![]() ![]() The most significant difference between the two types is that term doesn’t accumulate cash value. If you’re deciding between term and whole life, most life insurance experts agree that term is usually sufficient. Generally, term life is affordable, easy to understand, and has large death benefits that make it worthwhile. Term life is the most commonly sold life insurance product. Read below to explore Colonial Penn’s options, and then decide if going elsewhere might be best for you. However, these plans have strict age requirements and might not be the best value. If purchasing by the unit doesn’t sound appealing to you, Colonial Penn offers more traditional life insurance with whole and term plans. Secured with SHA-256 Encryption Does Colonial Penn sell other types of life insurance? To get an idea as to how much coverage will cost you, examine the sample prices for a 65-year-old below. Colonial Penn collects your basic information, such as your age, gender, and location, and then tells you how much coverage a single unit provides.įrom there, you can purchase multiple units to obtain the coverage you want. ![]() You can purchase up to $50,000 in coverage, but you’ll have to buy multiple units to reach that amount.Ī unit of insurance in this plan replaces the traditional death benefit. If you think that a whole life policy for under $10 a month is too good to be true, you’re right - for the most part.Ĭolonial Penn uses a unique sales technique that you won’t find at most other companies. What is the Colonial Penn $9.95 life insurance plan?Ĭolonial Penn sells several types of life insurance, but it’s famous for its $9.95 plan. Additional Add-ons for Colonial Penn Insurance.Does Colonial Penn sell other types of life insurance?.What is the Colonial Penn $9.95 life insurance plan?.If it doesn’t, you can compare prices with other companies and obtain the life insurance coverage you need to protect your loved ones. Read on to learn more about the Colonial Penn $9.95 plan and determine if the fine print will work for you. The fine print that you can’t decipher in the commercial dramatically alters the final price of your insurance. However, the Colonial Penn plan for $9.95 per month is misleading. You won’t find the same value you might expect from bigger names, but Colonial Penn is a semipopular choice for no exam life insurance.Īcquiring life insurance for under $10 a month appeals to many, particularly seniors who live on a budget. Life insurance is one of the best ways to protect your loved ones financially after your death, so a whole life insurance plan for under $10 a month seems like too good of a deal.Ĭolonial Penn isn’t the most celebrated name in the life insurance industry, but it’s been selling policies since 1939. Many people have seen the commercials advertising Colonial Penn’s $9.95 plan for whole life insurance. The National Association of Insurance Commissioners reports a higher rate of complaints against the company, while the majority of customer complaints involve the claims process.Colonial Penn also sells traditional whole and term life if you decide that the $9.95 plan doesn’t work for you.Colonial Penn’s $9.95 life insurance plan is a legitimate policy, but coverage comes in units of approximately $1,000 of coverage, so you’ll need to stack units to receive more protection. ![]()
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