Is the Colonial Penn $9.95 Plan Worth It in 2026? (Full Review & Real Coverage Amounts)
Are you asking, “How much coverage is the Colonial Penn $9.95 plan in 2026?” You’re not alone.
Colonial Penn’s ads make it sound like $9.95 buys a full burial policy—but that’s rarely the case. If you’re a senior comparing final expense plans, you need real numbers, honest pros and cons, and better alternatives.
This expert 2026 review reveals everything you need to know—without the gimmicks.
Burial Insurance Carrier Snapshot
What Is the Colonial Penn $9.95 Plan?
The Colonial Penn $9.95 plan is a Guaranteed Acceptance Life Insurance policy sold in units. Each unit costs $9.95/month, but the coverage amount per unit changes based on your age and gender.
There’s no medical exam—but there is a catch…
Colonial Penn $9.95 Plan Rate Chart by Age (2026)
Colonial Penn $9.95 Plan Rate Chart
Age 50–85
| Age | 1 Male Unit ($9.95) |
1 Female Unit ($9.95) |
|---|---|---|
| 50 | $1,669 | $2,000 |
| 51 | $1,620 | $1,942 |
| 52 | $1,565 | $1,890 |
| 53 | $1,515 | $1,845 |
| 54 | $1,460 | $1,802 |
| 55 | $1,420 | $1,761 |
| 56 | $1,370 | $1,719 |
| 57 | $1,313 | $1,669 |
| 58 | $1,258 | $1,620 |
| 59 | $1,200 | $1,565 |
| 60 | $1,167 | $1,515 |
| 61 | $1,112 | $1,460 |
| 62 | $1,057 | $1,420 |
| 63 | $1,000 | $1,370 |
| 64 | $949 | $1,313 |
| 65 | $896 | $1,258 |
| 66 | $846 | $1,200 |
| 67 | $802 | $1,167 |
| 68 | $762 | $1,112 |
| 69 | $724 | $1,057 |
| 70 | $689 | $1,000 |
| 71 | $657 | $949 |
| 72 | $627 | $896 |
| 73 | $608 | $846 |
| 74 | $578 | $802 |
| 75 | $549 | $762 |
| 76 | $521 | $724 |
| 77 | $493 | $689 |
| 78 | $468 | $657 |
| 79 | $441 | $627 |
| 80 | $426 | $608 |
| 81 | $424 | $578 |
| 82 | $423 | $549 |
| 83 | $421 | $521 |
| 84 | $420 | $493 |
| 85 | $418 | $468 |
Above is the Colonial Penn life insurance rate chart that details the price per unit and at what age. Below is the Colonial Penn 995 plan calculator to accurately know the exact price and how many units are available.
As you can see, coverage is limited.
What Is “MY” Price?
Want to know which plan is actually right—immediate coverage vs. graded options, price vs. acceptance? Pick your next step below.
What’s the Catch With Colonial Penn’s Plan?
Let’s break it down:
- ❌ 2-year waiting period (no full payout for natural death during this time)
- ❌ Low coverage per $9.95 unit
- ❌ Vague advertising
- ✅ Easy to qualify (guaranteed issue)
If you’re wondering, “Is Colonial Penn’s $9.95 plan a scam?” — no, but it’s often misleading.
Misleading Sales Practices to Watch For
- “Guaranteed acceptance” without context: True, but only up to age 85, and benefits are graded for two years. WAITING PERIOD!
- “Coverage for just $9.95”: Technically true, but hides the reality of how little coverage you receive.
- Celebrity endorsements: Ads lean on trust from TV personalities instead of being transparent about value.
- Emotional marketing: Focuses on fear and security, while burying the real numbers in fine print.
💭 Ask yourself: At 80, if your loved ones only received $426 from your policy, would that provide peace of mind?
Colonial Penn $9.95 Plan vs. Day-One Final Expense Insurance
Here’s what the $9.95 plan really provides vs being shopped by us:
| Feature | Colonial Penn | PinnacleQuote Final Expense |
|---|---|---|
| Medical Questions | ❌ None | ✅ Simplified Health Questions |
| Coverage Start | ❌ After 2 Years (Natural) | ✅ Immediate (No Waiting) |
| $50 Monthly Buys | ~5 Units (~$2,000-$8,000) | $3,500–$23,000 Coverage |
| Cost Transparency | ❌ Confusing Unit Model | ✅ Dollar-Based Premiums |
Colonial Penn Life Insurance Cost
👉 By comparison, a senior could pay the same monthly premium with another carrier and receive coverage with no waiting period for 50% cheaper.
Check for yourself….final expense insurance with no waiting period….Below!
Still comparing? Most people save money when we match them to the right rate class first.
Pros and Cons of the $9.95 Plan
✅ Pros
- Guaranteed acceptance, even with severe health conditions.
- Fixed premiums that never increase.
- Coverage lasts a lifetime.
❌ Cons
- Extremely limited coverage (hundreds, not thousands).
- Two-year waiting period for natural causes.
- Misleading marketing creates false confidence.
- Far higher cost per dollar of protection than competitors.
People Also Ask
Coverage depends on age and gender. A 75-year-old male gets around $560 for one unit.
For most seniors, no. There are better options with more coverage and no waiting period.
It’s a unit-based model. See our full 2026 rate chart by age and gender above.
Yes—up to 15 units. But the value is still limited, and the 2-year waiting period applies.
💡 Most seniors need 5–10 units to reach even $10,000 in coverage.
Better Alternatives for Seniors
The reality is, there are dozens of carriers nationwide that offer:
- No waiting period coverage.
- Higher benefit amounts for the same or lower cost.
- Transparent pricing, without the marketing gimmicks.
Examples include:
- Mutual of Omaha – Higher coverage amounts with day-one benefits.
- Aetna final expense – Competitive rates and same-day coverage.
- Aflac final Expense – Competitive rates, Superior provider, lenient underwriting.
| Age | $10,000 | $25,000 | $50,000 |
|---|---|---|---|
| 45 | $22.61 | $51.71 | $100.21 |
| 50 | $24.31 | $55.96 | $108.71 |
| 55 | $27.71 | $64.46 | $125.71 |
| 60 | $32.87 | $77.36 | $151.52 |
| 65 | $41.01 | $97.72 | $192.24 |
| 70 | $53.24 | $128.29 | $253.38 |
| 75 | $72.41 | $176.22 | $349.24 |
| 80 | $98.43 | $241.28 | $479.35 |
| 85 | $135.90 | $334.95 | $666.70 |
| Age | $10,000 | $25,000 | $50,000 |
|---|---|---|---|
| 45 | $27.11 | $62.97 | $122.73 |
| 50 | $30.68 | $71.89 | $140.58 |
| 55 | $35.95 | $85.06 | $166.92 |
| 60 | $43.76 | $104.60 | $205.99 |
| 65 | $56.48 | $136.39 | $269.58 |
| 70 | $74.61 | $181.72 | $360.23 |
| 75 | $99.97 | $245.13 | $487.05 |
| 80 | $139.73 | $344.52 | $685.83 |
| 85 | $192.74 | $477.04 | $950.88 |
| Age | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| 45 | $13.42 | $23.50 | $53.75 |
| 50 | $15.00 | $26.67 | $61.66 |
| 55 | $17.79 | $32.25 | $75.62 |
| 60 | $21.46 | $39.58 | $93.96 |
| 65 | $24.58 | $45.83 | $109.58 |
| 70 | $29.58 | $55.83 | $134.58 |
| 75 | $37.92 | $72.50 | $176.24 |
| 80 | $50.42 | $97.50 | $238.74 |
| 85 | $67.50 | $131.66 | $324.15 |
| 86 | $83.83 | $164.33 | $405.82 |
| 87 | $100.16 | $196.99 | $487.48 |
| 88 | $116.50 | $229.66 | $569.14 |
| 89 | $132.83 | $262.32 | $650.81 |
| Age | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| 45 | $14.62 | $25.92 | $59.79 |
| 50 | $18.54 | $33.75 | $79.37 |
| 55 | $22.33 | $41.33 | $98.33 |
| 60 | $26.75 | $50.17 | $120.41 |
| 65 | $29.58 | $55.83 | $134.58 |
| 70 | $36.67 | $70.00 | $169.99 |
| 75 | $50.42 | $97.50 | $238.74 |
| 80 | $68.75 | $134.16 | $330.40 |
| 85 | $95.41 | $187.49 | $463.73 |
| 86 | $114.58 | $225.82 | $559.56 |
| 87 | $133.75 | $264.16 | $655.39 |
| 88 | $152.91 | $302.49 | $751.22 |
| 89 | $172.08 | $340.82 | $847.05 |
| Age | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| 45 | $14.70 | $25.20 | $56.70 |
| 50 | $15.59 | $26.98 | $61.14 |
| 55 | $16.83 | $29.45 | $67.33 |
| 60 | $19.43 | $34.65 | $80.33 |
| 65 | $24.09 | $43.99 | $103.67 |
| 70 | $30.09 | $55.97 | $133.63 |
| 75 | $43.07 | $81.94 | $198.56 |
| 80 | $60.08 | $115.96 | $283.59 |
| Age | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| 45 | $16.87 | $29.55 | $67.57 |
| 50 | $18.85 | $33.50 | $77.46 |
| 55 | $21.23 | $38.26 | $89.36 |
| 60 | $24.68 | $45.16 | $106.60 |
| 65 | $30.00 | $55.81 | $133.22 |
| 70 | $38.09 | $71.98 | $173.64 |
| 75 | $52.07 | $99.94 | $243.56 |
| 80 | $80.08 | $155.95 | $383.58 |
*Ballpark Quote
Advocating for Seniors: Why Transparency Matters
Seniors deserve honesty. Colonial Penn’s ads oversimplify a complex product, leaving buyers thinking they’re protected when they’re not.
As a broker who shops dozens of superior providers, my mission is to protect seniors from paying more for less. The good news? With the right plan, you can lock in immediate coverage with real protection for your loved ones.
Final Verdict – Is Colonial Penn’s $9.95 Plan Misleading?
Yes — while it’s not a scam, it’s heavily marketed in a misleading way. Seniors deserve to know the truth: $9.95 barely covers anything, and far better options are available.
💭 Would your family be secure with only $426 in coverage, or do they deserve full protection?
Related Articles
FAQs
You can’t be turned down due to health. However, it comes with a 2-year waiting period for natural death.
Yes. Most seniors qualify for day-one coverage with better pricing by answering basic health questions.
Yes. PinnacleQuote compares 15+ top-rated carriers to offer final expense policies with no waiting period.
guaranteed acceptance life insurance with waiting period final expense insurance with no waiting period
Conclusion: Don’t Settle for Low Coverage
Colonial Penn’s $9.95 plan isn’t illegal—it’s just not enough for most seniors. Cremations now cost $2,500–$7,000. A $500 policy won’t help your family.
Let PinnacleQuote shop the market and find you:
- ✅ Protection you can count on
- ✅ Immediate coverage options
- ✅ Honest monthly pricing
Next Steps
Ready to lock in coverage with no guesswork?
The fastest path to the best rate is isolating your rate class first—then we shop the market for the strongest plan.
14 Comments
Dez R
They are a scam; after a year and a half of paying $40.80 per month for a $6,000. whole life policy, I received a letter that I owe over $700. for another policy that I supposedly signed up for. The reference/policy number was completely different from the one I had. I can never get a hold of someone there, it is very hard to connect to a person. When I finally got someone to answer, it was a guy in PhiIippines, who had no clue why I had another policy. I told him to cancel the policy and return my money. This was almost a year ago and I have not received any money back from them. I paid $40.80 for approximately 2 years, that's how long they scammed me. Please anyone who sees this, do not fall for this Colonial Penn CRAP!
Danny Ray
Dez, we agree 100%, give us a call and we will help you and answer any questions.
855-380-3300 ext 2
Patty Couch
Need burial insurance
Robert Stallter
I want to get insurance for my my wife Anna Stallter is all ready insured with you
Dolores E Ramirez
Would like burial and whole life insurance quote.
Dolores Ramirez
de***********@***il.com
Email me to connect with representative. Thank you
Karen James
Looking for information for life insurance whole life insurance
Ron Ostrowski
I would like a quote on $15K term life insurance for my self and my wife
Harold Edward Willett
I appreciate this write up. It's about time someone told the Truth about these scammers. I did one just appreciate it very much Colonial Penn Huge Scam
Harold Edward Willett
I appreciate this write up. It's about time someone told the Truth about these scammers. I did one just appreciate it very much Colonial Penn Huge Scam
Danny Ray
They are grossly over priced. You can find so much better elsewhere. You will either get 50% lower price, or double the coverage WITH OUT a waiting period.
Melody Lockhart
Great u just signed up with them i hope it isn't a scam
Danny Ray
No, not a scam, just so many better options. The $9.95 Plan is a waiting period policy and is 30-50% higher than the best rates. SO you can either save 50%, or get double the coverage for the same price. Reach out anytime at 855-380-3300 we would love to go over your options.
Brenda Snipes
Yrs ago my husband tried for insurance the lady real fast called a name out to leave the policy to that was doing it an he caught it it was herself this is where the scams come from
Judy Rhodes
Can you send me some information on life insurance 6916 Hwy 187 Anderson SC 29625