1 minute read
What Is Colonial Penn Final Expense Insurance?
Colonial Penn Final Expense Insurance exists like a whole life insurance policy, although tailored specifically for funeral expenses. These policies offer no medical exam and generally accept all applicants regardless of status.
As a result of this acceptance rate, though, your rate may be adjusted based on how much of a risk you are assessed to be. Colonial Penn 995 Plan Final Expense Insurance funds are paid out as normal as long as premiums are paid, and contain no restriction on how the funds may be used. This is always a good idea because you don’t have to spend the payout on a funeral if this is unnecessary, making this a very versatile policy
Advertisement
Jonathan Lawson Colonial Penn Life Insurance Commercial
Does this commercial look familiar? The actor, Jonathan Lawson telling you about “The three Ps of life insurance. Price, price and price.” What’s important here is that we focus on the fine print in the commercial and not the three Ps
When they state that everybody gets coverage at $9.95, pay attention to where it says “coverage options start at.” Yes, you can get coverage under Colonial Penn
Life insurance, $9.95 per month. But how much does $9.95 get you? Well, Jonathan Lawson won’t tell you in the commercial, but we will! Below you will find the price for ages 50-80 years old and how much coverage $9.95 gets you.
What Do I Get For $9.95 With Colonial Penn?
In the chart below, you will see the amount of coverage, by age for a single $9.95 unit. Remember, you can purchase a max of 12 units.
What is a unit? A unit of the Colonial Penn 995 coverage corresponds to the life insurance benefit amount you receive for $9.95 per month. Your age and gender determine how much you pay each month.
These figures were obtained from the NFDA and are estimates only For a detailed quote, please contact an agent.
If you were to match Colonial Penn 995 Plan rates to the top insurance carriers, you will be shocked at the difference in money To keep their premiums fixed, Colonial Penn has to drop the coverage amount as we age. Rates stay stable until 65 and after that, they fall by 75%. Still, thinking about purchasing the 995 plan?
