Colonial Penn Life Insurance Rate Chart by Age
The Colonial Penn life insurance rate chart by age is often searched by families who want a clear answer: how much coverage does the advertised $9.95 monthly price buy? The answer is not one death benefit for everyone. Colonial Penn sells guaranteed acceptance whole life insurance in units. Each unit costs $9.95 per month, while its benefit depends on age, gender, and state.
This guide explains the Colonial Penn life insurance rate chart by age in plain language. It shows estimated coverage per unit for ages 50 through 85, explains the two year limited benefit period, and compares other whole life insurance approaches. The goal is to help you compare cost, coverage, timing, and long term value before deciding.
Important Accuracy Note
Colonial Penn does not publish one universal chart for every applicant. Its official information says benefit amounts vary by age, gender, and state, and applicants should request a personalized quote. The figures below are published reference estimates for one $9.95 unit. They are educational, not a quote or guarantee. Montana generally uses age rather than gender. Availability and terms may also vary by state.
How the $9.95 Unit System Works
Under the $9.95 plan, you choose units instead of a standard face amount such as $10,000. One unit always costs $9.95 monthly. The coverage inside that unit usually becomes smaller as issue age rises.
For example, an estimated unit for a man age 50 may provide $1,669. At age 70, it may provide about $689. A woman age 50 may receive around $2,000 per unit, while a woman age 70 may receive about $1,000. More units raise both the premium and total benefit.
The Colonial Penn life insurance rate chart by age should therefore be read as a coverage chart. The unit price stays fixed, but each unit buys a different benefit.
Colonial Penn Life Insurance Rate Chart by Age: Estimated Benefit for One Unit
Estimated death benefit for one $9.95 monthly unit. Values may vary by state and policy issue details.
| Age | Estimated Male Benefit | Estimated Female Benefit |
|---|---|---|
| 50 | $1,669 | $2,000 |
| 51 | $1,620 | $1,942 |
| 52 | $1,565 | $1,890 |
| 53 | $1,515 | $1,845 |
| 54 | $1,460 | $1,802 |
| 55 | $1,420 | $1,761 |
| 56 | $1,370 | $1,719 |
| 57 | $1,313 | $1,669 |
| 58 | $1,258 | $1,620 |
| 59 | $1,200 | $1,565 |
| 60 | $1,167 | $1,515 |
| 61 | $1,112 | $1,460 |
| 62 | $1,057 | $1,420 |
| 63 | $1,000 | $1,370 |
| 64 | $949 | $1,313 |
| 65 | $896 | $1,258 |
| 66 | $846 | $1,200 |
| 67 | $802 | $1,167 |
| 68 | $762 | $1,112 |
| 69 | $724 | $1,057 |
| 70 | $689 | $1,000 |
| 71 | $657 | $949 |
| 72 | $627 | $896 |
| 73 | $608 | $846 |
| 74 | $578 | $802 |
| 75 | $549 | $762 |
| 76 | $521 | $724 |
| 77 | $493 | $689 |
| 78 | $468 | $657 |
| 79 | $441 | $627 |
| 80 | $426 | $608 |
| 81 | $424 | $578 |
| 82 | $423 | $549 |
| 83 | $421 | $521 |
| 84 | $420 | $493 |
| 85 | $418 | $468 |
Scroll within the table to see all ages, 50 through 85.
How to Read the Numbers
The Colonial Penn life insurance rate chart by age shows estimated benefit declining as age increases. That matters because a low unit price can create a sizeable total premium when a family needs several thousand dollars of final expense coverage.
A 65 year old man seeking about $10,000 may need twelve estimated units, costing about $119.40 monthly. A 65 year old woman may need eight units, costing about $79.60 monthly. These are rounded planning examples, not quotes.
Always compare the total monthly premium with the actual death benefit. Looking only at $9.95 can hide the cost of reaching a useful coverage goal.
The Two Year Limited Benefit Period
Guaranteed acceptance means eligible applicants do not answer health questions or take a medical exam. Colonial Penn says the plan is generally available from ages 50 through 85 in most states. Acceptance is supported by a two year limited benefit period.
During that period, the policy generally does not pay the full natural death benefit. Exact payment rules appear in the contract and should be reviewed carefully. Accidental death provisions may differ. After the period, the full benefit can become payable under the contract.
The Colonial Penn life insurance rate chart by age cannot show this timing risk. An affordable policy may still be unsuitable when immediate full coverage is needed.
Comparison of Common Life Insurance Options
The next comparison places the guaranteed acceptance plan beside simplified issue whole life insurance and fully underwritten life insurance. Exact features vary by company, but the table highlights the questions buyers should ask.
| Feature | Colonial Penn Guaranteed Acceptance | Simplified Issue Whole Life | Fully Underwritten Life Insurance |
|---|---|---|---|
| Health review | No medical exam or health questions | Health questions, usually no exam | Health questions and often an exam |
| Acceptance | Guaranteed for eligible ages | Approval depends on answers | Approval depends on full underwriting |
| Early benefit | Two year limited benefit period | Often immediate, subject to policy | Usually immediate, subject to policy |
| Coverage amount | Built through $9.95 units | Chosen face amount | Chosen face amount |
| Premium value | May be costly per $1,000 of benefit | Often stronger for qualifying applicants | Can offer strong value for healthy applicants |
| Cash value | Whole life cash value may build | Usually builds cash value | Depends on the policy type |
| Best fit | Applicants with serious health barriers | Applicants who can answer health questions | Applicants comfortable with detailed underwriting |
What Affects the Real Cost
The Colonial Penn life insurance rate chart by age is only a starting point. Review these factors:
- Target benefit. Estimate funeral costs, debts, medical bills, and family support needs.
- Total premium. Multiply $9.95 by the units, then test the payment against a long term budget.
- Waiting period. Confirm what beneficiaries receive during the first two years.
- State terms. Coverage values and availability may differ by location.
- Health. Someone who qualifies for simplified issue coverage may receive more benefit for the budget.
- Guarantees. Check whether premiums and benefits stay level and how cash value works.
- Documents. Read the illustration, exclusions, and free look provisions before signing.
Potential Advantages and Limitations
The Colonial Penn life insurance rate chart by age can help applicants who were declined elsewhere or prefer a no exam process. The plan offers simple unit pricing, guaranteed acceptance for eligible ages, locked premiums after issue, and permanent coverage while premiums are paid.
However, older applicants may receive a small benefit per unit. A larger goal can require many units. The two year limited benefit period is another drawback. Guaranteed acceptance does not mean guaranteed best value.
A medically reviewed policy may offer more coverage for each premium dollar. Yet health history can make guaranteed acceptance practical. The right choice depends on the applicant, budget, and timing needs.
Consider Whole Life Insurance Alternatives
Before choosing a unit based plan, review broader whole life insurance solutions. Whole life coverage can provide a level death benefit, level premiums, and cash value, though design and pricing vary. Self Empowered Financing & Consulting, LLC helps clients examine coverage goals, affordability, and financial priorities rather than one headline price.
Explore our whole life insurance planning service to see how permanent coverage may support final expenses, legacy goals, and a coordinated strategy. A personalized review can identify whether guaranteed acceptance, simplified issue, or another structure deserves consideration.
How to Use the Chart Before Buying
Use the Colonial Penn life insurance rate chart by age as a starting point:
- Set the benefit your family may need.
- Calculate the units required to approach that amount.
- Multiply units by $9.95 for the monthly premium.
- Request an official quote for your age, gender, and state.
- Compare a medically reviewed whole life option when possible.
- Read the limited benefit wording and exclusions.
- Choose a premium that can remain manageable for life.
This process helps prevent buying too little protection or accepting an unsustainable payment.
Frequently Asked Questions
Is the $9.95 price the total monthly premium?
It is the price of one unit. If you purchase ten units, the monthly premium is generally ten times $9.95, or $99.50. Your official quote controls.
Does coverage decrease after the policy starts?
Colonial Penn says the benefit does not decrease because of age or health after coverage begins, provided the policy remains in force.
Is the Colonial Penn life insurance rate chart by age an official quote?
No. The chart is an educational estimate. Request a personalized quote because benefit amounts can vary by age, gender, state, and policy details.
Conclusion
The Colonial Penn life insurance rate chart by age makes the $9.95 unit system easier to understand. Younger applicants generally receive more coverage per unit, while older applicants receive less. The plan may help people with serious health barriers, but units, total premium, waiting period, and benefit should be reviewed together.
Self Empowered Financing & Consulting, LLC can help you look beyond an advertised unit price. Contact our team for a personalized life insurance consultation and a clearer comparison of permanent coverage strategies with confidence, clarity, and careful long term planning for the needs that matter most today.
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