COLONIAL PENN LIFE INSURANCE Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported Your Search: Colonial Penn Life Insurance. By the end of this review, you will have a better idea if Colonial Penn is a good choice for your life insurance needs. Colonial Penn Life Insurance. Sincerely, Colonial Penn Life Insurance. Just about anyone within the right age range (50-85) is guaranteed coverage. Fittingly, the Colonial Penn we know today is probably best known because of Alex Trebek, who stars in daytime TV commercials selling guaranteed issue life insurance for people 50–85, who says you can get coverage for $9.95 per month. I have filed cancer, sickness, and accident claims and have always got prompt settlements. Colonial Penn Insurance Review Customer Satisfaction. Guaranteed acceptance policies do not require a medical exam and ask very few health questions. There may be more reports for "Colonial Penn Life Insurance" For more results perform a general search for "Colonial Penn Life Insurance… Colonial Penn has been in the life insurance business for more than six decades. Colonial Penn Life Insurance does have a few blemishes regarding overall customer satisfaction. I have had Colonial life for several years (over 15). Policy# 3: Colonial Penn Term Life Insurance (The One That Expires) Not too long ago, Penn Life insurance company added this last policy to their product offering. The provider offers life insurance policies in 49 states, the District … Colonial Penn vs New York Life – Colonial Penn does not compare to New York Life, which is the third-largest insurance service provider in the US and has been operating within the industry for 175 years. This two-part plan provides coverage now (while you’re living) or later when your family may need it most. Original review: Dec. 31, 2019. In this review of Colonial Penn, you’ll learn about their history, financial ratings, the types of life insurance they offer, and their life insurance rate chart. Colonial Penn Insurance Review & Complaints: Life Insurance Colonial Penn Insurance reviews reveal a company rating of A- with the Better Business Bureau, but Colonial Penn Insurance rates are not the best value when it comes to your life insurance policy. By far, it’s their worst one for two mains reasons. Colonial Penn has been in the life insurance business for more than six decades. Colonial Penn was started by one of the cofounders of AARP to bring coverage to a previously unthought-of group: those over 65. It has a wider range of services and a better market reputation and customer satisfaction rate. It expires at age 90. Colonial Penn has had 42 complaints filed against the company in 2017 per NAIC, which is higher than average for a life insurance company. 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