March 1, 2024

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Colonial Penn Permanent Life Insurance

Colonial Penn Permanent Life Insurance

Permanent life insurance ensures you for the rest of your life. This type of insurance is more expensive than a term policy, but some policies offer some excellent benefits like cash value appreciation and investment options.

These life insurance policies offer additional riders and are generally more customizable than term life insurance policies.

Colonial Penn, permanent life insurance, involves medical questions, but no medical exam is required. It is less expensive than guaranteed issue life insurance but much more expensive than other insurance you can buy in the market.

All Colonial Penn life insurance policies are non-medical policies that offer lower amounts of coverage than most life insurance policies on the market.

This makes them an excellent option for a specific niche market – older adults new to the subject. There is no reason for a person to purchase a life insurance policy from Colonial Penn. There are much better options on the market.

Affordable life insurance options can be found if you speak with an independent life insurance agent today.

Colonial Penn Life Insurance Price Chart

Colonial Penn’s prices are generally higher than other providers.

Comparing them is difficult because they have a misleading way of quoting their products in “units.” We will explain this later.

We’ll start with the most popular policy – ​​Colonial Penn Guaranteed Acceptance Insurance.

Guaranteed Acceptance Life Insurance Price Charts

Colonial Penn guaranteed issue life insurance works on a unit basis.

For $9.95, you can purchase one unit of your coverage.

Depending on your age, they can offer any amount of coverage between $400 and $2,100.

Each person can purchase up to 8 units, with maximum coverage of approximately $16,000.

Below is the Colonial Penn pricing chart for both men and women. Find your age and see how much this guaranteed acceptance life insurance policy would cost you.

Colonial Penn’s guaranteed issue permanent life insurance policies are available to anyone between 50 and 85.

These policies range between $9.95 and $79.60 per month.

This is considered a funeral insurance policy. This is a good policy for people who are not in good health and who need minimal coverage to protect their families in the event of death.

Term life insurance prices

Colonial Penn term policies are available to adults between 18 and 75. The minimum coverage for these policies is $10,000, and the maximum is $50,000. Their prices can be pretty high compared to other term life and funeral insurance policies available on the market.

Colonial Penn’s term life insurance policies are generally priced every five years.

Permanent life insurance prices

Your permanent life insurance policy also has a maximum face value of $50,000 and a minimum of $10,000.

Prices will vary based on different age ranges.

Colonial Penn permanent life insurance policies are available to anyone between 40 and 75.