No matter where you are in your life, it’s good to plan ahead. That’s why one of the best things you can do to protect your family’s future needs is to educate yourself about life insurance. Unfortunately, many people delay this whole process or choose to skip it altogether because they find the process too difficult, too confusing, or tend to believe they don’t really need life insurance. Yet what ends up happening is that disaster strikes and people realize too late that life insurance is a fundamental part of a sound financial plan.
Another aspect that many people get wrong is that they think life insurance is too expensive. Still, depending on the type of policy you need, life insurance can be relatively inexpensive. Plus, when you work with Colonial Penn, the entire process of obtaining life insurance can be quick, simple and painless.
Why buy life insurance?
Before we tell you how Colonial Penn can provide you with the coverage you need, let’s start with the basics and explain why you really need life insurance. Although there are many reasons, the most important are:
- Protect your family: If your family depends on you financially, life insurance is crucial as it will replace your income when you die. Life insurance gives your family the support they need to pay their bills and live their lives.
- leave a legacy: A great way to provide your children with a stable financial future is to purchase life insurance, even if you have no other assets to pass on. When you purchase life insurance and name your children as beneficiaries, you can end up creating an inheritance for them.
- Add financial security: Any parent or spouse wants to know that their family is taken care of after they leave. That’s why buying life insurance can give people the peace of mind they can give their family, even if they’re not around.
- Reimburse expenses: One of anyone’s worst fears is to leave their family in financial turmoil after their death. Fortunately, with life insurance, you can provide your loved ones with additional financial support or income that can cover living expenses, unpaid debts, and even costs related to burial and funeral expenses.
Colonial Penn Life Insurance Review
Colonial Penn is a well-known life insurance company that offers direct-to-consumer guaranteed insurance, term life insurance, and whole life insurance policies. Colonial Penn offers a limited range of plan options, making it a convenient choice for people who have been denied life insurance in the past due to medical conditions.
When you choose Colonial Penn life insurance, you’ll not only get great coverage, but you’ll also get the following benefits.
If you are a senior between 50 and 85 years old, you are guaranteed to be accepted
With the Guaranteed Acceptance Policy, Colonial Penn will not turn you away as a customer based on medical history or pre-existing conditions. In fact, you do not need to pass a medical examination.
Try the plan for 30 days
When starting a plan, Colonial Penn will give you a 30-day trial to see if you like it or not. With this trial, customers have the option to cancel their plan within 30 days and receive a refund.
Quickly get a quote online
Most insurance companies require you to contact an agent for a quote. Fortunately, with Colonial Penn, you can get a quote and purchase a policy online. Before deciding to choose Colonial Penn as your life insurance provider, it is recommended that you also compare quotes from other companies.
The 995 diet. Is it really $9.95?
Yes, but that price is a bit misleading. Colonial Penn specializes in life insurance products with limited underwriting and smaller death benefits, making them only suitable for those who need to have very limited coverage in place quickly.. You may want to consider other options that are more suitable for your situation, and we’ve found that you can usually get better coverage and lower premiums by using a price comparison service, which you can try by clicking on the button above.
The Guaranteed Acceptance Program
When you choose Colonial Penn’s Guaranteed Acceptance Program, all you need to do is provide your age, gender, and place of residence. At this point, Colonial Penn will assign you a “unit” of coverage that can be purchased for $9.95. If you want to buy more units (you can buy up to eight cover units), the price of each unit will remain fixed at $9.95. But again, you should check out other alternatives, such as Sproutt Life Insurance, because you may be able to get better coverage from other companies for the same price. To find the coverage best suited to your needs, click the button above to compare quotes.
Are there better alternatives?
Again, yes! We encourage all of our readers to look for plans at other companies. It doesn’t take a long time to do it. Choosing a life insurance policy is an important financial decision. Don’t take it lightly. If Colonial Penn’s 995 Life Insurance Plan doesn’t meet your specific needs, check out other companies, such as; Sproutt, or fill out the form at the top of this article to see a list of other affordable options that can give you the coverage you need, especially plans that can cover your final expenses.
If you are between 40 and 75 years old, consider the permanent whole life insurance plan
The permanent whole life plan provides coverage that lasts your lifetime, but you can also get coverage up to $50,000. Generally, to be eligible for the whole life insurance plan, you do not need to pass a medical exam. However, underwriters may review your application and the answers you provide to assess your eligibility for insurance.
Get a maximum of $50,000 with renewable term life insurance
At Colonial Penn, this option is the only option for those 40 and under. With this plan, you can receive coverage up to $50,000 and it’s available to anyone between the ages of 18 and 75.
Runners available under Colonial Penn
In addition to your standard coverage, you can also purchase endorsements or additions to your policies that may enhance or modify your coverage. For example, you can add life insurance to a renewable life insurance policy or a permanent whole life insurance policy. This option allows a person with cancer, a chronic illness or a heart attack to pre-purchase a maximum of 50% of their coverage to help pay for their care.
Do not wait any longer and delay this crucial financial investment. If you are looking for the best life insurance policy for you and your family, we invite you to compare rates by clicking the button below. After entering your zip code, the form will take you directly to BestInsurer, where the price comparison service will show you a list of insurers in your area with the best rates.
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