Colonial Penn Life Insurance Review

Colonial Penn Life Insurance Review

Colonial Penn Life Insurance Review

If you want to know more information then you need to read this Colonial Penn life insurance review we give you right here. This company is known to have various benefits given to their insurance client. Two of their most popular product is the guaranteed issue on their whole insurance as well as patriot program which applies on the term insurance as well as whole insurance. Now if you want to know more about these programs, here are the reviews that you should know.

Guaranteed Issue on Colonial Pen Whole Insurance

You should know that when you take the whole insurance from Colonial Pen Company, then they do not even need to do any exam as they also do not give question on your health. They also have guaranteed issue on their product which can be categorized for burial as well as final expense type of insurance. Furthermore their whole insurance is also available for everyone until they are 85 years old.

The death benefit that they issue in the first policy signup is not degreasing over the time on the policy, and it will stay fix when you pay the premium payment continuously. But do not worry as the premium itself stay fix throughout the policy time. This is different from several other companies where their premium will increase in every 5 year time.

Patriot Program on Colonial Pen Term Insurance and Whole Insurance

Again for their patriot program, you do not need to do any medical exam. However, they will give you some questions regarding your health. Then without medical exam, you can even earn coverage up until 50,000 dollars. For the term insurance, it is available for everyone from the age of 18 years old until they are 75 years old. Then for the whole insurance, it is available for everyone from the age of 40 years old, until they are 75 years old. Furthermore, they also offers guarantee for money back at the first 30 days from the date that you sign up. This period is considered as free look and if you finally decide not to continue the policy within that period, they will give you full refund.

Please Visit: 6 Characteristics of a Reliable Insurance Company

Those are the pros and cons of Colonial Penn insurance is the next thing that you might want to know. For ratings they only have at maximum B++ for the AM rates, however, if it is for final expense type of insurance as this company already have good portfolio on their product. Furthermore their rate is not the lowest, thus you might want to consider various companies before deciding your option. Do not forget that some of their product also have increased premium with your age increase. That is why; you need to always pay attention to the rate even up to 20 years forward the time you sign up to ensure there is no increased in the policy that you get. Those are several information that you need to know about Colonial Penn, which hopefully can help you to understand this company and their policy better.

2 Replies to “Colonial Penn Life Insurance Review”

Leave a Reply

Your email address will not be published. Required fields are marked *