General InquiriesBankers Life. (800) 231-9150.Bankers Conseco Life Insurance Company. (800) 845-5512.Colonial Penn Life Insurance Company. (877) 229-2207.Washington National Insurance Company. (800) 888-4918.
- 1 What is the $9.95 plan from Colonial Penn?
- 2 How do I check the status of my Colonial Penn claim?
- 3 Is Colonial Penn part of Mutual of Omaha?
- 4 Can I cash out my colonial life insurance policy?
- 5 How much does Colonial Penn payout?
- 6 How much is a unit of life insurance?
- 7 What’s the best life insurance for seniors?
- 8 How much should I expect to pay for life insurance?
- 9 What is a 2 year limited benefit period?
What is the $9.95 plan from Colonial Penn?
The Colonial Penn life insurance plan for $9.95 per month is a guaranteed acceptance whole life policy with a waiting period of two years. It offers permanent lifelong coverage with a premium that will never increase and builds cash value. There are no health questions or exams to determine your eligibility.
How do I check the status of my Colonial Penn claim?
Please contact us Monday through Friday at (800) 523-9100 between 8:30 a.m. and 5:30 p.m. EST.
Is Colonial Penn part of Mutual of Omaha?
Colonial Penn Life Insurance’s brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Colonial Penn Life Insurance. Mutual of Omaha’s brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Mutual of Omaha….Colonial Penn Life Insurance vs Mutual of Omaha.46%Promoters47%Detractors1 more row
Can I cash out my colonial life insurance policy?
Policy withdrawals/partial surrenders are available on universal life policies only. If your policy is not a universal life policy and you request a withdrawal, we will process the request as a policy loan.
How much does Colonial Penn payout?
Colonial Penn guaranteed acceptance program The minimum value of a unit of coverage is approximately $400 and the maximum is approximately $2,100, meaning the maximum death benefit you can select is around $16,800. For example, say one unit of coverage provides a $1,621 death benefit for a 60-year-old woman.
How much is a unit of life insurance?
Insurance companies base units on risk factors such as age, gender and various requirements of different states. How much one unit of coverage costs may differ from one provider to another. While most insurers typically deal in units of $1,000, it’s common to see units worth $5,000 or $10,000.
What’s the best life insurance for seniors?
Compare the Best Life Insurance for Seniors in 2022Overall RatingBest ForNew York Life4.8Best OverallGuardian4.7Best for Financial StabilityNationwide4.7Best for Living BenefitsPacific Life Insurance4.6Best for Fewest Complaints1 more row
How much should I expect to pay for life insurance?
According to eFinancial, the cost of a 10-year, $250,000 life insurance policy is typically between $15 and $17 per month for a healthy 40-year-old. While a few uncontrollable factors like your age and gender can increase or decrease your rate, the average cost of life insurance can generally be affordable.
What is a 2 year limited benefit period?
This whole life policy does not require a medical examination, but there is a two-year limited benefit period if applicants want guaranteed coverage. This waiting period means that your policy will not pay out a full death benefit to beneficiaries within the first two years of owning the plan.