Guaranteed Issue Life Insurance. Whole life insurance offers permanent, lifetime coverage. Life Insurance Review. Term life insurance is straightforward protection that covers you for a set period of time-the term. It can be one of the most affordable ways to buy life insurance. 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. Get the peace of mind that our affordable term life insurance policy offers plus the added security of an Early Payout Option. Colonial Penn sells a lot of guaranteed acceptance life insurance policies. Colonial Penn Life Insurance Company History. How does this add up? There Are 3 Kinds Of Colonial Penn Life Insurance For Seniors. Colonial Penn’s guaranteed issue whole life insurance policy is available for ages 50 to 85. This term policy is guaranteed renewable up to age 90, even if your health has changed. 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. Like other final expense life insurance policies, it does not require a medical exam, but is has a graded benefit. 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. Colonial Penn Life Insurance Company offers three main types of life insurance policies. Internet . 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. 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. Renewable Term Life Insurance + an Early Payout Option. In its TV ads, Colonial Penn advertises life insurance coverage starting at $9.95 per month for its Guaranteed Acceptance Life Insurance. Colonial Penn offers competitive insurance rates compared to other guaranteed issue life insurance companies. It always comes with a two year waiting period before it … Flexible coverage for now (while you’re living) and later for your family. 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. Protect yourself and your family with a Living Insurance plan. Colonial Penn Life Insurance. More than likely this is the policy you’ve seen advertised on TV. Guaranteed acceptance policies do not require a medical exam and ask very few health questions. While … 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. 2 for 30 years, one for 20 years and it seems the $41 a month we paid, just gave her $3,100 in benifits. Colonial Penn: An Overview This finance and insurance company was founded over a half-century ago in 1968. They began offering guaranteed acceptance life back in the 1960s, and … Just about anyone within the right age range (50-85) is guaranteed coverage. Colonial Penn Life Insurance My grandmother, Dorothy Kathleen Taylor paid for 3 policies. Colonial Penn primarily markets their guaranteed acceptance whole life insurance which is a policy that has no medical underwriting whatsoever. Overall, Colonial Penn has a lot of options for people aged 50-85 to choose from. 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