People ages 18 to 75 can buy regular term. If you’re interested in Colonial renewable term, you need to be between 18 and 40. Your policy is guaranteed renewable until you reach 90 years old. Whole life is much more expensive and the most significant difference between the two policies is that term has no cash accumulation.Ĭolonial Penn’s term life is renewable, which means you can renew your policy when the term ends. If you’re trying to decide between whole and term life, you’ll probably be fine with term. That’s because it’s generally affordable, has large death benefits, and is easy to understand. The most common type of life insurance sold is term life. Read below to explore Colonial Penn’s options, then decide if going elsewhere might be best for you. However, these plans have strict age requirements and might not be the best value. If buying by the unit doesn’t sound appealing to you, Colonial Penn offers more traditional life insurance with whole and term plans. Secured with SHA-256 Encryption Does Colonial Penn sell other types of life insurance? To get an idea of how much coverage you can buy, check the Colonial Penn life insurance rate chart for 55-year-olds below. Colonial Penn takes your essential information (age, location, and gender) then tells you how much coverage each unit will give you. With the Colonial Penn $9.95 plan, you buy units instead of selecting your death benefit. Most life insurance companies sell a death benefit, meaning you can buy $50,000 in coverage, and you’ll pay for it each month. This life insurance plan is sold in units, a sales technique unique to Colonial Penn. What is the Colonial Penn life insurance plan for $9.95?Ĭolonial Penn has several life insurance options, but its most famous is the $9.95 plan.Ĭolonial Penn life insurance for seniors at the low price of $9.95 might sound too good to be true, and that’s because it is - for the most part. Are there additional add-ons available for Colonial Penn insurance?.Additional Add-ons for Colonial Penn Insurance.Does Colonial Penn sell other types of life insurance?.What is the Colonial Penn life insurance plan for $9.95?.Enter your ZIP code into our free tool to see what rates might look like for you. There’s a lot of fine print that can drastically alter the price of your insurance.īefore buying a policy, you should consider Colonial Penn $9.95 plan reviews, then compare quotes with other companies. However, the Colonial Penn plan for $9.95 is a little misleading. While it isn’t the most prominent life insurance provider in the country, it has remained a semi-popular choice for people looking for no-exam insurance for years, especially because of the commercials. After all, life insurance is a great asset to financially protect your loved ones after your death, and ten dollars a month is very affordable.Ĭolonial Penn started selling life insurance products in 1939. Maybe you’ve seen the commercials selling Colonial Penn’s $9.95 plan for whole life insurance and felt the urge to buy a policy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |