Colonial Penn Life Insurance Reviews
Most of the complaints are regarding customer service and a customer s having a hard time collecting death claims.
Colonial penn life insurance reviews - Compare colonial penn insurance quotes online before buying a policy. Colonial penn insurance review colonial penn insurance reviews reveal a company rating of a with the better business bureau but colonial penn insurance rates are not the best value when it comes to your life insurance policy. Colonial penn offers a 1 year level term life insurance policy meaning you essentially start a new term each year.
Colonial penn founded by the co founder of aarp has been around since 1968. Colonial penn life insurance 9 95 per month per unit of coverage is a straightforward pricing approach that makes it popular for senior life insurance. A medical exam isn t required but there are health questions.
Their term life policy also has a limited death benefit with the maximum value being 50 000 which can be designated to either 1 or 2 beneficiaries. 64 colonial penn life insurance reviews. As can probably tell from this review we aren t the biggest fans of the colonial penn life insurance company.
Mostly due to the fact that they weren t aware of the 2 year waiting period. Colonial penn life insurance reviews focus on its guaranteed acceptance life insurance although colonial penn whole life and colonial penn term life coverage are both available. If you shopping for a colonial penn plan or already have one of their policies we d recommend shopping around especially if you re healthy.
Colonial penn was started by one of the cofounders of aarp to bring coverage to a previously unthought of group. A free inside look at company reviews and salaries posted anonymously by employees. Life insurance options from colonial penn include.
Applicants ages 18 to 75 can buy up to 50 000 of term life insurance. Colonial penn has been in the life insurance business for more than six decades. The provider offers life insurance policies in 49 states the district of columbia puerto rico and the virgin islands.
The truth about colonial penn life insurance. Fittingly the colonial penn we know today is probably best known because of alex trebek who stars in daytime tv commercials selling guaranteed issue life insurance for people 50 85 who says you can get coverage for 9 95 per month. They started as a life insurance company for people aged 65 and older but today they ve included a term life insurance policy for people aged 18 to 75 and a whole life policy for people aged 40 to 75.
