Colonial Penn Insurance Company
Colonial Penn Insurance Company
399 Market Street
Philadelphia, PA 19181
Are you tired of reading through all the fine print just to ensure that there are no hidden plan details for you to worry about? With Colonial Penn Insurance Company, you can put all those worries aside.
Colonial Penn Insurance Company makes your life easier by giving you all the information about your coverage upfront. You can get all the details that you need directly. Colonial Penn’s specialty is laying out the plan details directly to the policy owner for better intercommunication and establishment of trust. They even promote a scheme of 30-day free look of their plans. This kind of unique service can only come from a company where the people are dedicated to provide real service to the customers since its start more than 50 years ago.
Colonial Penn focuses on the direct selling of insurance to consumers at competitive prices. One key ingredient for the success of the company is the design of comprehensive life plans that are available to the policyholders at affordable prices. In 1968, Colonial Penn was one of the first insurance companies to offer a guaranteed acceptance policy that caters to people from age 50 and older. Aside from this important plan, the company also offers insurance coverage for people who are 18 years old and older.
Currently, Colonial Penn has around 850,000 life insurance plans and around $2.7 billion of life insurance. The company is rated B++ by Best Insurance Reports, and B++ or good by A.M. Best Rating.
The company has a whole range of products that are designed to excite you and provide you with potential alternatives to future financial requirements and security. These products include Guaranteed Acceptance Life Insurance, Life Choice Whole Life Choice Insurance, 5-Year Renewable Term Life Insurance, and 20-Year Term Life Insurance.
Guaranteed Acceptance Life Insurance is a special coverage that is designed for seniors aged 50-85. Under this coverage, the customer is assured that there are no health considerations to be used as a basis for disqualification from the plan. To reaffirm this, the company assures that no questions regarding physical health are asked and no qualifying physical examinations are to be taken.
Life Choice Whole Choice Life Insurance is an insurance plan that is applicable to customers aged 45-75. One of the benefits of this plan is its capability to build up monetary value after the first year. The amounts of cash benefits can be in denominations of $5,000 and can be from $5,000 up to $25,000. Like the Guaranteed Acceptance plan, there is no medical examination required for qualification into this program; however, a few select questions regarding physical health may be asked from the would-be insured.
Five-Year Renewable Term Life Insurance is a reasonably priced level term plan offered to people who are 18-75 years of age. Just like Guaranteed Acceptance and Life Choice coverage, no medical exam is required for eligibility. Only a few questions regarding your health are sufficient to determine your compatibility and acceptance for the plan.
Twenty-Year Renewable Term Life Insurance, on the other hand, locks your payments and cash benefits for a period of 20 years. The cash benefits range from $5,000 to $ 25,000, in increments of $5,000. This coverage is available for customers 18-77 years of age.
These products mirror the simple and straightforward way that Colonial Penn does its business. There are no hidden agendas, rather, a direct approach to show the policyholders that the company is here to stay and provide the best insurance service with full transparency, security and confidence.
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- Whole Life Insurance
- What is a Universal Life Insurance?
- Waiver of Premium
- Waiting Period
- Voluntary Reserve
- Viatical Settlement Provider
- Variable Universal Life Insurance
- Variable Annuitization