Colonial Penn Life Insurance Rate Chart Calculator

Your Age:

Desired Coverage Amount (in thousands):

Gender: Male Female

Health Rating: Excellent Good Fair Poor

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Understanding Colonial Penn Life Insurance Rates

Colonial Penn offers life insurance policies, notably their popular "9.95 Plan," which aims to provide affordable coverage. Understanding how their rates are determined is key to finding the right policy for your needs. While specific rates are best obtained directly from Colonial Penn due to individual underwriting and state-specific regulations, this calculator provides an illustrative estimate based on common factors.

Factors Influencing Your Colonial Penn Rate:

Age: As with most life insurance, younger individuals generally qualify for lower premiums. Your age at the time of application is a primary rating factor.
Coverage Amount: The total death benefit you wish to leave to your beneficiaries directly impacts your premium. Higher coverage amounts typically mean higher monthly costs. Colonial Penn's $9.95 plan is structured with specific coverage amounts available at that price point, which vary significantly by age.
Gender: Statistical data indicates differences in life expectancy between genders, which can lead to slightly different premium rates.
Health Status: Your overall health is a critical component. Insurers assess your health through questionnaires and sometimes medical exams. Factors like weight, pre-existing conditions, smoking status, and lifestyle choices all play a role. Colonial Penn may categorize applicants into different health ratings (e.g., excellent, good, fair, poor), with better health generally leading to lower premiums.
Policy Type: Colonial Penn's signature product is a simplified issue whole life insurance policy. The pricing for this product is often designed to be straightforward, but individual circumstances can still lead to variations.

How the Calculator Works:

This calculator uses a simplified model to estimate your potential monthly premium. It considers the factors listed above:

You input your current age.
You specify the desired coverage amount in thousands of dollars.
You select your gender.
You choose a general health rating (excellent, good, fair, or poor).

Based on these inputs, the calculator applies a series of adjustments to a baseline rate per thousand dollars of coverage. Please remember that this is a general estimation tool. The actual premium offered by Colonial Penn will be based on their specific underwriting guidelines, the exact plan details, and your individual application information.

Why Choose Colonial Penn?

Colonial Penn is often chosen for its accessibility, particularly for those seeking guaranteed acceptance or affordable coverage options. Their policies are designed to be straightforward, making them a popular choice for individuals who may have found other life insurance options complex or out of reach. It's always recommended to get a personalized quote directly from Colonial Penn to understand the precise coverage and cost for your unique situation.

Disclaimer: This calculator is for illustrative and educational purposes only and does not constitute a binding quote. Rates shown are estimates and may not reflect actual Colonial Penn premiums. Consult with Colonial Penn directly for accurate pricing and policy details.