The Ultimate Colonial Penn Life Insurance Review 2019
How much does Colonial Penn really cost? Is Colonial Penn insurance any good? Do you have any other questions about Colonial Penn Life insurance that you are curious about?
If you are looking for answers about Colonial Penn final expense insurance, you came to the right place! Welcome to Affordable Final Expense.
Everything you could want or need to know about Colonial Penn Life insurance in one article and one review. We will share you with you information about Colonial Penn Rates, Policies, Video Examples and some little known facts and nuggets of incredibly valuable information.
Colonial Penn has an AM Best A- rating, which puts them in the top 10-20% of insurance companies (for comparison, Mutual of Omaha is A+ rated and is in the top 1%).
Colonial Penn Table of Contents
- Colonial Penn Final Expense Whole Life Policies
- What Is The Colonial Penn “Rate Lock Guarantee”?
- Who Should Buy Colonial Penn
- Who Should Not Buy Colonial Penn
- Policy #1: Guaranteed Acceptance With No Health Questions
- Policy #2: Colonial Penn Whole Life Insurance That Has Health Questions
- Policy #3: Colonial Penn Term Policies, Expires At A Certain Age
- What Is A Colonial Penn Unit?
- Cheapest, Lowest Priced and Most Affordable Final Expense & Burial Insurance
Colonial Penn Life Insurance Final Expense and Whole Life Insurance For Seniors
When you see a Colonial Penn commercial, three things are constant;
- Policies that are $9.95 per month, or start at $9.95 per month
- Policies are Rate Lock Guaranteed
- Policies that are Guaranteed Issue
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As a consumer, I get chills (good chills) when I watch this video. Alex Trebek was my favorite show host when I was younger, he makes me feel cool, calm and collected.
As a professional in the insurance industry, I get a different kind of chill when I see commercials like this.
“Guaranteed acceptance, no medical exams, no health questions and this plan has a guaranteed lifetime rate lock.”
I would guess that 1/3 of the people that inquire about Final Expense whom I speak with will ask me about the $9.95 policy. My mission, our mission, is always to accommodate people’s requests and serve YOUR BEST INTEREST, NOT OURS.
So, when I am confronted with; “What about this $9.95 policy I see on TV?”, THE VIDEO BELOW IS EXACTLY WHAT I SHOW PEOPLE;
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If the $9.95 policy is indeed what someone wants, if that is what you want, than we make sure you understand the policy and also help you understand the application process, it’s simple! Much of the time, however, this is not really what people want or need so we move forward looking at other companies, policies and rates.
What is the Colonial Penn Rate Lock Guarantee?
Let’s assume we all know who Alex Trebek is, and hopefully we all know who Joe the Plumber is, now let’s to ask a question.
If Alex Trebek and Joe the Plumber did a side-by-side commercial and both said, ‘As a Colonial Penn customer you will always know that you have our Rate Lock Guarantee.‘ Who would you trust?
If I was a betting person, I would bet you dollars to doughnuts the answer is that you would trust Alex Trebek … AND … you might actually take action based upon a recommendation from Alex Trebek.
What is a Colonial Penn Rate Lock Guarantee?
Colonial Penn’s Rate Lock Guarantee is their promise that your premium will never go up, it will always stay the same.
What is the implication?
You might think; “There must be something special about the Colonial Penn Rate Lock Guarantee and maybe only Colonial Penn can guarantee to lock in your premium.“, right?
NO – NOT AT ALL
EVERY WHOLE LIFE (FINAL EXPENSE) INSURANCE POLICY HAS A RATE LOCK AND WILL ALWAYS BE RATE LOCKED. There is not one single whole life policy in the marketplace that does NOT have a rate lock.
The marketing genius behind the scenes that created the “Rate Lock Guarantee” and the PR (public relations) rock star who suggested Alex Trebek as the pitchman should get all the credit for this!
In terms of the truthfulness behind the “Rate Lock Guarantee”, imagine seeing a TV commercial for a new automobile;
Hi, this is Alex Trebek, remember the 3 P’s when purchasing a new car PRICE, PRICE, PRICE. When you purchase from me, you will have always have the peace of mind knowing your new car will have 4 tires, a steering wheel and a windshield that you will be able see through. Oh, and don’t forget about our patented car financing rate lock, your payment will NEVER EVER go up!
The script above for a new car is essentially the same as the Colonial Penn Guaranteed Acceptance Rate Lock Guarantee! It’s just that we LOVE us some Alex Trebek!
Who Should Buy Colonial Penn Rate?
Colonial Penn is the perfect choice for anyone that can only afford to spend EXACTLY $9.95 or EXACTLY $19.90 on whole life insurance. If that is all you have in your budget right now is EXACTLY $9.95 or $19.90 per month and you need life insurance then stop looking, save your time and apply to Colonial Penn, right now!
NOTE: Colonial Penn will not sell you a a policy or accept payments for anything other than a multiple or $9.95. That is kind of genius and weird at the same time if you think about it.
If you are part of the Alex Trebek fan club, Colonial Penn may also be a good choice if you. I have personally met and/or spoke with some people that are so fond of and trust Alex Trebek so much that paying an additional 25-50% per month gives them peace of mind that Alex Trebek is looking over them.
18 February, 2016, Daytona Beach, Florida, USA
Dale Earnhardt Jr (88)
©2016, John Harrelson / NKP
LITTLE SECRET – I can relate to this mindset. I am a HUGE NASCAR fan, I absolutely LOVE Dale Earnhardt Jr. when he was an active driver. I would spend irrationally on anything Dale Earnhardt was promoting. So, if Alex Trebek is that important to you and you don’t mind paying an additional 25-50% than Colonial Penn is for you!
Who Should NOT Buy Colonial Penn Rate?
If you have more than $9.95 in your budget for life insurance, then Colonial Penn is NOT the best choice for you. If finding the best policy at the lowest rate for anything over $9.95 is important to you, Colonial Penn is NOT the best choice for you. If you do not need a spiritual connection with Alex Trebek, Colonial Penn is NOT the best choice for you.
Policy #1: Guaranteed Acceptance With No Health Questions [INCLUDING RATES]
When you think of Colonial Penn or Alex Trebek you are thinking guaranteed acceptance whole life plan, without question! Colonial Penn prioritizes their advertising and pushes this policy very aggressively, and does so VERY SUCCESSFULLY.
If you make a phone call or visit the Colonial Penn website, the pitch will ALWAYS start with the $9.95 plan and they will upsell you from there. Truth be told, their advertising is SO GOOD that they are happy selling you the $9.95 plan because they make a LOT of money from those policies!
TV commercials, internet advertising, website banners, etc. – Colonial Penn aggressively makes sure that people 50-85 hear this message, see this message, listen to this message and consume this message.
IT IS WHAT IT IS – A GUARANTEED ISSUE WHOLE LIFE POLICY
Their guaranteed acceptance plan is a guaranteed issue whole life policy – PERIOD! Fortunately, ALL whole life policies are simple to understand, Alex Trebek makes it even MORE SIMPLE, ALL FINAL EXPENSE WHOLE LIFE POLICIES ARE;
- RATE LOCKED – Premiums never increase
- LEVEL BENEFIT – Benefits never decrease
- GOOD FOREVER – Policy will NEVER expire
- CASH ACCUMULATION – Whole life policies accumulate cash value.
That is how Colonial Penn Guaranteed Acceptance policies work and EVERY OTHER GUARANTEED ISSUE POLICY IN THE MARKETPLACE – Simple, right?
Yes, VERY simple and simple is good. However, there are a couple of things in the REALLY fine print that is imperative for you to understand about this policy and any guaranteed issue policy from ANY company.
GUARANTEED ISSUE DOES NOT PAY A DEATH BENEFIT IF DEATH OCCURS DURING THE FIRST 24 MONTHS
The main thing to understand about this policy is that it’s guaranteed issue. That means there are no health questions or any medical underwriting of any sort. They will literally issue the policy to anyone without knowing a single detail about their health. This is why they call it guaranteed acceptance.
COLONIAL PENN IS MAKING A BLIND BET ON YOU, IT’S LIKE PLAYING BLACKJACK WITH A BLINDFOLD!
Let’s pretend for a minute go to a casino to play blackjack BUT you you are not allowed to look at the hole card (face down card). You have to “hit” or “stay” only based upon the face up card(s).
Would you EVER do that? EVER? You probably said NO, right? Well, the correct answer is … YES … you would do that but only if the odds were in your favor! If you are playing straight up even money, the answer is HECK NO YOU WOULD NEVER DO THAT. If, however, you were given a 10x payout, the answer is HECK YES YOU WOULD DO THAT!
This analogy is identical to a Colonial Penn Guaranteed Acceptance policy (any guaranteed issue policy from any company), making you pay a premium so they can cash out 10X, just by giving you a policy with NO MEDICAL QUESTIONS! They are taking a blind bet on you, but guess what … THEY ARE MAKING YOU PAY A HEFTY PREMIUM FOR THAT BLIND BET. The insurance company is “the house” and we all know the house never ever loses! They might lose a deal here or there but in the long run the house will always win.
WHAT DOES THIS MEAN?
With this policy, Colonial Penn life insurance company will not pay out a death benefit to your family if you die from natural causes within the first 2 years of the policy. Don’t believe us? Check out what it says below taken directly from their website.
What they will do is refund of your premiums plus 7% interest if you die during this time.
NOTE 1: Every other insurance company we are aware of in the industry will pay premiums +++ 10%.
NOTE 2: Death from an accident (car, plane, train crash etc) will result in the full face value of the policy being paid out even if it’s during the 24 month (2 YEAR) waiting period.
After the 24 months, your policy is active and will remain so forever unless you cancel it or stop making your payments.
POLICY #2 – THE COLONIAL PENN BURIAL INSURANCE STANDARD WHOLE LIFE SIMPLIFIED ISSUE POLICY
Colonial Penn also has a final expense whole life simplified issue policy. Because of that, the policy will work in the following ways:
- RATE LOCK (YES, THIS AGAIN, ITS GETTING OLD) – Payments never increase
- Benefits never decrease
- Policy is good forever
- Policy accumulates cash value
- Coverage begins immediately, “No 2 year waiting period”
To qualify for the the Colonial Penn simplified issue policy (or any companies simplified issue policy for that matter), you will be required to complete and application that will satisfy two requirements;
- Answer health questions, honestly
- Consent to a prescription history check (from the MIB or Medical Information Bureau)
With this information, insurance companies will make a decision whether to approve you or not. All insurance company’s simplified issue policies do this, the difference from company to company is UNDERWRITING STANDARDS (what health issues and what prescriptions will they approve you for!)
REMINDER: Simplified Issue = Health Questions but NO a medical exam.
A back-office underwriter might request to speak with you over the phone to ask you some follow up questions. The back-office underwriter for some companies may assign tasks to the field underwriter (US!!!!) to follow up with you.
HEALTH ISSUES & PRESCRIPTIONS COLONIAL PENN WILL NOT ACCEPT BUT OUR COMPANIES WILL
Colonial Penn has VERY STRICT UNDERWRITING for their simplified issue policies. Their rates are VERY competitive, usually in the 3-5 lowest rates for any given person but you need to be VERY health to qualify (NOTE: Mutual of Omaha and Colonial Penn have very similar rates for all health classes, Mutual of Omaha has fairly strict underwriting standards but will cover accept many more health issues and prescriptions.)
THE TRUTH —>
Most seniors looking for final expense or burial insurance coverage will not be accepted by Colonial Penn because of strict underwriting standards.
Colonial Penn underwriting does not accept many very common health issues that the average person 50 and above deals with. Sadly, many folks that do apply will see this message ↓
Below you can see all the health issues Colonial Penn will not accept for their simplified issue policy. Colonial Penn life insurance company will decline you for every single condition below. Many companies will accept them (click here for The Ultimate Final Expense Health Cheat Sheet, find carriers that cover your health condition!)
- Any Blood Thinner (Coumadin, Warfarin, Plavix, etc)
- Any Insulin
- Any Diabetic complications: neuropathy, PVD, retinopathy, severe obesity, hospitalizations due to diabetes
- Wheelchair
- Any Oxygen use (COPD or otherwise)
- Hospitalized within the last year
- Receiving home health care
- Disabled due to an illness (this rules out ALL Direct Express/SSDI Final Expense or Burial Insurance)
- Currently undergoing evaluation for symptoms of an illness
- COPD
- Chronic Bronchitis
- Emphysema
- Sarcoidosis
- Pulmonary Fibrosis
- Any Kidney disease, insufficiency or failure failure
- Most (if not all) heart issues
- Coronary artery disease
- Cardiomyopathy
- Congestive heart failure
- More than one occurrence of cancer
- Liver disease
- Cirrhosis
- Hepatitis
- Mini strokes (TIA attack)
- Peripheral vascular disease
- Bipolar disorder
- Schizophrenia
- Psychosis
- Multiple sclerosis
- Muscular dystrophy
- Systemic lupus
- Cystic fibrosis
Colonial Penn “Look Back Period“
Not only do they have very strict underwriting for health issues but Colonial Penn also looks back further into your health history than most (if not all) other insurance companies. There are other final expense insurance companies that have significantly shorter look back periods compared to Colonial Penn.
- Cancer: They look back 3 years. We have companies that only look back 2 years.
- Heart attacks: They look back 3 years. We have a few companies that only look back only 1 year, and a bunch that only look back 2 years, we have one carrier that looks back 6 months!!!
- Full blown strokes: They look back 3 years. We have a few companies that only look back only 1 year, and a bunch that only look back 2 years.
- Heart or circulatory surgeries: They look back 3 years. We have a few companies that only look back only 1 year, and a bunch that only look back 2 years.
What are Colonial Penn Prices, Premiums and Rates?
Below you can see all the prices for simplified issue whole life Colonial Penn life insurance rates for both men and women. For comparison there are prices, rates and quotes from a few of our companies.
Want to know when they are actually a low-price leader?
As you will see, Colonial Penn is priced well for females age 50-57, and males age 50. Outside of those classifications, their prices are really higher than other insurance companies charge.
For anyone in those two groups, Alex Trebek life insurance is actually a really good deal. Honestly, you should heavily consider it because the price is right.
Female
| AGE | $10,000 With Colonial Penn | $10,000 With Mutual Of Omaha | $10,000 With Foresters Financial | $10,000 With Transamerica |
|---|---|---|---|---|
| 50 | $21.28 | $24.67 | $26.05 | $25.30 |
| 51 | $22.34 | $25.45 | $27.07 | $25.90 |
| 52 | $23.48 | $25.88 | $28.10 | $26.40 |
| 53 | $24.72 | $26.62 | $29.11 | $27.00 |
| 54 | $26.02 | $27.47 | $30.14 | $28.00 |
| 55 | $27.42 | $28.40 | $31.16 | $29.10 |
| 56 | $28.92 | $29.27 | $32.01 | $30.00 |
| 57 | $30.52 | $30.06 | $32.86 | $30.80 |
| 58 | $32.21 | $30.83 | $33.71 | $31.60 |
| 59 | $33.98 | $31.70 | $34.56 | $32.50 |
| 60 | $35.84 | $32.87 | $35.41 | $33.60 |
| 61 | $37.82 | $34.51 | $36.89 | $35.30 |
| 62 | $39.94 | $36.06 | $38.37 | $37.00 |
| 63 | $42.22 | $37.72 | $39.84 | $38.30 |
| 64 | $44.72 | $39.36 | $41.32 | $39.90 |
| 65 | $47.43 | $41.01 | $42.80 | $41.60 |
| 66 | $50.41 | $43.44 | $44.92 | $44.00 |
| 67 | $53.69 | $45.86 | $47.05 | $46.50 |
| 68 | $57.34 | $48.29 | $49.17 | $49.00 |
| 69 | $61.36 | $50.81 | $51.29 | $51.40 |
| 70 | $65.68 | $53.24 | $53.42 | $53.90 |
| 71 | $70.28 | $56.63 | $57.75 | $57.40 |
| 72 | $75.22 | $60.12 | $62.08 | $60.90 |
| 73 | $80.72 | $63.93 | $66.41 | $65.70 |
| 74 | $86.91 | $67.78 | $70.74 | $69.20 |
| 75 | $94.07 | $72.41 | $75.08 | $72.80 |
Male
| AGE | $10,000 With Colonial Penn | $10,000 With Mutual Of Omaha | $10,000 With Foresters Financial | $10,000 With Transamerica |
|---|---|---|---|---|
| 50 | $29.65 | $29.16 | $32.00 | $30.70 |
| 51 | $31.33 | $30.30 | $32.97 | $31.40 |
| 52 | $33.11 | $31.12 | $33.94 | $32.10 |
| 53 | $34.99 | $32.20 | $34.92 | $32.70 |
| 54 | $36.98 | $33.61 | $35.89 | $34.20 |
| 55 | $39.07 | $35.09 | $36.86 | $35.90 |
| 56 | $41.26 | $36.45 | $38.53 | $37.40 |
| 57 | $43.54 | $37.91 | $40.20 | $38.80 |
| 58 | $45.93 | $39.27 | $41.86 | $40.20 |
| 59 | $48.41 | $40.82 | $43.52 | $41.80 |
| 60 | $51.00 | $42.76 | $45.19 | $43.70 |
| 61 | $53.73 | $45.38 | $47.29 | $46.40 |
| 62 | $56.62 | $47.90 | $49.41 | $49.00 |
| 63 | $59.71 | $50.52 | $51.52 | $51.20 |
| 64 | $62.96 | $53.14 | $53.63 | $53.80 |
| 65 | $66.45 | $55.76 | $55.75 | $56.50 |
| 66 | $70.15 | $59.35 | $59.18 | $60.10 |
| 67 | $74.08 | $62.93 | $62.61 | $63.70 |
| 68 | $78.26 | $66.53 | $66.04 | $67.30 |
| 69 | $82.72 | $70.11 | $69.47 | $71.00 |
| 70 | $87.46 | $73.70 | $72.91 | $74.60 |
| 71 | $92.59 | $78.36 | $78.86 | $79.30 |
| 72 | $98.17 | $82.92 | $84.81 | $84.00 |
| 73 | $104.25 | $88.01 | $90.77 | $90.40 |
| 74 | $110.87 | $93.16 | $96.73 | $95.20 |
| 75 | $118.29 | $99.53 | $102.69 | $100.00 |
Policy #3: Colonial Penn Term Policies, Expires At A Certain Age
We are not going to spend much time on this topic, mainly because this is not an Apples-to-Apples comparison. It’s VERY worthy of mentioning and for you to be aware of the differences between Whole and Term, as it applies to Final Expense and Burial Insurance.
For now, just be aware that you will be offered TERM INSURANCE when getting a quote on the Colonial Penn website, the rates will be relatively low, PLEASE REMEMBER; #1) it’s term insurance, the policy will expire, #2) the policy does not accumulate cash value and #3) your rates will increase every 5 years.
What Is A Colonial Penn Unit?
If you ask 100 agents, brokers, producers or any professional in the insurance industry, WHAT IS A COLONIAL PENN UNIT? My guess is that at least 99 of those 100 have no clue about a Colonial Penn Unit.
We are that 1 out of 100 that kind of understands a Colonial Penn unit. This is unfortunate, because the concept of a unit is actually a good one! The problem with a unit is that it’s so foreign to the industry and to consumers that despite it being a great concept or idea, it’s very hard to grasp.
SO, WHAT IS A UNIT?
A unit is “the amount of coverage or benefit for $9.95”, perhaps it would have been better to choose a whole number like $10 (which would make it infinitely easier to understand).
This is the opposite of how the industry has historically operated. Historically you either shop for life insurance;
- For a given budget (premium) calculate the amount of coverage
- For a given benefit, then calculate the premium
Colonial Penn requires you purchase UNITS (whole units, you can’t purchase 1 1/2 units). So your payment for GUARANTEED ISSUE WILL ALWAYS BE A MULTIPLE OF $9.95 (once again, confusing – wish they would have used $10!!!)
- 1 Unit = $9.95
- 2 Units = $19.90
- 3 Units = $29.85
- 4 Units = $39.80
- 5 Units = $49.75
- 6 Units = $59.70
- 7 Units = $69.65
- 8 Units = $79.60
Why Did We Stop At 8 Units?
Because, that is all you can purchase, 1-8 units and that’s it! Every unit costs $9.95 for everyone, the coverage (benefit) per unit changes for men/women and for each year of age.
To calculate how much you will pay and how much coverage you will get from Colonial Penn, use the two formulas below.
Your total monthly cost= [$9.95] x [Number of units to purchase]
Your total death benefit= [Coverage provided per unit at your age, male/female] x [Number of units]
Female Colonial Penn Guaranteed Acceptance Rates
| AGE | 2 Units= $19.90 | 4 Units= $39.80 | 6 Units= $59.70 | 8 Units= $79.60 |
|---|---|---|---|---|
| 50 | $4,166 in coverage | $8,332 in coverage | $12,498 in coverage | $16,664 in coverage |
| 51 | $4,136 in coverage | $8,272 in coverage | $12,408 in coverage | $16,544 in coverage |
| 52 | $4,044 in coverage | $8,088 in coverage | $12,132 in coverage | $16,176 in coverage |
| 53 | $3,946 in coverage | $7,892 in coverage | $11,838 in coverage | $15,784 in coverage |
| 54 | $3,858 in coverage | $7,716 in coverage | $11,574 in coverage | $15,432 in coverage |
| 55 | $3,768 in coverage | $7,536 in coverage | $11,304 in coverage | $15,072 in coverage |
| 56 | $3,676 in coverage | $7,352 in coverage | $11,028 in coverage | $14,704 in coverage |
| 57 | $3,572 in coverage | $7,144 in coverage | $10,716 in coverage | $14,288 in coverage |
| 58 | $3,464 in coverage | $6,928 in coverage | $10,392 in coverage | $13,856 in coverage |
| 59 | $3,352 in coverage | $6,704 in coverage | $10,056 in coverage | $13,408 in coverage |
| 60 | $3,242 in coverage | $6,484 in coverage | $9,726 in coverage | $12,968 in coverage |
| 61 | $3,124 in coverage | $6,248 in coverage | $9,372 in coverage | $12,496 in coverage |
| 62 | $3,012 in coverage | $6,024 in coverage | $9,036 in coverage | $12,048 in coverage |
| 63 | $2,904 in coverage | $5,808 in coverage | $8,712 in coverage | $11,616 in coverage |
| 64 | $2,784 in coverage | $5,568 in coverage | $8,352 in coverage | $11,136 in coverage |
| 65 | $2,666 in coverage | $5,332 in coverage | $7,998 in coverage | $10,664 in coverage |
| 66 | $2,546 in coverage | $5,092 in coverage | $7,638 in coverage | $10,184 in coverage |
| 67 | $2,428 in coverage | $4,856 in coverage | $7,284 in coverage | $9,712 in coverage |
| 68 | $2,314 in coverage | $4,628 in coverage | $6,942 in coverage | $9,256 in coverage |
| 69 | $2,198 in coverage | $4,396 in coverage | $6,594 in coverage | $8,792 in coverage |
| 70 | $2,086 in coverage | $4,172 in coverage | $6,258 in coverage | $8,344 in coverage |
| 71 | $1,974 in coverage | $3,948 in coverage | $5,922 in coverage | $7,896 in coverage |
| 72 | $1,864 in coverage | $3,728 in coverage | $5,592 in coverage | $7,456 in coverage |
| 73 | $1,760 in coverage | $3,520 in coverage | $5,280 in coverage | $7,040 in coverage |
| 74 | $1,668 in coverage | $3,336 in coverage | $5,004 in coverage | $6,672 in coverage |
| 75 | $1,584 in coverage | $3,168 in coverage | $4,752 in coverage | $6,336 in coverage |
| 76 | $1,506 in coverage | $3,012 in coverage | $4,518 in coverage | $6,024 in coverage |
| 77 | $1,434 in coverage | $2,868 in coverage | $4,302 in coverage | $5,736 in coverage |
| 78 | $1,366 in coverage | $2,732 in coverage | $4,098 in coverage | $5,464 in coverage |
| 79 | $1,304 in coverage | $2,608 in coverage | $3,912 in coverage | $5,216 in coverage |
| 80 | $1,240 in coverage | $2,480 in coverage | $3,720 in coverage | $4,960 in coverage |
| 81 | $1,178 in coverage | $2,356 in coverage | $3,534 in coverage | $4,712 in coverage |
| 82 | $1,120 in coverage | $2,240 in coverage | $3,360 in coverage | $4,480 in coverage |
| 83 | $1,062 in coverage | $2,124 in coverage | $3,186 in coverage | $4,248 in coverage |
| 84 | $1,006 in coverage | $2,012 in coverage | $3,018 in coverage | $4,024 in coverage |
| 85 | $954 in coverage | $1,908 in coverage | $2,862 in coverage | $3,816 in coverage |
Male Colonial Penn Guaranteed Acceptance Rates
| AGE | 2 Units= $19.90 | 4 Units= $39.80 | 6 Units= $59.70 | 8 Units= $79.60 |
|---|---|---|---|---|
| 50 | $3,572 in coverage | $7,144 in coverage | $10,716 in coverage | $14,288 in coverage |
| 51 | $3,464 in coverage | $6,928 in coverage | $10,392 in coverage | $13,856 in coverage |
| 52 | $3,352 in coverage | $6,704 in coverage | $10,056 in coverage | $13,408 in coverage |
| 53 | $3,242 in coverage | $6,484 in coverage | $9,726 in coverage | $12,968 in coverage |
| 54 | $3,124 in coverage | $6,248 in coverage | $9,372 in coverage | $12,496 in coverage |
| 55 | $3,012 in coverage | $6,024 in coverage | $9,036 in coverage | $12,048 in coverage |
| 56 | $2,904 in coverage | $5,808 in coverage | $8,712 in coverage | $11,616 in coverage |
| 57 | $2,784 in coverage | $5,568 in coverage | $8,352 in coverage | $11,136 in coverage |
| 58 | $2,666 in coverage | $5,332 in coverage | $7,998 in coverage | $10,664 in coverage |
| 59 | $2,546 in coverage | $5,092 in coverage | $7,638 in coverage | $10,184 in coverage |
| 60 | $2,428 in coverage | $4,856 in coverage | $7,284 in coverage | $9,712 in coverage |
| 61 | $2,314 in coverage | $4,628 in coverage | $6,942 in coverage | $9,256 in coverage |
| 62 | $2,198 in coverage | $4,396 in coverage | $6,594 in coverage | $8,792 in coverage |
| 63 | $2,086 in coverage | $4,172 in coverage | $6,258 in coverage | $8,344 in coverage |
| 64 | $1,974 in coverage | $3,948 in coverage | $5,922 in coverage | $7,896 in coverage |
| 65 | $1,864 in coverage | $3,728 in coverage | $5,592 in coverage | $7,456 in coverage |
| 66 | $1,760 in coverage | $3,520 in coverage | $5,280 in coverage | $7,040 in coverage |
| 67 | $1,668 in coverage | $3,336 in coverage | $5,004 in coverage | $6,672 in coverage |
| 68 | $1,584 in coverage | $3,168 in coverage | $4,752 in coverage | $6,336 in coverage |
| 69 | $1,506 in coverage | $3,012 in coverage | $4,518 in coverage | $6,024 in coverage |
| 70 | $1,434 in coverage | $2,868 in coverage | $4,302 in coverage | $5,736 in coverage |
| 71 | $1,366 in coverage | $2,732 in coverage | $4,098 in coverage | $5,464 in coverage |
| 72 | $1,304 in coverage | $2,608 in coverage | $3,912 in coverage | $5,216 in coverage |
| 73 | $1,240 in coverage | $2,480 in coverage | $3,720 in coverage | $4,960 in coverage |
| 74 | $1,178 in coverage | $2,356 in coverage | $3,534 in coverage | $4,712 in coverage |
| 75 | $1,120 in coverage | $2,240 in coverage | $3,360 in coverage | $4,480 in coverage |
| 76 | $1,062 in coverage | $2,124 in coverage | $3,186 in coverage | $4,248 in coverage |
| 77 | $1,006 in coverage | $2,012 in coverage | $3,018 in coverage | $4,024 in coverage |
| 78 | $954 in coverage | $1,908 in coverage | $2,862 in coverage | $3,816 in coverage |
| 79 | $900 in coverage | $1,800 in coverage | $2,700 in coverage | $3,600 in coverage |
| 80 | $852 in coverage | $1,704 in coverage | $2,556 in coverage | $3,408 in coverage |
| 81 | $848 in coverage | $1,696 in coverage | $2,544 in coverage | $3,392 in coverage |
| 82 | $846 in coverage | $1,692 in coverage | $2,538 in coverage | $3,384 in coverage |
| 83 | $842 in coverage | $1,684 in coverage | $2,526 in coverage | $3,368 in coverage |
| 84 | $840 in coverage | $1,680 in coverage | $2,520 in coverage | $3,360 in coverage |
| 85 | $836 in coverage | $1,672 in coverage | $2,508 in coverage | $3,344 in coverage |
Cheapest, Lowest Priced and Most Affordable Final Expense & Burial Insurance
How about we summarize ALL THIS INFORMATION INTO A COUPLE BITE SIZE PARAGRAPHS!
Who Should Consider Purchasing Colonial Penn Life Insurance?
- You should purchase if your budget is exactly $9.95 per month … AND … you have major health issues
- If you are part of the Alex Trebek fan club or you trust Alex so much that you do not mind a higher premium
- If you are SUPER DUPER HEALTHY NON-SMOKING 50-57 year old female
- If you are a SUPER DUPER HEALTHY NON-SMOKING 50 year old male
Who Should NOT Consider Purchasing Colonial Penn Life Insurance?
- Anyone NOT included in the list above (the vast majority of the population)
If You Have Serious Health Issues, Which Insurance Companies Should I Look Into?
Once again, if your budget is exactly $9.95 (you can even include exactly $19.90 or 2 Units of Colonial Penn), then Colonial Penn is your only choice. If your budget is anything other than exactly $9.95 or $19.90, we recommend you look into;
- AIG
- Gerber
- Pekin
- Pacific Life
Female
| AGE | Colonial Penn | Gerber Life | AIG |
|---|---|---|---|
| 50 | $8,332= $39.80 | $8,000= $22.70 | $8,000= $29.06 |
| 51 | $8,272= $39.80 | $8,000= $23.72 | $8,000= $29.74 |
| 52 | $8,088= $39.80 | $8,000= $24.82 | $8,000= $30.52 |
| 53 | $7,892= $39.80 | $8,000= $26.00 | $8,000= $31.02 |
| 54 | $7,716= $39.80 | $8,000= $27.32 | $6,000= $24.19 |
| 55 | $7,536= $39.80 | $7,000= $25.36 | $7,000= $28.50 |
| 56 | $7,352= $39.80 | $7,000= $26.65 | $7,000= $29.14 |
| 57 | $7,144= $39.80 | $7,000= $28.06 | $7,000= $29.87 |
| 58 | $6,928= $39.80 | $7,000= $29.54 | $7,000= $30.53 |
| 59 | $6,704= $39.80 | $7,000= $31.14 | $7,000= $31.27 |
| 60 | $9,726= $59.70 | $10,000= $46.48 | $10,000= $45.14 |
| 61 | $9,372= $59.70 | $9,000= $43.49 | $9,000= $42.07 |
| 62 | $9,036= $59.70 | $9,000= $45.14 | $9,000= $43.48 |
| 63 | $8,712= $59.70 | $9,000= $46.70 | $9,000= $45.12 |
| 64 | $11,136= $79.60 | $11,000= $58.90 | $11,000= $56.96 |
| 65 | $10,664= $79.60 | $10,000= $55.46 | $10,000= $54.51 |
| 66 | $10,184= $79.60 | $10,000= $57.57 | $10,000= $57.18 |
| 67 | $9,712= $79.60 | $10,000= $60.04 | $10,000= $60.21 |
| 68 | $9,256= $79.60 | $9,000= $56.52 | $9,000= $56.98 |
| 69 | $8,792= $79.60 | $9,000= $59.16 | $9,000= $59.93 |
| 70 | $8,344= $79.60 | $8,000= $55.18 | $8,000= $56.73 |
| 71 | $7,896= $79.60 | $8,000= $58.12 | $8,000= $60.13 |
| 72 | $7,456= $79.60 | $7,000= $53.66 | $7,000= $56.24 |
| 73 | $7,040= $79.60 | $7,000= $56.55 | $7,000= $59.47 |
| 74 | $6,672= $79.60 | $7,000= $59.82 | $7,000= $63.14 |
| 75 | $6,336= $79.60 | $6,000= $54.54 | $6,000= $58.29 |
| 76 | $6,024= $79.60 | $6,000= $60.76 | $6,000= $62.36 |
| 77 | $5,736= $79.60 | $6,000= $67.80 | $6,000= $66.99 |
| 78 | $5,464= $79.60 | $5,000= $62.98 | $5,000= $59.67 |
| 79 | $5,216= $79.60 | $5,000= $69.58 | $5,000= $63.65 |
| 80 | $4,960= $79.60 | $5,000= $76.54 | $5,000= $68.56 |
Male
| AGE | Colonial Penn | Gerber Life | AIG |
|---|---|---|---|
| 50 | $7,144= $39.80 | $7,000= $27.16 | $7,000= $36.95 |
| 51 | $6,928= $39.80 | $7,000= $27.93 | $7,000= $37.51 |
| 52 | $6,704= $39.80 | $7,000= $28.89 | $7,000= $38.14 |
| 53 | $6,484= $39.80 | $6,000= $25.94 | $6,000= $33.47 |
| 54 | $6,248= $39.80 | $6,000= $26.99 | $6,000= $34.02 |
| 55 | $6,024= $39.80 | $6,000= $28.03 | $6,000= $34.70 |
| 56 | $5,808= $39.80 | $6,000= $29.02 | $6,000= $35.41 |
| 57 | $8,352= $59.70 | $8,000= $39.86 | $8,000= $47.62 |
| 58 | $7,998= $59.70 | $8,000= $41.69 | $8,000= $48.57 |
| 59 | $7,638= $59.70 | $8,000= $43.60 | $8,000= $49.63 |
| 60 | $7,284= $59.70 | $7,000= $39.93 | $7,000= $44.82 |
| 61 | $6,942= $59.70 | $7,000= $41.34 | $7,000= $46.02 |
| 62 | $6,594= $59.70 | $7,000= $42.82 | $7,000= $47.38 |
| 63 | $6,258= $59.70 | $6,000= $38.15 | $6,000= $41.96 |
| 64 | $5,922= $59.70 | $6,000= $39.69 | $6,000= $43.17 |
| 65 | $7,456= $79.60 | $7,000= $48.08 | $7,000= $51.76 |
| 66 | $7,040= $79.60 | $7,000= $49.81 | $7,000= $53.59 |
| 67 | $6,672= $79.60 | $7,000= $52.25 | $7,000= $55.66 |
| 68 | $6,336= $79.60 | $6,000= $47.56 | $6,000= $50.45 |
| 69 | $6,024= $79.60 | $6,000= $50.42 | $6,000= $53.24 |
| 70 | $5,736= $79.60 | $6,000= $53.11 | $6,000= $56.69 |
| 71 | $5,464= $79.60 | $5,000= $47.21 | $5,000= $50.58 |
| 72 | $5,216= $79.60 | $5,000= $50.42 | $5,000= $54.00 |
| 73 | $4,960= $79.60 | $5,000= $54.08 | $5,000= $56.62 |
| 74 | $4,712= $79.60 | $5,000= $58.21 | $5,000= $59.58 |
| 75 | $4,480= $79.60 | $5,000= $62.79 | $5,000= $63.25 |
Colonial Penn Life Insurance Summary and Takeaway
We sincerely hope you have found this information helpful. A lot of time and sweat equity went into researching and writing this article. There are also a handful of cases we had where a client had wished they did more research before making a purchasing decision.
- NOTE 1: If you have any buyers remorse feelings at all about Colonial Penn or any other company or any other policy, please do contact us and we will provide a truthful, honest and unbiased analysis of your existing policy.
- NOTE 2: If you are looking to replace an existing policy or we provide an analysis where you wish to replace a policy, we do a policy replacement REALLY FAST and it’s REALLY SIMPLE.
Our mission is take the deepest dive possible into any and all insurance companies, find the good things and the not so good things and provide a thorough and professional analysis and review of that company. We put forth this much effort into a review article like this one because we care about putting real honest, truthful and actionable information at your fingertips to help you make the best decision possible for you and to help you protect your family.
