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Alex Trebek was a spokesperson for Colonial Penn Life Insurance for over 25 years. He marketed life insurance to those on a fixed budget by emphasising that anyone looking for insurance should watch out for the Three P's (price, price, and price). The Colonial Penn $9.95 plan, sometimes referred to as Alex Trebek Life Insurance, is a guaranteed acceptance whole life insurance policy that does not require an exam for any of its plans. You may purchase it over the phone or by mail.
| Characteristics | Values |
|---|---|
| Name | Colonial Penn $9.95 plan |
| Other names | Alex Trebek Life Insurance, Alex Trebek Guaranteed Acceptance Plan |
| Type | Whole life final expense policy |
| Cost | $9.95 per unit |
| Health questions | No |
| Waiting period | Two years |
| Payout during waiting period | Refund of premiums paid plus interest |
| Spokesperson | Alex Trebek |
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What You'll Learn
- Alex Trebek was a spokesperson for Colonial Penn Life Insurance
- The Colonial Penn $9.95 plan is also known as the Alex Trebek Life Insurance
- The plan is a guaranteed acceptance whole life insurance policy
- There are three types of coverage: guaranteed issue whole life, renewable term, and guaranteed acceptance
- The policy will not decrease in value but rather build monetary value
Alex Trebek was a spokesperson for Colonial Penn Life Insurance
Colonial Penn's $9.95 plan, sometimes referred to as "Alex Trebek Life Insurance", is a guaranteed acceptance whole life insurance policy that does not require an exam for any of its plans. You may purchase it over the phone or by mail. The policy will not decrease in value but rather build monetary value. There is a two-year waiting period, during which Colonial Penn will not deem you eligible for a payout. If the policyholder passes away during the first two years, the beneficiaries will only receive a refund of the paid premiums and a designated interest amount.
Since Trebek's death, Jonathan Lawson has become the successor as spokesperson for Colonial Penn. Lawson is a Colonial Penn employee who appears in TV commercials promoting the $9.95 plan.
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The Colonial Penn $9.95 plan is also known as the Alex Trebek Life Insurance
The $9.95 plan is a guaranteed acceptance whole life insurance policy that does not require an exam. It is a type of insurance where your premiums will never increase and the policy will not expire due to age. The policy will not decrease in value but rather build monetary value. Since this plan has no health questions, there is a two-year waiting period. If the policyholder passes away during the first two years, the beneficiaries will only receive a refund of the paid premiums and a designated interest amount.
Colonial Penn's most elusive coverage option, or the Alex Trebek Guaranteed Acceptance Plan, will not ask you any disqualifying questions, and everyone who applies is approved. The rate you are given may be adjusted depending on multiple factors. A few drawbacks to this policy involve the mandatory two-year waiting period, in which Colonial Penn will not deem you eligible for payout.
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$27.95
The plan is a guaranteed acceptance whole life insurance policy
Alex Trebek was a spokesperson for Colonial Penn Life Insurance for over 25 years. He marketed life insurance to those on a fixed budget, emphasising the 'Three P's' (price, price, and price). The Colonial Penn $9.95 plan, sometimes referred to as 'Alex Trebek Life Insurance', is a guaranteed acceptance whole life insurance policy. This means that anyone can apply and be approved, without having to answer any health questions. The plan has a mandatory two-year waiting period, during which Colonial Penn will not deem you eligible for payout. If the policyholder passes away during the first two years, the beneficiaries will only receive a refund of the paid premiums and a designated interest amount. After the two-year waiting period, the policy will not decrease in value but rather build monetary value. The premiums will never increase and the policy will not expire due to age.
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There are three types of coverage: guaranteed issue whole life, renewable term, and guaranteed acceptance
Alex Trebek was a spokesperson for Colonial Penn Life Insurance for over 25 years. He marketed life insurance to those on a fixed budget, emphasising the 'three Ps': price, price, and price. Colonial Penn offers three types of coverage: guaranteed issue whole life, renewable term, and guaranteed acceptance.
The first type of coverage is guaranteed issue whole life insurance, which costs $9.95 per unit. This is a whole life final expense policy, meaning that your premiums will never increase and the policy will not expire due to age. The policy will not decrease in value but rather build monetary value. There are no health questions asked, but there is a two-year waiting period. If the policyholder passes away during the first two years, the beneficiaries will only receive a refund of the paid premiums and a designated interest amount.
The second type of coverage is renewable term life insurance, which also costs $9.95 per unit. This type of insurance is best known for its inexpensive insurance products and lack of required exams. You may purchase this type of insurance over the phone or by mail.
The third type of coverage is guaranteed acceptance, which is Colonial Penn's most elusive coverage option. This plan will not ask you any disqualifying questions, and everyone who applies is approved. However, there is a mandatory two-year waiting period during which Colonial Penn will not deem you eligible for payout. The rate you are given may be adjusted depending on multiple factors.
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The policy will not decrease in value but rather build monetary value
Alex Trebek was a spokesperson for Colonial Penn Life Insurance for over 25 years. He promoted the Colonial Penn $9.95 plan, sometimes referred to as the 'Alex Trebek Life Insurance' or the 'Alex Trebek Guaranteed Acceptance Plan'. This plan is a guaranteed acceptance whole life insurance policy that does not require an exam for any of its plans, and you may purchase it over the phone or by mail. The policy will not decrease in value but rather build monetary value. This is because it is a whole life final expense policy, meaning your premiums will never increase and the policy will not expire due to age. Since the plan has no health questions, there is a two-year waiting period. If the policyholder passes away during the first two years, the beneficiaries will only receive a refund of the paid premiums and a designated interest amount.
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Frequently asked questions
Alex Trebek was a spokesperson for Colonial Penn Life Insurance for over 25 years. The $9.95 plan, sometimes referred to as the Alex Trebek Life Insurance, is a guaranteed acceptance whole life insurance policy.
The Alex Trebek Life Insurance is a whole life final expense policy, meaning your premiums will never increase and the policy will not expire due to age. The policy will not decrease in value but rather build monetary value.
All individuals are eligible for coverage, starting at just $9.95 monthly. Colonial Penn's most elusive coverage option, or the Alex Trebek Guaranteed Acceptance Plan, will not ask you any disqualifying questions, and everyone who applies is approved.
