Last Updated on: April 30, 2026
Reviewed by Kyle Wilson
The colonial pen $9.95 plan is a guaranteed acceptance whole life insurance policy, it means no health questions, no medical exam, no possibility of being turned down. Every applicant from 50 to 85 is approved automatically.
Here is the catch most TV has not explained, the $9.95 is the cost of one unit of coverage. The dollar amount that one unit actually covers depends entirely on your age and gender and it is often much less than you expect.
According to Colonial Penn’s official product page, you can buy up to 25 units maximum. The older you are, the few dollars of coverage each unit.
One unit adds $9.95 per month but gives between $418 and $2000 in coverage depending on your gender.
The table below shows exactly what one unit of coverage is worth at each age, based on data directly from colonial penn’s website in March 2026.
| Age | Male Coverage (1 Unit) | Female Coverage (1 Unit) |
| 50 | $1,669 | $2,000 |
| 55 | $1,420 | $1,761 |
| 60 | $1,167 | $1,515 |
| 65 | $896 | $1,258 |
| 70 | $689 | $1,000 |
| 75 | $549 | $762 |
| 80 | $426 | $608 |
| 85 | $418 | $468 |
Source ColonialPenn.com
So if a 65 years old male wanted $10,000 in coverage, he would need roughly 12 units costing $119.40 per month. That is $1432.80 per year for a policy with a two year period before natural causes that are fully covered.
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A unit is simply Colonial Penn’s pricing structure. Instead of quoting you a rate based on the dollar amount of coverage you want, they sell you coverage in blocks that are all units each cost you $9.95 per month.
Here is how it works in practice
The payout is the total face value of all units purchased, but only if you survive the two year waiting period.
Here is how the math works for a 65 years old male at different unit levels.
Units Purchased | Monthly Premium | Total Coverage | Waiting Period Payout (Year 1– 2) |
| 1 | $9.95 | $896 | Premiums refunded only |
| 5 | $49.75 | $4,480 | Premiums refunded only |
| 12 | $119.40 | $10,752 | Premiums refunded only |
| 25 | $248.75 | $22,400 | Premiums refunded only |
Coverage amount is calculated using Colonial Penn’s per unit rate of $896 for a 65 years old male. The only exception to the waiting period is accidental death, if death results from a cupboard accident then the full benefit pays out from day one even during the waiting period.
For most people, no, not when compared to what else is available at the same price point.
Here is the side-by-side comparison of monthly premiums for a $10,000 policy for a 65 years old female, sourced from monthly premiums for a $10,000 policy for a 65 years old female, sourced from choiceMutual verified rate tool.
| Company | Monthly Premium | Waiting Period | Coverage |
| AARP | $24.00 | No | $10,000 |
| Mutual of Omaha | $41.01 | No | $10,000 |
| Transamerica | $24.23 | No | $10,000 |
| Colonial Penn (9.95 plan) | $49.75 | Yes — 2 years | $10,000 |
The verdict is clear, colonial pen $9.95 then costs more and comes with a waiting period that competitors skip entirely. The plan is legitimate, Colonial Penn is A rated by AM best but the value preposition is weak as compared to what independent burial insurance providers offer.
Customer sentiment across major review platforms being a mix to negative picture
| Platform | Rating | Number of Reviews |
| BBB | 1.08 / 5 | 215 reviews |
| Trustpilot | 1.3 / 5 | 56 reviews |
| 3.0 / 5 | 596 reviews | |
| Yelp | 1.1 / 5 | 51 reviews |
These ratings are sourced from BBB, trustpilot, and Google, and are valid as of March 2026.
The most common complaints involved confusion about how the unit works, frustration with the waiting period and the realization post involvement that coverage was less than expected.
Colonial pen does hold a better business bureaucratic and a financial strength reading from a.m. Best. It means they are financially stable and will honour valid claims.
If you are exploring final expenses or per Jonas, whether for yourself or a parent, the throne pen is one option but it is really the best one for the money. So many seniors, even those with health conditions can also qualify for policies that are offering immediate coverage with more death benefit per dollar.
If you would like help comparing the Bary insurance option side-by-side with no obligations, speak with the licensed agent from Burial Senior Insurance and get multiple quotes as a first step. They will show you what you actually qualify for and what it would cost so you can make a truly informed decision.
4 $9.95 per month, you usually get smaller coverage, around $5000-$15,000. It depends on your age and your health.
A $50,000 policy usually costs about twenty dollars to sixty dollars per month . younger and healthy people pay less.
Yes most 9.95 plans are real. But they usually get very low coverage and can increase in price later. Before buying, always read the details carefully.
$10,000 policy pays $10,000 to your family when you pass away. It is mainly used to cover the small expenses.
Senior Writer & Licensed Life Insurance Agent
Jazmine Cooke is a dynamic and insightful senior writer with a passion for life insurance and financial planning. With over 8 years of hands-on experience in the insurance industry, Jazmine Cooke has earned a reputation for delivering clear, actionable advice that empowers individuals to make informed decisions about their financial future. At Burial Senior Insurance, she not only excels as a licensed insurance agent but also as a trusted guide who has successfully advised over +1500 clients, helping them navigate the often complex world of life insurance and annuities. Her articles have been featured in top-tier financial publications, making her a respected voice in the industry.
Burial Senior Insurance provides information and services related to burial insurance for senior citizens, including policy options and end-of-life support services.
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