Many of us have heard the Alex Trebek insurance commercial more than a few times. Maybe you’re wondering if it is really a good policy?
As the host of Jeopardy for many years, plenty of consumers saw him as someone who is articulate and probably trustworthy.
Maybe you agree?
While that all sounds nice, it is important to note that Mr. Trebek was not a life insurance expert, but a paid spokesman for Colonial Penn Life Insurance Company.
Consumers need to proceed with caution with this particular life insurance product. It is not for the average consumer frankly.
If you have been in search of a Colonial Penn Guaranteed Acceptance insurance review, you’ve come to the right place. Just don’t be surprised if I bring the heat!!
Before we get to far, I would like to make in known:
In no way do we wish to put down Mr. Trebek. He suffered with a terrible form of cancer and never quit. He brought a lot of people a fun, educating game show for years and it is sad to know he won’t be returning.
With that said let’s continue…
FYI, I talk to numerous people 50 and up 6 days a week. Most people are shocked when I explain why they don’t want to own a policy like this unless they have no better life insurance alternatives. Most often, consumers do not realize the actual cost and the policy limitations based on the advertisement.
The problem here, we have a sponsored celebrity endorsing a big name “end all be all” burial insurance product.
Thing key point to remember, Alex Trebek, who has the respect of many people, was also a well compensated endorser of the Colonial Penn life insurance company. He is not carrying a life insurance license or maintaining the required education for the industry as a whole. He is not an expert.
We are not talking trivia when it comes to life insurance. It is a very important decision.
Without having a background in life insurance and thorough insurance and field underwriting education, his judgement of what the average senior needs for life insurance is really limited.
It is fair to suggest he probably has been well paid over the years so his resources and his financial situation is likely different than most people on a fixed and or limited income.
With that said, do you believe he knows that much more about your life insurance needs versus the person down the street?
I’ll let you make your own assessment there.
Before I get into the meat of this post, it is advised to use our free, instant quoting tool on this page. These policies are designed for those in less the poor health as well. Find out what the competition is charging its policyholders. No one wants to overpay for insurance. Simply judge your health compared to your peers and less than a minute you will know what all the top life insurance companies will charge you compared to the policy marketed by the late Mr. Trebek.
Alex Trebek Insurance – The Colonial Penn Mainstay
If you had not already made the connection, the trivia game show host himself is the celebrity that drives a lot of people to consider Colonial Penn life insurance and their “Guaranteed Acceptance” policy.
No, he does not run the insurance company nor does he provide the insurance products to you. He also has nothing to do with paying claims or customer service either.
The Alex Trebek insurance endorsement is specific to one life insurance product from CP.
Colonial Penn is located in Philadelphia, Pennsylvania. The company has a long history of selecting celebrities to endorse their life insurance product. We all know Ed McMahon, Joe Theismann and even Jerry Lewis. They were all paid endorsers. They were probably not working out of the goodness of their heart, right?
As of now, when we hear an Alex Trebek life insurance commercial, it is a promotion of a single Colonial Penn whole life insurance product.
How much is Alex Trebek actually paid?
I do not have an answer for that, but I can assure you, all the CP policyowners are paying for it. It is a huge Colonial Penn marketing expense. Insurance companies figure costs like this into policy expenses which translates to higher premiums.
The life insurance product he is promoting is a guaranteed issue, whole life insurance product. This type of policy is available from a number of life insurance companies and not proprietary to Colonial Penn.
It is a high risk life insurance product for those who cannot qualify medically for better life insurance coverage. For example, someone who may be suffering from a terminal illness, have active, internal cancer. Do you require kidney dialysis or have a a recent organ transplant? These situations do require guaranteed issue life insurance.
If your thinking…I didn’t know that fact, read on.
Life Insurance Advertised By Colonial Penn
Television has been the common marketing avenue of Colonial Penn for years. The average person over 50 will also be ambushed with junk mail advertising as well.
A lot of people, young to old have seen the Alex Trebek life insurance commercial for Colonial Penn.
The focus of these advertisements has been to promote a whole life insurance policy that offers guaranteed acceptance, a “rate lock,”premiums that will never go up and a death benefit which will never go down.
This product, titled “Colonial Penn Guaranteed Acceptance Whole Life” is nothing unique. It is simply high risk life insurance on steroids.
It does not ask any health questions for starters.
That sounds pretty good right? Nice and easy.
It is going to cost the consumer dearly. It could also hurt your policy’s beneficiary.
You must understand that life insurance companies cannot evaluate the risk level of a person accurately without asking health questions. Life insurance is all about the pricing the risk they have in insuring someone. What do you think they do in to offset the risk of not having a clear picture of whom is requesting life or burial insurance protection from them?
You got it. They jack those rates up for starters…
They also insert a veiled 2 year limited benefit period for natural death into the policy.
Here is what you need to understand about that.
For the first 2 years of coverage with “Alex Trebek Life Insurance,” there is a limited death benefit due to cancer, stroke, heart attack… in other words, any “natural” cause. During this time period, your loved ones receive your premiums plus interest as the benefit amount if you pass away due to natural causes. Now, a car wreck would be covered in full as it is an accident.
Let’s throw out the fancy celebrity glitz and take a real look at what Mr. Trebek and Colonial Penn is trying to sell you.
So What Is The Alex Trebek Life Insurance Ad About?
Colonial Penn Life Insurance offers 3 different life policies. All 3 of these are marketed to senior citizens in general. The “Guaranteed Acceptance Life Insurance” is Alex Trebek’s endorsed product you hear so much about. The Col Penn Guaranteed Acceptance insurance is a lifelong, whole life policy with critical caveats.
It is important you understand these clearly before ever purchasing any guaranteed issue life insurance. This could end poorly for your loved ones or any other goal you had in mind before you purchased.
We’re going to stay focused on the Alex Trebek insurance product as that is what most seniors are curious about here.
I’m going to forgo the term life insurance product which is low quality anyway and the Colonial Penn standard whole life product which has tough underwriting and only available to seniors up to age 75 anyway.
No medical exams, no health questions. Your acceptance: guaranteed.
The above quote was taken directly from colonialpenn.com.
However, the truth is, this particular life insurance advertisment markets a whole life insurance policy with carefully, glossed over limitations and high premiums.
It is also supposed to be “affordable.”
After all, $9.95 gets you this product, right?
Well, if you looking to cover a cremation or full funeral and burial, your out of luck.
If you are wondering if the price per month was not accurate, you were just not aware of of how Colonial Penn prices their Guaranteed Acceptance life insurance. We will get to that specifically later in the article.
If you watched the video above, you may have noticed that the cost has increased nearly 50% in the last 20 years or so. Coverage was once $6.95 per unit.
While funerals have gone up in price over the years, I can tell you that in the late 90’s, the average, burial policy I sold was about $7000. Twenty years ago my licenses limited me to Michigan and Indiana, but that was pretty typical in the burial insurance business. Nowadays, it is about $10-11,000 on average for a full funeral around the country.
Ed McMahon used to advertise $6.95 per unit for Colonial Penn and their Guaranteed Acceptance coverage. Today, the Alex Trebek commercial for life insurance comes in at $9.95 per unit. Same product as well folks.
That my friend, is a huge increase in cost for life insurance especially with people living longer than ever!!
If you want to have a significant death benefit for your loved ones, $9.95 per month isn’t going to help out very much. That is a very, very small policy if you are planning for final expenses.
Remember, you are paying for permanent, lifelong coverage with this product. This is not term life insurance which expires often by age 80.
How Is Colonial Penn Price Life Insurance Advertised By Alex Trebek Priced?
For $9.95 a month, you can purchase one “unit” of the Colonial Penn Life Insurance Guaranteed Acceptance offering, the Alex Trebek insurance endorsement.
How Much is a Unit of Colonial Penn Life Insurance Worth Anyway?
This is the problem with Colonial Penn “units.” $9.95 sounds quite enticing but…
One unit does not buy enough insurance to scratch the cost of a cremation let alone a full funeral.
Since you are buying units, the more units you purchase the larger the value of your policy.
However, you need to know the value of the units. This is variable and VERY important to understand.
Stay with me here. I will elaborate on “units” in just a bit.
We work with dozens of the top life insurance carriers so I can attest to this fact.
Units are not typical in the life insurance business but it is legitimate.
With Colonial Penn Guaranteed Acceptance insurance, you can purchase more than 1 unit, which I would recommend.
How many can you buy?
Consumers age 50-85 are allowed to buy up to 8 units so the maximum premium you would have per month is just under $80.
Now some folks look at that and say, sounds like a good price.
Not really. Run a quote on the final expense quote tool on this page. See what that $80 per month will buy. Take a look at the competition out there. Be prepared to be shocked!!
Now, here is the kicker.
As mentioned earlier, you are buying a unit of insurance not a death benefit amount. Selling life insurance in “units” is not common in the industry at all.
With the Alex Trebek, Guaranteed Acceptance insurance ad, the older you are, the less insurance you get for each $9.95 unit you buy.
So a 75 year old is going to be penalized regardless of good health versus a 65 year old who may have congestive heart failure. With this Colonial Penn Guaranteed Acceptance plan, the value of the “units” depends strictly on your age, not health. At 65, the policy value of each $9.95 unit is much higher which translates into more death benefits than the than the healthy individual. In fact, there is no way for a good health 75 year old to obtain the same amount of financial coverage if both purchased the maximum number of units with this particular policy. This can pose a major problem for some families for being underinsured and financial troubles for those we are trying to protect.
What to understand about Colonial Penn Insurance units…
The minimum value of one “unit” is currently $400 while the maximum is $2100. That is why the maximum policy value is $17,000. Again, it depends on the value of each “unit” at application. If you are age 80, the value of the unit is very low compared to age 55. Take a look at the Colonial Penn life insurance rates for this product in the tables below for specifics. We have provided rates by gender and age.
For many seniors, the guaranteed acceptance whole life policy advertised will not provide enough funding for a simple funeral.
What you need to remember about the Guaranteed Acceptance program from is that it is for high risk life insurance applicants.
They don’t tell you that do they?
Just because you are a senior does not mean that you are one of these candidates. In fact, here at our agency, roughly 80-90-% of seniors are not!
Yes, the other 10% of seniors life insurance policy holders have some very serious medical issues which impair their ability to medically qualify for standard, no exam, whole life insurance. Medically underwritten, no exam whole life is much more affordable and does not have all the limitations.
Keep in mind, people age 50-85 are the vast majority of our clientele at Maple Valley Insurance Group. We are not working with people in perfect health for the most part.
Guaranteed Acceptance coverage from any life insurance company that offers it, will take high risk individuals.
Because they do not ask any health questions. Health questions will eliminate a select number applicants who are in poor health for their age that can’t qualify for medically underwritten, full and immediate benefit insurance.
Sorry, the Alex Trebek insurance ad is not demonstrating anything special.
Specifically, this advertisement is for a final expense, whole life insurance policy designed primarily for seniors who cannot qualify for simple, medically underwritten, no exam, whole life insurance.
Does Colonial Penn life insurance accept all seniors on this plan?
Yes, as long as the insured is legally competent and can consent to coverage. Power of attorney is acceptable by the way.
Colonial Penn Insurance company is banking on you not knowing your options to save and that you will be drawn in to purchase the Guaranteed Acceptance life insurance plan even if you can medically qualify for better coverage. Why do you think the Alex Trebek insurance ad was created?
Why do you think you need high risk life insurance?
Ironically, Colonial Penn has 2 other senior products, but those aren’t mentioned during the ad.
Reviews Of Colonial Penn’s Guaranteed Acceptance Life Insurance
While there is no short supply of Alex Trebek life insurance reviews out there, here is the straight scoop you need to be absolutely clear on when comparing any life insurance product to another. Understand any and all limitations built into the policy.
The Pro’s Of The Alex Trebek Life Insurance Program
- This is permanent, whole life insurance that will never go up in cost nor down in death benefits. Lifetime coverage.
- Better than having no life insurance protection at all.
- First day coverage for accidental death…such as a car accident.
The Con’s With The Guaranteed Acceptance Life Insurance?
Guaranteed Acceptance coverage hands you a three fold penalty.
- Much higher premiums than the competition and commonly, lower value
- Limited benefits the first 2 years of ownership for natural death
- Limited maximum death benefit (face amounts). May not be adequate for many seniors final expense needs
Did you know these 3 key points?
With ANY guaranteed acceptance/issue life insurance, the first 2-3 years, the insured person is not covered with full benefits for natural death. With Colonial Penn, your family would only receive all premiums plus compound interest the first 2 years for a natural cause of death.
Many people miss that major detail. This is the highest risk the average elderly person faces.
Natural death…it is inevitable is it not?
Do we put our loved ones at risk because a high paid celebrity is touting an insurance product?
No life insurance company offers individual life insurance with no health questions and no medical examination without a mandatory waiting/limited benefit period. They must charge higher premiums and have a limited benefit period to offset their pure risk of loss.
Understanding A Guaranteed Issue Policy And The Fine Print
Insurance companies like Colonial Penn can’t approve applicants halfway in the casket or urn with full life insurance benefits. They’d be unable to pay all the claims real quick.
Remember, life insurance is a giant money pool each policyholder pays into. Imagine several people paying one months premium for a $10,000 death benefit. Colonial Penn would be sunk real quick with a policy like that.
You see, life insurance is all about statistics. A certain number of people in the policy will make it beyond 2, 5 even 10 years or more. Colonial Penn knows by statistics what they must bill you for your policy when you buy to allow them to make a profit with the risk profile they are willing to accept.
If you have decent to excellent health as a senior, they really love you!! It helps them make a lot more money because you are lumped in with a large number individuals who are very high risk.
Understand this…all limitations are applied to anyone who buys this type of policy. Not just the folks in very high risk health situations. It is automatic with a guaranteed issue whole life policy.
The Colonial Penn commercial has a certain “magic” about it that washes away the reality of their “guaranteed acceptance” life insurance plan.
The truth is, coverage is determined strictly by the terms written in that life insurance contract. Whether the commercial was misinterpreted does not change what the legal, binding policy contains. Colonial Penn will not be making any exceptions.
Yes, Alex Trebek insurance may seem like it is designed for all seniors as it accepts the healthy with the very unhealthy. That might be true but is it the best choice for you and your loved ones?
The biggest problem… your family may never see the benefits you thought they would get. The first 2 years won’t cover the cost of anyone’s burial costs.
That 2 year waiting period is a red flag ladies and gentleman!!
Now, I’ve covered one of the problems with the Colonial Penn, Alex Trebek insurance Ad.
The next one really affects those seniors on a fixed income and/or are money conscious.
Have I got you curious?
Colonial Penn Life Insurance Rates By Age – Alex Trebek Insurance Advertisement
Female Maximum Benefits For Colonial Penn Guaranteed Acceptance Life Insurance
|AGE||2 Units/$19.90||4 Units/$39.80||6 Units/$59.70||8 Units/$79.60|
Male Maximum Benefits For Colonial Penn Guaranteed Acceptance Life Insurance
|AGE||2 Units/$19.90||4 Units/$39.80||6 Units/$59.70||8 Units/$79.60|
Did you see the actual cost of insurance in the above chart. If so, you may have noticed that unless your quite close to age 50 particularly for men, that the protection is not cheap and the amount of coverage you get for your monthly premium is low. In fact, if you are in your mid 70’s and buy this product, you will not have enough to simply cover the cost of a funeral and burial.
Now why is this?
Mentioned earlier but Colonial Penn uses a non standard way of calculating their premiums. I don’t care for it and I think it is meant to confuse seniors into thinking this policy is very affordable regardless of your age at purchase. When I give you the competitors rate for the exact same kind of guaranteed acceptance life insurance, you will see CP Guaranteed Acceptance is not so “affordable” at all.
Regardless of age, the maximum number or units you can buy is 8. So, here is the problem. The older you are at the time of application with this Colonial Penn product, the lower the value of 1 unit is. That is why the rate charts above show diminishing amounts of insurance as you age. Men are hit considerably harder than women because women tend to live longer. That is a statistical fact.
Now, for those people that may need this type of insurance, I ran a quick quote of the top guaranteed acceptance companies across the country. Take a look at an apples to apples comparison to the Alex Trebek life insurance above.
About 80% or more of you reading this article would more than likely be able to qualify for the full, level benefit life insurance with the right insurance company. This will also save you a lot of money… just by answering a few health questions. No doctors, nurses or needles in your arm. Just a few health questions will also offer better benefits from day 1 of coverage. Use the Final Expense Life Insurance quoting tool on this page. Be sure to select “Excellent Health.” Yes, the plans quoted here are designed for those in less than perfect health.
People age 50-85 are the typical buyers of burial insurance. Most of you will see much lower cost for permanent, whole life insurance with full protection from day 1 of acceptance. The 20% remaining still have more affordable options than Colonial Penn guaranteed acceptance insurance.
Do you have any objection to saving a lot of money and being able to obtain the best policy you qualify for your needs?
Remember, this is better not only for you but your family who will be getting the full death benefit if you pass on in the next 2 years.
Be sure to have the help of an independent professional to sort out the good from the bad on your behalf. Let them evaluate what you qualify for.
Misunderstanding life insurance policy limitations and features combined with the overall costs of ownership are the common mistakes of consumers.
“Life insurance” is not created equal. Having a real professional costs you nothing. It puts you in front of the most benefit rich and affordable final expense plans you can buy. Make sure you have the right product ladies and gentleman.
You can spend weeks calling around different insurance companies and never find the best rates let alone one that you qualify for healthwise if you have a tough medical condition or two. With that said, a good professional agent can quickly give you the same rates you spent weeks or months on and identify which company and product would be best for your needs.
If you decide to buy insurance from an independent agent or broker, the insurance company will pay for their services. Calling Colonial Penn or any other carrier directly versus an independent agent saves you nothing. Your cost does not change whether you have a “middle man” or not. This is the law by the way. Rates are approved by the state, not the insurance company or agent. So, the middle man/advocate is saving you good money by recommending the right coverage for you.
Something to be aware of…
While all insurance companies have a certain amount of complaints against them, Colonial Penn life insurance has a higher than average number complaints against it.
Lots of upset families that did not know the Alex Trebek insurance offering has significant limitations built in.
The limitations are disclosed if you take a close look at the ad and website, but carefully placed to be casually overlooked by those who are focused on the celebrity endorser who’s selling you on the coverage.
I see no dishonesty, but the responsibility is completely shifted onto a trusting senior who just wants affordable peace of mind for their family.
Colonial Penn Life Insurance Reviews – Our Rating
Since the Alex Trebek advertisement focuses on the “guaranteed acceptance” product with no health questions, we are presenting all the facts here so you understand the limitations of this product.
Something I didn’t address thoroughly was the term “rate lock” that is promoted in all the commercials.
With whole life insurance, rate locks for you “whole life” are a standard feature. That is built into the policy. Ultimately, the rate lock Mr. Trebek mentions is a marketing term that is already built into whole life insurance policies for seniors anyway.
The 30 day money back guarantee, well that comes from the state bureau of insurance. Most states require life insurance companies to have a free look, 30 day period to evaluate the policy to decide if they want a refund or not. All insurance companies must follow the free look provision laws.
Again, watch the marketing glitz. Weed it out.
With all that said…
Maple Valley Insurance Group Rating of Colonial Penn Life Insurance Guaranteed Acceptance = “D”
It is not responsible of a life insurance company to recommend products built for generally poor health applicants and market it like it is the affordable final expense solution for seniors. There simply are a lot of better options out there.
The fact is, any kind of guaranteed issue life insurance, regardless of the insurance carrier simply cannot claim this.
Guaranteed acceptance/guaranteed issue whole life is the life insurance product to select after all other no exam, simplified issue whole products have been evaluated with an experienced independent agent or broker. It is not “plan A” or “plan B” for that matter. Every week I take phone calls from people calling to price out final expense life insurance. We frequently replace guaranteed acceptance policies with better benefits and cost policies. Alex Trebek coverage is not a better policy than any other guaranteed acceptance policy from another company.
Buying life insurance in units?
This is not a good way to be transparent about the cost of buying a policy either. No one pays $9.95 a month to protect this family. It simply is not enough burial insurance to cover the costs of death. This needs to changed by Colonial Penn.
This is not how life insurance is typically “priced.” It again appears to be a marketing tactic to distract you into thinking it is very affordable life insurance. Life life insurance is priced based on your age at purchase/approval and how much protection your family needs with a Guaranteed Issue policy like this.
We always recommend working with a professional to see if you qualify for better benefits than this guaranteed issue policy.
Alex Trebek Life Insurance For Seniors – The Conclusion
By now you probably realize I’m not impressed with the Alex Trebek life insurance ad nor the product itself. Coverage is marketed towards trusting seniors that are looking for dependable life insurance to meets the needs of their family. Most people just want the straight scoop without all the games and limitations.
Most people we work with desire the most benefits they can get for the lowest price. This reviewed product is not benefit rich nor priced well.
While some people will only qualify for guaranteed acceptance life insurance, you need to have a professional independent agents analysis before assuming you need it.
Your loved ones could end up in a financial mess because of the 2 year limitation on coverage for natural death. I’m sure you don’t want your loved ones in a mountain of debt by getting caught in limitations of coverage.
The unit system used in this Colonial Penn product penalizes seniors particularly in their 70’s and 80’s. This means that they may not be able to purchase a enough financial protection (death benefits) to ensure their goals are met.
Remember, the average cost of a full funeral is around $10,000 nationally. This does not even count the actual burial costs at the cemetery. Plenty of people have told me they just paid over 10k in funeral costs alone in this past year. We recommend a goal of at least $15,000 to cover these costs. Inflation over time and if your budget allows, 20-25K would be better.
With 2021 we have seen crazy spike prices haven’t we? Funeral and burial costs have been rising for years but 2021 is a reminder that planning for it should be considered in our family planning. Could funeral and burial expenses double in the next decade…a distinct possibility! Be sure to review the rate chart above and see the maximum amount of financial protection that can be bought at your current age with CP.
Do you want to assume and pay more money for coverage because Alex Trebek is paid to endorse it?
Alex Trebek insurance is not particularly affordable if you are doing an apples to apples comparison nor when it is compared to the recommended standard simplified issue, no exam whole life coverage we offer here.
Would you buy a policy that is probably not in your best interest… because it has a paid, Alex Trebek insurance endorsement on it?
Think about it.
Colonial Penn life insurance rates are just not very competitive nor offer the average senior and their family the full benefits of a no exam, medically underwritten whole life policy.
What is the value of overpaying for less benefits?
Weekly I find myself talk to new seniors who were duped into the wrong life insurance product. They bought a term policy that is/was about to expire or bought a “guaranteed acceptance” policy from one of a few life insurance companies that offer them. Folks, take the time and call a professional. Find out what you really qualify for. See if you can qualify based on your overall health for a simplified issue, no exam, medically underwritten plan first. These are designed for people in less than good health typically those age 50-85.
Watch out for other high priced guaranteed issue whole life plans. Take a look at our article on Metlife guaranteed acceptance coverage.
Is Alex Trebek insurance a scam? Absolutely not. For a person who is in a high risk situation, while a bit expensive, it may be a sound solution. You just have to realize $9.95 is a teaser rate to capture interest in the product. It buys you 1 “unit” of their life insurance. The intention is to get you to call up the insurer and just buy the policy. It does not buy very much life insurance protection, period.
So, the Colonial Penn life insurance @ $9.95 per month…
The older you are on the date of purchase, the less that $9.95 per month will buy in real financial protection for your loved ones. Truth is… 99% of the seniors we work with purchase much more protection than this plan can offer.
For those who purchase the coverage…Colonial Penn will pay the claims according to the terms of the policy.
Determining the need for high risk life insurance should be done only with an independent life insurance specialist.
Again, our suggestion…
Never try to sort this out on your own or call a home office of an insurance company like Colonial Penn. You could end up ripped off and/or underinsured. This could be devastating for your family.
The ads you see to buy Colonial Penn, Globe Life or AARP/New York Life etc, are rarely in your best interest. They engage in a numbers game of mass marketing.
Folks, the easier life insurance is to qualify for, the higher the cost of purchasing it. Depending on the type of whole life insurance, it may increase the risk to your family of not receiving the monies you intended just because the wrong policy was purchased.
Do you want to save money and obtain the best benefits available or…
would you prefer to worry for 2 years just so you don’t have to answer a few health questions?
Which one would truly give you and your family the most peace of mind? We only recommend going the Plan A route first.
Sure I’m bit biased myself because I have access to all the top burial insurance companies and plans out there. As a life insurance field underwriter and independent agent/broker I don’t have to rely on Alex Trebek insurance to meet the needs of my clientele either.
At Maple Valley Insurance Group, we don’t put “square pegs in round holes” regardless of the celebrity marketing, nor should you.
Always have an independent, seasoned professional verify your need for any guaranteed issue life insurance before buying.
Because all life insurance companies have different health questions. There may be several companies unable to insure you for immediate, full benefits while another can give you that same coverage very affordably without needing to resort to high risk life insurance such as the Alex Trebek advertisement for senior life insurance. Every week we have people who think they can’t qualify for the best benefits and lower premiums. After a few minutes on the phone, they find out they can easily qualify for a premium policy for a much lower premium than Colonial Penn.
Even if you have been declined elsewhere, don’t lose heart.
About 5-10% of our cases where guaranteed acceptance whole life insurance is truly necessary, we generally recommend the likes of AIG due to their superior offering and lower premiums over Colonial Penn Guaranteed Acceptance.
If you’ve found this article helpful, let us know. We welcome comments below.
Any questions you have, feel free to give us a call at 269-244-3420. We’re here to help.