This is based on data provided by Quotacy for a 40-year-old buying a 20-year, $500,000 term life policy, which is the most common term length and amount sold. For example, say one unit of coverage provides a $1,621 death benefit for a 60-year-old woman. Licenses. Make a Payment - Credit Card Please call 1-800-523-9100 , For NY Residents 1-800-323-4542. Fill our the form and well contact you shortly. Dennis Haysbert. There are no health questions or exams to determine your eligibility (approval is guaranteed). If you are healthy, dont be fooled by the price that is being offered. If you pass the health questions, $50,000 in whole life insurance is the most coverage Colonial Penn offers. 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. die, other life insurance companies can provide the protection you need. Colonial Penn term life face amounts go up to $50,000. 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. Not all products are available in all states. Penn would pay the full death benefit. Jonathan Lawson Colonial Penn Life Insurance not Worth it. Since this plan is a guaranteed issue life insurance, there is a two-year waiting period. Well, your monthly premium is obvious but how much coverage does Colonial Penn life insurance $9.95 per month get you? To be fully covered, you will need to live for two years beyond the initial premium. The Colonial Penn 9.95 plan is a whole life policy. After all, Jonathan Lawson (the actor in their ads) proclaims loud and proud that it costs just $9.95. Information appearing on this site is for educational purposes. Every burial insurance company offering guaranteed acceptance life insurance has this limited or graded benefit period for people with serious pre-existing conditions. Is there any way to speed up the waiting period with Colonial Penn? What is the waiting period for a payout with Colonial Penn? If you were to match Colonial Penn 995 Plan rates to the top insurance carriers, you will be shocked at the difference in money. He continues to work with Colonial Penn and represents them in many commercials and TV advertisements. Click our free quote button on the right to get a free quote. Make sure you read the $9.95 plan reviews to determine if it's the right choice for you. That unit is $717 of coverage. How Does The Johnathan Lawson Colonial Penn Life Insurance Plan Work? " Or maybe you saw " Guaranteed Acceptance with NO health questions. A 65-year-old female gets $1,258 in coverage from a unit. What varies is how much coverage you get from a unit. . According to ZoomInfo records, Jonathan Lawson's professional experience began in 1997. You won't be denied for pre-existing conditions and everyone pays $9.95 per unit of coverage. He was born on June 3, 1980. Yes, Jonathan Lawson is a real person. Well help you find the best company you can qualify for. Yes, Colonial Penn is still in business. Colonial Penn and Colonial life are not the same company. So, if you are looking for insurance, burial, or final expense life insurance, we can help. This can sound like a lot of positives but heres the thing, a $9.95 per unit is much more expensive than other life insurance plans with better companies. 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. Did you see the little * that was included in our comparison above? The Colonial Penn 995 plan is a Guaranteed Acceptance Plan with a two year waiting period. 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. Colonial Penn Two Year Wait Guaranteed Acceptance Life Insurance, Features Of Colonial Penns Guaranteed Acceptance Life Insurance, Colonial Penn Guaranteed Acceptance Life Insurance Pricing. Conforming to monthly income, Jonathan Lawson Net Worth is calculated as $15 million Approx. It will stay in effect until you die, as long as premiums are paid on time. Colonial Penns plan returned a confusing range of rates based on their units of coverage. 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. Colonial Penn Final Expense Insuranceexists like a whole life insurance policy, although tailored specifically for funeral expenses. More than likely this is the policy youve seen advertised on TV. NOTE: you wont find a limited or graded benefit in other life insurance products such as term or whole life plans. Like other final expense life insurance policies, it does not require a medical exam, but is has a graded benefit. shocking murder of a homeless man caught on tape in st. louis. Since its a whole life policy, the monthly rate will never increase, and the coverage will never decrease. You should never purchase a guaranteed issue policy unless youre uninsurable. Most folks should not be buying guaranteed acceptance coverage from Colonial Penn. Guaranteed acceptance from Colonial Penn is a form of whole life insurance with a cash value component. Since the passing of Alex Trebek, Jonathan Lawson has become the new front man for the Colonial Penn commercials. This is always a good idea because you dont have to spend the payout on a funeral if this is unnecessary, making this a very versatile policy. You must consider how much coverage you get per unit, which is determined by your gender and exact age. Philadelphia, Pennsylvania, U.S. Finally, you must be 50-85 to apply, and 15 is the maximum number of units you can buy. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more. After all, Jonathan Lawson (the actor in their ads) proclaims loud and proud that it costs just $9.95. Colonial Penn TV Commercial: "Call Sooner". A limited benefit period or graded death benefit is a clause written in all guaranteed acceptance life insurance policies, including Colonial Penn. That way we can understand your situation before we can help you. How much life insurance can I get from Colonial Penn? For a detailed quote, please contact an agent. If you are wondering who Jonathan Lawson Colonial Penn is you are in the perfect place. We will search for all those companies to get the best rate. Home Companies Colonial Penn Life Insurance Company Reviews. He also worked for 3 years as an artist manager for musicians and studied . It bums me out seeing Colonial Penn commercials now, since Alex Trebek was a pitchman for them for a long time, and is no longer, obviously. His age is 42 years old in the current year 2022. Colonial Penn Life Insurance is just $9.95, thats a no-brainer! Most seniors dont know there are other plans available that they will qualify for day-1 coverage, and with lower pricing from other companies. Since you can only purchase up to 8 units, your maximum monthly premium will be $79.60 [8 units x $9.95 per month]. University of Phoenix TV Commercial Featuring Larry Fitzgerald. it can range from $1,786 to just $418 of coverage per unit. Your policy does not cost more because we helped you, and our advisory services cost you nothing. Any loan amount and interest not repaid at the time of death is deducted from the death benefit. Below is a complete Colonial Penn 995 plan review so you can determine if the Colonial Penn 9.95 is legit or a sham. He goes on to explain that your Colonial Penn monthly premium will never change with their whole life policy. At Final Expense Benefits, we work with the top insurance carriers and can usually find you a plan with a cheaper monthly rate that pays a larger death benefit. David Duford is a nationally licensed insurance expert with over ten years of experience. 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. Does Jonathan Lawson Actually Work At Colonial Penn? 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. This gives you real customer insight and experience. This site provides insurance information and quotes. Also, Transamerica costs far less than Alex Trebeks life insurance. Lets say you are a 70-year-old male and in pretty good health. Common health conditions still eligible for no waiting period coverage: Common conditions still eligible for no waiting period coverage: Consumer feedback from third-party websites like Facebook, Yelp, and Trustpilot, Up-to-date complaint score from the National Association of Insurance Commissioners, Accuracy and trustworthiness of marketing, Number of policy types, including no-exam options. You just have to read the fine print. A unit of Colonial Penn life insurance is $9.95. A unit of coverage with Colonial Penn costs only $9.95. Regardless of your health condition, your death benefit wont decrease as you grow older. Can I switch from a Medicare Advantage plan back to Original Medicare. how much is jonathan lawson from colonial penn worth. You can pay your Colonial Penn premiums in several ways, including by check, credit card, or automatic withdrawal. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. menu menu. It's designed to last for your entire life, so you have a guaranteed way to leave behind financial support for those you choose. Privacy Policy. You might be asking yourself, What is the Colonial Penn life insurance $9.95 per month plan coverage amount? or Is the $9.95 Colonial Penn Life Insurance worth it? Today we are going to share everything you need to know so you can make the right decision. Therefore, every applicant will get a different coverage amount for the same exact premium. Colonial Penn offers shoppers a renewable term policy. In conclusion, Jonathan Lawson from Colonial Penn is a trusted face of the company and has been helping seniors over 50 years old find life insurance options for many years. The rates displayed are based on information provided by the insurance companies. Under no circumstances will Choice Mutual share or sell your information with a third party without your consent. Our mission is to provide credible content written and fact-checked by verifiable experts to educate consumers like yourself. What is the value of a unit of Colonial Penn insurance? A guaranteed acceptance life insurance from Colonial Penn can be purchased between the ages of 50 and 85, and the death benefit is limited for the first 24 months of coverage. Each unit offers a set amount of . We have provided a reference chart below to show you how expensive this coverage really is. Yes, you can cancel your Colonial Penn policy at any time. Truth About Colonial Penn 995 Plan Life Insurance In 2023. Jonathan Lawson is an actual employee of Colonial Penn parent company CNO Financial Group. Yes, Jonathan Lawson works for Colonial Penn. Colonial Life is not a scam, insurance MLM, or pyramid scheme. 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. You must be between the ages of 18 and 75 with the option to renew up to age 90. In our example above, the maximum amount of coverage that a man age 65 can purchase without any health questions was $7,456. You can look at Colonial Penn life insurance reviews on BBB (Better Business Bureau) and many other sites. We specialize in 1st-day coverage insurance providers for our clients. In the chart below so you can see how Gerber Life and AIG is straightforward with their maximum coverage. Has a guaranteed approval product. Does Jonathan Lawson really work for Colonial Penn? Life Insurance Blog is committed to getting you the life insurance coverage you need and make you feel great about it! How much is a unit of Colonial Penn life insurance? LIB has helped thousands of shoppers understand life insurance and secure affordable coverage. Well, Jonathan Lawson wont tell you in the commercial, but we will! Does this commercial look familiar? Generally, the payout is the policys face value. To see pricing on policies and speak with one of our agents fill out the form to your right. Lets look at how seniors can save by shopping around. If you have any medical condition that disqualifies you from getting a level death benefit with no waiting period, then GI policy is an excellent choice. 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). ChoiceMutual.com. May 18, 2020. Our licensed professionals are available through the phone now, so you can get the coverage you need, without the wait. The maximum coverage premium for our example quote above came came to $79.60 a month with a maximum coverage amount of $7,456. Still, thinking about purchasing the 995 plan? Funeral Funds is an independently operated life insurance agency licensed to operate in all 50 states. Join Facebook to connect with Jonathan Lawson and others you may know. We always suggest whats best for each customer rather than what makes us the most money. Jonathan also works for CNO Financial Group as a Director of Quality . If youve seen Colonial Penns commercials then you may have gotten excited when Alex Trebek mentioned their Rate Lock. You flip to a channel and find yourself watching a Colonial Penn 995 plan commercial with paid spokesman Jonathan Lawson. Whole life insurance lasts your entire lifetime and also comes with a cash value component that grows over time. and our What is the maximum coverage I can get with Colonial Penn 9.95? Do Colonial Penn whole life policies increase in value? Director Of Quality . North American senior Benifits??? Colonial Penn two year wait is designed to make money. As the ad finishes up, you notice that for just $9.95 per month (less than 35 cents/day! Colonial Penns high prices may have something to do with their marketing as their advertisements are frequently on TV. This is true of all other companies we work with at Funeral Funds. This means the company will not pay the full death benefit if you die from natural causes or an illness within the first two years of your policy. Colonial Penn guaranteed acceptance life insurance is a whole life insurance policy with no health questions asked and no medical exam required. You can also read our other reviews on Globe Life, AARP, Lumico, and Mass Mutual by clicking the link. But what you might not know is, how much this plan provides your family. Its important to note that after the two years limited benefit period, Colonial Penn guaranteed acceptance life insurance policy is active. Aetna Senior Products offers a final expense policy that has no waiting period, is cheaper than Colonial Penn and accepts applicants older than 85. Everyone wants to buy from a top 10 life insurance company. The premiums become locked in for life and the death benefit will never decrease. Jonathan Lawson's Career with Colonial Penn. What he is promoting is a guaranteed issue life insurance policy that charges $9.95 per unit of insurance. Join our team to enjoy . Explore Careers in Tampa, FL. We suggest products based on the needs and desires of the applicant. First of all Colonial Penn is a gimmick not worth buying for any senior period. If you shopping for a Colonial Penn plan or already have one of their policies, wed recommend shopping around especially if youre healthy. The accumulated cash value from your policy can be borrowed at an 8% annual interest rate. The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, . No medical exam is required. Reddit and its partners use cookies and similar technologies to provide you with a better experience. At Final Expense Benefits, We have direct contracts with carries you know and trust. All guaranteed issue policies have a graded benefit. Not a lot, right?? For a 68 year-old-male, 1 unit at $9.95 a month qualifies you for a total of $792 in life insurance coverage. The rate for Colonial Penns life insurance policies is $9.95 per unit; the maximum unit you can buy is eight. Colonial Penn will not pay a death benefit if you die from a natural cause during the first two years. Your transaction will be processed in one to three business days. For example, for a 50-year-old woman, 8 units of coverage would provide a $16,664 death benefit. Additionally, now that you know that Colonial Penn guaranteed acceptance policy has a limited death benefit period, you can now ask more specific questions about it as you shop for plans so that when you finally make your decision, it will surely fit your needs. The best-guaranteed issue final expense plan has only a two-year waiting period that costs the least. They only offer two-year waiting periods on all of their policies, which is one of the longest wait times in the industry. Additional Questions & Answers On Colonial Penn Two Year Wait, Gerber Guaranteed Issue Life Insurance Review, Royal Neighbors of America Burial Insurance Review, Guaranteed acceptance for all applicants = very expensive, No health questions asked = very expensive, A low monthly cost of $9.95 = is very expensive once you add multiple units of coverage. For this reason, some people feel like Colonial Penn has scammed them. He was born on February 10, 1961 in Apex, North Carolina to Raymond (who predeceased him in death) and Frances . The actor, Jonathan Lawson telling you about The three Ps of life insurance. Telesales agents are awarded a full benefits package, in a flexible, work-from-home environment. Use the calculator below to see exactly how much coverage you get per unit based on age and gender. The waiting period for a payout with Colonial Penn is two years on all new policies. The deal with Colonial Penn is that they offer a two-year wait on their guaranteed acceptance policy, which is one of the longest wait times in the industry. Can someone be denied homeowners insurance? We will shop your case with different insurance carriers and get you the best price. No portion of lifeinsuranceblog.com may be copied, published or distributed in any manner for any purpose without prior written authorization of the owner. While working at Colonial Penn, he earned his degree. We can assist seniors with burial insurance for age 60,70, and 80. 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. GI policy has a two-year waiting period, but if you pass away during that time, the insurer will return all your premiums plus 10% interest (this is way higher than the 7% that Colonial Penn is offering). Cassandra Lawson, Jonathan Lawson, Jordan Lawson, and Tyler Oban of The Railers pose backstage during the CMA Awards Week Street Party on November 3,. What is the minimum age to apply for Colonial Penn? >> ashley: thank you. Trying to find a policy without a 2- year wait neednt be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker. This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. This guarantee is something all companies provide. Remember, you can purchase a max of 12 units. Paying celebrities like Ed McMahon and Alex Trebek to be your spokesman isnt cheap. This training is used to help seniors provide peace of mind to their families and themselves. Whole life fixed premium, Small coverage amounts. Or exams to determine if it 's the right decision know there are no health questions exams... Of a homeless man caught on tape in st. louis which is determined by your and. Can I switch from a natural cause during the first two years the. To $ 50,000 in whole life insurance company offering guaranteed acceptance life insurance, burial, or automatic.... Only $ 9.95 it does not require a medical exam, but we will search all! Way we can help you find the best company you can look at how can! Not cost more because we helped you, and Mass Mutual by clicking the link current year 2022 highly... Policy does not cost more because we helped you, and our advisory cost! 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Today we are going to share everything you need 10 life insurance policy that charges 9.95... Monthly rate will never increase, and Mass Mutual by clicking the link guaranteed... Is for educational purposes lifetime and also comes with a Better experience Penn worth if youre healthy proclaims and... All other companies finishes up, you can cancel your Colonial Penn life companies. Understand your situation before we can assist seniors with burial insurance for age 60,70, and our what the... In st. louis insurance expert with over ten years of experience exams to determine if it 's the right for! Must be between the ages of 18 and 75 with the option to renew up age. Can range from $ 1,786 to just $ 9.95 pyramid scheme decrease as you grow older of... For all those companies to get a different coverage amount of coverage provides a 16,664! Telesales agents are awarded a full Benefits package, in a flexible, work-from-home environment scam! 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