What is the price of Colonial Penn life insurance?
Colonial Penn Life Insurance coverage starts at $9.95 per month. If you get term life insurance at age 18, you can purchase the $50,000 range, which is the company’s highest coverage limit, for about $13.96. The coverage tables below show monthly renewable term policy premiums for men and women.
Other types of insurance coverage, such as insured acceptance and permanent life insurance, have different premiums. Insurance policy terms and conditions for Guaranteed Acceptance vary by state.
Colonial Penn’s permanent whole life insurance prices are determined primarily. By the policyholder’s age and gender, with a monthly premium calculated based on the policyholder’s age and gender. With Colonial Penn, you get a fixed bonus for as long as you’re covered, no matter your premium amount.
What is Colonial Penn’s life insurance service like for clients?
Colonial Penn is a direct-to-consumer insurance provider, which means you won’t be able to meet with an insurance agent or financial professional to discuss your insurance needs.
However, you can get a Colonial Penn insurance quote online. If you would like to speak with a Colonial Penn salesperson, you may call 877-877-8052. Monday through Friday from 8:30 am to 10:00 pm ET and Saturday from 9:00 am to 5:00 pm ET, customer support is available.
What discounts are available on Colonial Penn life insurance?
The company does not offer any package for military veterans and saves discounts or reduced prices. The cost of a Colonial Penn varies depending on a person’s age, location, and health status.
However, if you want to get a decent deal. We recommend buying life insurance coverage when you’re young. Your premium rate will be lower if you accept the policy sooner rather than later.
Everyone over 18 is eligible for Colonial Penn’s term renewal policy, which is renewable for up to 90 years. If you choose to pay your premium annually, you will receive a discount equal to approximately one month’s premium. The reduction is worth 8.3%, making the policy even more accessible to everyone.
Colonial Penn Life Insurance Policies
Colonial Penn offers two life insurance policies: term and whole life. No medical exam is required for any of their life insurance products. But you need to answer a few health questions to determine if you qualify for coverage.
Based on your current age at the time of renewal, your renewable term life insurance coverage allows you to renew up to age 90. People over the age of 40 are eligible for life insurance, which is whole life insurance with an advance payment option. For seniors age 50 and older, Colonial Penn also offers guaranteed acceptance of full life insurance with no medical questionnaire.
term life insurance
Colonial Penn has a one-year term life insurance policy available. Every year, you start a new plan. Charges differ based on age, gender, insurance plan, and location.
Clients between the ages of 18 and 75 can get term life insurance. Although a medical exam is not required. The application includes some health-related questions. It is renewable until the age of 90.
Colonial Penn Guaranteed Plan
Colonial Penn’s Guaranteed Plan is available to people ages 50 to 85. This life insurance policy doesn’t require a medical exam. But it has a two-year limited benefit period. This means your policy won’t pay you a death benefit for the first two years. After the first year of coverage, the approach builds a cash value and may set the death benefit limit.
Advantages of Colonial Penn Life Insurance
- Colonial Penn Life Insurance is a prominent American insurance company with two subsidiaries:
- Family Heirloom Life Insurance Liberty National Life Insurance
- AM Best has given them an A– rating, and S&P has a BBB+ rating.
- They offer term life and whole life insurance.
