Colonial Penn Burial Insurance Review [2025 Update]

Planning for end-of-life expenses is a responsible and caring step to protect your loved ones from financial burdens during a difficult time. You’ve likely seen advertisements for burial insurance, perhaps specifically mentioning the Colonial Penn life insurance funeral plan, often associated with its famous spokespeople and the promise of affordable coverage. Many people search for terms like colonial penn quote or burial insurance colonial penn looking for straightforward answers.

But is the widely advertised Colonial Penn burial policy the right choice for you? Understanding the details of their specific offerings, particularly their popular guaranteed acceptance plan sold in “units,” is crucial before making a decision. More importantly, it’s vital to realize that the insurance landscape is vast, and the policy heavily marketed by one company might not be the best fit or the best value available for your unique situation.

This is where understanding your options becomes paramount. This article provides an updated look at Colonial Penn’s burial insurance offerings for 2025. We’ll delve into how their plans work, their potential drawbacks, and why comparing multiple carriers is essential. We’ll also introduce Insurance By Heroes – an independent insurance agency with a unique perspective. Founded by a former first responder and military spouse, and staffed by professionals who often share backgrounds in public service, we understand the importance of reliable protection. Our mission isn’t just to sell a policy; it’s to help you navigate the market and find the coverage that truly serves your needs by comparing dozens of top-rated insurance companies.

What Exactly is Burial Insurance?

Before diving into specific company offerings, let’s clarify what burial insurance is. Also known as final expense insurance or funeral insurance, it’s typically a type of whole life insurance policy designed with a specific purpose: to cover the costs associated with your death.

These costs can include:

• Funeral home services (viewing, burial, cremation)
• Casket or urn
• Cemetery plot or cremation niche
• Headstone or grave marker
• Minister or officiant fees
• Transportation
• Flowers
• Obituaries
• Outstanding medical bills
• Legal fees
• Small debts (credit cards, etc.)

Key characteristics of burial insurance usually include:

• Smaller Face Amounts: Unlike traditional life insurance policies designed for income replacement, burial insurance policies typically have lower coverage amounts, often ranging from $5,000 to $25,000, though sometimes up to $50,000 or slightly more. The goal is to cover final expenses, not necessarily provide long-term financial support for beneficiaries.
• Simplified Underwriting or Guaranteed Acceptance: Many burial policies feature simplified underwriting, meaning you answer health questions but usually don’t need a medical exam. Some, like one prominent Colonial Penn offering, are “guaranteed acceptance,” meaning you cannot be turned down due to health. However, this ease of approval often comes with trade-offs, like higher premiums or waiting periods.
• Whole Life Structure: Most burial insurance is whole life insurance. This means the coverage lasts for your entire life (as long as premiums are paid), the premiums typically remain level (don’t increase with age), and the policy builds cash value over time, which you might be able to borrow against.

Understanding these basics helps put specific products, like those from Colonial Penn, into context and allows for better comparison with alternatives available through independent agencies like Insurance By Heroes.

Understanding Colonial Penn Life Insurance Company

Colonial Penn Life Insurance Company has been operating for decades and is a well-recognized name, largely due to its extensive direct-to-consumer advertising campaigns, particularly on television targeting seniors. Many associate the company with former long-time spokesperson Alex Trebek and now Jonathan Lawson, focusing on plans often advertised for a seemingly low price, like $9.95 per month.

They specialize primarily in life insurance products aimed at older individuals, with a strong emphasis on their guaranteed acceptance whole life insurance designed to cover final expenses. Their marketing often highlights ease of application and acceptance regardless of health, which appeals to those concerned about qualifying for traditional insurance.

While brand recognition is high, it’s crucial to look beyond the commercials and understand the specifics of the policies offered, especially the structure, cost-effectiveness, and limitations. A familiar name doesn’t automatically equate to the best value or the most suitable coverage for everyone. That’s why exploring the market is so important – a task made simpler by partnering with an independent agency like Insurance By Heroes, which isn’t limited to a single company’s products.

Colonial Penn Burial Insurance Plans: The Details

When people search for colonial penn life insurance burial or colonial penn burial policy, they are typically encountering one primary product heavily marketed for this purpose:

Guaranteed Acceptance Whole Life Insurance (The “$9.95 Plan”)

This is Colonial Penn’s flagship offering for seniors seeking burial coverage. Here’s a breakdown of its key features and considerations:

• Guaranteed Acceptance: As the name suggests, you cannot be denied coverage based on your health history. There are no health questions to answer and no medical exam required. This is the main selling point for individuals with significant health issues who fear they won’t qualify elsewhere.
• The “Unit” System: This is perhaps the most unique and often confusing aspect. Instead of quoting a specific death benefit amount for a set premium, Colonial Penn sells coverage in “units.” A single unit typically costs $9.95 per month (prices may vary slightly by state or over time). The *amount* of life insurance coverage that one unit purchases depends entirely on your age, gender, and state at the time of application.
• Coverage Amount per Unit: Crucially, the older you are when you apply, the *less* coverage each $9.95 unit buys. A 55-year-old male might get significantly more coverage per unit than an 75-year-old male for the same $9.95 monthly premium. You typically don’t know the exact death benefit until you go through the application process and receive the policy details. You can purchase multiple units (up to a limit, often around 12-15 units) to reach a desired total coverage amount.
• Limited Benefit Period: This is a critical feature of most guaranteed acceptance life insurance policies, including Colonial Penn’s. There is typically a **two-year waiting period** from the policy issue date. If the insured person dies from natural causes (illness or disease) during the first two years, the beneficiaries do not receive the full face amount (death benefit). Instead, they typically receive a return of the premiums paid, possibly with some interest (e.g., 7-10%). Death due to an accident is usually covered for the full face amount from day one. After the two-year period, the full death benefit is paid for death from any cause.
• Whole Life Benefits: As a whole life policy, coverage lasts your lifetime (as long as premiums are paid), premiums are designed to stay level, and it builds cash value.

Potential Drawbacks of the Unit System and Waiting Period:

The unit system lacks transparency compared to standard insurance quotes where you ask for, say, $10,000 in coverage and receive a premium quote for that specific amount. With units, you lock in a premium ($9.95 per unit) but the actual benefit isn’t immediately clear and can be surprisingly low, especially for older applicants.

The two-year waiting period means the policy doesn’t provide immediate full protection for the most common causes of death (natural causes) during that initial timeframe. If your primary goal is immediate peace of mind that funeral costs are fully covered no matter what, this limitation is a significant factor.

Why Comparison Matters Here: While guaranteed acceptance is necessary for some, many individuals, even those with health conditions, might qualify for “simplified issue” policies from other carriers. These policies involve answering some health questions but often skip the medical exam. If you can qualify, simplified issue policies typically offer:

• More coverage for the same premium compared to guaranteed acceptance.
• Immediate full death benefit coverage from day one (no two-year waiting period).
• Clear quotes for specific coverage amounts (e.g., $15,000 for $X per month).

This is precisely why working with Insurance By Heroes is advantageous. We help you determine if you might qualify for these potentially better-value options *before* you settle for a guaranteed acceptance plan. We have access to numerous carriers specializing in final expense insurance, offering both guaranteed acceptance and simplified issue plans, allowing us to find the most coverage for the lowest possible premium based on your actual health profile.

Other Potential Colonial Penn Offerings

While the guaranteed acceptance plan is their most advertised burial solution, Colonial Penn may also offer permanent whole life insurance that involves some health questions (underwriting). If available, these plans might offer higher coverage amounts or potentially better rates than the unit-based guaranteed acceptance plan for healthier individuals. However, their marketing heavily pushes the guaranteed acceptance route.

It’s also worth noting that many searches involve terms like mycolonialpenn or colonialpenn com quote. The `mycolonialpenn` portal is generally for existing policyholders to manage their accounts. While you can often start the process for a colonial penn quote on their website, remember this only provides information from one company.

Regardless of the specific Colonial Penn plan, the core principle remains: it represents only one option among many. An independent agency like Insurance By Heroes provides the essential service of comparing that option against dozens of others, ensuring you understand the full spectrum of possibilities.

Analyzing the Colonial Penn $9.95 Unit Plan: Is It Good Value?

Let’s dig deeper into the value proposition of the Colonial Penn guaranteed acceptance plan sold in $9.95 units.

The Problem with “Units” Instead of Dollars

Imagine buying gasoline not by the gallon, but in “$10 increments,” where the amount of gas you get for $10 changes based on your age and gender when you pull up to the pump. That’s analogous to Colonial Penn’s unit system. It makes direct comparison difficult.

Most insurance companies quote based on a requested death benefit. You ask for $15,000, they tell you the monthly premium based on your age, gender, health classification, etc. This transparency allows for easy comparison between carriers. With the unit system, you’re comparing a fixed premium ($9.95) for a variable, often initially unknown, amount of coverage. This lack of upfront clarity on the death benefit per dollar spent is a significant disadvantage for consumers trying to shop effectively.

Cost vs. Coverage Amount

Because the coverage per unit decreases as you age, the cost-effectiveness of the Colonial Penn plan diminishes significantly for older applicants. For example (these are illustrative, actual amounts vary):

• A 55-year-old male might get $1,500-$1,800 in coverage per unit ($9.95/month).
• An 75-year-old male might only get $500-$700 in coverage per unit ($9.95/month).
• An 80-year-old female might get even less per unit.

To get a modest $10,000 death benefit, the 75-year-old male in this example might need 14-20 units, costing $139.30 – $199.00 per month. For the same $10,000 benefit, healthier individuals of the same age might find simplified issue policies from other carriers (available through Insurance By Heroes) for considerably less per month, *and* with immediate full coverage.

Guaranteed acceptance policies are almost always more expensive per thousand dollars of coverage than policies requiring some health information because the insurer takes on unknown risk. They assume a pool of less healthy applicants and price accordingly.

The Impact of the Two-Year Waiting Period

This cannot be overstated. If the primary reason for buying burial insurance is to ensure funds are available immediately upon death to cover funeral expenses, a policy with a two-year waiting period for natural causes might not align with that goal. If death occurs from illness in month 23, the family receives only the premiums paid back, not the intended death benefit to pay the funeral home. Many simplified issue policies available through comparison shopping offer full coverage from day one.

Who Might Consider the Colonial Penn Plan?

Given the cost structure and waiting period, the Colonial Penn guaranteed acceptance plan is typically most suitable for individuals who:

• Have serious health conditions that disqualify them from other types of life insurance.
• Understand and accept the two-year limited benefit period.
• Prioritize guaranteed approval over cost-effectiveness or immediate full coverage.
• Have explored other options and found this to be their only choice.

However, it’s crucial to exhaust other possibilities first. Don’t assume you won’t qualify for a better policy elsewhere. Many conditions that people believe are uninsurable might still be accepted by certain carriers offering simplified issue plans. This is where the expertise of Insurance By Heroes becomes invaluable. Our team, rooted in backgrounds of service and care, navigates the complexities of underwriting across multiple companies to find the best possible option you *can* qualify for.

The Critical Importance of Comparing Burial Insurance Quotes

Choosing burial insurance isn’t like picking a commodity off a shelf. Policies, pricing, and qualification criteria vary dramatically from one insurance company to another. Relying solely on advertisements or getting a single colonial penn quote without exploring alternatives can lead to paying more than necessary or getting less suitable coverage.

Why Rates Differ So Much

Insurance companies use different “underwriting guidelines” to assess risk and set premiums. Factors influencing your rate include:

• Age: Premiums generally increase with age at application.
• Gender: Statistically, women live longer, so they often pay slightly lower premiums than men of the same age.
• Health Status: This is a major factor. Even minor health conditions can place you in different risk classes with different carriers. Some companies are more lenient with specific conditions (like diabetes or high blood pressure) than others.
• Tobacco Use: Smokers pay significantly higher premiums than non-smokers.
• Coverage Amount: Higher death benefits naturally mean higher premiums.
• Policy Type: Guaranteed acceptance policies are priced higher than simplified issue or fully underwritten policies due to the assumed risk.
• State of Residence: Regulations and market conditions can cause rate variations by state.

Because each company weighs these factors differently, the insurer that’s cheapest for your neighbor might not be the cheapest for you.

Understanding Underwriting Types

• Guaranteed Issue (GI): No health questions, no exam (e.g., Colonial Penn’s unit plan). Easiest to qualify for, but highest cost and usually includes a waiting period.
• Simplified Issue (SI): Some health questions, no medical exam. Offers a balance between ease of application and better pricing/features than GI. Many people with managed health conditions can qualify. Often provides immediate coverage.
• Fully Underwritten: Extensive health questions, medical exam typically required. Offers the best potential rates for healthy individuals but takes longer to approve. Usually used for larger face amount policies, less common for typical burial insurance amounts but still an option.

You might qualify for a better category than you think!

Policy Features Beyond Price

Comparison isn’t just about the monthly premium. Consider:

• Waiting Periods: Does the policy pay the full benefit from day one, or is there a two or three-year limit for non-accidental death?
• Premium Guarantees: Are premiums guaranteed level for life? (Most whole life burial policies offer this).
• Company Ratings: Is the insurer financially stable? (Look for ratings from A.M. Best, S&P, etc.).
• Riders: Are optional benefits available, like an Accelerated Death Benefit rider (allows access to funds if diagnosed with a terminal illness)?
• Cash Value Growth: How does the policy’s cash value accumulate?

Insurance By Heroes: Your Partner in Comparison

Navigating these variables across dozens of companies is overwhelming. That’s the value Insurance By Heroes provides. As an independent agency, we aren’t beholden to Colonial Penn or any other single carrier. Our allegiance is to you, our client.

Our foundation, built by a former first responder and military spouse, instills a deep understanding of the need for dependable protection. Our team, many sharing similar service backgrounds, works diligently to:

• Understand your specific needs and budget.
• Ask the right questions (sensitively) to assess your eligibility for different underwriting classes.
• Access and compare quotes from a wide network of highly-rated final expense insurance carriers.
• Explain the pros and cons of each option clearly (e.g., comparing a Colonial Penn quote against several alternatives).
• Help you find the policy that offers the best combination of coverage, price, and features you qualify for.

We do the legwork, saving you time and potentially significant money, while ensuring you get coverage that truly meets your objectives.

How Insurance By Heroes Helps You Find the Right Coverage

Working with Insurance By Heroes is a straightforward process designed to put your needs first and simplify the task of finding the best burial insurance.

Step 1: Reach Out for a Free Quote.
It starts when you fill out the simple, secure quote request form on our website. There’s no obligation, and your information is kept confidential.

Step 2: Personalized Consultation.
One of our licensed agents – professionals who understand the importance of service and protection, often coming from backgrounds like first responders, military families, or educators – will contact you. This isn’t a high-pressure sales call. It’s a conversation to understand:

• Your goals for the insurance (covering funeral costs, leaving a small legacy, etc.).
• Your desired coverage amount.
• Your budget for premiums.
• Basic health information (discussed sensitively and respectfully) to determine potential eligibility for different policy types.

Step 3: We Shop the Market For You.
Armed with this information, your agent accesses our network of dozens of top-rated insurance carriers specializing in final expense and burial insurance. We input your details (anonymously where possible initially) to gather real quotes based on your profile.

Step 4: Presenting Your Options.
Your agent will then present you with the best options available *to you*. This isn’t just a list of prices. We’ll explain:

• The coverage amount and premium for each policy.
• Whether the policy is guaranteed acceptance or simplified issue.
• Whether there is a waiting period or if coverage is immediate.
• The financial strength ratings of the insurance companies.
• Any key differences in policy features or available riders.
• How these options compare to heavily advertised plans like those from Colonial Penn.

Step 5: Guidance and Application Assistance.
We answer all your questions, ensuring you fully understand the choices. If you decide to proceed with a policy, we guide you through the application process, making it as smooth and easy as possible. We advocate for you with the insurance company if any issues arise.

The benefit? You get expert, unbiased advice tailored to your situation. Instead of navigating the complex insurance world alone or settling for the only option presented by a single company’s advertising, you gain access to a broad market comparison, increasing your chances of finding superior coverage at a competitive price. Our commitment, rooted in our founders’ first responder and military family experience, is to serve you with integrity and find the protection your family deserves.

Alternatives to Colonial Penn Available Through Insurance By Heroes

While Colonial Penn offers a guaranteed acceptance option, it’s just one piece of the puzzle. Insurance By Heroes partners with numerous other respected carriers, providing access to a wider array of potentially more suitable and affordable final expense solutions.

We work with companies that excel in different areas, allowing us to match clients with the best fit:

• Companies with Competitive Simplified Issue Rates: Many insurers offer excellent pricing on simplified issue policies for individuals in relatively good health or with common, well-managed conditions (like high blood pressure, cholesterol, controlled diabetes). These often provide immediate coverage and better value than guaranteed issue.
• Carriers Lenient with Specific Health Conditions: Some insurers are known for more favorable underwriting regarding certain health issues (e.g., COPD, past heart conditions, diabetic complications). We know which companies tend to be more accepting of particular histories.
• Insurers Offering Higher Coverage Amounts: If you need more than the typical $15,000-$25,000, some carriers specialize in simplified issue final expense policies up to $50,000 or more.
• Top-Rated Guaranteed Issue Options (If Necessary): If guaranteed acceptance truly is the only option due to severe health problems, we still compare different GI policies. While all have waiting periods and higher costs, pricing and specific terms (like interest paid on returned premiums during the waiting period) can still vary between carriers. We aim to find the best available GI policy, which may or may not be Colonial Penn.
• Companies with Strong Financial Ratings: We prioritize placing clients with insurers demonstrating excellent financial stability (e.g., A.M. Best ratings of A- or higher), ensuring the company will be there to pay the claim when needed.

The key benefit of these alternatives often includes:

• Potentially Lower Premiums: Especially if you qualify for simplified issue.
• Immediate Full Death Benefit: No two-year waiting period for natural causes with most simplified issue plans.
• Clear Coverage Amounts: Quotes provided for specific dollar amounts ($10k, $15k, $20k, etc.), not confusing “units.”
• More Flexible Underwriting Niches: Better chances of approval even with some health history, depending on the carrier.

By leveraging our access to this diverse market, Insurance By Heroes ensures you aren’t limited to the narrow scope of one heavily advertised brand. We empower you with choices, explaining why one policy might be superior to another *for you*. Remember, the ‘best’ colonial penn burial policy isn’t necessarily the best burial policy overall – comparison is key.

Common Questions About Colonial Penn Burial Insurance

Let’s address some frequent questions that arise when researching Colonial Penn’s final expense options:

How much coverage can I really get with the $9.95 Colonial Penn plan?
This is the trickiest question due to the unit system. One unit costs $9.95/month, but the death benefit that unit buys decreases significantly as you age. It also varies by gender and state. You might get $1,800 at age 50, but only $600 at age 75 per unit. You need to go through their application process to find out the exact coverage for your specific age and the number of units you purchase.

Do I need a medical exam for Colonial Penn burial insurance?
For their widely advertised Guaranteed Acceptance Whole Life plan (the unit plan), no medical exam is required, and there are no health questions asked.

Will my Colonial Penn premium increase as I get older?
For their whole life policies, the premium rate is typically locked in based on your age *at the time you purchase the policy*. It should not increase as you get older, as long as you continue to pay the premiums.

What happens if I die within the first two years of getting the Colonial Penn guaranteed acceptance policy?
If death occurs due to natural causes (illness, disease) during the first two years, your beneficiary will generally receive a return of all premiums paid, plus a small amount of interest (often around 7-10%). They will *not* receive the full policy face amount. If death is due to an accident, the full death benefit is typically paid from day one.

Can I get a colonial penn quote online?
Yes, you can typically start the quote process on the colonialpenn com quote section of their website. However, remember this will only give you information on Colonial Penn’s products. For a market comparison, you need to work with an independent agency like Insurance By Heroes.

Is the mycolonialpenn website for getting quotes?
The mycolonialpenn portal is primarily for existing customers to manage their accounts, pay bills, view policy details, etc. While it might link to quote tools, its main function is account management.

Is burial insurance colonial penn my only option if I have health problems?
Absolutely not. While Colonial Penn’s guaranteed acceptance plan is an option for those with severe health issues, many other carriers offer simplified issue policies that accept individuals with various managed health conditions. Often, these provide better value and immediate coverage. Insurance By Heroes specializes in navigating these options to see if you qualify for something better before resorting to guaranteed issue.

Conclusion: Make an Informed Choice for Your Final Expenses

Colonial Penn offers a highly visible guaranteed acceptance burial insurance option that appeals to those seeking easy qualification. Their $9.95 unit system and associated advertising have made them a household name. However, as we’ve detailed, this plan comes with significant considerations: the coverage amount per unit decreases with age, making it potentially expensive for the benefit received, and the two-year waiting period for full benefits on natural causes can undermine the goal of immediate financial protection for your loved ones.

While the Colonial Penn life insurance funeral plan might be a necessary choice for a small segment of the population with severe health issues, it should rarely be the *first* or *only* option considered. The insurance market offers a wide range of final expense policies, including many simplified issue plans that provide immediate coverage and potentially much better value, even for individuals with common health conditions.

The key takeaway is the power of comparison. Don’t let advertising be your only guide. Understand the policy details, weigh the pros and cons, and most importantly, explore multiple options from different carriers.

This is where Insurance By Heroes stands ready to assist. Founded by a former first responder and military spouse, and operated by professionals who understand the value of reliable protection and service, we are your independent advocates. We work for *you*, not for any single insurance company. We leverage our access to dozens of top-rated carriers to shop the market, comparing rates, underwriting guidelines, and policy features to find the final expense insurance that best fits your unique needs, health profile, and budget.

Take Control of Your Planning Today

Ensure your final wishes are honored without leaving a financial burden on your family. Make an informed decision based on a clear comparison of your options. The dedicated team at Insurance By Heroes is here to provide clarity and help you secure the peace of mind you deserve.

Ready to see how much you could save and potentially get better coverage? Fill out our simple, secure quote form right now. Get your free, no-obligation burial insurance comparison from Insurance By Heroes today and let us help you find the right protection for your loved ones.