January 27, 2023

Finding senior life insurance can be challenging to navigate with all of the tv ads and promotional materials. The Jonathan Lawson Colonial Penn tv commercial is a routinely played ad. He is on the commercial explaining how great the $9.95 product is and that it is one of the best final expense insurance plans you can buy.

The Jonathan Lawson Colonial Penn review will uncover if the offers he is pitching are a good deal or not.

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Does Jonathan Lawson Really Work For Colonial Penn?

Jonathan Lawson has been employed by Colonial Penn for over 15 years and is a company spokesman. In his LinkedIn profile, he has held positions as a Telesales Manager, Customer Service Manager, and most recently, Directory of Quality Assurance and Escalations. You will also find him advertising the Colonial Penn $9.95 plan as an actor in tv commercials.

In contrast, his predecessor, the late Alex Trabec, was a paid spokesman advertising the Colonial Penn 995 plan.

Jonathan Lawson Colonial Penn Life Insurance Plan Details

The $9.95 Colonial Penn Plan that Jonathan Lawson is promoting is a guaranteed acceptance policy. No medical questions will be asked, but seniors will be required to have a waiting period with their final expense insurance coverage. The waiting period will be two years from the policy issue date.

If the policyholder were to pass away during the waiting period, the beneficiary would receive all the premiums paid plus 7% interest.

The payout schedule is listed below.

  • Year One: All paid premiums returned plus 7%
  • Year Two: All paid premiums returned plus 7%
  • All Other Years: Full coverage amount

Coverage Issued in Units

The marketing of $9.95 for funeral insurance draws the senior in with the thought of extremely affordable coverage. The issue is in the details. Colonial Penn sells life insurance coverage in “units,” which means you will receive 1 unit for $9.95. A maximum of 15 units can be purchased.

How Much Coverage do You get for One Unit?

The price per unit will never change, but what will adjust is the death benefit. The younger you are, the more coverage you will receive per unit. For example, a 65-year-old female will receive $1,258 of coverage for one unit, while a 75-year-old will receive $762.

Female (1 Unit $9.95) Male (1Unit $9.95)
Content
Content
50
$2,000
$1,669
51
$1,942
$1,620
52
$1,890
$1,565
53
$1,845
$1,515
54
1,802
$1,460
55
$1,761
$1,420
56
$1,719
$1,370
57
$1,669
$1,313
58
$1,620
$1,258
59
$1,565
$1,200
60
$1,565
$1,167
61
$1,460
$1,112
62
$1,420
$1,057
63
$1,370
$1,000
64
$1,313
$949
65
$1,258
896
66
$1,200
$846
67
$1,167
$802
68
$1,112
$762
69
$1,057
$724
70
$1,000
$698
71
$949
$657
72
$896
$627
73
$846
$608
74
$802
$578
75
$762
$549
76
$724
$521
77
$689
$493
78
$657
$468
79
$627
$441
80
$608
$426
81
$578
$424
82
$549
$423
83
$521
$421
84
$493
$420
85
$468
$418

Details Left Out Of The Jonathan Lawson Colonial Penn Commercial

There are critical details left out of the commercials that Jonathan Lawson is staring in. Specifically, the real price you pay, a waiting period is required, and $9.95 gets you a lackluster amount of coverage.

The Plan Costs More

The 995 plan will cost more than other products because it is a guaranteed issue policy. When an insurance company approves every applicant without looking at health history, that is a surefire way to know the price will be higher than other options.

There is a Two Year Waiting Period

Sometimes a waiting period is unavoidable, but you should always try to get a plan with immediate coverage. Your first call should not be to a company that sells an overpriced guaranteed issue plan. Many insurance products on the market will approve most seniors for day one coverage.

$9.95 per Month Doesn’t get You Much Coverage

The average funeral costs between $7,000 and $8,000. One unit of the $9.95 plan will only be able to cover a fraction of burial expenses. It is easy to be fooled by the slogan of $9.95 a month for life insurance, but when you remove all the marketing gimmicks, this plan does not provide substantial coverage.

Jonathan Lawson Colonial Penn Coverage: Should You Buy?

The Jonathan Lawson Colonial Penn life insurance plan is overpriced and should be avoided. Most seniors can qualify for burial insurance with no waiting period and do not need a guaranteed issue policy. Even if you do not qualify for an immediate coverage plan, there are better life insurance options at a much lower price.

A guaranteed acceptance plan should be reserved for seniors with severe medical concerns; most applicants do not need this type of plan.

How to Find the Best Burial Insurance Coverage

When purchasing burial insurance, there are two main ways to secure coverage.

Direct from Company: When you purchase directly from a company, for example, Colonial Penn or AARP burial insurance, you will only be shown the plans they offer. This will significantly limit your options and lead to overpaying for final expense insurance.

Insurance Agency: When working with an insurance agency that represents multiple final expense insurance policies, you will have more coverage options to choose from and ultimately pay a lower price.

Final Thoughts

a. Jonathan Lawson is an actual employee at Colonial Penn and doubles as a spokesperson and actor in their tv commercials.

b. The 995 plan that Jonathan Lawson is marketing is a guaranteed issue plan that is overpriced and should be avoided. There are better options available to the consumer.

c. Work with an insurance agency to find the best plan at the lowest possible price. Calling Colonial Penn directly will lead to overpaying for funeral insurance.