The maximum coverage amount for this policy is $50,000. Like all whole life plans, Colonial Penn Life Insurance Company offers a cash accumulation benefit along with the chosen death benefit. While this plan also has no medical exam, some medical and health questions will be taken into account during underwriting. The basic whole life plan from the life insurance company can be taken out a little younger, starting at age 40. Our quote returned a maximum death benefit amount of $14,288, and we explain this odd amount and how Colonial Penn Life Insurance Company determines it in further detail in the rates section below. The site does not list the available life insurance benefit amounts but states that life coverage benefits can be seen when running a quote, this is because life insurance benefit amounts are determined based on applicant information. Guaranteed Acceptance Life is a popular plan that offers flexible payments, from monthly to annually, and a range of benefit amounts. With no medical exam requirement and the eligibility in any case of pre-existing conditions makes this plan stick out, especially with this life insurance provider’s focus on providing insurance for seniors. The plan, as the name implies, guarantees issue regardless of what medical conditions may exist. While it has no medical exams or questions, there is a two-year limited benefit period from the date of issue. What is guaranteed acceptance life insurance?Ĭolonial Penn’s whole type of life insurance plan is offered to those between the ages of 50 and 85. All types of policies offered by the the company come with a 30-day money-back cancellation period. What type of policy do you need? Keeping things simple, Colonial Penn Life Insurance Company has only three types of life insurance options to choose from, including their best-known guaranteed acceptance policy. Secured with SHA-256 Encryption What are Colonial Penn life insurance coverage options? They have moved into the new age, however, offering online services in addition to their phone and direct mail approaches. In addition to their simplified issue policies for the over 50 market, the company also offers whole life insurance and term life insurance plans to a wider age range.Ĭolonial Penn’s headquarters is in Philadelphia, PA, and they remain true to their roots as a direct market life insurance company. Alex Trebek was the face of Colonial Penn for years. ![]() The Colonial Penn program directs much of its advertising at the 50 plus market, using a series of paid celebrity endorsers that have included Ed McMahon and Joe Theismann. For a brief period of time, Colonial Penn operated under the name Conseco Direct Life before returning to the more recognizable brand. The company was purchased by Conseco, now known as CNO Financial Group, in 1997. Are there any medical exams required for Colonial Penn life insurance policies?Ĭolonial Penn was founded in 1968 by AARP co-founder Leonard Davis, which makes it not at all surprising that the retired and senior market has always been the company’s main target audience.Can I convert my term life insurance policy to whole life coverage with Colonial Penn?.Can I increase the coverage amount of my Colonial Penn life insurance policy?.What are the age requirements for Colonial Penn life insurance?.How can I get free insurance quotes from Colonial Penn?.Colonial Penn Life Insurance Review: What’s the bottom line?.Enhanced Digital and Technological Features at Colonial Penn Life Insurance. ![]() Customer Feedback on Claim Resolutions and Payouts.Effortless Claims Processing With Colonial Penn Life Insurance.How are the financial strength ratings, Colonial Penn customer reviews & customer complaints?.How much is a unit of Colonial Penn life insurance?.What is guaranteed acceptance life insurance?. ![]() ![]()
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