Colonial Penn Insurance – how big is a UNIT?
The ads and website quote a price like 7.85 per month PER UNIT. I don’t know if a unit is $100, $1000, $10000?
The phone number quotes the price but ALSO evades the question of how big is a unit.
Does anyone know the answer?
A unit is $1000 of insurance. To arrive at a monthly premium take the price per unit (7.85 X 10 = $78.50) and multiply by the number of thousands you want. The example above would be for a $10,000 policy (face amount) at 7.85 per unit, which would equal a monthly premium or price of $78.50 a month. advise…please don’t purchase your life insurance through the mail….there is the fine print that these policies have and you want representation at a local level with someone you trust. Most of these policies through the mail are a guaranteed issue because they all have a two year waiting period before coverage begins. Hope this helps.
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