Colonial Penn Actor Jonathan Lawson Hides The Truth (2024)

Who Is Jonathan Lawson Of Colonial Penn?

Jonathan Lawson is a Colonial Penn employee who appears in TV commercials promoting the guaranteed acceptance $9.95 plan for seniors. He is not just a paid endorser like Alex Trebek was.

His LinkedIn profile shows his official title is “Director of Quality Assurance & Escalations.” After graduating high school at 18, he went to Peirce College, earning a Bachelor of Business Administration (B.B.A.), and now works for Colonial Penn. He also served in the Marine Corps for 14 years as Master Instructor.

How Does The Johnathan Lawson $9.95 Plan Work?

The $9.95 plan Jonathan Lawson promotes is a guaranteed acceptance whole life insurance policy that does not require you to answer health questions.

Regardless of your medical history, you cannot be denied.

Since it’s a whole life final expense policy, the premiums will never increase, and the policy won’t expire due to age.

Additionally, the coverage won’t decrease in value, and it will build cash value.

Because the $995 plan has no health questions, there is a two-year waiting period. If you die during the first 24 months, your beneficiaries will only receive a refund of the premiums and a small interest amount.

From a cost perspective, the $9.95 plan sounds very affordable on the surface. But as the saying goes, the devil is in the details.

The truth is that $9.95 only buys a senior $418-$2,000 in coverage, depending on your age and gender. For example, a 70-year-old male would only have $689 of life insurance for $9.95.

Coverage Sold By The “Unit”

Colonial Penn sells its senior funeral insurance by the unit instead of by coverage amounts such as $5,000, $10,000, or $25,000.

A unit of coverage corresponds to how much life insurance a person gets, which is determined by age and gender.

Regardless of your gender or age, everyone still only pays $9.95 per month. What you must consider is how much coverage each unit provides.

Once you look at a Colonial Penn rate chart, you quickly realize that Colonial Penn’s guaranteed acceptance plan is very costly relative to other life insurance companies.

For example, a 53-year-old male only gets $1,515 in coverage for that $9.95 monthly.

The older you are, the less coverage that a single unit provides.

Below is a chart and calculator that outlines exactly how much coverage each unit provides.

Should You Buy Colonial Penn Coverage That Jonathan Lawson Promotes?

Despite Jonathan’s claims about how good Colonial Penn life insurance is, no senior citizen should buy the 995 plan. The $9.95 plan is far more expensive than many other insurance providers, and there’s a waiting period (for everyone).

With multiple other companies, you can secure coverage that costs significantly less and likely has no waiting period. That’s true even if you want final expense insurance with pre-existing conditions.

For example, a 65-year-old male would get a life insurance benefit of only $896 from one 995 unit. To get roughly $10,000 in whole life coverage, he would need to buy 12 units, costing $119.40 monthly ($9.95 x 12).

That same 65-year-old man would pay only $56.48 monthly with Mutual of Omaha for a $10,000 policy. Also, the Living Promise policy from Mutual of Omaha has no waiting period.

Use our insurance quotes tool to compare Colonial Penn’s coverage to other insurance products in your state, and you will see how much more coverage you can get from other insurance companies.

Ultimately, when you analyze all the pros and cons of Colonial Penn life insurance, they are not a good buy.

How To Find The Best Final Expense Insurance Policy

Don’t let TV spokesmen like Jonathan Lawson persuade you to buy overpriced burial insurance.

Instead, give your money to a company that offers quality coverage at a fair price.

When trying to buy life insurance, you have two choices:

• Buy directly from an insurance company (Example: Globe Life).
• Buy through a licensed agency that represents one or more insurers.

First, when you try to buy directly from a carrier, you limit yourself to only what they offer. State Farm is one such example.

If you ever buy from a State Farm agent, they cannot and will not suggest coverage from another provider. You’re out of luck if you aren’t pleased with their offering.

However, if you work with an agency, the opposite is true.

Independent agencies (aka “brokers”) partner with multiple life insurance companies, so they have the freedom to shop around for their clients.

To find the best final expense life insurance policy, the best thing to do is to work with an independent agency that can compare multiple providers on your behalf.

Frequently Asked Questions