Here are the downfalls to this policy!Įverything you need the policy to do leaves you when you need it most! Colonial Penn 995 Plan Is A Guaranteed Issue With A Waiting Period
Colonial Penn 995 Plan Per Unit Cost Age of ApplicationĪs you can see, this product is awful when it comes to proper coverage. You tell me if this is a good path to affordable burial insurance.īelow is the cost per unit of Colonial Penn life insurance rates per unit. How Much Is A Unit Of Colonial Penn Life Insurance? Well, we are going to break it down. How Much Insurance Do You Get For $9.95 a Month You won’t have to wait two years for your policy to start protecting your family.
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PinnacleQuote can usually find a policy that costs you less money per month, pays a larger death benefit AND YOU WILL BE IMMEDIATELY COVERED IN FULL FROM DAY 1! The reason is simple most seniors will qualify for another plan that offers day 1 coverage and lower prices than other life insurance companies! You might be wondering why should you purchase Guaranteed Acceptance plans like these with a 2-year waiting period for death by natural causes. However, there are other reasons why these policies won’t always be the best choice for seniors with average health. Just fill it out and submit payment, then think of yourself as fully protected by the amount you qualified for! How does that feel?” What Does $9.95 a Month Get You With Colonial Penn A Guaranteed Acceptance Life Insurance with Two Year Waiting Period😮Ĭolonial Penn has an application that can get you covered without answering any health questions or taking a medical exam. “You can find day one coverage from their competitors of $20,000 for the same price.
Here is the GIMMICK, the most units you can purchase from Colonial Penn is 12, so your maximum coverage would be $8604. So if you wanted $15,000 in coverage you would have to go with purchasing life insurance 19 units, right? In fact, at this age, one $9.95 unit will offer coverage of $717. It’s like they are giving away less money and charging more for what used to be available at a lower cost!įor example, if you were a 70-year-old male, and bought $15,000 in coverage, keep in mind what $9.95 buys you per unit. I hope this helped clear things up so people might want to consider shopping around before making their purchase decision.Īs you age, the death benefit awarded by your insurance company goes down while prices stay stagnant. Unfortunately, owning the 995 plan per unit will cost your family because when you pass away there is less than what you started with. Life coverage starts at $25K for funeral expenses or final medical bills to be paid by your loved ones. The difference between a life insurance company and Colonial Penn life insurance company is that you can only buy units, not benefits. The Dishonesty With Colonial Penn $9.95 Plan What is a Unit We Have Better Life Insurance Options Than The 995 Plan.Colonial Penn 995 Plan Is A Guaranteed Issue With A Waiting Period.How Much Insurance Do You Get For $9.95 a Month.What Does $9.95 a Month Get You With Colonial Penn.The Dishonesty With Colonial Penn $9.95 Plan What is a Unit.
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