Colonial Penn has been in the life insurance business for more than six decades. I have filed cancer, sickness, and accident claims and have always got prompt settlements. BBB accredited since 3/18/2020. Colonial Penn Insurance Review Customer Satisfaction. Colonial Penn was started by one of the cofounders of AARP to bring coverage to a previously unthought-of group: those over 65. Compare Colonial Penn Insurance quotes online before buying a policy. The provider offers life insurance policies in 49 states, the District … It has a wider range of services and a better market reputation and customer satisfaction rate. Build a plan that fits your life with Living Insurance. Colonial Penn Life Insurance does have a few blemishes regarding overall customer satisfaction. Guaranteed acceptance policies do not require a medical exam and ask very few health questions. Colonial Penn sells a lot of guaranteed acceptance life insurance policies. By far, it’s their worst one for two mains reasons. Just about anyone within the right age range (50-85) is guaranteed coverage. The provider offers life insurance policies in 49 states, the District of Columbia, Puerto Rico and the Virgin Islands. This two-part plan provides coverage now (while you’re living) or later when your family may need it most. 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. 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. By the end of this review, you will have a better idea if Colonial Penn is a good choice for your life insurance needs. I have had Colonial life for several years (over 15). COLONIAL PENN LIFE INSURANCE Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported Your Search: Colonial Penn Life Insurance. Original review: Dec. 31, 2019. There may be more reports for "Colonial Penn Life Insurance" For more results perform a general search for "Colonial Penn Life Insurance… 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. It expires at age 90. Colonial Penn Life Insurance. Colonial Penn has had 42 complaints filed against the company in 2017 per NAIC, which is higher than average for a life insurance company. Colonial Penn has been in the life insurance business for more than six decades. 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