If you purchase a Colonial Penn policy, you can take advantage of the company's 30-day money-back guarantee, which allows you to cancel the policy within the first 30 days for a full refund if you are unsatisfied for any reason. Term life insurance, where coverage expires after a certain number of years, is one popular type among people with young families looking to keep premiums down. Colonial Penn also offers Living Insurance, which combines its Permanent Whole Life policy with an Accelerated Death Benefit Rider, allowing policyholders to access up to 50% of their benefit if they are diagnosed with a covered illness. The Permanent Whole Life policy is available for those aged 45 to 75 and offers coverage ranging from $10,000 to $50,000. In some states, including Missouri and Minnesota, the maximum age is 75. ![]() The Guaranteed Acceptance policy is available to those between the ages of 50 and 85 (in most states) and doesn't require a medical exam or health questionnaire - all qualified individuals are guaranteed to get coverage regardless of health. They offer a range of policies with different coverage amounts and terms, and their rates vary depending. This insurance provider offers two types of permanent life insurance, Guaranteed Acceptance Life Insurance and Permanent Whole Life Insurance, which cover the policyholder for their whole lifetime and build up a cash value component that can be borrowed against. Colonial Penn Life Insurance is a provider of life insurance policies in the United States. The National Association of Insurance Commissioners' complaint report shows that Colonial Penn has a higher-than-average complaint index of 19.47. ![]() The company currently has over $3.5 billion of life insurance in force. Established in 1957 and headquartered in Philadelphia, Colonial Penn provides life insurance coverage to customers in all 50 U.S.
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