Colonial Penn Life Insurance My grandmother, Dorothy Kathleen Taylor paid for 3 policies. It always comes with a two year waiting period before it … Colonial Penn primarily markets their guaranteed acceptance whole life insurance which is a policy that has no medical underwriting whatsoever. Their policies are best for those looking for low payouts and those who wouldn’t qualify for underwritten life insurance policies because of medical conditions or poor lifestyle habits. There Are 3 Kinds Of Colonial Penn Life Insurance For Seniors. If you’re worried about getting approval because of some pre-existing health conditions, Colonial Penn could be a great option, as the company has its guaranteed acceptance life Insurance option. In its TV ads, Colonial Penn advertises life insurance coverage starting at $9.95 per month for its Guaranteed Acceptance Life Insurance. Guaranteed Issue Life Insurance. Colonial Penn Life Insurance Company Life Claims Dept PO Box 1918 Carmel, IN 46082-1918 NY Residents: Bankers Conseco Life Insurance Company Life Claims Dept PO Box 1918 Carmel, IN 46082-1918 A claimant’s statement form can be found on Colonial Penn’s website here , but there is no option to file a claim online. While … Like other final expense life insurance policies, it does not require a medical exam, but is has a graded benefit. Colonial Penn Life Insurance. Colonial Penn: An Overview This finance and insurance company was founded over a half-century ago in 1968. This term policy is guaranteed renewable up to age 90, even if your health has changed. Overall, Colonial Penn has a lot of options for people aged 50-85 to choose from. Based on customer reviews, pricing, and underwriting practices; Colonial Penn is best for customers who can not get guaranteed acceptance life insurance from any other life insurance company. When selecting an insurance company, it is essential to know about different terms like “guaranteed acceptance” and “whole life insurance” so you can choose wisely. More than likely this is the policy you’ve seen advertised on TV. They began offering guaranteed acceptance life back in the 1960s, and … Colonial Penn Life Insurance Company History. Colonial Penn offers competitive insurance rates compared to other guaranteed issue life insurance companies. Internet . Life Insurance Review. How does this add up? Colonial Penn’s guaranteed issue whole life insurance policy is available for ages 50 to 85. Just about anyone within the right age range (50-85) is guaranteed coverage. It can be one of the most affordable ways to buy life insurance. Guaranteed acceptance policies do not require a medical exam and ask very few health questions. Renewable Term Life Insurance + an Early Payout Option. Get the peace of mind that our affordable term life insurance policy offers plus the added security of an Early Payout Option. Colonial Penn Life Insurance Company was one of the first life insurance companies to offer final expense and other kinds of life insurance for seniors. Term life insurance is straightforward protection that covers you for a set period of time-the term. Colonial Penn Life Insurance Company offers three main types of life insurance policies. Whole life insurance offers permanent, lifetime coverage. Protect yourself and your family with a Living Insurance plan. Colonial Penn sells a lot of guaranteed acceptance life insurance policies. 2 for 30 years, one for 20 years and it seems the $41 a month we paid, just gave her $3,100 in benifits. Guaranteed Acceptance Life Insurance is available in New York, and Whole life insurance is available in all states except the Virgin Islands and New York. 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