Colonial Penn offers both term and whole life insurance coverage. Term is designed to offer protection against financial loss from unexpected events, such as a serious illness or accident, while whole life insurance offers lifetime coverage for your family.
About Colonial Penn life insurance
Colonial Penn life insurance is a company that provides life insurance coverage to its policyholders. The company was founded in 1968 and is headquartered in Philadelphia, Pennsylvania. It is a subsidiary of CNO Financial Group.
The company offers two types of life insurance policies: whole life and term life. Whole life policies provide coverage for the policyholder’s entire life, while term life policies provide coverage for a specific period of time, such as 10, 20, or 30 years.
Colonial Penn’s whole life policy is called “Guaranteed Issue Life Insurance.” This policy does not require a medical exam and is available to people between the ages of 50 and 85. The death benefit for this policy is $50,000.
The company’s term life policy is called “Term Life Insurance.” This policy requires a medical exam and is available to people between the ages of 18 and 65. The death benefit for this policy ranges from $5,000 to $25,000.
Both whole life and term life policies have premiums that are payable monthly, quarterly, semi-annually, or annually. Policyholders can choose to pay their premiums with automatic bank drafts or by mailing in a check.
Pros and Cons of Colonial Penn Life Insurance
There are a lot of life insurance companies out there, so it can be tough to know which one is right for you. If you’re considering Colonial Penn Life Insurance, here are some pros and cons to help you make your decision.
Pros:
-Colonial Penn has been around for over 50 years, so they have a lot of experience in the industry.
-They offer a variety of life insurance products, so you can find the coverage that’s right for you.
-Their rates are very competitive, so you can get a great deal on coverage.
Cons:
-Some of their life insurance products have high fees and commissions, so make sure to read the fine print before buying.
-They have been known to cancel policies without warning or refund, so make sure you understand their cancellation policy before buying.
How to get a quote for Colonial Penn Life Insurance?
If you’re looking for a life insurance quote from Colonial Penn, the process is simple. Just head to their website and fill out a short form with your personal information. In just a few minutes, you’ll be able to compare quotes from multiple carriers and find the coverage that’s right for you.
Where Can I Get My Life Insurance Quote
There are many life insurance companies out there and it can be hard to choose the right one. You want to make sure you are getting the best coverage for your needs and that the company is reputable. Colonial Penn Life Insurance is a great option for life insurance. They have been around for over 50 years and have an A+ rating with the Better Business Bureau. They offer a variety of life insurance policies to meet your needs and their rates are very competitive. You can get a quote from Colonial Penn Life Insurance online or by calling their toll-free number.