Final Expense Whole Life
The Truth About “$9.95 a Month”
That $9.95 is per unit of coverage — not the price of a funeral policy.
Key Takeaways
- $9.95 buys one unit of Colonial Penn guaranteed-acceptance coverage.
- A unit equals $2,000 when you are younger, about $1,000 when you are older, depending on age.
- The younger you are, the more coverage you get for $9.95.
- One $9.95 unit does not cover a funeral, which runs $15,250 to $17,200 all-in by state.
What one $9.95 unit buys — examples
| Age | One unit buys | Units for $10,000 | Monthly for $10,000 |
|---|---|---|---|
| 50-year-old woman | $2,000 | 5 | $49.75 |
| 75-year-old woman | $762 | 14 | $139.30 |
| 75-year-old man | $549 | 19 | $189.05 |
In general, men pay more for the same coverage. At the same age, a man’s unit buys less coverage than a woman’s, so a man needs more units — and pays more per month — for the same $10,000.
Examples from published unit charts. Colonial Penn itself confirms the unit system — coverage in units, benefit based on age, gender and state, fixed price per unit, multiple units can be bought — but does not print per-age amounts on its public pages.
Why it matters
An all-in traditional funeral with burial, with the cemetery counted, runs $15,250 to $17,200 depending on the state (Memorial Merits Funeral Cost Index 2026). One $9.95 unit does not cover a funeral — at 75, it covers less than a tenth of it.
What to ask before you buy any “teaser” plan
- How much coverage does one unit (or one quoted rate) actually buy at my age?
- How many units do I need for the funeral I am actually planning?
- What is the total monthly premium for that amount — not the unit price?
- Is there a graded-benefit period, and how long is it?