There are literally hundreds of companies and thousands of policy options available. Our licensed professionals are available through the phone now, so you can get the coverage you need, without the wait. With each policy youll have a 30 money back guarantee. In this review, we will go over Colonial Penn two year wait to understand more about the companys guaranteed acceptance product and you can see if its right for you. We will work with you every step to find the plan that fits your financial requirements and budget. Director Of Quality . Jonathan Lawson's mission. Through his employer, Colonial Penn, Lawson's mission is to make sure every senior can get life insurance protection on a . There are no health questions or exams to determine your eligibility (approval is guaranteed). Is Colonial Life a scam/pyramid scheme/MLM? Is the Colonial Penn 9.95 plan a whole life policy? In the next section of this article, youll be able to read and learn about Colonial Penn negative reviews, so you can determine for yourself if the insurance plan is worth it. They will only refund your premium to your beneficiary plus 7% interest. We will never sell or share your info with anybody. What Is The 995 Plan? Why would Colonial Penn offer life insurance shoppers this odd coverage amount? As shown in the table above, a 65-year-old female gets just $1,258 of life insurance from one unit. The Colonial Penn $9.95 policy is a guaranteed acceptance life insurance policy with a monthly cost of $9.95 PER UNIT of coverage (often only between $400-$1,000 depending on your age). For example, for a 50-year-old woman, 8 units of coverage would provide a $16,664 death benefit. You might be asking yourself, What is the Colonial Penn life insurance $9.95 per month plan coverage amount? or Is the $9.95 Colonial Penn Life Insurance worth it? Today we are going to share everything you need to know so you can make the right decision. For Burial policy? Without us, the insurance companies would not have a customer. Below is a complete Colonial Penn 995 plan review so you can determine if the Colonial Penn 9.95 is legit or a sham. Wait until you hear what the policy provides if you are over 50. If you die during the waiting period, Colonial Penn will only refund your premiums plus a small amount of interest. Jonathan Lawson Colonial Penn Life Insurance not Worth it. A unit is based on the age and gender of the proposed insured. Compare quotes from top insurance carriers, Jonathan Lawson Colonial Penn Life Insurance not Worth it, Better Options than Jonathan Lawson Colonial Penn. The maximum death benefit available for 8 units is only $16,664. You must consider how much coverage you get per unit, which is determined by your gender and exact age. Colonial Penn and Colonial life are not the same company. Below you will find the price for ages 50-80 years old and how much coverage $9.95 gets you. Product eligibility for each carrier varies depending on the following factors: resident state of the insured, age, and medical underwriting restrictions. Get 5 free searches. He continues to work with Colonial Penn and represents them in many commercials and TV advertisements. Whole life fixed premium, Small coverage amounts. How much are Colonial Penns life insurance rates? Use the calculator below to see exactly how much coverage you get per unit based on age and gender. Weve all seen Alex Trebek advertising for Colonial Penn with a pitch, guaranteed acceptance with no medical exam and no health questions, with a rate lock and fixed benefit for the policys life for as low as $9.95 per month. Jonathan Lawson is on Facebook. Consent isnt a condition to purchase our products. How much coverage you get from each $9.95 unit depends on your gender and age. With Colonial Penn, everyone pays just $9.95 per month for a single unit of coverage. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, and Entreprenuer.com. ChoiceMutual.com. Thats a pretty bizarre number. Jonathan Lawson is the actor that currently appears in the Colonial Penn commercials. Mutual of Omaha Living Promise coverage is much less expensive and has no waiting period. This isnt some special feature that youll only get with Colonial Penn. is in force or the death must occur within 90 days (180 days in Oregon and Jonathan Lawson was born June 3rd 1980 in Dunedin, Florida. The unit refers to the total death benefit available based on how old you are and your gender. Colonial Penn is a reputable company. Each unit costs $9.95 per month, regardless of your age or gender. With a life insurance company, you can buy that amount of coverage. If you have a problem with a two-year wait, let us help you; we will work with you side by side to find a plan that fits your needs. Since you can only purchase up to 8 units, your maximum monthly premium will be $79.60 [8 units x $9.95 per month]. Once youve filled out the calculator, one of our licensed agents will provide you all your options and plan out who will provide you the best rate based on your specific health and goals. it can range from $1,786 to just $418 of coverage per unit. Unfortunately, its another way of saying that the policy has a waiting period before the entire death benefit is available. Regardless of your medical history, you cannot be denied for this coverage. Colonial Penn uses something called a unit to calculate the total death benefit available to you. For a 68 year-old-male, 1 unit at $9.95 a month qualifies you for a. Does Jonathan Lawson really work for . This is true of all other companies we work with at Funeral Funds. The same $10,000 of coverage for a male 70 years of age would be about $74 per month with Mutual of Omaha. The central theme in this commercial is to let people know that many people procrastinate on a subject like life insurance. Colonial Penn sells their coverage by the unit. Colonial Penn used their confusing units to show the maximum amount available. He served in the MArine Corps early on and then went to work for Colonial Penn full time. Larson was found dead by his roommate 10 days before his 36th birthday on the kitchen floor of his home in Manhattan . You dont have to waste your precious time searching for multiple insurance companies because we will do the dirty work for you. With Fidelity Life, you can qualify for RAPIDecision Life up to age 65, with coverage amounts of up to $1 million. We can assist seniors with burial insurance for age 60,70, and 80. Take advantage of a position that provides stable hours, a great work/life balance, and flex day offerings! Additionally, now that you know that Colonial Penn guaranteed acceptance policy has a limited death benefit period, you can now ask more specific questions about it as you shop for plans so that when you finally make your decision, it will surely fit your needs. Jonathan Lawson served in the Marine Corps and earned his college degree while working full time at Colonial Penn. Colonial Penns whole life policy will grow cash value like all whole life policies. The carrier has received high ratings through A.M. Best and the BBB and has demonstrated consistent financial strength. Their burial insurance for senior citizens accepts applicants who have diabetes, past heart attacks or stroke, and many other conditions common among seniors. Colonial Penn specializes in helping seniors and baby boomers find life insurance coverage. He is an actual employee of Colonial Penn and not just a paid endorser like Alex Trebek was. We broke down a quick example below for a 65 year old man shopping for life insurance. If you have any medical condition that disqualifies you from getting a level death benefit with no waiting period, then GI policy is an excellent choice. You won't be denied for pre-existing conditions and everyone pays $9.95 per unit of coverage. That unit is $717 of coverage. He also worked for 3 years as an artist manager for musicians and studied marketing and . Now whether it is Alex Trebek or Jonathan Lawson Colonial Penn commercials it doesnt matter. If you were to die from an illness or pre-existing condition during the first two years, you dont receive your full benefit amount. You do need to prequalify for this policy to be approved, but there is no medical exam required. No medical exam is required. We suggest products based on the needs and desires of the applicant. Is the Colonial Penn 9.95 plan a permanent policy? Funeral Funds is licensed in all 50 states to help individuals and families qualify for the lowest priced coverage with 1st-day coverage options. Yes, you can cancel your Colonial Penn policy at any time. The premiums become locked in for life and the death benefit will never decrease. He served in the MArine Corps early on and then went to work for Colonial Penn full time. Rates stay stable until 65 and after that, they fall by 75%. how long does arby's sauce packets last; calgary airport departures map; Comercial. Premiums are higher compared to some other companies. This means we can help 90% of our clients get approved for immediate coverage with no waiting periods.I am passionate about helping seniors find the best coverage at the most affordable rates. Above you will see Guaranteed Acceptance-with NO health questions. This is one of the truths in this commercial. Will my car insurance premium go up if I make a claim? Most folks should not be buying guaranteed acceptance coverage from Colonial Penn. However, you will need to answer some health questions on the application and you will have a 2-year waiting period where it will not pay for any health or medical-related death. Coverage lasts a lifetime as long as you keep paying your monthly premiums on time. Peirce College. We are nationally recognized life insurance experts. We help seniors every day find burial insurance with no waiting period, as well as children of seniors, find burial insurance for parents. Colonial Penn doesnt even mention how much insurance is provided at the $9.95 price. Term life insurance provides coverage for a set period of time, typically between 10 and 30 years, and is a simple and affordable option for many families. Colonial Penns life insurance policies have a tendency to be much higher than any other kind of policy. As an independent insurance agency, Choice Mutual gets paid a commission from our insurance partners every time we sell a policy. Customer Service Manager @ Colonial Penn Life Insurance; Telesales Manager @ Colonial Penn Life Insurance; Education. 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. All content is regularly updated and reviewed to ensure the highest degree of accuracy. Youll get more coverage at a lower rate if you buy from AIG or Gerber Life. David Duford is a nationally licensed insurance expert with over ten years of experience. If you want to make sure youre getting the best life insurance policy available, heres what you need to do. Why is car insurance so expensive for 22-year-old? However, the $9.95 Colonial Penn Plan does not provide high-value for seniors looking for coverage, typically. We will search for all those companies to get the best rate. This is true of all other companies we work with at Funeral Funds. He promotes the guaranteed acceptance $9.95 plan for seniors. For more information, please see our A 65-year-old female gets $1,258 in coverage from a unit. Your transaction will be processed in one to three business days. A guaranteed acceptance policy is a policy of last resort. This means there are no health questions or medical exams to qualify. Since its a whole life policy, the monthly rate will never increase, and the coverage will never decrease. What percentage of your income should you spend on life insurance? These policies only have a few questions and each company is different. Are you aware of the Colonial Penn 2 year wait? Jonathan Lawson Work Experience and Education. . What do you know about: Beginning at age 40, you can buy Colonial Penns whole life policy. Information appearing on this site is for educational purposes. Work. friends by his side. The Colonial Penn 995 plan is a Guaranteed Acceptance Plan with a two year waiting period. Jonathan Lawson first started working at Colonial Penn in 2014. Colonial Penn has a 2 year waiting period on their policy. Home Companies Colonial Penn Life Insurance Company Reviews. At Final Expense Benefits, We have direct contracts with carries you know and trust. Restriction: Colonial Penn Guaranteed Acceptance Life Insurance Will Not Pay A Death Benefit If Death Occurs During The First 2 Years. If you are interested in purchasing life insurance from . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Its important to note that after the two years limited benefit period, Colonial Penn guaranteed acceptance life insurance policy is active. Well help you find the best company you can qualify for. It's a guaranteed acceptance whole life insurance policy that does not require you to answer health questions. So what exactly is the Colonial Penn 995 Plan? the suspect loads his weapon and shoots the man at point-blank range. Colonial Penn, advertised on tv, is a bad life insurance policy. This is a good indication that the insurance is not just $9.95 per month. View the profiles of people named Jonathan Lawson. Who is Jonathan Lawson? Gnathan by family and friends, transitioned on July 1, 2018 at Mount. Natural causes of death are diseases that include heart attack, stroke, diabetes, or cancer. Lawson, a Colonial Penn sales manager's wife, has a marketing degree. Yes, the Colonial Penn 995 life insurance is a real plan. What insurance did Alex Trebek advertise on? Do Not Sell Well even cover how their life insurance policies work as well as the pros and cons with our complete Colonial Penn Life Insurance Company Reviews! " Or maybe you saw " Guaranteed Acceptance with NO health questions. Learn more about our editorial standards. Best Guaranteed Issue Life Insurance Companies, The Best Cash Value Whole Life Insurance Companies in 2022, Best No Medical Exam Life Insurance Companies, Best Burial Insurance Insurance Companies, Business Life Insurance For Owners, Partners & Employees, Sample Rates by Age, Gender & Policy Type, Life Insurance with Preexisting Conditions, guaranteed issue final expense life insurance. The Colonial Penn guaranteed acceptance plan is a whole life policy with no health questions. Below youll see a Colonial Penn life insurance rate chart. Fill our the form and well contact you shortly. The payout for a Colonial Penn policy varies depending on the policy and the age of the insured at the time of death. The Colonial Penn 995 Plan, its just that, a final expense insurance plan for $9.95. They very likely could be your best option. We are sure that a lot of Americans have seen the commercial, featuring popular TV host, The best and cheapest prices on burial insurance for seniors, Insurance agents that arent aggressive or pushy, Payout in as little as 48 hours after death. Is a house still insured if the owner dies? Choice Mutual does not earn money via selling sales leads or data to third parties, referring users to other websites, displaying ads on our website, or other means. Also, it will last forever and build cash value. Discover our company history and unique qualifications, Compare plans and prices from multiple carriers at once, Calculate your funeral costs to find your ideal coverage, Martin, A. best value. With Colonial Penn, youll get access to 3 basictypes of life insurance policies. Call us at +1 (866) 311-4338 and let us assist with providing your family piece of mind and providing you with the lowest premiums available. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage. Colonial Penn provides shoppers simple and easy life insurance options. Colonial Penn has the power to sell its life insurance product through massive advertising, but it does not offer the best value in life insurance. Colonial Penn offers flexible payment options. All guaranteed acceptance plans with no health questions will be subject to the insurers defined waiting period before benefits become payable under the policy provisions. If you are looking for a professional take on their final expense plan, look no further. Your age and gender determine how much you pay each month. No medical exam from Colonial Penn skips the exams and paperwork, and you can get life insurance even if you have some health issues. To keep their premiums fixed, Colonial Penn has to drop the coverage amount as we age. Can I get life insurance from Colonial Penn if Im not a U.S. citizen? Its also worth noting that we pay our sales agents a salary rather than on a commission-only basis. It is in fact guaranteed for you to be approved, regardless of any pre-existing conditions. back to you. GI policy has a two-year waiting period, but if you pass away during that time, the insurer will return all your premiums plus 10% interest (this is way higher than the 7% that Colonial Penn is offering). If you die in the first two years, Colonial Penn will only refund your premiums plus a small amount of interest. After all, Jonathan Lawson (the actor in their ads) proclaims loud and proud that it costs just $9.95. Unless you have a serious medical condition and cannot get coverage from any other insurer, guaranteed acceptance life insurance should be your last option. As the ad finishes up, you notice that for just $9.95 per month (less than 35 cents/day! What is the maximum unit you can buy at Colonial Penn? Liked by Jonathan Lawson He was born on June 3, 1980. Dennis Haysbert. Lawson can be found on LinkedIn, but his actual job is unclear. We also recommend these top 3 companies: If you have any questions about Colonial Penn or any other company, please contact us. Unfortunately, their prices, products and options can often be beat by the competition. That said, our evaluations, commentary, opinions, and recommendations are not influenced by monetary gain. Join Facebook to connect with Jonathan Lawson and others you may know. There are much better life insurance options for seniors than Colonial Penn. The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, . Colonial Penns plan returned a confusing range of rates based on their units of coverage. But what you might not know is, how much this plan provides your family. A unit of coverage with Colonial Penn costs only $9.95. This means that if you die within the first two years of having the Colonial Penn 995 Plan, your beneficiary WILL NOT receive the death benefit you have been paying for. Unlike some burial insurance or guaranteed issue life insurance from companies that let you choose a particular face amount or death benefit payout, Colonial Penn gets your age, gender, and state, then they assign you a unit of coverage which you can buy for $9.95. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Anthony Martin is a nationally licensed insurance expert with over ten years of experience and has personally served over 7000 clients with their life insurance needs. Also, Transamerica costs far less than Alex Trebeks life insurance. You must be between the ages of 18 and 75 with the option to renew up to age 90. 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Questions or medical exams to determine your eligibility ( approval is guaranteed ) medical exam required, its just,! Have to waste your precious time searching for multiple insurance companies because we will work with you every to!