colonial penn life insurance rates

Colonial Penn Life Insurance is a very unique company that hands out a no questions asked life insurance policy. In other words, it hands out life insurance policies to anybody who applies for it, regardless of health condition. It only requires that people be in the 50-85 age range to qualify for their life insurance policies. Below, one can get an idea of the Colonial Life Insurance Rates that will apply, when they sign up for an insurance policy from them.

How much does life insurance policy at Colonia Penn Life Cost?

Colonial Penn Life charges insurance rates by the unit, per month. One unit, on an average, buys $1,000 worth of life insurance coverage. The cost of one unit is $9.95. Though the cost of one unit remains the same for almost all age groups, the amount of coverage that people will be entitled to, will vary from state to state and according to age.

Here are some examples of the cost of insurance policies at Colonial Penn Life Insurance

Male, 50 years of age, residing in the state of California

• He will have to pay $9.95 monthly for one unit of life insurance. 1 unit will fetch him a life insurance cover of $1,786
• Similarly, he can pay $79.60 as a monthly premium to get insurance coverage that is worth $14,288

Female, 50 years of age, residing in the state of California

• She will have to pay $9.95 monthly for one unit of life insurance. 1 unit will fetch her a life insurance cover of $2,083
• Similarly, she can pay $79.60 as a monthly premium to get insurance coverage that is worth $16,664

Male, 65 years of age, residing in the state of California

• He will have to pay $9.95 monthly for one unit of life insurance. 1 unit will fetch him a life insurance cover of $932
• Similarly, he can pay $79.60 as a monthly premium to get insurance coverage that is worth $7,456

Female, 65 years of age, residing in the state of California

• She will have to pay $9.95 monthly for one unit of life insurance. 1 unit will fetch her a life insurance cover of $1,333
• Similarly, she can pay $79.60 as a monthly premium to get insurance coverage that is worth $10,664

As one can see from the above figures, the cost of life insurance goes up quite dramatically as one ages, even though the cost of one unit remains the same. Another point to note is that Colonial Penn Life insurance rates can vary from state to state as well, not just with changes in age and gender.