HomepageInsuranceLifeColonial Penn Insurance Review 2022

Colonial Penn Insurance Review 2022

Reviews.com reviews products and services to help you make well-informed choices. Although, our writers and editors follow a strict methodology for presenting information, our posts may reference products from our partners. For more information, learn how we make money. This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our
Insurance Disclosure This content is powered powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Reviews.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Compare Rates
30-day money-back guarantee on all plans
Guaranteed acceptance life insurance available
Service available in all 50 states

Show Similar Products

Advertiser Disclosure

Close icon.

We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

Reviews Report

  • Colonial Penn offers three types of life insurance — whole life, guaranteed acceptance whole life, and whole life with living benefits.
  • The company’s online tools may be appealing to those who like to handle their policies digitally.
  • None of Colonial Penn’s current life insurance offerings require a medical exam.

Colonial Penn, owned by CNO Financial Group, sells life insurance and supplemental health insurance and has done so for over 60 years. The company allows customers to buy coverage online, by phone, or by mail. Colonial Penn focuses on five key values: diversity, equity, inclusion; integrity; customer focus; excellence; and teamwork. Reviews.com’s research may help you decide if Colonial Penn insurance is the best life insurance company for your needs.

Colonial Penn Insurance Overview

Life insurance
J.D. Power Customer Satisfaction Score*Not rated
AM Best Financial StrengthA (Excellent)

*Based on J.D. Power’s 2021 Individual Life Insurance Study

Colonial Penn Life Insurance

Colonial Penn life insurance comes in three forms: whole life, guaranteed acceptance whole life, and whole life with living benefits. The company does not offer term life insurance or universal life insurance. Because its product range is limited, Colonial Penn may not be the best life insurance company if you’re looking for several options.

However, if you are interested in whole life insurance, Colonial Penn could be a good option. None of the policies require a medical exam and instead use a questionnaire with health questions. If you are worried about being approved for coverage due to health issues, you could opt for the guaranteed acceptance option, available if you’re between the ages of 50 and 85.

Strengths: Three whole life options, no medical exams required, guaranteed acceptance option available

Restrictions: No term or universal life; guaranteed acceptance is limited to ages 50-85

Frequently Asked Questions

About the Authors

Cate Deventer

Cate Deventer Insurance Editor

Cate Deventer is a writer and licensed insurance agent. She has a Bachelor’s degree in theatre and is currently pursuing a degree in English with a concentration in professional and technical writing from Indiana University East. Her work has been featured on Reviews.com and Bankrate.com, and she’s passionate about helping people take charge of their finances. In her free time, she likes to read thrillers and sci-fi novels, garden, and toss tennis balls for her dog.

Table Of Contents