Colonial Penn 995 Plan is a guaranteed acceptance whole-life policy with a 2-year waiting period for $9.95 a month. Everyone pays $9.95 for each unit (max of 12 units). The amount of coverage you get for $9.95 is determined by your age and gender. There are no health concerns. They ensure your acceptance.
Because it is Whole Life Insurance, the procedure is simple:
- Rates cannot rise in the long run.
- The insurance cannot be terminated.
- Coverage will never be reduced.
- It increases the monetary worth.
Therefore, it never changes and will always be there if you pay your premiums on time. Colonial Penn Life Insurance is marketed as a low-cost alternative. The commercial may be recognizable due to its sponsor, Jeopardy’s late Alex Trebek life insurance.
Colonial Penn provides three types of life insurance policies:
- Guaranteed acceptance the whole life
- Term life.
- Colonial Penn sells coverage in units; the unit premium never varies, and they sell one to eight teams. A single item costs $9.95.
- Colonial Penn offers a maximum term life benefit of $50,000 for $45.12 per month.

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What is a unit?
A unit of Colonial Penn coverage is equal to the amount of life insurance benefit you receive for $9.95 each month. Your age and gender determine the amount of insurance coverage provided by a single unit. A 75-year-old guy, for example, receives $560 in insurance coverage per unit. You may only purchase a total of twelve items. The chart below clearly shows how much a Colonial Penn life insurance unit gives at each age.
Is Colonial Penn a genuine firm?
Discover if Colonial Penn is a good insurance company at a low cost by purchasing life insurance units. Prices for the Colonial Penn will vary depending on the number of units purchased. This company is genuine.
How much do Colonial Penn 995 Plan policies cost?
The unit premium is constant, and they sell one to eight units. One item cost $9.95. Two units cost $19.90, three units cost $29.85, and so on, and up to eight units cost $79.60.
Colonial Penn Life determines the unit maximum benefit (or face amount, as we call it in insurance language) based on your age and what they deem suitable, while the price per unit remains constant.
So, while one unit costs the same $9.95 for a 77-year-old and a 50-year-old, the benefit amount for the 77-year-old is $503, while the benefit amount for the 50-year-old is $1,786.
Colonial Penn 995 Plan $9.95 per month
This Colonial Penn Life advertisement differs from other life insurance quotations in terms of how affordable the life insurance payments are. However, they don’t tell us how much a $9.95 monthly life insurance payment can get you.
The chart below shows the cost of life insurance for a 50-year-old and a 70-year-old, but coverage is available to individuals above 70. When acquired at 50, the range is highest, with a benefit value of $1,786, decreasing with age.
Colonial Penn life insurance $9.95 per month reviews
Colonial Penn is a renowned life insurance provider that directly offers customers a range of insurance plans, including assured insurance, term life insurance, and whole life insurance. We guarantee acceptance, so you won’t be turned away even if other life insurance policies have rejected you due to your medical history or pre-existing conditions, and no medical exam is required to enroll with Colonial Penn. They offer a limited number of plans, making them a great option for those who have been denied elsewhere.
The Colonial Penn 995 Plan.
Yes, however, this pricing is a little deceptive. Colonial Penn specializes in life insurance policies with local underwriting and lowers death benefits, making them only suitable for people who want extremely little coverage immediately.
The Program of Guaranteed Acceptance
When you pick Colonial Penn’s Guaranteed Acceptance Program, all you need to supply is your age, gender, and location. Colonial Penn will now assign you a “unit” of coverage that you may purchase for $9.95. If you want to buy more units (you may buy up to eight coverage teams), the price per unit will stay set at $9.95.
Guaranteed-issue life insurance policies usually do not provide coverage above $25,000. They also have the provision of a graded benefit, which implies that if you die within two years of purchasing the insurance, the carrier will not pay the full benefits. Depending on the firm, you may also be eligible for 10-15% interest.
The guaranteed policy at Colonial Penn Life is a little different. The firm does not provide benefits up to $25,000, as the others do; instead, it gives the “units of coverage” that we previously described. Thus, when looking for a life insurance policy, we are all aware of the face value or benefit amount. This is permanent life insurance with a cash-saving component that does not necessitate any health inquiries or tests. In most states, the issue ages range from 50 to 85.
Is There a Better Option?
Yes, we urge all of our readers to shop around for other providers’ programs. It doesn’t take long to complete. Purchasing life insurance coverage is a significant financial investment. Take it seriously. If the Colonial Penn 995 life insurance plan does not meet your specific needs, look into other companies, such as Sprout, or fill out the form at the top of this article to see a list of other affordable options that can provide you with the coverage you require, specifically plans that can cover your final expense.
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