Have you recently seen a Colonial Penn commercial? You may have seen these commercials online or on TV. The Colonial Penn 995 plans that advertise great coverage for a great price. But is that really the case?
Did you know, with the Colonial Penn plan you do not actually have full coverage? Not for the first two years. How is that possible?
You also may be wondering about the new actor in the Colonial Penn commercials and why was he changed? Is he a Colonial Penn employee? And does he actually know his stuff?
This article will answer those questions and much more! Keep reading!
To get a free quote in minutes call us at 888 626 0439. We at Buy Life Insurance For Burial work with 15 different insurance companies to provide you with as many options as possible. Give us a call and we can put together your best options in a matter of minutes.
Quick Navigation Links:
- Who Is The Actor In The Colonial Penn Commercials?
- Who Is Jonathan Lawson On Colonial Penn Commercials?
- Is Johnathan Lawson A Real Person?
- Why Does Johnathan Do The Commercials?
- Does Jonathan Lawson Actually Work At Colonial Penn?
- What Is The 995 Plan?
- What Are The Fine Print Issues LAwson Doesn’t Mention?
- Is It A Good Deal?
- How Do I Find The Best Life Insurance?
- Helpful Links
Who Is The Actor In The Colonial Penn Commercials?
The current actor in the Colonial Penn commercials is Johnathan Lawson. He goes over Guaranteed Acceptance plans and what Colonial Penn can offer their customers.
To learn more about Johnathan Lawson, who he is, and Colonial Penn’s 995 plan keep reading.
Who Is Jonathan Lawson On Colonial Penn Commercials?
Jonathan is a Colonial Penn employee. He works as a sales manager and has appeared on multiple commercials. He has worked with Colonial Penn for over 15 years helping seniors to get life insurance.
He has helped educate many seniors on their life insurance options. Many seniors are unaware of how little the Social Security Death benefit pays. Johnathan Lawson works with his team at Colonial Penn to educate individuals and help them plan for the future.
Is Johnathan Lawson A Real Person?
Yes, Jonathan Lawson is a real person. He served in the MArine Corps early on and then went to work for Colonial Penn full time. While working at Colonial Penn, he earned his degree. He continues to work with Colonial Penn and represents them in many commercials and TV advertisements.
Why Does Johnathan Do The Commercials?
Jonathan Lawson now appears on Colonial Penn’s commercials because Alex Travek passed away. After Travek passed, Colonial Penn needed a new face for their commercials. Jonathan was chosen to represent the company on their TV commercials.
Does Jonathan Lawson Actually Work At Colonial Penn?
Yes, Jonathan Lawson works for Colonial Penn. You can find his work history on LinkedIn.
What Is The 995 Plan?
The Colonial Penn 995 plan is a Guaranteed Acceptance Plan with a two year waiting period. You pay $9.95 per unit and you can buy up to 12 units. Each unit offers a set amount of coverage.
The amount of coverage you can get depends on your age and gender. There are no health questions asked and your approval is guaranteed.
To learn more about what the plan actually costs, read Colonial Penn Life Insurance Review.
What Are The Fine Print Issues Lawson Doesn’t Mention?
In the commercials Lawson says applicants “cannot be turned down for any health reason,” this means the plan is a Guaranteed Acceptance plan.
You may have heard me talk about this plan before in other articles. Basically, it means you will be accepted no matter your health. BUT, there are some big trade offs to getting this plan and not everyone needs it!
It Costs More
Generally, a Guaranteed Acceptance plan costs more than Whole Life Insurance or Term Life Insurance. Why?
Because the life insurance company is taking on more risk when they do not ask detailed health questions. Therefore, you pay more.
Two Year Wait
The two year wait clause is often found in Guaranteed Life Insurance products.
It means you do not have full coverage for two years (24 months) from the purchase date. So, if you pass from natural causes within those 24 months, your family WILL NOT receive benefits. If you die from accidental causes you will receive the benefits. However, accidental death doesnt include things like disease, infection, suicide, medical treatments, surgery, or mental illness.
Basically, you would have to pass from a freak accident or something. The likelihood of that is very low. According to a CDC study of accidental deaths in the USA, for those over the age of 65 they account for less than 5% of deaths. So… not likely at all!
They might receive the premiums back with a small amount of interest. But they will not get any payout which means they are stuck with covering your funeral and end of life expenses. So you are paying into a plan that will not benefit you in any way for two whole years.
There are many other options when looking at life insurance, I would encourage you to look around at ALL your options before you buy a plan, especially this one!
Is It A Good Deal?
So, is this 995 plan right for you? And is it a good deal? Well, that depends…
Do you have very bad health? Are you regularly hospitalized, or have you had trouble being accepted by other insurance companies for medical reasons?
If you answer yes to any of those questions a guaranteed acceptance policy is the right choice for you specifically.
BUT! There are many companies that offer this kind of policy. Colonial Penn is by no means your only option. With their limited coverage level and confusing pricing, I wouldn’t necessarily suggest this option.
Colonial Penn’s pricing is misleading. Its a $9.95 per unit plan. Each unit has a certain amount of coverage. So if you want good coverage, you need to buy multiple units, manybe 6, 9, or 12 units.
So do the math, 9.95 times 12. That comes to $119.40. So your health insurance does not actually cost $9.95. It costs significantly higher!
So, what should you do next? To learn more about the options available to you, give me a call at 888 626 0439. Working with an agent would no doubt make the process simpler and faster. Contact us to get a free quote and learn more about your options.
How Do I Find The Best Life Insurance?
The best life insurance policy is different for each person. The way to find the best policy for you specifically is to compare, compare again, and compare one last time.
You need to look at as many options as you possibly can. Now this can take days or weeks of research! I would know.
Or you could work with an independent agent such as myself. I work with over 15 different life insurance companies. I compare all my clients options and explain any fine print issues and wording. To learn more about the options available to you, give me a call at 888 626 0439.
- Johnathan Lawson’s Linkedin profile.
- Read my Colonial Penn review.
- Watch this overview of Colonial Penn’s Guaranteed Acceptance plan and why it may not be thes best choice for you.
- Take a look at my 5 minute review of Colonial Penn life insurance. Colonial Penn Life Insurance Review
- Watch my brief review of Colonial Penn whole life insurance. Learn a shocking truth I am sure you weren’t aware of! Watch the 5 minute video below.
- Take a look at this two and a half minute video to get the facts on Colonial Penn.
- Learn more about Colonial Penn’s burial insurance products. Watch this 4 minute and 45 second video. Colonial Penn – The Truth About The Company’s Burial Insurance Product
- Take a look at a brief review of Johnathan Lawson and his career. Watch a video. Click the link below. Colonial Penn TV Spot, ‘Who Is Jonathan Lawson?’ – iSpot.tv
- Take a look at this article which goes over the issues with the plan offered by Colonial Penn. Click the link below. Colonial Penn’s ‘Whole Life Insurance’ – Truth in Advertising