Colonial Penn Life Insurance Company has a variety of life products which appeal to those not wanting to complete medical exams.
They are priced in a way that reflects no medical exam as well as offering life insurance with pre-existing conditions up to a maximum of $50,000. Colonial Penn is a leader in the life insurance market and commonly sold via telephone or online applications.
Below is a look at their core product line.
Renewable Term Insurance
Term Life Insurance is designed for people who want basic coverage for a reasonable amount. You can get term between ages 18-75 ad is renewable up to age 90. Benefit amounts can be up to $50,000. Payments can be made monthly, quarterly, semi-annually or annually.
Guaranteed Acceptance Life Insurance
It is available for ages 50-85 in most states. Coverage is guaranteed. There are no health questions or physicals to take to get coverage. The coverage amount stays locked in along with your premiums. Coverage cannot be canceled except by you.
Permanent Whole Life Insurance
It is available for ages 40-75 with no medical exam required (your answers on the application will determine eligibility). Coverage and premiums stay the same for the life of the policy. The policy can be paid up to age 121. Benefit amounts can be up to $50,000. Payments can be made monthly, quarterly, semi-annually or annually.
How to Get Colonial Penn Life Insurance
Many of you have probably seen Alex Trebek on TV for many years endorsing Colonial Penn life insurance. He is paid for his commercials which offer consumers a phone number to call in and speak with a Colonial Penn Life Insurance agent licensed in all states Colonial Penn is approved.
Consumers can call in to that number and speak to a licensed agent and enroll directly over the phone or request quotes online. Colonial Penn doesn’t appear to have licensed agents working in the field, so home visits are not an option.
Check out our full list of life insurance company reviews here.