Colonial Penn Life Insurance Review

Colonial Penn life insurance was one of the first insurance companies to establish policies specifically for older adults, providing guaranteed acceptance policies in 1968. Today, with several guaranteed acceptance policies that do not require medical exams, their wide range of policy options provides excellent coverage for customers of all ages, but particularly good choices for seniors. Colonial Penn provides over eight hundred thousand policies for customers across the United States, and has been in business for over fifty years. The only state in which Colonial Penn is not licensed to provide insurance is the state of New York.

Colonial Penn offers both term and whole life insurance policies so that you can choose whether to simply purchase insurance or add investment options to your policy to help provide for your retirement. As with most insurance companies, whole life policies offered by Colonial Penn life insurance tend to have higher premiums than term life. If you have other investments, such as a 401K or IRA, term life might be sufficient for your needs. The size of your individual policy should be based upon your individual needs. Your family will need to be provided with enough money to manage immediate costs after your death, such as outstanding debt and funeral expenses.

Colonial Penn sells insurance projects directly to consumers. On its website, the company offers extensive information as well as instant quotes and a link where you can ask to have a Colonial Penn representative call you directly to discuss your insurance needs. These extensive and detailed resources can help you find just the right Colonial Penn life insurance policy to help you provide for your family. Colonial Penn is a well-established company with an excellent reputation, and overall is a good choice for life insurance, regardless of your age or individual needs.