s ability to financially support the family at their current standard of living? It is especially important to think about future financial needs such as college expenses, aging parent care and children with special needs. Term life insurance is generally very affordable, and most folks overestimate the cost. Remember, the cost of life insurance increases as we age and as our health changes, so your coverage will never be less expensive than it is today.
CC How does Protective Life Insurance Company work to protect Costco members?
DS Protective is committed to providing customers with a superior sales and service experience, great products and excellent consumer value. Member Advantage Term protection was designed by Protective exclusively for Costco members. Only Costco members can receive Protective’s lowest available pricing. Your policy can be purchased through an easy-to-use online application process, and we stand ready to answer any questions you may have.
Costco Connection: To learn more about or apply for Protective Life Insurance Company protection, visit protective.com/costco. Browse other insurance offerings by visiting Costco.com and clicking “Services.”
