What is Colonial Penn Beneficiary Planner?
Colonial Penn Beneficiary Planner is a tool designed to help you plan for the future and ensure your loved ones are taken care of, even after your passing.
When you purchase a life insurance policy from Colonial Penn, you have the option to choose a beneficiary - someone who will receive the proceeds of your policy in the event of your death. The Beneficiary Planner helps you determine who your beneficiary should be, as well as how much and what type of coverage you may need.
The planner takes into account your current financial situation, your anticipated future needs, and the needs of your loved ones. By providing detailed information about your finances, your family, and your future plans, the planner gives you a clear picture of what type of coverage you should consider.
You can also use the planner to explore different scenarios, such as the impact of your passing on your spouse's retirement plans or your children's education. Once you have determined your coverage needs, you can use the planner to choose your beneficiary and set up a plan to ensure they receive the benefits they're entitled to.
Overall, the Colonial Penn Beneficiary Planner is a valuable tool for anyone looking to plan for their beneficiaries' future. By providing a clear picture of your coverage needs and beneficiary options, the planner helps you make informed decisions about your life insurance policy and ensures that your loved ones will be taken care of for years to come.
Frequently Asked Questions about colonial penn beneficiary planner
How to Use Your. Beneficiary Planner. This unique Beneficiary Planner has been prepared for. you by Colonial Penn Life Insurance Company as a service to you. It has been specially designed to make it very easy for you to tell a family member or friend where things are… and what your wishes may be after you pass away.
A beneficiary planner is a document you can fill out with all your important personal and financial information to help your future beneficiaries after you pass away.
$9.95 per month
With Colonial Penn life insurance, everyone pays just $9.95 per month for a single unit of coverage. Regardless of your gender or age, the price is always $9.95 monthly.
The average Colonial Penn Life Insurance hourly pay ranges from approximately $18 per hour for a Customer Service Representative to $40 per hour for an Insurance Agent.
The life insurance payout you get from Colonial Penn for $9.95 monthly depends on your age and gender. For example, a 62-year-old male would get $1,057 in coverage. A 62-year-old female would get $1,420 in coverage. The older you are, the less coverage you get per $9.95 unit.
Colonial Penn term life insurance
For example, a woman who purchases $50,000 of coverage would pay: $35.21/month between the ages of 41 and 45. $45.21/month between the ages of 46 and 50. $56.46/month between the ages of 51 and 55.
A beneficiary bank account is a savings account that transfers the money to another person after the account owner passes away. Name beneficiaries can be for bank accounts, life insurance, retirement accounts, and other assets. Furthermore, a beneficiary is someone you want to receive your estate after you pass away.
A primary beneficiary is the person (or persons) first in line to receive the death benefit from your life insurance policy - typically your spouse, children or other family members.
Each unit costs $9.95 a month, and you can buy up to 15 units. The sum you end up with is the total death benefit that will be paid out to your beneficiaries when you die. In other words, the coverage amount is locked in and doesn't go up or down over time. Colonial Penn's pricing structure is unique.
$9.95 will buy one unit of insurance coverage. If you are a 50-year old man, that means your policy will pay out a death benefit of $1,669 when you pass away (if you pass away after two years). If you are a female, your unit will pay out $2,000 in death benefits if you pass away after two years.
How Much Life Insurance Coverage Do You Get With A 995 Plan? You can receive up to $50,000 in coverage with the Colonial Penn 995 Plan.
How Does The Johnathan Lawson $9.95 Plan Work? The $9.95 plan Jonathan Lawson promotes is a guaranteed acceptance whole life insurance policy that does not require you to answer health questions. Regardless of your medical history, you cannot be denied this coverage.
The Cost Of A $10,000 Whole Life Insurance Policy In 2023. A $10,000 whole life policy is a small permanent policy with affordable premiums since the death benefit is relatively small. Expect to pay $25-$150 per month, depending on various factors such as your age.
How Much Does A $50,000 Whole Life Insurance Policy Cost? $100-$500 monthly is the average cost of a $50,000 whole life insurance policy. Remember that factors such as your gender and health will heavily influence the exact cost. Below is a whole life price table that outlines some monthly cost estimates.
A primary beneficiary is the person (or people or organizations) you name to receive your stuff when you die. A contingent beneficiary is second in line to receive your assets in case the primary beneficiary passes away. And a residuary beneficiary gets any property that isn't specifically left to another beneficiary.
Bank accounts, retirement accounts, and life insurance will automatically transfer an inheritance if beneficiaries are designated. Listing beneficiaries on these accounts can be the easiest and quickest way to transfer those assets outside probate court.
