You can choose to pay monthly, quarterly, semi-annually, or annually. No medical exam from Colonial Penn skips the exams and paperwork, and you can get life insurance even if you have some health issues. We never recommend products based on which one pays us the most. How Does The Colonial Penn $9.95 Plan Work? This means there are no health questions or medical exams to qualify. Who is Jonathan Lawson from Colonial Penn? It's permanent life insurance with a premium that will never increase and builds cash value. You want $10,000 of coverage to take care of your funeral expenses. What he is promoting is a guaranteed issue life insurance policy that charges $9.95 per unit of insurance. If you want to provide your family with financial security when you As you can see, our John Doe example can purchase$8,000 in coverage for less than $68. Jonathan Lawson Colonial Penn Life Insurance not Worth it. Over the years, Colonial Penn has focused on selling life insurance that is specifically designed for seniors and older customers. This means there are no health questions or medical exams to qualify. Yes, Jonathan Lawson is a real person. Get 5 free searches. Fill our the form and well contact you shortly. They are the most expensive policy available when you compare the monthly premium to the amount of coverage you receive. " Or maybe you saw " Guaranteed Acceptance with NO health questions. The name Jonathan Lawson has a bit of a ring to it. Who Is Jonathan Lawson Of Colonial Penn? He was born on February 10, 1961 in Apex, North Carolina to Raymond (who predeceased him in death) and Frances . However, the $9.95 Colonial Penn Plan does not provide high-value for seniors looking for coverage, typically. His age is 42 years old in the current year 2022. The minimum age to apply for Colonial Penn is 50 years old. The central theme in this commercial is to let people know that many people procrastinate on a subject like life insurance. No, Colonial Penn does not offer life insurance to non-U.S. citizens. All guaranteed issue policies have a graded benefit. Since 2018, Colonial Penn sales manager Jonathan Lawson has appeared as a pitchman in the commercials while Trebek was unavailable at times due to health issues. You dont have to be in perfect health to qualify. How did Lawson describe Native . Our expert-level training allows our agents to find coverage for seniors with preexisting health conditions like COPD, Cancer, HIV, CHF, Heart Issues, heart attacks and much more. The maximum coverage you can get with Colonial Penn 9.95 is $16,664 (but this will be extremely expensive as you have to add up multiple units to get that much coverage). Fill out our quote form on this page or call us at (888) 862-9456, and we can give you an accurate burial insurance quote. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more. We will match you up with the best burial insurance company that gives the best rate. How To Qualify With Pre-Existing Conditions, No Waiting Period Life & Burial Insurance, Mutual of Omaha Children's Life Insurance. Colonial Penn Life Insurance is just $9.95, thats a no-brainer! Call us at +1 (866) 311-4338 and let us assist with providing your family piece of mind and providing you with the lowest premiums available. What is the payout for a Colonial Penn policy? Information appearing on this site is for educational purposes. Colonial Penn was a pioneer in designing insurance products to meet the needs of the mature market, and in 1968 became one of the first insurers to offer a Guaranteed Acceptance Life Insurance . A 65-year-old female gets $1,258 in coverage from a unit. The waiting period for a payout with Colonial Penn is two years on all new policies. Gnathan by family and friends, transitioned on July 1, 2018 at Mount. Colonial Penns two-year wait will not pay out a death benefit if you die from natural causes within the first two years of the policy. The good news is, here at Final Expense Benefits, we work with companies that offer burial insurance with no waiting period and burial insurance with no medical exam. Our review of the Colonial Penn life insurance company will cover everything you need to know about them, their products, rates, and their confusing Unit pricing. You must consider how much coverage you get per unit, which is determined by your gender and exact age. How much coverage you get for a unit of coverage varies depending on your age and gender. Does Jonathan Lawson really work for Colonial Penn? Make sure you read the $9.95 plan reviews to determine if it's the right choice for you. The scoring formula takes into account consumer experience, financial strength ratings and complaint data. Licenses. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. We are sure that a lot of Americans have seen the commercial, featuring popular TV host, The best and cheapest prices on burial insurance for seniors, Insurance agents that arent aggressive or pushy, Payout in as little as 48 hours after death. Most folks should not be buying guaranteed acceptance coverage from Colonial Penn. The Colonial Penn 9.95 plan is a guaranteed acceptance life insurance policy with minimal coverage that costs $9.95 per month PER UNIT of coverage (often only between $400-$1,000 depending on your age). Will Colonial Penn or some other company like Aetna, Americo or Cigna Life get you the best deal? We calculated a sample John Doe quote for the Colonial Penn Guaranteed Acceptance product. Therefore, every applicant will get a different coverage amount for the same exact premium. Colonial Penn is a reputable company. Unlike some burial insurance or guaranteed issue life insurance from companies that let you choose a particular face amount or death benefit payout, Colonial Penn gets your age, gender, and state, then they assign you a unit of coverage which you can buy for $9.95. How much coverage you get from each $9.95 unit depends on your gender and age. For instance, most companies will simply provide consumers a simple choice of $10,000 or $25,000 for their maximum coverage amount. Once again, we used a 65 year old a male from Florida for our example. Liked by Jonathan Lawson The use of any trade name or trademark is for identification and reference purposes only and does not imply any association with the trademark holder of their product brand. A unit of Colonial Penn life insurance is $9.95. Once youve filled out the calculator, one of our licensed agents will provide you all your options and plan out who will provide you the best rate based on your specific health and goals. The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, . He was 35. You need to be aware: Colonial Penns term rates will increase in time when your life insurance policy renews when youre older. The Colonial Penn 9.95 plan is not a term policy. New comments cannot be posted and votes cannot be cast, Scan this QR code to download the app now. David Duford is a nationally licensed insurance expert with over ten years of experience. A unit of life insurance is the minimum amount of coverage you can purchase, and an increase in coverage will be a multiple of that basic unit. Here are three insurance providers that give you much more bang for your buck. Jonathan Lawson is the actor that currently appears in the Colonial Penn commercials. Customer Service Manager @ Colonial Penn Life Insurance; Telesales Manager @ Colonial Penn Life Insurance; Education. Lawson can be found on LinkedIn, but his actual job is unclear. It will remain for life unless you cancel it or stop paying your premium. Telesales Agent Opportunities. However, you will need to answer some health questions on the application and you will have a 2-year waiting period where it will not pay for any health or medical-related death. Make a Payment - Credit Card Please call 1-800-523-9100 , For NY Residents 1-800-323-4542. This site provides insurance information and quotes. Simplified issue life insurance Simplified whole life, or permanent, insurance policies of up to $50,000 are available for consumers up to age 75 without a medical exam or lab tests. Product and policy availability, features, and benefits may vary by state. However, there are no refunds on premiums paid. Do I have to take a medical exam for Colonial Penn 9.95? He graduated high school in 1998 and spent the following 14 years as an infantryman in the Marine Corps where he not only served in combat, but also was a Master Instructor at the Marine Corps University. Natural causes of death are diseases that include heart attack, stroke, diabetes, or cancer. You should never purchase a guaranteed issue policy unless youre uninsurable. Unlike Colonial Penn which mostly wants to set you up through the mail, we can get your policy started in less than 30 minutes. We are nationally recognized life insurance experts. Even if you have some significant health risks, you may qualify for a no medical exam simplified issue policy. All company names and products are the registered trademarks of their original owners and Funeral Funds of America declares no affiliation, sponsorship, nor any partnerships with any registered trademarks unless otherwise stated.. How Does The Johnathan Lawson Colonial Penn Life Insurance Plan Work? " Colonial Penn Coverage options start at $9.95 a month, less than 35 cents a day, and the rate is locked in for life! All guaranteed acceptance plans with no health questions will be subject to the insurers defined waiting period before benefits become payable under the policy provisions. If you die in the first two years, Colonial Penn will only refund your premiums plus a small amount of interest. This comes with a catch. That said, our evaluations, commentary, opinions, and recommendations are not influenced by monetary gain. Based on what you can find online he has a net worth of $15-$17 million dollars. The unit refers to the total death benefit available based on how old you are and your gender. The Colonial Penn guaranteed acceptance plan is a whole life policy with no health questions. Is the Colonial Penn 9.95 plan a permanent policy? The accumulated cash value from your policy can be borrowed at an 8% annual interest rate. Do Not Sell How much are Colonial Penns life insurance rates? To see pricing on policies and speak with one of our agents fill out the form to your right. First of all Colonial Penn is a gimmick not worth buying for any senior period. I and my agents have expert-level training that is second to none in the industry. It should be used for informational purposes only and is subject to change. The exact amount we get paid for each sale varies depending on the applicants age, health, and the specific product applied for. If you want to make sure youre getting the best life insurance policy available, heres what you need to do. The carrier has received high ratings through A.M. Best and the BBB and has demonstrated consistent financial strength. Colonial Life has earned a reputation as being one of the most respected insurance companies offering life insurance in the US. Youll want to check the Colonial Penn 995 Plan rate chart that we created so you can see exactly what $9.95 gets you. (2023, February 16). With this plan, you can receive a coverage maximum of $50,000, and it is available to anyone between the ages of 18 and 75. Derrick Rose of the Chicago Bulls works against Ty Lawson of the Denver Nuggets during a preseason game at the United Center on October 25, 2013 in. What is the minimum age to apply for Colonial Penn? Privacy Policy. The company had been using Alex Trebek as its spokesperson for years, but the late actor passed away in 2020, making a new spokesperson necessary. 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