Colonial Penn 995 Life Insurance - You're flipping through the channels, trying to find something to watch, when a familiar old face comes on the TV.
“I can do this, Alex,” you say to the TV as you turn up the volume and pay a little more attention.
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What your ex doesn't tell you is what's in the fine print. Colonial Penn offers life insurance sold on a non-deductible basis - per unit.
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And while Colonial Penn wants you to think it's a good deal, it's far from the truth as you might think.
You've lived long enough to know that if it sounds TOO GOOD TO BE TRUE, it probably isn't.
Find out why Colonial Penn Senior Life Insurance for $9.95 a unit policy is not your best choice and perhaps one of your worst choices to prepare for when the good Lord calls you home.
When you buy life insurance from a reputable life insurance company, you are buying the death benefit, not the life insurance component. For example, let's say you want to pay for funeral expenses and final medical bills, so you need $25,000 of coverage.
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From the life insurance company, you can buy this amount of insurance. At Colonial Penn, you can only buy one unit.
The units are a little weird because as you get older the death benefit amount is eligible to decrease while the unit price stays the same.
Let's say you're a 68-year-old man living in Houston. You call Colonial Penn to get a $15,000 insurance quote and they tell you they can't do that - you have to buy units.
For a 68-year-old male, 1 unit at $9.95 per month is worth a total of $792 in life insurance.
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Yes, $792 instead of $9.95 per month for one unit. Now, you wanted $15,000 in insurance, right? Unfortunately, the maximum number of units you can buy at Colonial Penn is 12. That means the most a 68-year-old man can buy is $9,504 in life insurance with a monthly premium of $119.40.
Colonial Penn will be happy to get you this coverage today without having to answer any medical questions or medical tests. Just fill out the application, submit the payment, and assume you've covered the full amount you're eligible for.
However, apart from not having as much coverage as you originally wanted, there are other reasons why these policies are always the best choice. especially the elderly in average health.
Guaranteed Benefit plans like these have a 2-year waiting period for death from natural causes. That is, if you die from an illness or pre-existing medical condition during the first two years, you will not receive the full amount of your benefit.
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What Colonial Penn doesn't tell you is that most seniors will qualify for a plan with 1 day coverage and lower rates than other companies.
Final Express Direct can usually find you a low monthly policy that offers a great death benefit and you'll be fully covered from day 1! You don't have to wait two years for your policy to start protecting your family.
Life insurance with no health questions or medical questions is called guaranteed life insurance because you are guaranteed hassle-free insurance.
In whole life insurance, your beneficiary does not receive the full death benefit if you die within the first two years of the policy.
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Note: According to a Penn State University study, 99 percent of all insurance policies never pay a claim. Contact us to make sure your family receives the benefits of your life insurance.
If you're in heart failure, on oxygen, or very sick, you'd better bet you'll live for the next two years.
But for most red-blooded, God-fearing, hard-working Americans, it's probably not the best choice.
If you die during the first two policy years, you'll only receive what's known as a graduated death benefit, which means Colonial Penn will return the premiums you paid, plus interest. This is.
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So while Alex is happy to sell you some cheap guaranteed life insurance, Colonial Life doesn't want you to know what's in the fine print.
At the end of the day everyone wants an honest company that will do what they say at a fair price.
I think you'll find that in this section of Colonial Penn Life Insurance Reviews we try to answer these questions.
No one doubts that Colonial Penn has the ability to pay claims, they've been around a long time and they're a financially sound company.
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However, their life insurance costs are much lower than their competitors. They just found a way to package that $9.95 unit that Alex Trebek sold you.
Don't be fooled, colonial life insurance is much more expensive, call me and I can explain better. Call 1-877-674-0236 and you will reach a live person on the other end immediately.
Finally, after reading countless reviews of Colonial Penn Life Insurance, I can tell you that their customer service is not rated highly. In fact, it's probably the most complained about of all.
Do you really want to pay more for life insurance and then have your family fight for months or years with this company to get the money you planned to have when you pass?
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Let Final Expense Direct help you find the most affordable final expense insurance with the best customer service for your family today.
The Better Business Bureau is an independent agency that monitors interactions between American businesses and American consumers, just like you.
It is a well-respected organization that allows customers to use third parties to document their feelings about their past experiences.
For these reasons at Final Expense Direct, we value the company's BBB rating and customer reviews.
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Colonial Penn Life Insurance reviews from BBB, the Better Business Bureau, are very negative. They show an average customer rating as of 6/19/2022 of 1.09 out of 5.0.
Greg S. on 5/30/2022 reviewed Colonial Penn 995 Plan as 1 star, saying they took advantage of his parents and was very disappointed with Alex Trebeck they were associated with.
Complaints about Colonial Penn Life Insurance's customer service keep pouring in. Like Sharon B. in her review on 6/13/2022 where she described the multiple calls to customer service to try to pay their mother's life insurance for 24 years.
One problem after another and one of the departments never seems to know what the other is doing. Sharon's Colonial Penn Life Insurance review and complaint above is similar to many others.
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But, don't believe me, you can do your own research and check out Colonial Penn Life Insurance Reviews from the Better Business Bureau here.
For one final fee, we work directly with a long list of life insurance carriers to bring you a product:
And the best part - the full death bonus is available from day 1! If you buy a final cost life insurance policy through the FED and you die the next day, your beneficiary receives the full death benefit, whether it's $10,000 or $100,000.
Now, we're asking you some health questions, which we know Colonial Penn doesn't ask. But the reason we ask these medical questions is because it helps us find you the best insurance at the lowest price.
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While Colonial Penn usually prefers to do business with you by mail, we are now available by phone. No need to jump through hoops when you call us.
Just pick up the phone, dial 1-877-674-0236 and you're instantly transferred to a live person on the other end.
At FED, we have over 35 years of experience working with people like you, who are the backbone of America. You've worked hard your whole life, and we want you to have as much money as possible while still getting as much life insurance as you can to protect your family while you're gone.
After answering a few health questions, we can help you choose the best life insurance plan available. We completed the application on the same phone and approved it before you hung up.
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Just one phone call to Final Cost Direct and you'll be in touch with a whole life insurance policy. You also get accidental death cover, which means your beneficiary gets more money if you die in an accident - which is more likely if you're not already ill.
Watching Alex Trebek in the Colonial Penn commercials might make you a little nostalgic, don't fall for the silver fox's well-intentioned words.
Instead, talk to an FED representative so we can help you find the best life insurance for your family, not what Alex Trebek found in an ad.
Why pay more when you don't have to? Answer a few simple health questions to unlock whole life insurance that works for you from day one.
Colonial Penn Life Insurance $9.95 Per Month Review
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