Colonial Penn rates by age, explained.
Colonial Penn rates by age work differently than most people expect. The price of one unit of guaranteed acceptance whole life starts at $9.95 a month and is described as fixed. What your age changes is how much coverage that unit buys. An older enrollment age means a smaller benefit per unit, so each dollar of coverage costs more. Colonial Penn does not print a table by age, and this page does not invent one.
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How the unit pricing works
What does Colonial Penn actually say about price and age?
The wording below comes from the guaranteed acceptance plan page at colonialpenn.com, read in October 2026. The page carries no published date, so confirm current terms on your own quote. For the full plan review, see our Colonial Penn review and our guide to the $9.95 plan and its units. This page stays on one question: what age does to the number.
| Piece | What Colonial Penn says | In plain terms |
|---|---|---|
| Price per unit | Starting at $9.95 a month. Colonial Penn describes the price per unit as a fixed amount. | The price you see in the ads is the price of one unit, not of a policy. |
| Units you can buy | Up to 25 units of coverage. | At the $9.95 starting price, 25 units is $248.75 a month. That is the ceiling on spend and on coverage. |
| Ages | Age 50 to 85 in most states. | Eligibility varies by state, so confirm yours on the quote. |
| What one unit buys | Coverage amounts are based on age, gender (age only in Montana) and state of residence. | This is where age enters the price. The same unit buys a smaller benefit as the starting age goes up. |
| Premium after you enroll | Once insured, your premium is locked in and is guaranteed to never increase. | You do not move up an age band later. Your age at enrollment sets the benefit per unit. |
| Early years | Colonial Penn can accept everyone because of a two-year limited benefit period. Cash value begins to build after the first year. | The full benefit is not paid for a natural death in the first two years. Read the exact payout wording in your policy. |
What changes by age
Why does the same $9.95 cost more per dollar of coverage at 80 than at 55?
Because the premium buys a smaller benefit. Think of a unit as a fixed-size payment and the benefit as the thing that shrinks. The table here uses round made-up benefits to show the arithmetic. These are not Colonial Penn’s figures.
| Example | Benefit per unit | Cost per $1,000 |
|---|---|---|
| Younger enrollment age (example) | $2,000 | $4.97 |
| Middle enrollment age (example) | $1,000 | $9.95 |
| Older enrollment age (example) | $500 | $19.90 |
Illustration only. Cost per $1,000 is $9.95 divided by the benefit in thousands. Your real benefit per unit comes from your Colonial Penn quote.
Two more effects come with age. The cap of 25 units limits total coverage, and since each unit buys less at an older age, the ceiling is lower too. And with a two-year limited benefit period, an older applicant has a higher chance of reaching it. That is a reason to know your number, not a reason to worry.
Get your real number
How do I find out what a unit pays at my age?
Four steps. Say Robert is 72 and wants about $10,000 for funeral costs. He asks for the dollar benefit per unit, divides, and finds out how many units it takes before he decides anything.
- 01Ask for the benefit per unit in dollars. Not the monthly price, which is the same. The dollar benefit one unit buys at your age, gender and state is the number that tells you what you are paying for.
- 02Divide the price by the benefit. Take $9.95 and divide by the benefit in thousands. That is your cost per $1,000 of coverage, and it is the only fair way to compare with another plan.
- 03Decide how many units reach your target. Multiply back up. If the target is a funeral and some final bills, work out how many units that takes and whether it fits under the 25 unit cap.
- 04Price the same dollar amount somewhere else. A level final expense plan that asks a few health questions often pays in full from day one. Whether it costs less for you depends on your health, so it needs a real quote.
When not to call us
You may not need us for this one.
If you want your Colonial Penn number and nothing else, the quote on their site is free and shows your benefit per unit. We would not add anything to that step. And if you already hold units and the coverage fits your plans, keeping it is a good result. A review that ends in keep what you have is a successful review.
Call when you want a second set of eyes on the arithmetic, a few other plans priced for the same dollar amount, or help with the paperwork on a policy you already own. Policy Review Center is a free comparison and referral service. The call costs nothing and there is no obligation.
Straight answers
Colonial Penn rate questions, answered.
Reviewed by Aleen Alnono, licensed insurance agent (NPN 58310472) · Updated October 2026
01Does Colonial Penn publish a rate chart by age?
Not on the pages we could read. The guaranteed acceptance plan page lists the price per unit, the age range, and the 25 unit cap, and says coverage amounts depend on age, gender and state. It does not print a table of benefit per unit by age, so we are not going to print one. Your quote shows your own numbers.
02Does the Colonial Penn price go up as I get older?
The price per unit is described as fixed, starting at $9.95 a month. What changes with age is how much coverage a unit buys: less at an older enrollment age. So the effective cost per dollar of coverage rises with age even though the unit price does not. Once you are insured, the premium is locked and is described as never increasing.
03How much is Colonial Penn per month at age 70 or 80?
One unit starts at $9.95 a month at any eligible age. The part that depends on your age is the benefit that unit buys. Colonial Penn shows that figure on your quote, so ask for it in dollars before you decide how many units to buy.
04What is the most coverage I can buy?
Up to 25 units. The dollar total depends on the benefit per unit at your age, gender and state, so it is lower for an older applicant than a younger one. If you need more than that figure, a level whole life or term policy is a separate product to price.
05Is there a waiting period?
Colonial Penn says it can guarantee acceptance because of a two-year limited benefit period. In plain terms, the full death benefit is not paid for a natural death in the first two years. The page we read does not spell out the payout formula, so check the exact wording in your policy or quote.
06Is Colonial Penn the cheapest option at my age?
Sometimes, mostly when your health would make other coverage hard to get. If you can answer a few health questions, other final expense plans can pay the full amount from the first day, and the price per $1,000 may be lower. The only way to know is to compare quotes for the same dollar amount.
07Can I cancel or lower my units later?
You can contact Colonial Penn to ask about changes. Before you cancel anything, line up what replaces it, because a new guaranteed acceptance policy starts its own two-year clock. Our guide on how to cancel Colonial Penn life insurance walks through the order of steps.
This is an independent explainer. Policy Review Center is not affiliated with or endorsed by Colonial Penn; product names are used for identification only. Benefit amounts depend on age, gender and state, are not quoted on this page, and the example figures above are illustrations. Plan details come from Colonial Penn, can change, and vary by state, so confirm current terms with them. Educational only, not tax, legal, or financial advice. Coverage is issued by the insurer, and any application or change is completed through licensed insurance professionals. A review may conclude that the policy you already have is worth keeping. See also the National Association of Insurance Commissioners for consumer information on life insurance.
Keep reading
- Colonial Penn life insurance review (who the plan fits and how it compares).
- The Colonial Penn $9.95 plan, explained (what a unit is and why the monthly cost is a multiple).
- Mutual of Omaha vs Colonial Penn (guaranteed acceptance beside a level plan).
- How to cancel Colonial Penn life insurance (and what to line up first).
- See the field on our final expense coverage overview, or start with a free policy review.
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Know what your coverage really adds up to.
Call and a licensed professional will work out what a unit pays at your age, compare a few other plans for the same amount, and leave the decision to you. Free, no obligation.
- What one unit pays at your age and state
- Cost per $1,000 of coverage, worked out for you
- Level final expense plans priced for the same amount
- Billing and beneficiary questions on a plan you hold
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