What Is a Unit of Colonial Penn Life Insurance?

Seeking Advice
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I am attempting to comprehend the operation of Colonial Penn’s life insurance policy and constantly running into the word “unit.” What is the equivalent of one unit of Colonial Penn life insurance? What impact does it have on premiums and coverage? I would be very grateful for any explanations or insights into how this operates.

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A unit of Colonial Penn Life Insurance represents a fixed amount of coverage. The cost per unit is fixed, and the total coverage you receive depends on the number of units you purchase. Coverage amounts vary by age, gender (in Montana, only age), and state of residence.

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So, one “unit” with Colonial Penn life insurance is basically a chunk of coverage you buy. Think of it like buying slices of pizza. Each slice (or unit) adds a bit more to your coverage. For premiums, each unit you buy increases your monthly payment. More units = higher premium but more coverage. It’s a way to keep things simple and flexible. I had the same confusion when I first looked into it, but once I got it, it made more sense.

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The term “unit” in Colonial Penn life insurance refers to a certain dollar amount of coverage that is available for purchase. The amount that would be distributed to your beneficiaries upon your death is represented by each unit, which is equivalent to a fixed level of death benefit coverage. Colonial Penn’s life insurance is frequently promoted as an affordable choice, with advertisements emphasizing that policies may be obtained for as little as $9.95 each. However, depending on your region, gender, and age, you may receive different coverage amounts per unit. A 50-year-old man and a 70-year-old woman, for instance, might receive different death benefits from the same unit of coverage. Each unit’s coverage varies according to your age and gender. This means that a unit will provide a different death benefit amount depending on these factors.

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As a former Globe Life employee, read everything and pay attention. They’ve been trained to force you to buy stuff you don’t really need or want.