July, 26 2017

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Colonial Penn Life Insurance Company Review

Colonial Penn Life Insurance Company Review

Author
  • Price
  • Underwriting
  • Financial Strength

Colonial Penn Life Insurance Company Review

Pros: Colonial Penn’s website offers instant quotes and is easy to navigate.  Colonial Penn offers two products without an medical exam; a guarantee acceptance policy with a two year waiting period for natural causes and a simplified issue whole life insurance policy with a few health questions.

Cons:  Price- Colonial Penn seems to be a little more expensive compared to other companies offering a similar policy.  Additionally, as with most companies who offer guaranteed acceptance life insurance, many people have posted complaints online about being unaware that the guaranteed acceptance life insurance has a two-year waiting period for natural causes.

Bottom Line:  Colonial Penn has a large advertising presence on TV with their compensated endorser Alex Trebek and are owned by Conseco, one of the largest life insurers in the U.S.  The Colonial Penn website is very easy to read and provides instant easy to read quotes.  However, in reviewing their rates they seem to be competitive but a tad higher then some of their competitors such as AARP and Mutual of Omaha. With all the companies we review, we recommend that you receive a quote from Colonial Penn and from the other top life insurance companies and choose the best one for you.

 

About

Type: Subsidiary of Conseco- Public- NYSE traded as CNO

Underwriter: Colonial Penn Life Insurance Company

Founded: 1968

Website: colonialpenn.com

Phone: (877) 877-8052

Address: 399 Market Street, Philadelphia, PA 19106

A.M Best Rating: A- (Excellent) Fifth highest of 16 possible ratings

Comdex Ranking: 54 out of 100

BBB Rating: N/A

Competitors: AARP, Mutual of Omaha, Gerber Life, Globe Life, United Home Life Insurance Company, American National, Assurity Life, 5 Star Life Insurance Company, Americo, MetLife, Transamerica, Protective Life, Banner Life, AAA, State Farm, SBLI, American General Life (AIG), North American Company Life, Voya.

 

 

Colonial Penn Life Insurance Company Review

Instant rate quote from Colonial Penn Life Insurance here.  After receiving a quote come back and click on the green button below and compare rates from the top life insurance companies in America.

 

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