Colonial Penn Auto Insurance Review

Looking for Colonial Penn auto insurance quotes? They only offer life insurance so to get an online auto insurance quote today, enter your ZIP below or read this review of Colonial Penn.

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Company Details

Address:

399 Market Street

City:
Philadelphia
State:
PA
ZIP Code:
19106
Phone Number:
877-877-8052
Year Founded
1879
AM Best Rating:
B++
Company Rating 0 (0 reviews)

Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Written by

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
Licensed Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/aiorg-live/d98a9f52-daniel-walker.png

UPDATED: Apr 28, 2020

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Things to remember...

  • Colonial Penn Insurance Company is a life insurance company and does not sell other types of insurance
  • Colonial Penn Insurance Company was originally founded in 1879 and is known as one of the oldest continuously operating life insurance companies in the nation
  • Colonial Penn is currently licensed in 49 states, as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands

If you are looking for Colonial Penn auto insurance quotes, you should know that Colonial Penn Insurance Company is a life insurance company and does not sell other types of insurance. They specialize in offering life insurance products directly to consumers at affordable prices.

Their original focus was on meeting the life insurance needs of the elderly and older individuals; however, they now sell life insurance plans for people age 18 and older.

If you’re looking for companies that specialize in auto insurance, enter your ZIP code above to begin comparing auto insurance rates today, or continue reading this review of Colonial Penn Insurance Company.

Colonial Penn Insurance History

Colonial Penn Insurance Company was originally founded in 1879 and is known as one of the oldest continuously operating life insurance companies in the nation.

Colonial Penn was called Conseco Direct Life Insurance Company until 2002 when the name was changed.

Colonial Penn is now a subsidiary of Conseco, Inc. In 1968, the company became one of the first to offer a plan where older individuals were guaranteed to be accepted without a medical exam.

Colonial Penn is currently licensed in 49 states, as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands.

They are not licensed and do not market their products in the state of New York. Instead, New York residents can visit https://colonialpenn.com/wholelife. Whole Life is owned by Colonial Penn.

While Colonial Penn does not sell car insurance, you can contact Colonial Penn for a life insurance quote or with specific questions via phone, fax, or regular mail. You can also find information plus an online contact form on Colonial Penn’s company website.

Colonial Penn’s contact information is:

399 Market St.
Philadelphia, PA 19181

Phone: 215-928-8000
Toll-Free: 877-877-8052
Fax: 215-928-8710

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What kinds of insurance does Colonial Penn Insurance offer?

Colonial Penn is also the owner of EZIssue Life. Essentially, the EZ website is exactly the same as Colonial Penn’s website, except for the products that they sell are also available in NY.

It isn’t clear why you can purchase EZ insurance in NY but not Colonial Penn insurance.

Colonial Penn sells four different product types. Their products include:

  • Guaranteed Acceptance Life Insurance
  • LifeChoice Whole Life Insurance
  • 5 Year Renewable Term Life Insurance
  • 20 Year Term Life Insurance

Each of these insurance products is geared towards a specific age group. For example, Guaranteed Acceptance is only for men and women ages 50 to 85 while 20 Year Term Life is available for ages 18-77.

The maximum amount of insurance that you can purchase from Colonial Penn is $25,000. However, you can purchase multiple policies from Colonial Penn for the same person.

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Colonial Penn Insurance Agents

Colonial Penn products are purchased directly from their company. However, they only have one office, which is located in Philadelphia.

Keep in mind that life insurance isn’t like auto insurance because you aren’t going to have to file a claim more than once.

For many people the absence of independent agents or local agents is a deal-breaker for any kind of insurance; however, before you make that decision, you should take the time to review their products.

Colonial Penn Insurance Locations

As mentioned above, Colonial Penn only has a single location.

Their address is:

399 Market Street
Philadelphia, Pennsylvania 19181

The lack of multiple locations doesn’t have anything to do with the success of this company. Many smaller life insurance companies only maintain one location in which they work from because it is more affordable and helps them keep their costs down for their customers.

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How do I file a claim with Colonial Penn?

In order to make a claim with Colonial Penn, you do have to provide the company with a copy of the death certificate of the insured.

The process is quite simple and there are only two pieces of information required, a statement from the beneficiary and a certified copy of the insured person.

This information is sent to the Life Claims Department at 2250 399 Market Street, Philadelphia, PA 19181-2250, along with a claims form, which can be downloaded online.

If you can’t or don’t want to download a form, you can call the company and they will mail or fax one to you.

Colonial Penn Insurance Customer Service

 

Essentially, Colonial Penn’s customer service department is online. Although they do have phone numbers you can call to contact the company, they do ask that you attempt to find your answers online first.

In fact, they address the reasons that you might want to call, which include canceling your coverage, changing your address, or questions about your specific benefits.

Most of what you need to do can be handled online. There is a FAQ section that covers topics such as:

  • How to pay your bill online
  • Combining multiple policies into one bill
  • Getting extra copies of your policy
  • Changing your beneficiary

How do I get a quote from Colonial Penn?

Thought you can’t get a Colonial Penn auto insurance quote because Colonial Penn does not offer auto insurance coverage, what is nice about the Colonial Penn website is that you can get a quote for any of their products online. The downside is that you will have to provide them with your email address before you can even start the quote process, which for many people may feel intrusive.

However, for those of you who want to get a quote for life insurance but don’t want the hassle of talking to an agent and getting a sales pitch, having this quote option makes the process easier.

Colonial Penn doesn’t require physicals in order to purchase their insurance, so the quote that you receive will be an accurate one and won’t be based on an ensuing doctor’s appointment or a visit from an examiner.

Getting a quote from this and multiple companies will help you get the lowest price for your life insurance needs. If you want the lowest price for your auto insurance, you need to get multiple quotes as well.

Enter your ZIP code below and get your free auto insurance quotes right now!

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Colonial Penn Insurance Products

Colonial Penn sells life insurance products for individuals ages 18 and over. They are known for their Guaranteed Acceptance Plan for people ages 50-85, but they offer several other plans as well that are designed to meet the needs of various consumers.

Not all plans are available in all states where Colonial Penn is licensed. An overview of the life insurance plans offered by Colonial Penn is found below.

Guaranteed Acceptance Life Insurance

  • For individuals ages 50-85
  • Available in most states except Massachusetts and Washington
  • No health questions are asked and no physical exam is necessary
  • Can’t be turned down for any reason, but you are limited to a two-year benefit period
  • Rate will not increase and benefits will not decrease as you age
  • Coverage cannot be canceled as long as you pay your premium on time
  • Can pay premium each year in full and save money
  • Money-back guarantee offered within 30 days of signing up if you change your mind or are dissatisfied for any reason

Life Choice Whole Life Insurance

  • Available for ages 45-75
  • Available in most states except Maine, Montana, and Vermont
  • Five benefit amounts to choose from
  • No medical exam necessary
  • Must answer some health questions in order to determine eligibility
  • Money-back guarantee

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Term Life Insurance

  • Available for ages 18-77
  • Can select from five year or 20-year renewable terms depending on your needs
  • Five benefit amounts to choose from
  • No medical exam necessary
  • Must answer some health questions in order to determine eligibility
  • Rate will not increase for the duration of the term
  • Money-back guarantee

Colonial Penn Insurance Claims

To file an insurance claim with Colonial Penn, the named beneficiary must file a form entitled “Claimant’s Statement for Life Insurance Death Benefits” accompanied by a certified death certificate, and original insurance contract if possible.

This form can be found in the original information packet, but if it cannot be located it is available on the company’s website, along with several other forms you may need.

You can mail this information to the Market Street address, directed to Life Claims Department – 2250.

Colonial Penn Insurance Quotes

It’s never to early to start planning for your future. You can obtain an instant quote for life insurance from Colonial Penn by visiting their website and clicking on the type of life insurance you are interested in.

In order to obtain a quote, you must enter your state, age, gender, and email address.

It’s a good idea to have all of your information ready and prepare a list of questions you may have before calling customer service.

Obtain instant auto insurance quotes right now. Enter your ZIP code below and you will see quotes from companies in your area to get you started in your insurance search.

References:

  1. https://www.colonialpenn.com/
  2. http://www.conseco.com/
  3. https://dc.gov/
  4. https://www.statefarm.com/insurance/life
  5. http://money.cnn.com/retirement/guide/insurance_life.moneymag/index9.htm
  6. https://www.vitalchek.com/death-certificates
  7. https://www.mycolonialpenn.com/customerservice/claims-faqs/


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