Are you considering life insurance for yourself or a loved one over the age of 50?
If so, you may have heard of Jonathan Lawson and his Colonial Penn life insurance policy. In this article, we’ll be taking an in-depth look at the Jonathan Lawson $9.95 Plan and discussing its pros and cons.
Plan to learn more about the plan’s pros, cons, and if it is a smart choice, financially.
We’ll also be exploring better options than the Jonathan Lawson $9.95 Plan, to help you make an informed decision about your life insurance needs.
Table of Contents:
- Who Is Jonathan Lawson?
- Colonial Penn Life Insurance Company Overview
- What Is the Jonathan Lawson $9.95 Plan?
- Pros and Cons of the Jonathan Lawson $9.95 Plan
- Better Options Than the Jonathan Lawson $9.95 Plan
- FAQs in Relation to Jonathan Lawson Colonial Penn Review
- Next Steps
Who Is Jonathan Lawson?
Jonathan Lawson is a well-known figure in the life insurance industry. He has been featured on television, radio and other media outlets for his expertise in the field of guaranteed issue life insurance.
Jonathan Lawson is employed by Colonial Penn as a Director of Quality Assurance and Escalations. Colonial Penn specializes in helping seniors and baby boomers find life insurance coverage.
Jonathan Lawson’s mission
Through his employer, Colonial Penn, Lawson’s mission is to make sure every senior can get life insurance protection on a budget, without worrying about being denied due to age or pre-existing conditions.
In other words, he works to sell a form of guaranteed issue life insurance specifically sold by Colonial Penn to seniors.
His commercials are convincing. But, is the life insurance product of high-value? Let’s unpack the details.
Key Takeaway: Jonathan Lawson is employed full time by Colonial Penn and is the new face of their commercials for guaranteed issue life insurance.
Colonial Penn Life Insurance Company Overview
Colonial Penn Life Insurance Company specializes in helping those over the age of 50 who are looking for a life insurance policy.
Founded in 1968, this company offers guaranteed issue whole life insurance policies to seniors and baby boomers who are seeking coverage without having to go through medical exams or answer health questions.
Colonial Penn is owned by CNO Financial Group, Inc., which has been providing financial services since 1979. The company is rated A- (Excellent) by A.M Best and holds an A+ rating from the Better Business Bureau.
The main product offered by Colonial Penn is its Guaranteed Acceptance Whole Life Insurance policy, which provides coverage for those between ages 50 and 85 years old at the time of application with no medical exam required.
This type of policy also features level premiums that never increase as long as you keep your payments current, plus cash value accumulation that allows you to borrow against your policy if needed down the road.
In addition to offering life insurance products directly through its website or call center agents, Colonial Penn also works with independent agents across the country who can help provide quotes and advice on selecting a suitable plan for each individual customer’s needs.
It’s important to note that while these plans do not require any medical underwriting during application process, they do have limitations such as two year waiting period before death benefits will be paid out due to natural causes (accidental death benefit will pay out immediately).
Overall, Colonial Penn Life Insurance Company offers an easy way for seniors and baby boomers alike to obtain life insurance coverage without having to worry about going through lengthy medical exams or answering invasive health questions during the application process.
However, the value of the policy for the money spent needs to be carefully analyzed.
Key Takeaway: Colonial Penn Life Insurance Company offers guaranteed issue life insurance to seniors and baby boomers. The company is rated A- (Excellent) by A.M Best and holds an A+ rating from the Better Business Bureau.
What Is the Jonathan Lawson $9.95 Plan?
You may have heard about the Jonathan Lawson $9.95 Plan on the radio or television.
This is a guaranteed issue life insurance policy that offers coverage to seniors and baby boomers without any medical exams or health questions.
As mentioned previously, the Jonathan Lawson $9.95 Plan is offered by Colonial Penn Life Insurance Company.
The company specializes in offering low-cost term life insurance plans with no medical exam required for those who are over the age of 50.
The plan itself provides death benefit protection through units of coverage.
What does a unit of coverage mean?
Everyone, up to age 85, qualifies for the ability to buy a unit of coverage. However, the value of each unit is dependent on your age and under.
While it can be a godsend to qualify for coverage regardless of your health status, you need to know that the amount of coverage provided for each unit is often meager, unsubstantial, and inadequate.
Key Takeaway: The Jonathan Lawson $9.95 Plan is affordable and easy to obtain. Each insurance unit costs $9.95. But beware, the value of each unit of coverage varies, and is often modest.
Pros and Cons of the Jonathan Lawson $9.95 Plan
This is a guaranteed issue policy that offers a modest amount of life insurance coverage ($25,000 or less) with no medical exam or health questions required.
It sounds like an ideal solution for seniors who want peace of mind but don’t want to go through the hassle of applying for traditional life insurance policies.
However, it’s important to understand both the pros and cons of this type of policy before making a decision on whether or not it’s right for you.
Consider the follwing key points when evaluating the Jonathan Lawson $9.95 plan.
- No Medical Exam Required – As mentioned above, there is no medical exam or health questions required in order to qualify for this policy so anyone over 50 can apply without having to worry about their current state of health affecting their eligibility status.
- Low Premiums – The premiums associated with this type of policy are low compared to other types of life insurance policies available on the market today which makes them more affordable than most other options out there.
- Flexible Coverage Options – You can choose from several different coverage amounts up to $25,000, depending on your age, gender, and budget.
- Fast Approval Process – Underwriting is simple and approval happens almost immediately.
- Expensive Cost For Value – Colonial Penn’s $9.95 Plan costs a lot of money for the face amounts you can qualify for. Cheaper options are available.
- Limited Benefits – Because there is no medical exam required in order get approved for this type of policy, insurers substantially limit face amounts, as opposed to traditional life insurance policies.
- Waiting Period – All guaranteed issue life insurance policies require a waiting period before the full death benefit will pay, typically for two years.
- Modest Cash Value – Unlike other permanent life insurance products, these types policies do not offer much cash value accumulation over time, because the face amounts are small.
All things considered, the Jonathan Lawson $9.95 Plan is easy to qualify for, but is expensive compared to similar guaranteed issue policies offered by other life insurance carriers.
Key Takeaway: It’s important to consider both the pros and cons before making a decision as this type of policy has limited benefits.
Better Options Than the Jonathan Lawson $9.95 Plan
Is the Jonathan Lawson $9.95 plan your best option?
The truth is that there are many other options available to seniors and baby boomers that offer better coverage at a lower cost.
Here are five better options than the Jonathan Lawson $9.95 Plan.
1. Guaranteed issue life insurance from another carrier
If you do not qualify for other forms of life insurance, due to serious medical problems, definitely look into guaranteed life insurance. Just evaluate other policies from top-rated carriers.
Likely, you will find that your premium cost will be lower and your face amount higher – by shopping around.
2. Simplified Issue Life Insurance
If you’re looking for more comprehensive coverage than what’s offered by guaranteed issue policies, and you can qualify for coverage, simplified issue life insurance could be a great choice for you.
These plans typically require some basic health questions but don’t require an exam or lab tests like traditional plans do; they also provide higher levels of coverage (up to $500,000) with competitive rates starting around $20 per month depending on your age and gender.
3. Final Expense Policies
Final expense policies are designed specifically to cover funeral costs so that loved ones aren’t left with this financial burden after death; these plans typically range from $5,000-$25,000 in coverage.
Premiums start at just a few dollars per month depending on your age and gender.
In addition, if you can pass the health questions, your policy likely won’t have a waiting period until the full death benefit is paid out (as is the case with guaranteed issue).
4. Term Life Insurance
Term life insurance provides protection over a set period of time (typically 10-30 years).
It offers high levels of protection (up to millions) at relatively low monthly premiums, compared to other types of life insurance.
However it does not build cash value, like whole life insurance does – so make sure this fits into your long term goals before committing.
5. Whole Life Insurance
Whole life Insurance provides lifelong protection, along with tax advantages, and potential cash value accumulation over time. The cash value can be used towards retirement planning or other needs later in life.
However, these policies tend to have higher monthly premiums than term policies.
No matter what type of policy you choose, always compare quotes from multiple providers before making a decision—this will help ensure that you get the best rate possible while still finding adequate protection for yourself and loved ones.
While the Jonathan Lawson $9.95 plan may seem like a good deal, there are better options out there that can provide more comprehensive coverage at a lower cost.
Be sure to compare quotes from multiple providers before making your decision so you can get the best rate possible while still finding adequate protection for yourself &/or loved ones!
Key Takeaway: When looking for life insurance coverage, seniors and baby boomers should compare quotes from multiple providers to get the best rate possible. There are many options available that offer better coverage than the Jonathan Lawson $9.95 Plan.
FAQs in Relation to Jonathan Lawson Colonial Penn Review
Here, we cover the most commonly asked question’s about Jonathan Lawson’s $9.95 life insurance plan.
Does Jonathan Lawson actually work for Colonial Penn?
Yes, Jonathan Lawson is a real person and he does work for Colonial Penn.
He is the company’s spokesperson and has been featured in their television commercials after Alex Trebek’s passing. He also appears on their website as an ambassador for the company.
Who is Jonathan in the Colonial Penn commercial?
Jonathan Lawson represents himself as an insurance expert and explains how easy it was to purchase a policy. He focuses on the three Ps: Price, Price, and Price.
In other words, the commercial highlights that everyone pays the same $9.95 per unit of coverage.
What is not highlighted, however, is the fact that the amount of coverage the $9.95 buys varies drastically based on your age and gender.
His story resonates with many viewers, as it provides reassurance that they too can purchase life insurance without having to worry about being denied due to their age or health condition, but fails to go over the fine print of how much coverage is actually available.
Is Colonial Penn really worth it?
Colonial Penn is a life insurance provider that offers guaranteed issue policies to seniors and baby boomers.
These policies are designed to provide coverage without the need for medical exams or health questions, making them an attractive option for those who may not qualify for traditional life insurance.
Colonial Penn’s rates are typically higher than other providers.
It’s important to compare quotes from different companies before committing to any policy so you can get the best rate possible.
Additionally, reading reviews from customers can help you make an informed decision about whether or not Colonial Penn is right for your needs.
The Jonathan Lawson $9.95 Plan from Colonial Penn Life Insurance Company is one option for seniors and baby boomers looking for guaranteed issue life insurance coverage.
However, it’s important to weigh the pros and cons of this plan before making a decision as there may be better choices available – depending on your individual needs.
Be sure to do your research and read reviews such as this Jonathan Lawson Colonial Penn Review before committing to any policy – so you can make an informed decision.
Are you looking for a life insurance policy that offers guaranteed acceptance without the hassle of medical exams or health questions? Look no further than Guaranteed Issue Life Insurance. With our comprehensive education, quotes and reviews, you can find the perfect policy to fit your needs.