Guaranteed Acceptance Life Insurance
Colonial Penn offers Guaranteed Acceptance Life Insurance to people ages 50 -85 (most states). This type of insurance is also referred to as Guaranteed Issue Life Insurance or Final Expense Life Insurance. It is sometimes called Burial Insurance because it can be used to help cover burial costs. Guaranteed Acceptance life insurance plans do not require you to answer any health questions or take a physical exam – so you cannot be turned down due to your health. This type of life insurance is designed to enable people who may have health issues and are not eligible for other types of life insurance to get protection to help cover final expenses.
Colonial Penn’s Guaranteed Acceptance Life is simple, affordable, permanent life insurance that can be used to help cover items like funeral expenses, unpaid medical bills, credit card debt, outstanding loans, or other expenses. Since the cost of a funeral and related final expenses continues to rise, some people purchase this coverage as supplemental life insurance to avoid being underinsured, even if they already have other life insurance.
Because this is permanent, whole life insurance it provides lifetime protection, and the premium will not increase over time. So your coverage can be there to help cover your final expenses when your loved ones need it, and you will always know how to budget for this life insurance.
Since there are no health questions, Guaranteed Issue Life Insurance plans typically include a limited benefit period. With this Colonial Penn plan, if death occurs during the first two years, in most states the policy will return the premiums paid plus interest. This allows the company to guarantee your acceptance regardless of your health. The limited benefit amount varies in some states, so be sure to check for specific details of the plan available in your state.
To get an instant quote for Colonial Penn’s Guaranteed Acceptance Life Insurance plan click here.