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Apr 14, 2024 · The “$9.95 Plan” (or “995 Plan”) is a whole life insurance product from Colonial Penn. The plan offers lifetime coverage, guaranteed acceptance, and a quick online application. However, it has major drawbacks, including a 2-year waiting period and BBB complaints about claims and payout difficulties.
Apr 15, 2024 · Colonial Penn 995 Plan provides burial insurance to everyone over the age of 50. Approval is guaranteed and coverage is for life. The price starts at $9.95/mo, but that may not cover your personal burial needs. Funeral costs vary a lot, so you might pay more with Colonial Penn than other providers. UPDATED: Apr 15, 2024 Fact Checked.
Feb 5, 2023 · Colonial Penn 995 Plan: Full Review. Published On - February 5, 2023. Mlife Insurance Life Insurance. Colonial Penn 995 Plan is a guaranteed acceptance whole-life policy with a 2-year waiting period for $9.95 a month. Everyone pays $9.95 for each unit (max of 12 units). The amount of coverage you get for $9.95 is determined by your age and gender.
Apr 18, 2024 · Colonial Penn sells its guaranteed acceptance coverage in “units,” and the amount of coverage this gets you varies by gender and age. Each unit costs $9.95 and you can buy up to 15 units.
Nov 13, 2022 · Colonial Penn offers a couple of insurance plans, but their “$9.95” plan has to be the most popular, augmented by great advertising. (Indeed, it is because most people construe $9.95 as low cost and value.) It is whole life insurance. See the box for more information about the plan.
Feb 22, 2024 · Each unit costs $9.95 per month, with the amount of coverage varying based on age, gender, and state of residence. You will need to go through the quote process in order to obtain exact pricing...
Plan Overview. Ages 50-85 in most states. No medical exam or health questions. Two-year limited benefit period. Lifetime coverage. Locked-in premium rate. Benefit amounts vary based on age, gender and state. 30 Day Try-It-On Period. Pricing & Terms. Complete the form below to get your instant quote and start building your coverage. First Name.
