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Despite his charming demeanor, the fact remains that Jonathan Lawson’s comments about how good Colonial Penn’s life insurance is are simply untrue and not backed by evidence.
For example, the Colonial Penn 995 plan is arguably one of the most expensive options on the market despite its seemingly low price.
As the saying goes, the devil is in the details. $9.95 only buys a senior $418-$2,000 in coverage, depending on your age and gender. In addition, every Colonial Penn policy has a two-year waiting period.
Learn the truth about who Jonathan Lawson is, what he promotes for Colonial Penn, and how you can find much better final expense life insurance options from other insurance companies.
Jonathan Lawson is a Colonial Penn employee who appears in TV commercials promoting the guaranteed acceptance $9.95 plan for seniors. He is not just a paid endorser like Alex Trebek was.
His LinkedIn profile shows his official title is “Director of Quality Assurance & Escalations.” After graduating high school at 18, he went to Peirce College, earning a Bachelor of Business Administration (B.B.A.), and now works for Colonial Penn. He also served in the Marine Corps for 14 years as Master Instructor.
The $9.95 plan Jonathan Lawson promotes is a guaranteed acceptance whole life insurance policy that does not require you to answer health questions.
Regardless of your medical history, you cannot be denied this coverage.
Since it’s a whole life final expense policy, the premiums will never increase, and the policy won’t expire due to age.
Additionally, the coverage won’t decrease in value, and it will build cash value.
The $9.95 plan sounds very affordable on the surface. But is it?
Most people fail to consider how much coverage you get for $9.95 monthly.
|$9.95 Plan Product Details|
|Policy Type||Whole Life Insurance|
|Underwriting Class||Guaranteed Acceptance Life Insurance|
|2-Year Waiting Period||Yes|
|States Available||All States|
|New Applicant Age Range||50-85
(50-75 in New York)
|Coverage Options||1-15 Units|
|Cost||$9.95 Per Unit
(regardless of age or gender)
Colonial Penn sells their senior funeral insurance by the unit. A unit corresponds to how much life insurance a person gets based on age and gender.
No matter your gender or age, everyone still only pays $9.95 per month. What you must consider is how much coverage each unit provides.
Once you look at a Colonial Penn rate chart, you quickly realize that Colonial Penn’s guaranteed acceptance plan is costly relative to what other life insurance companies charge.
For example, a 53-year-old male only gets $1,515 in coverage for that $9.95 monthly and has a two-year waiting period.
The older you are, the less coverage that a single unit provides.
Below is a chart and calculator that outlines exactly how much coverage each unit provides.
|Number of Units||Coverage Amount||Monthly Cost|
|AGE||1 Male Unit ($9.95)||1 Female Unit ($9.95)|
|50||$1,669 in coverage||$2,000 in coverage|
|51||$1,620 in coverage||$1,942 in coverage|
|52||$1,565 in coverage||$1,890 in coverage|
|53||$1,515 in coverage||$1,845 in coverage|
|54||$1,460 in coverage||$1,802 in coverage|
|55||$1,420 in coverage||$1,761 in coverage|
|56||$1,370 in coverage||$1,719 in coverage|
|57||$1,313 in coverage||$1,669 in coverage|
|58||$1,258 in coverage||$1,620 in coverage|
|59||$1,200 in coverage||$1,565 in coverage|
|60||$1,167 in coverage||$1,515 in coverage|
|61||$1,112 in coverage||$1,460 in coverage|
|62||$1,057 in coverage||$1,420 in coverage|
|63||$1,000 in coverage||$1,370 in coverage|
|64||$949 in coverage||$1,313 in coverage|
|65||$896 in coverage||$1,258 in coverage|
|66||$846 in coverage||$1,200 in coverage|
|67||$802 in coverage||$1,167 in coverage|
|68||$762 in coverage||$1,112 in coverage|
|69||$724 in coverage||$1,057 in coverage|
|70||$689 in coverage||$1,000 in coverage|
|71||$657 in coverage||$949 in coverage|
|72||$627 in coverage||$896 in coverage|
|73||$608 in coverage||$846 in coverage|
|74||$578 in coverage||$802 in coverage|
|75||$549 in coverage||$762 in coverage|
|76||$521 in coverage||$724 in coverage|
|77||$493 in coverage||$689 in coverage|
|78||$468 in coverage||$657 in coverage|
|79||$441 in coverage||$627 in coverage|
|80||$426 in coverage||$608 in coverage|
|81||$424 in coverage||$578 in coverage|
|82||$423 in coverage||$549 in coverage|
|83||$421 in coverage||$521 in coverage|
|84||$420 in coverage||$493 in coverage|
|85||$418 in coverage||$468 in coverage|
Despite Jonathan’s claims on TV about how good Colonial Penn life insurance is, the $9.95 plan is far more expensive than other insurance providers.
The life insurance data shows other options yield much more coverage for the dollar spent.
Furthermore, unlike with Jonathan Lawson of Colonial Penn, most people can secure life insurance with no waiting period elsewhere.
That statement is true even if you want final expense insurance with pre-existing conditions.
For example, a 65-year-old male would get $896 of life insurance from one 995 unit. To get roughly $10,000 in whole life coverage, he would need to buy 12 units which would cost $119.40 monthly ($9.95 x 12).
That same 65-year-old man would pay only $56.48 monthly with Mutual of Omaha for a $10,000 policy. Oh, and the Living Promise policy from Mutual of Omaha doesn’t have a waiting period.
And it’s not just Mutual of Omaha that’s better than Colonial Penn. Virtually every other life insurance company offers lower final expense insurance rates. Use our insurance quotes tool to compare Colonial Penn’s coverage to other insurance products in your state.
Then you will see how much more coverage you can get from different insurance companies.
Ultimately, when you analyze all the pros and cons of Colonial Penn life insurance, they are not a good buy.
Instead, give your money to a company that will provide you and your family with much coverage for the dollars spent.
When trying to buy life insurance, you have two choices:
- Buy directly from an insurance company (Example: Globe Life).
- Buy through a licensed agency that represents one or more insurers.
First, when you try to buy directly from a carrier, you limit yourself to only what they offer. State Farm is one such example.
If you ever buy from a State Farm agent, they cannot and will not suggest coverage from another provider.
You’re out of luck if you aren’t pleased with their offering.
However, if you work with an agency, the opposite is true.
To find the best final expense life insurance policy, the best thing to do is to work with an independent agency that can compare multiple providers on your behalf.
Independent agencies (aka “brokers”) partner with multiple life insurance companies, so they have the freedom to shop around for their clients.
Independent licensed agents can assess your situation and determine which life insurance companies will offer you the best burial policy.
It’s like having a personal shopper whose sole goal is to find you the lowest-cost burial insurance policy.
Whether you want life insurance for mom or dad or yourself, find a reputable agency and let them help you.
That’s especially true if you seek life insurance after age 80. Most products offered directly by insurers rarely accept applicants older than 80.
If you want final expense insurance, call Choice Mutual at 1-800-644-2926. We are an independent insurance agency that represents nearly 20 insurance providers. We’ll find you the best policy, given your situation. We have thousands of 5-star reviews online, like the ones below, because we put our customers first.
Yes, Jonathan Lawson does work for Colonial Penn. H is an employe of CNO Financial Group, the parent company that owns Colonial Penn. His official title is “Director of Quality Assurance & Escalations.” He’s also tasked with appearing in their TV commercials and online advertisements.
Jonathan Lawson is a Colonial Penn employee who is paid to act in the Colonial Penn commercials. His predecessor, Alex Trebek, was not a Colonial Penn employee. Instead, Alex was just an actor paid to endorse the company.
Jonathan Lawson’s salary is unknown. He works for Colonial Penn as the Director of Quality Assurance & Escalations. In addition, they compensate him for appearing in their commercials. However, precisely how much he gets paid is unknown.
As of 08/09/2023, Jonathan Lawson is 43. He was born on June 3, 1980 In Dunedin, Florida.
Jonathan Lawson’s net worth is unknown. Although some websites refer to his net worth, their claims are unfounded and not backed by legitimate sources.