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Dec 5, 2023 · Colonial Penn sells the $9.95 plan by the unit. Everyone, regardless of age or gender, pays just $9.95 monthly for one unit. The most crucial consideration is how much coverage you get per unit. Age and gender determine how much of a death benefit you get per unit and the most you can buy is 15 units. For example, a 57-year-old male gets $1,313 ...
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6 days ago · 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 · The Colonial Penn 995 plan offers guaranteed approval, meaning you won’t be denied coverage based on your health. It is also easy to apply for, with a simple online application process. The plan starts at $9.95 per month, providing an affordable option for burial insurance.
- What is the Colonial Penn 995 plan?The Colonial Penn 995 plan is a burial insurance policy that provides coverage for funeral expenses. It is a whole life insurance policy, which mea...
- Are there any hidden costs with the Colonial Penn 995 plan?One of the drawbacks of the Colonial Penn 995 plan is that full benefits are not paid until you’ve made payments for two years. If the insured pers...
- How much coverage can you get with the Colonial Penn 995 plan?The amount of coverage you can get with the Colonial Penn 995 plan depends on factors such as your age and gender. The earlier you start making pre...
- Is the Colonial Penn 995 plan a good choice for burial insurance?The Colonial Penn 995 plan can be a good choice for burial insurance due to its affordability and guaranteed approval. However, it’s important to c...
May 4, 2024 · Specifically designed for seniors, the Colonial Penn 995 Plan advertises affordable coverage but comes with a two-year waiting period and premium rates that are 30-50% higher than many of its competitors.
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.
Pros and cons of Colonial Penn Life Insurance’s $9.95 plan. Pros: The plan is suitable for seniors because seniors up to age 85 can apply without a medical exam (e.g. it’s a guaranteed acceptance life insurance option). Colonial Penn has a strong financial rating (A - A.M. Best rating) and offers coverage in all states.
May 3, 2024 · 1. How Much Life Insurance Coverage Do You Get With A 995 Plan? You can receive up to $30,000 at age 50 as a female, $25,035 as a male with the Colonial Penn 995 Plan. The maximum number of units is 15. This plan is available to anyone between the ages of 50 and 85.
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related to: colonial penn 995 planYou're eligible to apply for exclusive term life insurance from New York Life. Exclusive term life insurance from New York Life. Up to $150,000 in coverage.
Fidelity Life Insurance™ - Life Insurance You Can Rely On. Trusted Since 1896.
Affordable Life Insurance Carriers. Cheap Online Premiums as Low as $9 a Month. Compare the Best Life Insurance Plans. See Standard Policies for Adults Ages 35 & Over.
