Bad
Based on 103 reviews
Colonial Penn Life Insurance Company1.1Honesty, pricing, process and quality scores appear once 5 customers have rated them.
For over 60 years, Colonial Penn has specialized in offering life insurance directly to consumers. Through the mail, TV, our call center and the web, we focus on providing life insurance protection for folks like you and your loved ones. Colonial Penn was a pioneer in designing insurance products to meet the needs of the mature market, and in 1968 became one of the first insurers to offer a Guaranteed Acceptance Life Insurance plan exclusively for people age 50 and over.Today, Colonial Penn offers life insurance products that are designed to help ease financial burdens at a difficult time. Our most popular plan is our Guaranteed Acceptance Whole Life Insurance available exclusively for age 50 and over. We also offer “easy-issue” permanent, whole life insurance.
Colonial Penn Life Insurance Company (colonialpenn.com) has 103 customer reviews on Folks Told, with an average rating of 1.1 out of 5.
103 approved reviews, newest moderated first
John M. D.
I am so tired of watching the TV Commercials because they lie and take advantage of older people. People need to pass the word along to friends and family about how terrible Colonial Penn really is. I certainly do!
Steven S.
I contacted colonial Penn about receiving life insurance. I am on SSI. Not SSDI or any other sort. I was told that colonial Penn would not affect my SSI at all, and there was no problem with me signing up for insurance. I contacted SSI and found out that yes in fact, it does affect my SSI payments, as well as Medicaid. I had a representative come to my house to speak to me, and he assured me that there would be no repercussions for signing up for their insurance. This agent named Les boldly lied to my face, or was severely under educated. In fact, if you are on SSI all colonial Penn offers is whole life insurance. Because whole life insurance can be drawn upon as a monetary value, any amount of insurance above $1500 in payout will not only affect your SSI, but may end up having it canceled altogether. Less assured me that was not the case. SSI informed me that in fact that was the case and that I would be penalized for having whole life insurance over the value of $1500 , there is no need for this type of deception . With their ads on Television and through the mail, They fail to reveal that fact to people. If you are on SSI, do not sign up with colonial Penn. It could permanently eliminate your benefits.
mikell7777
Ever heard of Chinese water torture? Each commercial is drip, drip, drip they drives one nuts! So, soon as I see one, I change the channel or mute it. But just know, I will NEVER EVER get Colonial Penn, NEVER! I will text this to the channels runing your torturous commercial. Michael Diamond
Di M.
Stop lying to customers. I have repeatedly sent claim forms to receive a measly $1,000 death payout for my Mom who passed away 12/22/23. I keep getting letters saying they require more info. I have sent a copy of will, claim form, death certificates, copy of insurance policy...but I keep getting letters telling me they will start the claim once they receive additional info. I'm beyond pissed because you only talk to customer reps who tell you they will make sure the "escalation team" know that I called, so they can move forward with the claim. I've been told this 3 times since February. I was faithful in sending in my Mom's annual premium for this coverage for many years. This is the THANKS that she gets for being faithful and on time with her payments. DO BETTER COLONIAL PENN!!!
Josephine H.
This is ridiculous. I'm trying to turn in a claim on my best life long friend that passed away in October. So I mailed the claim form and a copy of her death certificate in April and haven't gotten any response. So I call 2 times and talk to 2 different people that didn't help at all. So because I didn't know her zip code of what was on her death certificate I can't get any answers. No matter I know her SS #, date of birth, mother and father name, siblings name and her sons. Oh and I'm the POA. Do you need her blood type to get some answers? Sorry I can't tell you that.
Dick
You'll pay more in premiums than you'll ever get back. The 3 P's of life insurance is a take off from the 3 most important things on having a business are: location, location and location.......
Bonnie H.
I recently wrote a negative review to Colinial Penn saying that they were not a business to trust. I was wrong they reached out to me and turns out they are very trustworthy. I apologize for my previous review, I said things that I shouldn't have. Bonnie Hirtman
Pmedic
Colonial is a close to a scam as you can get. Very, very misleading with advertising. You may pay only $9.95 a month for 20 years but only get $1100 of coverage. You pay more in premiums than you get back. They also signed me up without approval and tried to deduct a monthly payment, however, they got caught. No money for Colonial Penn. Read complaints from BBB. Poor little senior citizens are being scammed for sure.
