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When you shop for life insurance through Quotacy, you have access to the country’s top-rated life insurance companies. Is William Penn the right term life insurance company for you? In this video, we review William Penn to help you make an informed buying decision.

Video Transcript

Hey everyone, we’re Jeanna and Natasha and we work at Quotacy. Quotacy is an independent life insurance broker. This means we have the ability to sell policies from multiple life insurance companies giving you more options.

Today we’re going to give a review of William Penn, owned by Legal & General, one of the life insurance companies we work with. Legal & General was founded in London in 1836 and in 1989 they purchased William Penn. William Penn is the name Legal & General writes business through in the state of New York.

Overall, William Penn is a great company with an eco-friendly, paperless process that works great.

Quotacy only works with top-rated life insurance companies, which means they are rated A or better and William Penn is no exception. Being A rated or better means the company is financially secure so you won’t have to worry about your policy’s death benefit not being paid.

To stand out in the competitive life insurance industry, some companies cater to different health or lifestyle niches. William Penn is excellent for applicants who are pregnant, stay-at-home parents, or have family health history problems. This means that William Penn treats these factors more favorably than other insurance companies.

William Penn is an Excellent Choice for:

  • Pregnancy (Third Trimester)
  • Stay-at-Home Parents
  • Family Health History (Cancer)
  • Accelerated Underwriting
  • Healthy Individuals

 
 
Let’s talk about what we like in regards to William Penn’s life insurance policies and buying process.

William Penn’s level term product is called OPTerm and is sold in term amounts of 10, 15, 20, 25, and 30 years. The smallest amount of term life insurance you can purchase through a William Penn term policy is $100,000. And this is pretty standard.

William Penn’s OPTerm® Policy

Available Term Lengths

10, 15, 20, 25, and 30-year policies available (depending on applicant’s age)

Available Coverage Amounts

$100,000 and up

Grace Period for Missed Payments

31 Days

 

Overall, William Penn is a great company with an eco-friendly, paperless process that works great.

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Depending on the life insurance product, there will be different policy riders available. Life insurance policy riders are additional benefits you can add onto your policy at the time of purchase. William Penn’s term policy offers an Accelerated Death Benefit Rider and a Premium Waiver for Disability Rider.

Available Riders on William Penn policies

Accelerated Death Benefit Rider

(Included in all William Penn policies)

Premium Waiver for Disability

(Available at additional cost)

 
 
Let’s break these down.

Accelerated Death Benefit Rider

This rider is included in your policy at no charge. It gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in 12 months or less to live.

 
 
An Accelerated Death Benefit Rider is included in William Penn term policies at no charge. This rider gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in 12 months or less to live.

Premium Waiver for Disability

(Available for an additional cost)
 
If you purchase this rider, William Penn will waive premium payments during a period of total disability lasting six consecutive months or more. The waived payments don’t have to be paid back. This rider is not available on all policies and its cost varies by age.

 
 
A Premium Waiver for Disability Rider is available on William Penn term policies for an additional cost. With this rider, William Penn will waive your premium payments during a period of total disability lasting six consecutive months or more.

If you’re looking for life insurance, William Penn is a good option. If you’re pregnant, have family health history issues, or you’re a stay-at-home parent, then William Penn is a great option.

» Compare: Term life insurance quotes

When you apply through Quotacy, we’ll review your application to double-check that you’ve chosen to apply to a company that will give you the most favorable outcome. The final choice is of course 100% your decision. We simply aim to be completely transparent and make sure you know all your options.

If you’re interested in any of the riders we mentioned, let your Quotacy agent know after you apply. They’ll let you know the exact cost of any rider you want to purchase and can add it to your policy during the buying process. Quotacy can help you get life insurance from William Penn or any of the other top-rated life insurance companies we work with.

And why should you get life insurance through Quotacy?

Our agents are licensed in all 50 states. And they work on salary, not a commission, so we’ll never try and upsell you. We work for you, not the insurance companies. You won’t pay any extra fees or charges to use our services.

Get a free instant term life insurance quote now from multiple top-rated life insurance companies without giving away any contact information. Bye!

 

About the writer

Headshot of Natasha Cornelius, a life insurance writer, for Quotacy, Inc.

Natasha Cornelius

Writer, Editor, and Co-host of Quotacy's Q&A Fridays

Natasha is the content manager and editor for Quotacy. She has been in the life insurance industry since 2010 and has been making life insurance easier to understand with her writing since 2014. When not at work, she's probably studying and working toward her Chartered Life Underwriter (CLU) designation while throwing a tennis ball for her pitbull mix, Emmett, or curled up on her couch watching Netflix. If it’s football season, the Packers game will be on. Connect with her on LinkedIn.