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Colonial penn 995 plan12/10/2023 ![]() ![]() We are going to use the same example as we did in the last carrier overview. You see, they push Globe Life as a whole life product when in actuality it’s a term life insurance product. Then I have to explain to them what is really going on. ![]() That is horrible!! I can’t tell you how many times I hear a week from seniors that they got a better price from Globe. Although you can get up to $100,000 in coverage, they push the term insurance hard and insinuate that you are getting a whole life insurance Here is another carrier that is misleading and really puts seniors in a bad position. So, knowing all of this, what are you going to say to yourself when you see a late-night commercial with a paid spokesman? Check out our review on Colonial Penn’s GIMMICK under $10 plan in great detail. Now if you would have got coverage from us at age 60, with a $99.50 budget, you would have had $32,462 in coverage with Mutual of Omaha. In that timeframe, you would have paid $29,850 in premiums for $4,180 in coverage. So at age 85, you would have paid for this policy for 25 years. Wait, it gets better, you would pay $99.50/month which Alex told you would never increase, BUT……Īge range 70, Your coverage amount would be $7,170 NOW, at age 65, you would pay the same $99.50/month, but your coverage would have dropped to $9,320. For this, you would get $12,140 in coverage. So if you are 60 years of age and bought 10 units it would cost you $99.50/month. In reality, your final expense coverage goes down every year you get older.įor example, Colonial Penn uses units and each unit is $9.95. What it really is is a misleading tactic that gets you to buy. What he tells you is you can have a graded death benefit for $9.95 a month that will never increase in price and your coverage will never stop. Furthermore, they use paid spokesman like Alex Trebek to sell their Gimmick plan for under 10 bucks. This carrier and the way they bait seniors in with their late-night low-cost gimmick is a disgrace. These are the 6 best burial insurance companies you will need to avoid!! Colonial Penn Here at, we are a family-owned business, have relationships with over 30 A/A+ carriers, and provide you with a personable process that will leave you comfortable ranting about us and sharing us with family and friends. Another thing we will explain in this article. But be careful, these carriers we mentioned have started hiding in the organic area under the paid ads just to rope you in. These are usually located under paid ads. Overall, you want to focus on the experts. These are what we call “hybrid” products. In addition, State Farm and a few others. Paid ads are usually from companies like AARP, Colonial Penn, Globe Life, and Lincoln Heritage. Overall, if you are looking for final expense life insurance you usually start at a simple Google search, am I right? This is good if you can decipher through the noise of “paid” ads and Gimmicks to get to the real site you want.
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