At Bluewave Insurance, we pride ourselves on providing our customers with Colonial Penn Final Expense or Burial Insurance. To learn more, contact us at 800-208-4974.
Colonial Penn Life Insurance Company Background and History
Colonial Penn Life Insurance Company was founded in 1968 over 50 years ago by Leonard Davis. It is currently headquartered in Philadelphia, Pennsylvania, and provides financial services and life insurance plans to folks around the U.S. You probably recognize them from their famous spokesperson Alex Trebek, but they originally started by providing insurance to seniors 65 and older, on TV. They have since grown their services to include people from 18-85 years old.
Also, they pride themselves in providing insurance coverage at affordable prices and designing their products to meet the needs of the mature market. They also provide Colonial Penn Medicare Supplement products to aid folks with Medicare. They are committed to providing high quality and affordable insurance to their customers.
Colonial Penn Burial Insurance Financial Value and Ratings
Colonial Penn is a financially strong company, they are a subsidiary of CNO Financial Group so they have access to billions of dollars in capital. In addition, just the company alone makes a revenue of over 233$ million. They also have a growing employee base with over 250 employees across the U.S.
Due to their continuous growth and financial excellence, they have earned an A- (good) rating from a.m. best. As well as a BBB+ rating from Standards & Poors. In addition, they have an A+ rating from the Better Business Bureau. They continue to outperform year after year and give the best customer experience to their clientele. Colonial Penn is definitely a great company to be part of.
The Benefits of Burial Insurance or Final Expense Insurance?
Having burial insurance or final expense insurance is vital for anyone. Funerals these days can cost between $5,000 and upwards to $25,000 dollars. Instead of paying that cost out of pocket, having a burial insurance policy can help cover that costs and more. Funeral expenses like cremation, funeral home rental, tombstone, and more can all add up.
Instead of having your loved ones worry about paying for that cost. Final expense insurance can give them and you the peace of mind that the only thing they’ll have to worry about is mourning the loss of a loved one. Most of all, with monthly premiums, the cost for burial insurance can be very low depending on your unique needs.
If you are wondering if burial insurance may be for you, or would like to sign up and learn more, contact us at 800-208-4974. One of our trusted insurance agents will be more than happy to guide you in finding the right burial insurance plan.
Colonial Penn Burial Insurance or Final Expense and Life Insurance Plans are available in all U.S. states except New York. Their products are also accessible in the District of Columbia, Puerto Rico, and the Virgin Islands. If you have questions about their burial insurance or would like to know if you are eligible, give us a call at 800-208-4974. One of our experienced insurance agents would be happy to assist you.
Colonial Penn Final Expense Insurance and Burial Insurance Benefits
Colonial Penn has a variety of burial insurance plans that can suit each person’s unique needs. In this article, we will review the Colonial Penns Term Life insurance Policy, Whole Life Insurance, and Guaranteed Acceptance Life Insurance. With these different plans, a policyholder can rest assured that all funeral expenses will be taken care of, plus more.
Depending on the plan you get, there may be added cash value that can be used to pay for funeral expenses and the surplus cash can be used freely for the appointed beneficiary. This could be used to pay off home mortgages, medical bills, or school tuition.
Colonial Penn also makes it very accessible for folks to qualify for their burial insurance plans. Even if you have a serious health condition you may still apply and get coverage.
To find out more about Colonial Penn Final Expense insurance, give us a call at 800-208-4974. One of our expert burial insurance agents will be more than happy to answer any questions you may have or compare plans with you.
Colonial Penn Term Life Insurance Products
With the Colonial Penn Term Life insurance policy, folks interested can apply as early as 18 years old to 75 years old. This plan is exactly as is it coined, “term,” in that case, you can apply this plan in phases in your life where you think you’ll need it the most. For instance, when you are raising a child, you can apply this plan for 18 years until they are an adult.
With the Colonial Penn Term Life plan you can buy up yo $50,000 of coverage. Also, a medical exam isn’t required. However, there will be health questions related to gender and birthdate, which will affect your monthly premium. One of the downsides of this plan is that it will increase every 5 years since the policyholder is turning more and more “at-risk.” Lastly, the policy can only be renewed at age 90.
If you think the Colonial Penn Term Life Insurance plan may be for you. Give us a call at 800-208-4974. One of our trusted insurance agents will be able to answer any questions and provide you a free quote comparison.
Colonial Penn Whole Life Insurance Plan
Whole Life insurance offered by Colonial Penn is a bit more robust than the Term Life. Folks can start applying for this plan between the ages of 40 to 75 years old. In addition, folks won’t be required to take a medical exam but, will be required to answer some health questions.
The advantage of this plan is that the monthly premium will stay the same throughout the life of the policy, and the policyholder will be covered as long as they pay for the premiums. In that case, you are covered for life and the appointed beneficiary can use the payout to pay for funeral expenses and other non-related burial costs.
Wondering if the Colonial Penn Whole Life insurance policy may be best for your needs? Give us a call at 800-208-4974. We’d be more than happy to compare different plans and providers with you to find the best policy for your unique needs.
Colonial Penn Guaranteed Acceptance Life Insurance or Guaranteed Issue
Colonial Penn Guaranteed Acceptance Life Insurance is for folks between the ages of 50 to 85 years old that may have serious medical or health issues. In those cases, this plan won’t require people to get a medical exam or answer any health questions. Coverage amount will vary per individual and their case, the disclaimer is that since Colonial Penn doesn’t require folks to take medical or answer any health questions, the company is more at-risk. In addition, policyholders won’t receive their full benefits until after a two-year waiting period.
If the policyholder passes away before that waiting period is done they won’t get the full payout but will receive the premiums paid plus some interest rate. However, this guaranteed acceptance plan makes it accessible for all people to get coverage, even if you have life threatening illness.
To find out more about Colonial Penn Guaranteed acceptance policy or their permanent whole life insurance plan, give us a call at 800-208-4974. One of our trusted insurance agents will be able to assist you in finding the right plan for your needs.
Our Expert Insurance Agent Recommendation
We highly recommend folks to sign up for burial insurance, and we believe that Colonial Penn has a long history of providing top-notch life insurance products and customer service. They try to give policyholders maximum coverage for their unique needs. They have premium rates that can be tailored to each person’s budget. Depending on the type of life insurance you get it will come with different payouts or benefit amounts. However, with their Guaranteed acceptance policy, eligibility won’t matter since all are accepted.
thumbIf you have any questions on Colonial Penn burial insurance or final expense, give us a call at 800-208-4974. One of our trusted insurance agents will provide you with a free consultation and quote comparison.
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