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Colonial penn life insurance3/10/2023 If you’re in the market for affordable life insurance, Colonial Penn may just be the right insurance company for you. Renewable term life insurance (ages 18-75)įor individuals of almost any age, Colonial Penn offers a type of life insurance suited to their needs.Permanent whole life insurance (ages 40-75).Guaranteed acceptance (whole) life insurance (ages 50-85).They have a few coverage options available, including: What Type of Insurance Does Colonial Penn Offer?Ĭolonial Penn is a specialized insurance company that focuses on life insurance. No claims response time frame or official claims process provided. Customer complaints across multiple websites.Colonial Penn Insurance Company Pros and Cons: However, Colonial Penn does have excellent ratings through both AM Best and the BBB. A concerning volume of customer dissatisfaction overall knocks the carrier down a couple of stars automatically. The carrier also lacks an option for customers to file claims online or over the phone, which in comparison to other modern insurance companies, makes them seem extremely dated. In fact, during our updated review, it seems that customer reviews of this insurance company have only gotten worse.įurther, the carrier’s official website is sorely lacking in terms of important information like claims processes and response time frames. Several customers state that they were denied coverage by Colonial Penn based on their medical history or current health status. While the carrier promises it offers life insurance with no medical exam required, many concerning customer reviews have stated that this is false advertising. awards Colonial Penn an overall rating of 2 out of 5 stars. Trusted Choice's Colonial Penn Insurance Score:
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