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Is My Colonial Penn Life Insurance Quote the Best rate?

Is My Colonial Penn Life Insurance Quote the Best rate?

Colonial Penn Insurance is extending life insurance coverage to consumers at affordable prices. The company focuses their efforts primarily on seniors and their loved ones.  The company is so popular, many search the web by mistakenly typing colonialpenn com whole life insurance to locate them.  In this article we explain the process for obtaining a Colonial Penn life insurance quote.  Compare other insurance carrier rates by clicking on “View Your Quotes” button above.

Colonial Penn Life Products and Markets

Colonial Penn sells life insurance products for ages 18-85, and all their products help ease financial burdens at a stressful time. Their most popular plan is the Guaranteed Acceptance Life Insurance, available for ages 50 and over. Plus, they offereasyissueterm life insurance and permanent, whole life insurance. You can buy term and whole life valued up to $50,000 – without a medical exam, just complete a few health questions. Their rates can be found at my colonial penn com, mycolonialpenn or mycolonialpenn com

Renewable Term Life

Level term life insurance guaranteed renewable up to age 90. Your rate is the same until you reach a new age band. Rates rise as you enter a new age bracket.

Permanent Whole Life

Colonial Penn is offering permanent, whole life insurance that continues for a lifetime. Once insured, your premium rate will not increase for the life of the policy.

Guaranteed Acceptance Life Insurance

Acceptance Guaranteed, No medical exam, no health questions.

A Colonial Penn life guaranteed acceptance insurance quote means you will not be turned down because of your health. Alex Tribek is leading the way as their chief spokesman. This is a permanent, whole life insurance product with no health questions asked and no physical or medical exam to take. Your premium rate is somewhat steep, but its locked in for life.
Guaranteed issue whole life insurance is two-year graded death benefit insurance program. There are limitations that you should know about. For example, if you die in the first two years the policy will only refund your premium plus interest. The full death benefit is paid only if death was due to an accident as defined in the policy.
So why bother getting a Colonial Penn quote for life insurance if it has these serious limitations to the coverage?  In most cases someone will choose Colonial Penn guaranteed issue life insurance if they have been declined in the past. Compare our Almost Guaranteed Issue and  Senior Special, perhaps you qualify.  If not there are still better rate options to consider as well.

What Does A Guaranteed Issue Whole Life Policy-Guarantee?

The death benefit is guaranteed, therefore it will not lower over the life of the policy. Your premium is guaranteed and will not increase as long as you make premium payments on time. In other words, your premium is fixed for the life of the policy.

It is important to know what kind of policy you are buying if Colonial Penn is your choice. You must fully grasp what the “Graded Death Benefit” clause means because you’ll end up buying the wrong policy. Colonial Penn is paying the full benefit on their guaranteed issue product only after the first two years of the policy.

Can I Get a Colonial Penn Quote for Term Life Insurance Coverage?

Absolutely yes, however you should be very careful. The Colonial Penn term life insurance products have a initial premium to start, however that increases as you age. The premium (the cost you pay for your insurance) rises as you get older. This is a renewable term insurance policy and is often sold to many unsuspecting seniors and their families. The problem—it becomes too expensive and unaffordable in later years after you’ve already paid in thousands of dollars for coverage.

This is hardly a unique feature only offered by Colonial Penn, several insurance companies provide policies that have premiums that increase over time. Although there maybe some circumstances, rarely is this a good deal for the policyholder in the long run. A good rule of thumb to follow before buying any insurance is to see what will you be paying in 10, 15 or even 20 years down the road. An independent licensed professional will help you determine all the factors to consider before making your purchase.

Your Insurance Company Should Have a Stellar Record of Paying Claims

It is very important when looking at life insurance companies; you research the financial strength of the company as well.  A.M. Best rates the insurance carriers on financial strength. Finding out the financial rating of every company that you plan on purchasing a policy from is crucial. The financial rating of a company shows the solvency and their ability to pay claims. Make sure that the company you choose has a solid history of paying death benefits to families like yours.

When you are choosing which insurance plan is best for you, it can be a confusing process. We walk our customers through the myriad of factors involved in purchasing life insurance. Our licensed professionals are helping individuals like you obtain the right kind of coverage. They help you decide what’s best for you–whole life or a term life insurance policy. Picking the wrong type of coverage could leave your family with debts  that make the situation worse. Contact our licensed professional, we’ll will walk you through the entire process to obtain life insurance protection for your family.
 A Colonial Penn quote may seem to be the best, however there are more attractive options available. To find out about other lower priced options available to you, please click on our “View Your Quotes” button , in addition you can speak with a licensed agent by calling  866-936-3831. Gary W Blackmon is helping customers from California to New York find cheap life insurance.
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