You’ve probably seen Alex Trebek on your television giving you the low-down on the Colonial Penn Life Insurance Company. Known for its late, beloved celebrity spokesman and its affordable insurance programs, this company is best known for its term life coverage.
- 1 How much life insurance do you get from Colonial Penn for $9.95 a month?
- 2 How much coverage is the $9.95 plan?
- 3 What insurance company does Alex Trebek represent?
- 4 Did Alex Trebek advertise Colonial Penn life insurance?
- 5 How much does Colonial Penn pay Alex Trebek?
- 6 How much life insurance can I get without a medical exam?
- 7 What do you get from Colonial Penn for 995 a month?
- 8 How much is a unit of Colonial Penn life insurance worth?
- 9 Does Jonathan Lawson really work for Colonial Penn?
- 10 What is difference between whole life and term life insurance?
- 11 What does a unit mean in life insurance?
- 12 Is Colonial Life and Colonial Penn the same company?
- 13 Who owns Colonial Penn insurance?
- 14 Who bought Philadelphia Life Insurance Company?
How much life insurance do you get from Colonial Penn for $9.95 a month?
You call Colonial Penn to get a quote for $15,000 in coverage and they tell you they can’t do that– you have to buy units. For a 68 year-old-male, 1 unit at $9.95 a month qualifies you for a total of $792 in life insurance coverage.
How much coverage is the $9.95 plan?
With this plan, you can receive a coverage maximum of $50,000, and it is available to anyone between the ages of 18 and 75.
What insurance company does Alex Trebek represent?
What is Alex Trebek life insurance and how does it work? Alex Trebek was a paid spokesman for Colonial Penn Life Insurance. They have three types of coverage. There is guaranteed issue whole life (costs $9.95 per unit), simplified issue whole life, and renewable term.
Did Alex Trebek advertise Colonial Penn life insurance?
Let’s review the most common Alex Trebek insurance advertisements that you’ve probably seen for years on television. Alex Trebek is the official endorser of Colonial Penn’s guaranteed acceptance life insurance plan. He’s been a paid endorser for many years, and before him, Ed McMahon also endorsed Colonial Penn.
How much does Colonial Penn pay Alex Trebek?
According to The Daily Mail, Trebek is worth around $50 million. That hefty amount is anchored by the reported $10 million annual salary he receives from hosting the show. It’s important to remember that Colonial Penn offers units in the amount of 9.95 each.
How much life insurance can I get without a medical exam?
Simplified issue life insurance Simplified whole life, or permanent, insurance policies of up to $50,000 are available for consumers up to age 75 without a medical exam or lab tests.
What do you get from Colonial Penn for 995 a month?
Colonial Penn 995 plan (guaranteed acceptance) The Colonial Penn life insurance for $9.95 per month is a guaranteed acceptance whole life policy with a 2-year waiting period. Everyone pays $9.95 per unit (max of 12 units). How much coverage you get for $9.95 depends on age and gender. There are no health questions.
How much is a unit of Colonial Penn life insurance worth?
Colonial Penn’s guaranteed life insurance works by adjusting the benefit amount (also known as coverage) per unit based on your age, gender and location. Each unit will always be $9.95, but how much coverage you get for $9.95 will change. If you want to get more coverage, you have to buy more units.
Does Jonathan Lawson really work for Colonial Penn?
Jonathan Lawson served in the Marine Corps and earned his college degree while working full time at Colonial Penn. Now, Colonial Penn customers who have benefited from Mr. Lawson’s advice over the years say thank you to him, and thank you to Colonial Penn.
What is difference between whole life and term life insurance?
Two of the most common types of life insurance are term life vs. whole life. Both term life and whole life provide a death benefit for the beneficiaries you choose, but whole life is a type of permanent policy with a savings component, while term life is only in force for the period of time that you choose.
What does a unit mean in life insurance?
A unit of life insurance is the minimum amount of coverage you can purchase, and an increase in coverage will be a multiple of the basic unit, according to Baltimore Life Cos. If, for example, the life insurance company deals in units of $1,000, you could could purchase five units to receive $5,000 in total coverage.
Is Colonial Life and Colonial Penn the same company?
Is Colonial Life and Colonial Penn the same insurance company? No. Colonial Life provides a range of life, and supplemental coverage plans to benefit the employees.
Who owns Colonial Penn insurance?
Colonial Penn Life Insurance Company is a subsidiary of CNO Financial Group, Inc, a financial services organization headquartered in Carmel, Indiana. Through its subsidiary companies, CNO currently serves more than 4 million middle-income working Americans and retirees.
Who bought Philadelphia Life Insurance Company?
Japan’s Tokio Marine Holdings, Inc. reported that it has agreed to acquire all outstanding shares of Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion.