Though you have to answer a questionnaire about your medical history, you aren’t required to take a medical exam.Ĭolonial Penn isn’t the only insurance company providing policies that don’t require a medical exam. However, they discontinued that product and only sell whole life insurance currently. However, unlike many term policies, you can choose to renew your Colonial Penn Life Insurance policy until you turn 90 years old. At one point, Colonial Penn did offer term life insurance. Renewable Term Life InsuranceĪpplicants for Colonial Penn’s term life insurance policy must be between 18 and 75 years old. Still, you will have to answer a few questions to determine your eligibility for this policy. Like the guaranteed acceptance life insurance policy, you won’t have to set aside time for a medical exam. Over the years, Colonial Penn has focused on selling life insurance that is specifically designed for seniors and older customers. Once this whole life insurance policy is active, it can build cash value. You should consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances. You can purchase as little as $50,000 in coverage with this policy, and you must make your payments on time to keep this policy in good standing. Whole Life InsuranceĪpplicants between the ages of 40 and 75 are eligible for Colonial Penn’s whole life insurance plan. The Colonial Penn guaranteed acceptance life insurance policy will also build cash value after being active for one year. Such policies are an excellent choice for seniors or individuals with health concerns. When applying for this type of policy, you won’t have to take a medical exam or answer health questions. Guaranteed Acceptance Life InsuranceĪpplicants for Colonial Penn’s guaranteed acceptance life insurance policy must be between 50 and 85 years old. So let’s take a closer look at each policy to determine which one could be the best fit for your specific coverage needs. These plans include:Įach of these plans has unique features. Secured with SHA-256 Encryption What life insurance does Colonial Penn offer seniors?Ĭolonial Penn offers four life insurance plans. If you have a question about a Colonial Penn policy, you can call 1-80 or use the company’s live chat tool to get the answers you need. While there isn’t a tool to get a quote for supplemental health insurance online, Colonial Penn allows you to apply for a life insurance quote directly from its website. It is now a subsidiary of the CNO Financial Group.Ĭolonial Penn offers life insurance along with other products like supplemental health insurance. Leonard Davis, an AARP co-founder, set the Colonial Life Insurance Company into operation in 1968. What is the Colonial Penn Life Insurance Company? What You Need to Know About Colonial Penn.Is it easy to file a claim with Colonial Penn?.Is Colonial Penn life insurance for seniors affordable?.What life insurance does Colonial Penn offer seniors?.What is the Colonial Penn Life Insurance Company?.
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