Colonial Penn also has a final expense whole life simplified issue policy. The following review is an analysis of one of the most recognized players in its industry. Colonial Penn Burial Insurance (Guaranteed Acceptance Life) is restricted to those between 50-85 years of age and has a lifetime coverage period. Colonial Penn offers whole life insurance plans with up to $50,000 in death benefits to people between the ages of 40 and 75. Most insurance policy applications are done online in 2016. We are committed to protect your privacy. New York residents call (877) 891-0915. Bills can be scheduled to be recurring quarterly (every 3 months), semi-annually (every 6 months), or annually (once a year). Factors such as age and sex of an individual determine the amount of coverage provided in the policy. There are various competitor products which are offered at a lower price. Their two policies are mostly straightforward to the customer. If you do not want to share your information please click on Do Not Sell My Personal Information for more details. In the past 3 years, have you had or been treated for: Are you currently undergoing evaluation, diagnostic testing or treatment, or been advised to have testing not yet completed. To be eligible for Colonial insurance you will need to be able to answer the following health questions: – Chronic Obstructive lung disease, coronary artery disease, or any disease or disorder of the heart brain or liver?– Cancer, chronic kidney disease or kidney failure, muscular disease, mental or nervous disorder, drug or alcohol abuse, or have you been hospitalized for diabetes– Any chronic illness or condition which requires medication or periodic medical care, or have you been advised to have surgery which has not been performed? These premiums are calculated with regard to your health, your age, your location, and many other factors. We realize this could be a difficult time and we would like to work with affected policy owners to help answer any questions or concerns they may have about their insurance coverage. In many cases, coverage of at least $50,000 is required to cover expenses left behind, such as a mortgage. If you are looking for answers about Colonial Penn burial insurance, final expense insurance or life insurance, welcome to our blog and we can proudly say you have found the right place too look. There are, however, two major downfalls to their policies. Burial Insurance is always an emotional issue for anyone and their family. The likes of Colonial Penn offer burial insurance worth looking into, and Colonial Penn Reviews will ease your decision-making […] Term life plans have no worth besides the assured death benefit. The second gentleman died six months after he took his life insurance plan out with me. The benefits will not decrease over time and coverage is effective from day one. Colonial Penn was started by one of the cofounders of AARP to bring coverage to a previously unthought-of group: those over 65. Burial expense payouts may be used for any purpose, though, whether it be a purchase, a bill, a debt, or a loan. So no matter your pre-existing conditions, health record, age, or anything else, you can apply and be approved for it. Review rates and compare plans from the best final expense insurance companies. For a complete description, please call to determine eligibility and to request a copy of the applicable policy. However, drawbacks include a waiting period and high price point which is largely more expensive than many competitors (specifically, Gerber Life and Mutual of Omaha offer a comparable product at a considerably lower price). Once you have signed the insurance contract, however, your insurance company will not change the premium. Monthly billing must be done either by bank draft or credit card budget and your personal needs for to... 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