Many carriers stop at age 80, so this is a good option for those who have waited until later in life. This policy is available for males and females between the ages of 50 and 85. The Policy is Available for Ages 50 to 85 As with all guaranteed acceptance products, people who select this type of policy are ones who have been declined for life insurance in the past. You cannot be turned away from this policy regardless of your past or current health standing. This policy is offered on a guaranteed basis, meaning there is zero medical underwriting or health questions. There are a few positives to choosing Colonial Penn for guaranteed acceptance life insurance. Pros of Colonial Penn Guaranteed Life Insurance Policy Overviewīelow are features from Colonial Penn’s Guaranteed Acceptance policy.įace Amount Range: $400 – $17,000 (based on units) At Guaranteed Issue Life, we represent multiple top rated life insurance companies for high-risk candidates, and usually, find a better policy with cheaper rates through a different carrier. You should compare Colonial Penn with other companies. Is Colonial Penn guaranteed life insurance right for you? In general, we do not recommend their policy because you can usually get a better rate with other companies. This means that the outlook for the company is stable.Ībout Colonial Penn Guaranteed Life InsuranceĬolonial Penn’s guaranteed life insurance policy has features similar to other guaranteed issue policies but is often more expensive.īelow, we will go over the pros and cons of their policy. The amount a company is paying in claimsĪs of February 8, 2017, Colonial Penn and CNO Financial Group have a rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-”.How much a company is collecting in premiums.There are a handful of agencies that report their own ratings, but the industry standard is through A.M. Knowing an insurance company’s financial strength allows you, the consumer, to know how likely they are to pay claims. Colonial Penn Life Insurance Company Ratings They are one of several guaranteed issue companies that put millions of dollars every year into marketing. These days the face of CP is Jeopardy host Alex Trebek who is a compensated endorser in advertisements. You may recognize Colonial Penn because of years of celebrity endorsements. Today, Colonial Penn serves people between the ages of 18 and 85 with their insurance products, and their specialty is in guaranteed issue whole life insurance. Colonial Penn’s original focus was on people over age 65. The company is owned by CNO Financial Group, a financial services organization headquartered in Carmel, Indiana. You can reach the company directly by calling 1-87 or visit online at .įounded in 1968 in Philadelphia, Colonial Penn Life Insurance Company is the brainchild of philanthropist and AARP co-founder, Leonard Davis. Whether you’re looking to secure an affordable policy to cover burial, cremation, final expenses, medical bills or personal debts, we can help you find the best company for your situation.ĭisclaimer: We are not Colonial Penn nor are we affiliated with Colonial Penn.
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