Published. We never recommend products based on which one pays us the most. 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. Premiums are higher compared to some other companies. Your transaction will be processed in one to three business days. If you are interested in purchasing life insurance from . Customers and their beneficiaries should be aware of the Colonial Penn limited death benefit for the first two years. 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. How much coverage you get from each $9.95 unit depends on your gender and age. Get Jonathan Lawson's email address (j*****@cnoinc.com) and phone number (215225..) at RocketReach. For a limited time Colonial Penn offers free gifts to customers. Jonathan Lawson was born June 3rd 1980 in Dunedin, Florida. We specialize in 1st-day coverage insurance providers for our clients. You cannot be rejected because of your health; your approval is guaranteed. This means that it will stay in effect until you die, as long as premiums are paid on time. Yes, the Colonial Penn 9.95 life insurance plan is a whole life policy. For this reason, some people feel like Colonial Penn has scammed them. How does a professional indemnity claim work? Jonathan Lawson Colonial Penn Life Insurance not Worth it. So it may only be $9.95 a month but the amount of coverage that provides is a different story. The Colonial Penn 9.95 plan is a whole life policy. To be fully covered, you will need to live for two years beyond the initial premium. Is Colonial Life a scam/pyramid scheme/MLM? Yes, Jonathan Lawson worked at Colonial Penn, at one point. Can I cancel my Colonial Penn policy at any time? 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. Why Not Guaranteed Acceptance Life Insurance? No portion of lifeinsuranceblog.com may be copied, published or distributed in any manner for any purpose without prior written authorization of the owner. 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. Keep reading or use our easy table of contents below and jump right to the topics youre searching for. 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. Colonial Penn Final Expense Insuranceexists like a whole life insurance policy, although tailored specifically for funeral expenses. They are the most expensive policy available when you compare the monthly premium to the amount of coverage you receive. Where is Jonathan from Colonial Penn from? Coverage lasts a lifetime as long as you keep paying your monthly premiums on time. Permanent life insurance is a type of life insurance policy that doesn't expire as long as you continue to pay the premiums. If you stop paying premiums, the policy will lapse, and you will no longer be covered. . May 18, 2020. Do Not Sell This is the complete opposite way of how almost every life insurance company determines their rate. It isnt a scam. 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. A unit of the Colonial Penn 995 coverage corresponds to the life insurance benefit amount you receive for $9.95 per month. Unfortunately, their prices, products and options can often be beat by the competition. You must consider how much coverage you get per unit, which is determined by your gender and exact age. 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. Colonial Penn doesnt provide a maximum death benefit like other companies. Colonial Penn Life Insurance is just $9.95, thats a no-brainer! Colonial Penn has a 2 year waiting period on their policy. 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 easiest way to determine if the $9.95 plan is worth it is to compare to its competition. The waiting period for a payout with Colonial Penn is two years on all new policies. ChoiceMutual.com. You must pay your premiums for two years before the death benefit is paid to the beneficiary. While we have done our best to ensure all rates shown are accurate, human error is possible. With Colonial Penn, $9.95 a month would actually cost you about $138 per month. Last modified Feb 16, 2023. https://choicemutual.com/blog/colonial-penn-life-insurance-rate-chart/. Below is a complete Colonial Penn 995 plan review so you can determine if the Colonial Penn 9.95 is legit or a sham. Colonial Penn Life Insurance Rate Charts By Age & Gender ChoiceMutual.com, 16 Feb 2023, https://choicemutual.com/blog/colonial-penn-life-insurance-rate-chart/, Martin, Anthony. If you are wondering who Jonathan Lawson Colonial Penn is you are in the perfect place. For example, say one unit of coverage provides a $1,621 death benefit for a 60-year-old woman. Many people can qualify for a policy that asks health questions with some company. Facebook gives people the power to share and makes the world more open and connected. You won't be denied for pre-existing conditions and everyone pays $9.95 per unit of coverage. Life insurance companies are really scuzzy, but . . Colonial Penn guaranteed acceptance life insurance is a whole life insurance policy with no health questions asked and no medical exam required. Colonial Penn offers flexible payment options. The Colonial Penn 9.95 plan has several advertised benefits (which are not great benefits if you want a 1st-day coverage plan with the lowest pricing): Compare Quotes From Top Life Insurance Companies, Mailing AddressPO Box 270179Flower Mound, TX 75027 Everyone, regardless of their pre-existing conditions, is guaranteed approval. In this commercial, the latest Colonial Penn actor, Jonathan Lawson, makes the pitch. Its important to note that after the two years limited benefit period, Colonial Penn guaranteed acceptance life insurance policy is active. How much is Jonathan Lawson from Colonial Penn worth. We help seniors every day find burial insurance with no waiting period, as well as children of seniors, find burial insurance for parents. Is equipment floater the same as inland marine? The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, . To keep their premiums fixed, Colonial Penn has to drop the coverage amount as we age. Is there any way to speed up the waiting period with Colonial Penn? 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. It is in fact guaranteed for you to be approved, regardless of any pre-existing conditions. What he is promoting is a guaranteed issue life insurance policy that charges $9.95 per unit of insurance. Jonathan Lawson served in the Marine Corps and earned his college degree while working full time at Colonial Penn. We will never sell or share your info with anybody. Has a guaranteed approval product. Remember that Colonial Penns rates are determined by units. Jonathan Lawson is a Colonial Penn Sales Manager. Make sure you read the $9.95 plan reviews to determine if it's the right choice for you. It has a two-year waiting period on all new policies and maximum coverage of $16,664. He has personally helped over 3000 clients with their life insurance needs. 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. You can request a quote on their website to see the death benefit amount you can buy up to 8 units of coverage. It's a guaranteed acceptance whole life insurance policy that does not require you to answer health questions. This site provides insurance information and quotes. In the rare event of a pricing mistake, the carriers rates will always supersede whatever price appears on our website. We will shop your case with different insurance carriers and get you the best price. Choice Mutual does not earn money via selling sales leads or data to third parties, referring users to other websites, displaying ads on our website, or other means. Who is Jonathan Lawson from Colonial Penn? Here is our review of the Top Final Expense Companies in the market. 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 suggest products based on the needs and desires of the applicant. Guaranteed acceptance from Colonial Penn is a form of whole life insurance with a cash value component. For a detailed quote, please contact an agent. Terms Of Use 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. However, youre probably paying more for less coverage. No part of this website may be copied, published, faxed, mailed, or distributed in any manner without prior written consent from the website owner. A limited benefit period or graded death benefit is a clause written in all guaranteed acceptance life insurance policies, including Colonial Penn. Our licensed professionals are available through the phone now, so you can get the coverage you need, without the wait. Jonathan Lawson was born June 3rd 1980 in Dunedin, Florida. If she bought two units, the monthly cost would be $19.90, and she would have $1,524 of coverage. For example, for a 50-year-old woman, 8 units of coverage would provide a $16,664 death benefit. The Colonial Penn guaranteed acceptance plan is a whole life policy with no health questions. We do earn a commission from the sale of insurance products seen on this website. Is the Colonial Penn 9.95 plan a permanent policy? This isnt unique to Colonial Penn. 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. If you opt for the $9.95 guaranteed acceptance policy, 15 units are the most you can buy. Also, Transamerica costs far less than Alex Trebeks life insurance. Use the calculator below to see exactly how much coverage you get per unit based on age and gender. The accident must occur while coverage Licensed Agent | CEO @ Funeral Funds of America, Verified | View Our Editorial Guidelines. Jonathan Lawson promotes the $9.95 per unit plan from Colonial Penn. No other life insurance company uses the unit system. Colonial Penns high prices may have something to do with their marketing as their advertisements are frequently on TV. You dont have to be in perfect health to qualify. The unit refers to the total death benefit available based on how old you are and your gender. 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