If you are looking for a low-cost life insurance plan, look no further than the Colonial Penn 995 Plan. This plan offers monthly life insurance coverage for as little as $9.95. What’s more, it offers a lifetime rate guarantee and a gift with purchase. This is a perfect way to protect your family from financial disaster. Interested? Read on to learn more. Below are some of the benefits of the Colonial Penn 995 Plan.
$9.95 life insurance plan
If you need life insurance for seniors, Colonial Penn may have a plan that suits your needs. Their $9.95 life insurance plan offers a guaranteed acceptance rate. It comes with no health questions or medical exams. This policy is ideal for people with frail health who want to protect their family while financially preserving their lifestyle. While there are a few things to consider before purchasing this life insurance plan, you can find real-life customer reviews on various sites.
Colonial Penn’s $9.95 life insurance plan is available to U.S. citizens ages 45 to 75, with a maximum benefit of $50,000. It requires no medical exam, although you will be asked to answer some health questions. The policy builds a cash value after one year of coverage, which you can use to pay for emergency expenses or missed payments. You can apply online or by calling their customer support team. Although the company does not advertise its whole life plans, policyholders can expect to receive a decision within a week.
Another option is the $9.95 life insurance plan from Colonial Penn. The company’s goal is to provide coverage to the smallest number of people. This means they have simplified the process of purchasing insurance and putting it in an individual’s name. Because they sell life insurance by units, they consider the risk and death benefit of their policyholders before offering their policies. Colonial Penn’s policies do not require a medical exam, which means you can get coverage even with poor health.
Two-year waiting period
When it comes to life insurance, there are a few things you should know before you buy a policy from Colonial Penn. For starters, you have to live at least two years to receive benefits. That means you won’t receive payments until two years after you first start the policy. While this may seem like a long wait, it’s necessary if you intend to get the most out of your policy.
If you’re concerned about the cost of Colonial Penn 995 life insurance, you might want to take a look at its two-year waiting period. This is common across all life insurance companies, and you should avoid paying more than you can afford. It’s also worth noting that the plan’s maximum death benefit is $16,664 — a large sum for an individual.
Consumer complaints about Colonial Pen are mixed and vary widely from source to source. The Better Business Bureau gives the company an A+ rating. It did not appear in J.D. Power’s 2020 U.S. Life Insurance Study. In the last three years, 81 customer complaints have been received, most of which were related to billing and advertising. Colonial Pen complaints are generally unfounded, but some people have been disappointed with the service they received.
Colonial Penn life insurance starts at $9.95 per month. The amount of coverage you get will depend on your age and gender. You’ll need more units if you’re older, but it’s still reasonable to pay a little more if you’re concerned about your health. It’s worth checking with a licensed insurance agent before you sign up for Colonial Penn 995 life insurance.
The Colonial Penn 995 plan cost remains fixed at $9.95 per unit, though the coverage amount varies based on age and gender.
Cancer coverage
If you’re looking for an affordable life insurance policy, Colonial Penn 995 could be the answer. You can get whole-life coverage from this insurer without a medical exam. This option is unusual, but not uncommon. With no medical exam required, you can apply and get a decision within hours. You can also chat live with a policy expert online. Colonial Penn 995 is available to individuals ages 18 to 75, and you can renew your policy up until your 90th birthday.
Despite Colonial Penn’s solid financial rating, customers have filed a large number of complaints. The company receives a higher complaint ratio than many other insurance companies. This is a concern. But the company has taken steps to address those complaints. The company’s website includes contact information so customers can inquire online or call an agent. Customers should also check to see if claims are handled quickly and efficiently.
Colonial Penn doesn’t have a mobile app, but you can manage your policy through their website. The company offers supplemental health insurance to cover expensive medical bills. If you need cancer coverage, you can also add it to your policy. If you’re looking for a health insurance policy that includes supplemental coverage, you might want to consider getting a Medicare Supplement. These are supplemental policies that cover a variety of illnesses.
In a typical Colonial Penn 995 review, the plan is noted for final expense coverage rather than specific cancer coverage.
Chronic illness coverage
A good way to compare Colonial Penn 995 plans is to look at their chronic illness coverage. This type of coverage allows policyholders to collect 25% to 50% of their death benefit if they are diagnosed with a chronic illness or cancer. There are clear differences between the two different plans available through Colonial Penn, including a two-year waiting period for the Guaranteed Issue Plan and the Instant Coverage Permanent Whole Life Plan. If you already have a term life policy, you may also want to consider Colonial Penn’s Living Insurance option, which allows beneficiaries to receive a portion of the death benefit if they are diagnosed with a specific health condition. However, the Living Insurance option is not available for the Guaranteed Acceptance Plan.
If you’re looking for an affordable, comprehensive plan, consider Colonial Penn’s life insurance plan. It offers an early death benefit for certain types of illnesses, including cancer and heart attack. Ask your Colonial Penn agent about the conditions that qualify for this type of coverage. You’ll be surprised by the level of coverage available, and many policies offer a choice of early death benefits. And don’t forget that this plan also includes critical illness coverage.
You can choose from one to eight units of coverage. Coverage is based on your age and gender and can be as low as $9.95 per month. While it is a guaranteed issue policy, the waiting period may cause you to pay more than you originally expected. Colonial Penn also offers a rate lock option, so you can lock in a price that is affordable to you. The company will also cover accidents during this period.
Many wonder, “Is Colonial Penn 995 plan good?”—this plan is primarily intended for final expense coverage and does not include chronic illness benefits.
