Guaranteed Acceptance Whole Life Insurance from Colonial Penn

Guaranteed Acceptance Whole Life Insurance from Colonial Penn Review

Guaranteed Acceptance Life Insurance Pros & Cons

Colonial Penn Life Insurance Company is a life insurance carrier based in Philadelphia, PA. The company was founded in 1968 and offers life insurance products in 49 states (and Washington, DC).

Guaranteed Acceptance Life Insurance FAQ

What types of life insurance products does Colonial Penn Life Insurance Company offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Colonial Penn Life Insurance Company offers.

• Whole Life Insurance - Whole life insurance policies remain in force for the policyholder's entire life, provided premiums are paid. They have a tax deferred cash value, meaning the cash value will not be taxed until funds are withdrawn. The maximum whole life insurance death benefit amount is $50,000.

As well as the basic coverage types mentioned above, Colonial Penn Life Insurance Company also offers the following life insurance policies:

• Guaranteed acceptance - These whole life insurance policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is that these life insurance policies usually have lower death benefits and higher than normal premiums.

What is SuperMoney's financial rating of Colonial Penn Life Insurance Company?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Colonial Penn Life Insurance Company an A or excellent, which is SuperMoney's second highest available score for life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from independent insurance rating agencies.