Colonial Penn Life Insurance Company
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Colonial Penn Life Insurance Company was founded in the 1960’s to offer insurance directly to consumers at affordable pr ices. It has grown until now it holds over 800,000 life insurance policies with over $1 billion of life insurance in force. Colonial Penn Life Insurance Company also has over $2 billion in total assets. This innovative company was one of the first in this country to offer a guaranteed acceptance life insurance plan. In 2002, Bankers Life and Casualty joined the Colonial Penn Life Insurance Company and its parent company, the Conseco Group, to increase the company’s life insurance options. Conseco Group is a Fortune 500 Company, with over 5 million customers. The goal of these companies is to provide services for working families and seniors.
This totally customer-focused company offers various term life, permanent life, and guaranteed life insurance products. These polices are especially formulated for those who may have insurance but may be under-insured. There may be a need for extra insurance to cover tuition, credit card debt, high medical costs, or final expenses. These policies help preserve a family’s assets after a death.
Colonial Penn Insurance Products
- Term life insurance policies are available for coverage up to age 77.
- Five-year renewable term insurance is available to age 75. No medical exams are necessary. Face amounts of $5,000, $10,000, $15,000, $20,000, and $25,000 are available.
- Full benefits are available from the first day of the policy.
- Twenty-year term life policies will lock in premiums without a physical exam. These policies are available from age 18 to age 77.
- Accelerated death benefits are available in case of a terminal illness.
Colonial Penn Ratings
Standard and Poor’s: BB+
A.M. Best: B++
Fitch: BBB
Moody’s: Ba1
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
Colonial Penn Life InsurancE Company Information
399 Market Street
Philadelphia, PA 19181
Request a free life insurance quote today.
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Last Updated: June 16, 2009
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