Colonial Penn Life Insurance Review & Customer Support

The life insurance industry has become increasingly competitive in recent years. There are now more than a dozen major providers competing to be the best, and rates have been dropping steadily as a result. So how do you choose the right company? In this review of Colonial Penn Life Insurance Company, we will explore what makes them unique and why they might be the perfect choice for your needs.

Colonial Penn Life Insurance Company Review

Colonial Penn Life Insurance Review - Colonial Penn Logo

Family-Friendly The Colonial Penn staff is open and available 24 hours a day, 7 days a week to answer questions and meet any potential clients. Employees enjoy enjoying lunches, dinners and other social events to further their chances of building strong relationships with clients. Striving to Achieve Colonial Penn Life Insurance Company not only strives to provide superior coverage, but they also aim to be the best, offering a low lifetime payout ratio. This means they will insure you for as long as you need them, but the rest of your life is insured separately.

For example, if you die tomorrow, their guarantee policy will continue to pay your spouse and children benefits until they reach the age of 65.

What is Colonial Penn Life Insurance Company?

Colonial Penn Life Insurance Company is one of a number of leading companies that comprise the Colonial Penn Life Insurance Group, which has been serving Pennsylvania and its surrounding areas since 1984. In order to ensure that they serve their clients well, Colonial Penn Life Insurance Group provides them with a range of insurance plans, including life insurance, annuities, Medicare supplements, investments, and more.

What to Look for There are three main things to consider when choosing a life insurance policy: 1) where you get the coverage, 2) what type of coverage you want, and 3) how much coverage you need. Colonial Penn Life Insurance Company offers clients the opportunity to purchase life insurance in Pennsylvania.

What Is Colonial Penn Life Insurance Company’s History

The Colonial Penn Life Insurance Company (commonly referred to as simply Colonial Penn) is an American life insurance company headquartered in Philadelphia, Pennsylvania, and owned by CNO Financial Group.

It was founded by philanthropist and AARP co-founder Leonard Davis. Colonial Penn, which began with a marketing campaign targeted at people over 65 and became the origins of insurance offered by the American Association of Retired Persons, now known as AARP, now has a marketing campaign aimed at people between the ages of 50 and 85, specializing in “guaranteed acceptance whole life insurance” and to assist their families in covering funeral expenses after the individual passes away. The name “Colonial Penn” comes from the state in which the company was established (Pennsylvania), which was part of colonial America at the time.

What Are Colonial Penn Life Insurance Company’s Products

Colonial Penn Life Insurance Company has a variety of coverage options, ranging from term life to whole life. They offer a range of plans for every taste, including guaranteed issue, HMO, cash value and so much more. If you don’t want a whole life policy, they also offer term life policies that will guarantee the sum of your monthly premium.

You can choose a term policy that comes with a guarantee that you will pay a monthly premium for as long as you live, or a guaranteed issue policy which will pay you the total sum of the premium when you apply. Colonial Penn Life Insurance Company’s Plans and Costs You can learn more about what type of coverage you are interested in from the Colonial Penn website, but let’s begin by looking at what they are offering at the moment.

What Are Colonial Penn Life Insurance Company’s Rates

At the time of this writing, Colonial Penn Life Insurance Company offers a choice of either 15 or 20-year policies, with an age range from 18 to 100. So it would be up to you to decide whether you would prefer to purchase a term or whole life policy. In other words, they provide two distinct plans with different policies.

But if you’re just looking at policy rates, Colonial Penn Life Insurance Company is a very attractive option. With the low end of the rates they offer, you can purchase a 15-year policy for just around $50 a month. At the higher end of the scale, you can select a 20-year plan with the monthly rate as low as $55, which is very competitive with many other companies.

Should You Buy Colonial Penn Life Insurance ?

The answer to that question depends entirely on your age and your need for life insurance. For example, younger people will not typically be as concerned about risks or tax liabilities on death benefits, and will be more interested in cheaper premiums to use on everyday life expenses. This, in effect, means that they are more likely to shop around for cheaper prices and will therefore probably consider the cheaper, national carriers. As a result, buying policies from these companies may be very advantageous.

Check out our Metlife Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is the co-founder of QuoteYeti.com & LifeInsuranceGrades.com. He is an avid lover of creating amazing content to educate people about life insurance. He is a life-long explorer. When he's not writing about life insurance, he builds websites, and manages local marketing campaigns for insurance agents. He's based in Columbus, Ohio with his wife and 2 children.
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