Whole Life Insurance
Whole life insurance is the most common type of permanent life insurance, also known as traditional life insurance. With whole life insurance a death benefit is paid to a policyholder’s beneficiary.
What is Permanent Whole Life Insurance?
Permanent Whole Life Insurance provides coverage for the life of the insured. These life insurance policies are also known as “traditional.” Permanent Whole Life Insurance is paid out to a beneficiary or beneficiaries upon the policyholder’s death provided that the premium payments were maintained.
Common uses for Permanent Whole Life Insurance
- Cash for loved ones when they may need it most
- Outstanding debt left behind by the insured
Permanent Whole Life Insurance from Colonial Penn
Colonial Penn’s whole life insurance offers the security of lifetime coverage; it’s permanent protection that doesn’t require medical exams. Answer some simple questions on your application which will help us determine your eligibility. With our Permanent Whole Life Insurance plan, your premium is locked in for life. Your rate will never go up.
Our Permanent Whole Life Insurance Plan offers permanent, lifelong protection to individuals ages 40–75 (in most states). Now with optional living benefits for cancer, heart attack or stroke, or critical illness.
No medical exam
This is permanent, whole life insurance with no medical exam required. Answers to the questions on the application will help us determine your eligibility. An underwriter may contact you by phone for more information.
Locked-in premium & benefit amount
Your premium is based on gender and age (in Montana, age only) when coverage takes effect. Your rate will not change for the life of the policy. Benefit amounts are available in increments up to $50,000.
Flexible payment options
Enjoy the flexibility to pay premiums monthly, quarterly, semi-annually or annually.
Coverage can't be cancelled
As long as you pay your premiums when due, coverage can last a lifetime.
Follow these steps to apply for Permanent Whole Life Insurance
- Step 1: Choose your coverage amount
You can choose a coverage amount between $10,000 and $50,000 in Permanent Whole Life Insurance coverage.
- Step 2: Choose your payment option
You can enjoy the flexibility to pay premiums monthly, quarterly, semi-annually or annually.
- Step 3: Apply online
Our application only takes minutes to complete.
Why Choose This Colonial Penn Plan?
No Medical Exam
Answers to questions on the application help us determine your eligibility.
We Believe in Making Insurance Simple
Finish the process in a few simple steps.
30-Day Try-It-On Period
Cancel your plan for a full refund.