Colonial Penn Life Insurance Reviews

BBB And Yelp

Over the years, Colonial Penn has focused on selling life insurance that is specifically designed for seniors and older customers. The bottom line is there is an incredibly large number of Colonial Penn 995 negative reviews and complaints for a company its size. We think Colonial Penn is unlikely to be the best option for you when it comes to senior life insurance.

But don’t only take it from us, just see what people have said about the Colonial Penn 995 plan coverage on Yelp. It’s also important to note the 223 complaints from the Better Business Bureau over the last three years. These complaints are mainly issues from beneficiaries that have not received death benefits or, waiting an extended amount of time to receive payments The Colonial Penn life insurance reviews below are very telling

Does Colonial Penn 995 Plan Payout?

Like any burial insurance for seniors or whole life insurance plan, once the insured passes away, the designated beneficiary of that plan would receive the coverage amount.

However, you need to keep in mind the terms and also the fine print associated with the Colonial Penn 995 plan. Since this plan is a guaranteed issue life insurance, there is a two-year waiting period. If you were to die within the first two years of your policy being in force, then your beneficiary would not receive the death benefit.

The good news is, here at Final Expense Benefits, we work with companies that offer burial insurance with no waiting period and burial insurance with no medical exam.

Like Colonial Penn 995 Plan, these companies offer:

● Premiums that never increase

● Benefits that never decrease

● No medical exam required

Unlike Colonial Penn 995 Plan, these companies also offer:

● The best and cheapest prices on burial insurance for seniors

● No two-year waiting periods

● Insurance agents that aren’t aggressive or pushy