You need to be aware: Colonial Penn's term rates will increase in time when your life insurance policy renews when you're older. You should never purchase a guaranteed issue policy unless youre uninsurable. Jonathan features in commercials and selects to represent the Colonial Penn company on Tv commercials now. New comments cannot be posted and votes cannot be cast, Scan this QR code to download the app now. However, you need to keep in mind the terms and also the fine print associated with the Colonial Penn 995 plan. This means that the policyholders beneficiary will receive a payout upon death, regardless of when it occurs. All guaranteed issue policies have a graded benefit. It's one of the more well-known insurance providers and has a large network of providers at its disposal, as well as training tools for its employees. Now, Colonial Penn customers who have benefited from Mr. Lawson's advice over the years say thank you to him, and thank you to Colonial Penn. They do this by not providing full coverage for the first two years of the policy for natural causes of death. If you die in the first two years, Colonial Penn will only refund your premiums plus a small amount of interest. Is the Colonial Penn 9.95 plan a whole life policy? Is the Colonial Penn 9.95 plan a permanent policy? When they state that everybody gets coverage at $9.95, pay attention to where it says coverage options start at. Yes, you can get coverage under Colonial Penn Life insurance, $9.95 per month. A 65-year-old female gets $1,258 in coverage from a unit. By pressing "See Quotes Now" you agree to our privacy policy and consent to have a Choice Mutual agent contact you by email, phone call, text/SMS message at the phone number and email you provide. Did you see the little * that was included in our comparison above? Get the full breakdown of the requirements, cost estimates, and tips for finding the best policy. How long has Colonial Penn Life Insurance been around? We are not endorsed by, directly affiliated with, maintained, authorized, or sponsored by any companies mentioned within Funeral Funds.com. No other life insurance company uses the unit system. You must be between the ages of 18 and 75 with the option to renew up to age 90. This is true of all other companies we work with at Funeral Funds. Still, thinking about purchasing the 995 plan? Is Colonial Life a scam/pyramid scheme/MLM? He is an actual employee of Colonial Penn and not just a paid endorser like Alex Trebek was. Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. If you shopping for a Colonial Penn plan or already have one of their policies, wed recommend shopping around especially if youre healthy. Jonathan Lawson Colonial Penn Life Insurance not Worth it. However, the $9.95 Colonial Penn Plan does not provide high-value for seniors looking for coverage, typically. According to ZoomInfo records, Jonathan Lawson's professional experience began in 1997. Who is Jonathan Lawson? No medical exam from Colonial Penn skips the exams and paperwork, and you can get life insurance even if you have some health issues. These figures were obtained from the NFDA and are estimates only. The Colonial Penn life insurance plan for $9.95 per month is a guaranteed acceptance whole life insurance policy with a waiting period of two years. Colonial Penn 9.95 gets you a guaranteed acceptance life insurance policy with a two-year waiting period and maximum coverage of $16,664, which is very expensive. Consent isnt a condition to purchase our products. Colonial Penn and Colonial life are not the same company. While working at Colonial Penn, he earned his degree. That is a critical factor to consider when weighing the. You can only receive a refund on premiums paid if you cancel your policy within the first 30 days. It isnt a scam. die, other life insurance companies can provide the protection you need. The unit system for the guaranteed acceptance plan is confusing; thats why the rates look appealing, but the practice is considered deceptive by many consumers. In short Jonathan Lawsons insurance is much more expensive than what other companies offer. Two years to be exact. For a detailed quote, please contact an agent. Term life insurance provides coverage for a set period of time, typically between 10 and 30 years, and is a simple and affordable option for many families. It is in fact guaranteed for you to be approved, regardless of any pre-existing conditions. What are the benefits of the Colonial Penn 9.95 plan? For a 68 year-old-male, 1 unit at $9.95 a month qualifies you for a. Well help you find the best company you can qualify for. In fact it is how all whole life insurance policies work. It has a two-year waiting period on all new policies and maximum coverage of $16,664 (but this will be extremely expensive as you have to add up multiple units to get that much coverage). We do earn a commission from the sale of insurance products seen on this website. In this review, we will go over Colonial Penn two year wait to understand more about the companys guaranteed acceptance product and you can see if its right for you. is in force or the death must occur within 90 days (180 days in Oregon and No part of this website may be copied, published, faxed, mailed, or distributed in any manner without prior written consent from the website owner. Join our team to enjoy . One unit of Colonial Penn Life Insurance is $9.95, regardless of your age and gender. This will result in a substantially cheaper premium and no waiting period. A unit of Colonial Penn life insurance is $9.95 and offers maximum coverage of $16,664 (but this will be extremely expensive as you have to add up multiple units to get that much coverage). The information on this website is being provided for informational or educational purposes only. Well, your monthly premium is obvious but how much coverage does Colonial Penn life insurance $9.95 per month get you? Jonathan Lawson is the actor that currently appears in the Colonial Penn commercials. friends by his side. We can assist seniors with burial insurance for age 60,70, and 80. This isnt unique to Colonial Penn. He continues to work with Colonial Penn and represents them in many commercials and TV advertisements. There are no medical exams and every applicant pays the same rates regardless of age, gender, or pre-existing conditions. Keep reading or use our easy table of contents below and jump right to the topics youre searching for. We never recommend products based on which one pays us the most. Unlike Colonial Penn which mostly wants to set you up through the mail, we can get your policy started in less than 30 minutes. A list of the top final expense insurance companies in the nation and which popular companies to avoid. Suppose death from natural death occurs during the first two years of the policy. 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). We will search for all those companies to get the best rate. Lets compare Colonial Penn life insurance $9.95 per month plan coverage to the same amount but with Mutual of Omaha. If the death benefit limitation for the first two years is You wont get any pushy sales techniques just a dedicated licensed independent agent who will help you fro start to finish. We will never sell or share your info with anybody. Average Colonial Life & Accident Insurance Company Sales Representative yearly pay in the United States is approximately $63,185, which meets the national average. This clause protects the insurance company from insuring someone on their deathbed. He is an actor and licensed agent and can help you with any questions or concerns you may have about your policy. 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. 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. Like any burial insurance for seniors or whole life insurance plan, once the insured passes away, the designated beneficiary of that plan would receive the coverage amount. In fact some companies have 3 years or more. Colonial Penn TV Commercial: "Call Sooner". He was born on June 3, 1980. If you want to make sure youre getting the best life insurance policy available, heres what you need to do. This site provides insurance information and quotes. (2023, February 16). How much are Colonial Penns life insurance rates? No, he is an employee of Colonial Penn he is just used as the replacement for Alex Trebek. Explore Careers in Atlanta, GA. Telesales Agent Opportunities. The Colonial Penn guaranteed acceptance program is a policy that offers guaranteed acceptance for all applicants. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better. 40% of employees would recommend working at Colonial Penn Life Insurance to a friend and 36% have a positive outlook for the business. If you are wondering who Jonathan Lawson Colonial Penn is you are in the perfect place. Yes he is the new actor for the Colonial Penn commercials promoting their 995 plan guaranteed acceptance life insurance that is marketed as burial insurance. The central theme in this commercial is to let people know that many people procrastinate on a subject like life insurance. Regardless of your medical history, you cannot be denied for this coverage. The premiums become locked in for life and the death benefit will never decrease. In the rare event of a pricing mistake, the carriers rates will always supersede whatever price appears on our website. Colonial Penn 995 Plan Final Expense Insurance funds are paid out as normal as long as premiums are paid, and contain no restriction on how the funds may be used. Now whether it is Alex Trebek or Jonathan Lawson Colonial Penn commercials it doesnt matter. Colonial Penn doesnt even mention how much insurance is provided at the $9.95 price. This guarantee is something all companies provide. The minimum value per unit is $418, and the maximum is $2,083. But how much does $9.95 get you? The best thing you can do when looking at Colonial Penn or any other life insurance for seniors is to read the $9.95 plan reviews. All of the recommendations will be based off of the details you provide. Gnathan by family and friends, transitioned on July 1, 2018 at Mount. The name Jonathan Lawson has a bit of a ring to it. The Colonial Penn $9.95 policy is a guaranteed acceptance life insurance policy with a monthly cost of $9.95 PER UNIT of coverage (often only between $400-$1,000 depending on your age). Use the calculator below to see exactly how much coverage you get per unit based on age and gender. Colonial Penns plan returned a confusing range of rates based on their units of coverage. Join our team to enjoy . So what exactly is the Colonial Penn 995 Plan? Producer: Remnant. Like other final expense life insurance policies, it does not require a medical exam, but is has a graded benefit. Since you can only purchase up to 8 units, your maximum monthly premium will be $79.60 [8 units x $9.95 per month]. For instance, most companies will simply provide consumers a simple choice of $10,000 or $25,000 for their maximum coverage amount. How Does The Johnathan Lawson Colonial Penn Life Insurance Plan Work? Natural causes of death are diseases that include heart attack, stroke, diabetes, or cancer. Its important to note that after the two years limited benefit period, Colonial Penn guaranteed acceptance life insurance policy is active. He also spent time in the marine corps serving his country. Limited benefit first two years is written in fine print on their television commercials; Colonial Penn two year wait is never fully explained. Colonial Penn term life face amounts go up to $50,000. Colonial Penn guaranteed acceptance program The minimum value of a unit of coverage is approximately $400 and the maximum is approximately $2,100, meaning the maximum death benefit you can select is around $16,800. Life insurance for parents is possible. What exactly is a unit anyway? Jonathan Lawson first started working at Colonial Penn in 2014. Do Not Sell No, Colonial Penn does not offer life insurance to non-U.S. citizens. This comes with a catch. Make a Payment - Credit Card Please call 1-800-523-9100 , For NY Residents 1-800-323-4542. The maximum face amount for their whole life policy is $50,000. Jonathan Lawson promotes the $9.95 per unit plan from Colonial Penn. With a life insurance company, you can buy that amount of coverage. Jonathan Lawson's mission. This training is used to help seniors provide peace of mind to their families and themselves. The maximum coverage premium for our example quote above came came to $79.60 a month with a maximum coverage amount of $7,456. 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