Colonial Penn Burial and Funeral Insurance
Colonial Penn Life Insurance is a life insurance company that is based out of Philadelphia, Pennsylvania. Colonial life is licensed in many of the 50 US states and is likely to be able to issue a life insurance policy in your area. Colonial Penn offers a variety of life insurance products including burial and final expense insurance options.
Colonial Penn Burial Insurance Policies
Colonial Penn offers burial insurance policies for those between the ages of 45-75 depending on your location. These policies are available in five different amounts: $5,000, 10,000, 15,000, 20,000, and 25,000. The total policy benefit amount is paid to beneficiaries upon the death of the policy holder.
Colonial Penn Burial Insurance Plan Benefits
Colonial Penn burial insurance is very easy to purchase without any worry or concern. In addition to being able to choose the policy amount, interested enrollees are able to purchase a policy and receive a money-back guarantee if they cancel within the first 30 days.
In addition to a satisfaction guarantee and the ability to choose your policy amount, your Colonial Penn burial insurance policy builds a cash value after the first year of payment. This means that if you pass away after one year but your policy has not reached full value maturity, you are entitled to 100% repayment of the monthly premiums you have paid towards your policy.
Finally, there is no medical exam required to enroll with a Colonial Penn burial insurance policy. This makes it easy for people with existing, non-terminal conditions to receive a policy. Also, the rate you pay at the beginning of your policy will never go up and your benefit amount will never go down. This guarantees that you pay a flat rate each month and can rest assured that your benefits will not decrease as you age.
Purchasing a Burial Insurance Policy
While you consider buying a funeral insurance policy, keep in mind that not all plans will fit your specific needs. Be sure to consider the cost of your funeral before purchasing more or less burial insurance that you will need. Many different companies offer attractive pricing or policy benefits that might not be necessary. If you are wondering which company is best for you, fill out our form to receive a free quote.