How much life insurance coverage do you get for $9.95 per month?

Below you’ll see a Colonial Penn life insurance rate chart.

It outlines precisely how much life insurance you get from a single $9.95 unit based on your age and gender.

 

Colonial Penn Rate Chart Monthly Cost Per # Of Units

Below is a rate chart table that shows the total monthly cost you’d pay based on how many units you buy.

 

# Of UnitsMonthly Cost# Of UnitsMonthly Cost
1$9.959$89.55
2$19.9010$99.50
3$29.8511$109.45
4$39.8012$119.40
5$49.7513$129.35
6$59.7014$139.30
7$69.6515$149.25
8$79.60**15 units is the most you can buy**

 

How Much Coverage Do You Get From Each $9.95 Unit?

Use the calculator below to see exactly how much coverage you get per unit based on age and gender.

Coverage-Per-Unit Cost Calculator
Age
Gender
Number of Units Coverage Amount Monthly Cost
1 $ $9.95
2 $ $19.90
3 $ $29.85
4 $ $39.80
5 $ $49.75
6 $ $59.70
7 $ $69.65
8 $ $79.60
9 $ $89.55
10 $ $99.50
11 $ $109.45
12 $ $119.40
13 $ $129.35
14 $ $139.30
15 $ $149.25

 

The Colonial Penn coverage chart below outlines how much life insurance you get from a single coverage unit.

 

AGE1 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

 

How Does The Colonial Penn $9.95 Plan Work?

The Colonial Penn guaranteed acceptance plan is a whole life policy with no health questions.

Everyone, regardless of their pre-existing conditions, is guaranteed approval.

Tip:
The Colonial Penn $9.95 plan has a mandatory two-year waiting period. If you die in the first two years, Colonial Penn will only refund your premiums plus a small amount of interest.

Since it’s a whole life policy, the monthly rate will never increase, and the coverage will never decrease.

Also, it will last forever and build cash value.

With Colonial Penn, everyone pays just $9.95 per month for a single unit of coverage.

Whether you’re 50 or 70, male or female, the price is just $9.95 monthly.

It’s an odd way to price final expense life insurance.

No other life insurance company uses the unit system.

How much coverage you get for a unit of coverage varies depending on your age and gender.

As shown in the table above, a 65-year-old female gets just $1,258 of life insurance from one unit.

A 75-year-old female gets $762 of coverage from one unit.

Finally, you must be 50-85 to apply, and 15 is the maximum number of units you can buy.

 

$9.95 Plan Product Details
Policy TypeWhole Life Insurance
Policy DurationLifetime
Fixed PremiumsYes
Underwriting ClassGuaranteed Acceptance
Life Insurance
Health QuestionsNo
Medical ExamNo
2-Year Waiting PeriodYes
States AvailableAll States
New Applicant Age Range50-85
Coverage Options1-15 Units
Cost$9.95 Per Unit
(regardless of age or gender)

 

Better Final Expense Insurance Options To Consider

After all, Jonathan Lawson (the actor in their ads) proclaims loud and proud that it costs just $9.95.

But once you investigate a Colonial Penn life insurance rate chart, you quickly see how expensive they truly are.

Here’s the bottom line.

Multiple other burial insurance companies offer coverage that is much less expensive and usually has no waiting period.

Here are three insurance providers that give you much more bang for your buck.

 

Mutual of Omaha

Founding Year: 1909
A.M. Best
A+
Superior
BBB
A+
99-100

 

Mutual of Omaha Living Promise coverage is much less expensive and has no waiting period.

Their burial insurance for senior citizens accepts applicants who have diabetes, past heart attacks or stroke, and many other conditions common among seniors.

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 45-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,000-$40,000
States Available: All States (except New York)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death (2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 10 Minutes to 3 Business Days
Common health conditions still eligible for no waiting period coverage:


Aneurysm
Arthritis
Asthma
Blindness
Blood clots > 2 years ago
Blood thinners
Cancer > 4 years ago
Circulatory surgery > 2 years ago
Crohn’s disease
Depression
Diabetes (type 2)
Diverticulitis
Epilepsy
Fibromyalgia
Grave’s disease
Heart attack > 2 years ago
Heart surgery > 2 years ago
Hepatitis A or B
High blood pressure
High cholesterol
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 2 years ago
Tumors (non-cancerous)

 

Aetna

Founding Year: 1853
A.M. Best
A
Excellent
BBB
A+
98-100
Brochure Sample Policy Sample Application

 

Aetna Senior Products offers a final expense policy that has no waiting period, is cheaper than Colonial Penn and accepts applicants older than 85.

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 40-89
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,000-$50,000
(varies by age)
States Available: All States (except New York)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death
(2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Aetna products
(you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 5 Minutes-3 Business Days
Common conditions still eligible for no waiting period coverage:


Afib
Aneurysm (if surgically repaired)
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 2 years ago
Chronic bronchitis
Circulatory surgery > 2 years ago
COPD
Crohn’s disease
Depression
Diabetes (type 1 or 2)
Diabetic coma > 2 years ago
Diverticulitis
Epilepsy
Fibromyalgia
Graves’ disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
Hepatitis > 2 years ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Lupus
Multiple sclerosis
Obesity
Over 85 life insurance
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Sarcoidosis
Schizophrenia
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors (noncancerous)

 

Transamerica

Founding Year: 1904
A.M. Best
A
Excellent
BBB
B
84-100
Brochure Sample Policy Sample Application

 

Transamerica offers no waiting period funeral insurance to applicants with high-risk medical conditions such as COPD, kidney disease, and lupus to name a few.

Also, Transamerica costs far less than Alex Trebek’s life insurance.

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 45-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $1,000-$50,000 (varies by age)
States Available: All States
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death (2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Transamerica products (you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 15 Minutes- 5 Business Days
Common conditions still eligible for no waiting period coverage:


Afib
Angina (chest pains)
Aneurysm (if surgically repaired)
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 4 years ago
Chronic bronchitis
Circulatory surgery > 1 year ago
COPD
Crohn’s disease
Depression
Diabetes (type 2)
Diverticulitis
Epilepsy
Fibromyalgia
Grave’s disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
Hepatitis
High blood pressure
High cholesterol
Kidney disease (no dialysis)
Lupus
Multiple sclerosis
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Schizophrenia
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors

 

Frequently Asked Questions

If you pass the health questions, $50,000 in whole life insurance is the most coverage Colonial Penn offers. If you opt for the $9.95 guaranteed acceptance policy, 15 units are the most you can buy.

A unit of coverage from Colonial Penn varies based on your age and gender. A 65-year-old male gets $896 in coverage from one unit. A 65-year-old female gets $1,258 in coverage from a unit.

Colonial Penn life insurance for $9.95 per month is a guaranteed acceptance whole life policy. Colonial Penn sells their coverage by the unit. How much coverage you get from each $9.95 unit depends on your gender and age.

A unit of coverage with Colonial Penn costs only $9.95. That’s true for all ages and genders. What varies is how much coverage you get from a unit. For example, a 70-year-old female gets $1,000 in coverage from one unit, and a 70-year-old male gets just $689 in coverage from a unit.