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Colonial Penn Life Insurance Company

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Colonial Penn offers life insurance products to individuals from the minimum age of 18 to a maximum age of 80 years old. They describe their mission as providing uncomplicated and affordable life insurance products directly to individuals. Colonial Penn reflects their mission in the range of life insurance plans they offer and the manner in which they are administered. They aim to provide simple to understand plans with policy documents that are easy to read.

Products from Colonial Penn vary widely and carry different benefits. Among the most popular products are:

  • Guaranteed Acceptance Life Insurance, in which there are no health questions or physicals for applicants from ages 50 to 85 (in most states),
  • 5 Year Renewable Term Life Insurance, for which no medical exams are needed,
  • 20 Year Term Life Insurance, in which your premiums and benefits are guaranteed for twenty years, and
  • Life Choice® Whole Life Insurance, which builds a cash value after the very first year.

Colonial Penn's newest product is called the Family Protector Plan, an affordable term life insurance that offers up to 100,000 in coverage, with no medical exam, and locked in premiums.

Contacting Colonial Penn Life Insurance Company

Colonial Penn Life Insurance Company
399 Market Street
Philadelphia, PA 19181

Colonial Penn's History

Colonial Penn has been operating for over 50 years and is proud of the fact that in 1968 they became one of the first insurance companies to provide guaranteed acceptance life insurance to clients aged 50 and over. Today, they strive to provide consumers with old-fashioned service and new-fangled technology at the same time. Colonial Penn has sold over 800,000 life insurance policies worth $1 billion to clients across America.

Colonial Penn's Ratings

  • A.M. Best: B+
  • Fitch: BBB-

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