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
Christine
Sick and tired of their commercials! Why do they have to repeat their stupid phone number 4 times!!!!!! The reason is that they are so desperate for clients that they have to keep repeating and repeating and repeating it!!!! No wonder they are rated so low!!!
mary the grand M.
Did did cancel my account and my 3 small policies for which I paid more than 20 yrs.!! I am 86 yrs old and they advertised that policies are for life!!! I do not know why this guys are not cancelled for fraud!! Why fraud from customers are not punished as those from public money?! They are spam and saw lots of advertising on you tube.
B M.
Terrible experience getting a quote, and being signed up without my authorization.
Kimberly M.
Horrible insurance company! Their customer service is non-existent, no human can be found at any of the MANY phone numbers listed.
Rocco DeLauri S.
Colonial Penn is a scam! They go out of their way to not pay a claim. My wife has been trying to collect a simple $400. policy on her dad who passed and who had paid over $600. in payments on it, yes a total ripoff, and she has been trying to collect it for 3 months. Yes she provided the court papers as administrator 3 times and they keep asking for it again. Thief company!!!
GeoH
My partner passed away over two months ago. I spoke directly to a representative because his policy was on auto-pay but with his passing his social security deposit stopped and his bank account was frozen with his monthly premium due. The Colonial Penn representative assured me it was noted and would not be charged. I sent in all the paperwork and death certificate and they told me after processing time, a check would come 10 business days later. Still not having received payment I just checked his account online and see "policy active Payment past due". I called customer service and they said the policy is now under review, "now" under review? It's been at least 7 weeks since I sent in the documents. The policy was minimal, only $1500 payout, and I'm not desperate for it, but I am the beneficiary and it is something, and something due me especially considering the fact I was the breadwinner and his full time care taker for the last several years as his health deteriorated. Will have to see what happens now but I'm not holding my breath I will get anything. I actually told him when he applied it was a waste of money because I'd heard so many bad things about Colonial Penn but he wanted to do it. I'm just glad I was able to talk him out of ever increasing the coverage/premium to hundreds of $$ a month like the company kept pushing him for.
Monica C.
My mother paid Colonial Penn for years! When she passed, they didn’t pay a dime! Do NOT get suckered in to this company! I guess my next move is to report them to insurance fraud.
Chris R.
On April 5, 2026, I looked for a quote from Colonial Penn. I did not buy. The next day the first months premium was deducted from ,y bank account. I immediately called and was told my policy would be canceled and my premium returnen to me. so far nothing. How come a premium can be deducted from my bank in less thab 24 hours, but cannot be return in more than 14 days. Truly a scam.
