How much is a $50,000 life insurance from colonial penn – To determine the cost of a $50,000 life insurance policy from Colonial Penn, it’s important to understand that Colonial Penn sells insurance based on a unit system, where each unit costs $9.95 per month. The amount of coverage each unit provides varies depending on the insured’s age and gender.
Detailed Cost Breakdown Table
| Age | Coverage per Unit for Males | Units Needed for $50K (Males) | Cost per Month for Males | Coverage per Unit for Females | Units Needed for $50K (Females) | Cost per Month for Females |
|---|---|---|---|---|---|---|
| 50 | $1,669 | 30 | $298.50 | $2,000 | 25 | $248.75 |
| 55 | $1,420 | 35 | $348.25 | $1,761 | 29 | $288.55 |
| 60 | $1,167 | 43 | $427.85 | $1,515 | 33 | $328.35 |
| 65 | $896 | 56 | $557.20 | $1,258 | 40 | $398.00 |
| 70 | $689 | 73 | $726.35 | $1,000 | 50 | $497.50 |
| 75 | $549 | 91 | $905.45 | $762 | 66 | $656.70 |
How much is a $50,000 life insurance from colonial penn Detailed Description
The table above estimates the monthly cost for $50,000 of coverage from Colonial Penn, based on the value provided by one unit of insurance for both males and females at various ages. The number of units required to reach approximately $50,000 in coverage has been calculated by dividing $50,000 by the coverage amount that one unit provides for each age and gender. The total monthly cost is then estimated by multiplying the number of units by the cost per unit ($9.95).
Conclusion
To secure a $50,000 life insurance policy from Colonial Penn, an individual must purchase multiple units of insurance. The cost and number of units necessary vary significantly with age and gender, with costs increasing dramatically as the insured person gets older. This is due to the decreased coverage amount per unit as age increases. For precise figures tailored to individual circumstances, potential buyers should contact Colonial Penn directly for a personalized quote. This approach ensures that buyers understand the specific investment required to meet their insurance coverage goals based on their unique age and gender.