The cost of a unit of Colonial Penn life insurance will depend on a variety of factors, including the policyholder’s age, gender, health status, and the amount of coverage they are seeking. Colonial Penn is a direct-to-consumer life insurance company that specializes in simplified issue life insurance policies, meaning that you can apply for coverage without taking a medical exam.
Colonial Penn’s policies are sold in units, with each unit representing $9.95 of coverage. The cost of each unit will vary depending on the age of the policyholder and the number of units purchased. For example, for a 50-year-old male, one unit of coverage may cost $9.95 per month, while 10 units may cost $13.95 per month.
It’s important to note that the cost of coverage will increase as the policyholder ages, so it’s best to purchase coverage as early as possible. Additionally, Colonial Penn is a simplified issue policy, meaning that they will ask some health questions but no medical examination is required.
Keep in mind that life insurance costs can vary widely based on your personal circumstances, so it’s always best to compare quotes from multiple providers to find the best policy for your needs. You can also contact Colonial Penn directly and ask them for a quote for the coverage that you are looking for.
