Colonial Penn Auto Insurance Review (2022)

Colonial Penn auto insurance reviews are hard to find because Colonial Penn doesn't sell auto insurance (you can visit their website: www.mycolonialpenn.com). Colonial Penn life insurance is guaranteed acceptances and costs as little $10/mo. You can't get Colonial Penn auto insurance quotes, but you can compare car insurance quotes from top companies here.

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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. He has also been featured on sites like UpJourney.

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Written by Mathew B. Sims
Editor-in-Chief Mathew B. Sims

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, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that ex...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent Daniel Walker

UPDATED: Sep 25, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Sep 25, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Written By: Mathew B. SimsReviewed By: Daniel WalkerUPDATED: Sep 25, 2022Fact Checked
Quick Read
3.4
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Colonial Penn Insurance Company

Average annual rate for good drivers:

$79

A.M. Best rating:

A-

Complaint level:

Low

Pros

  • Colonial Penn is currently licensed in 49 states, as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
  • Known as one of the oldest continuously operating life insurance companies.

Cons

  • They are not licensed and do not market their products in the state of New York
  • They only have one office, which is located in Philadelphia
  • Colonial Penn does not sell auto insurance

The Bottom Line

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.

Colonial Penn doesn’t require physicals 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.

Colonial Penn Insurance Company was initially 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 Insurance Rates

Here are the average costs of life insurance by gender and age.

Colonial Penn Life Insurance Rate Chart
AgeColonial Penn Rates (Female)Colonial Penn Rates (Male)
50 Years Old$8,332= $39.80$7,144= $39.80
60 Years Old$9,726= $59.70$7,284= $59.70
70 Years Old$8,344= $79.60$5,736= $79.60
Get Your Rates Quote Now

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 Insurance Coverage Options

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.

An overview of the life insurance plans offered by Colonial Penn is found below.

  • Guaranteed Acceptance Life Insurance
  • Life Choice Whole Life Insurance
  • Term Life Insurance

Not all plans are available in all states where Colonial Penn is licensed.

Colonial Insurance vs. Competitors

Getting a quote from this and multiple companies will help you get the lowest price for your life insurance needs. It is possible to get life insurance coverage that gives you and your family the security you deserve without breaking the bank, you just have to look. The same is true with car insurance; if you want to find the lowest auto insurance rates, you need to get multiple quotes.

Frequently Asked Questions

#1 – Is Colonial Penn a reputable insurance company?

Yes. Customer reviews show that Colonial Penn has come through when other companies have rejected them.

#2 – Is Colonial Penn any good?

The reviews online are neutral. The best way to determine the company’s reliability is by comparing it to other companies. However, Colonial Penn has 2.5 out of five stars on Google Reviews.

#3 – Does Colonial Penn payout?

Part of Colonial Penn’s contract to customers is paying out when a claim is filed. There may be cases where the claim was not paid for a variety of reasons.

#4 – How much is Colonial Penn guaranteed life insurance?

Colonial Penn’s guaranteed life insurance is about $10 per month.

#5 – Who has the cheapest life insurance for seniors?

North American Company for Life and Health Insurance is the cheapest company for seniors.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

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. He has also been featured on sites like UpJourney.

Full Bio →

Written by Mathew B. Sims
Editor-in-Chief Mathew B. Sims

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, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that ex...

Full Bio →

Reviewed by Daniel Walker
Licensed Auto Insurance Agent Daniel Walker

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