Saturday, November 7, 2026 · Customer reviews of US businesses
The Fair Hearing score
Bad
103 reviews
Colonial Penn Life Insurance CompanySelect a line to read only those reviews.
Honesty, 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 The Fair Hearing, with an average rating of 1.1 out of 5.
103 approved reviews, newest moderated first
These r crappy policies that have been around 4 years.Colonel Penn is just one of many companies that sells them. They r deceptive and aimed at the elderly. During the 1st two years they do not pay a death benefit.. Instead, u get a return of premium. By year five u have paid more than the death benefit into the plan. If u cancel u lose everything. If u continue u r being ripped off. The only way to make the policy work is to die between years 3 and 5.
By Sanctus E.
Rip Off, BUYER BEWARE PERIOD!!!! Company has major complaints against them based on all of their practices and the commercials don't disclose the entire truth. Don't do business with this company would be my advice and recommendation.
By Gloria M.
Tired of these people lying to people and constant ads 9.95 a month insurance = 1000.00 dollar coverage give me a break
By Jim B.
Because they don't pay for 1st 2 years, you end up paying $2400 for $900 worth of coverage. No wonder they say you can keep it as long as you pay your premiums. After 10 years, you've paid $24,000 for $900 worth of insurance. Sure you want to just make CP rich?
By James W.
They are a terrible insurance company, I have had my policy for over 5 years and pay approximately 70.00 a month for a $20,000. whole life policy. Now trying to get a Whole life policy through them for my husband in the amount of 100,000. they refuse saying he can only get a $15,000. policy for 150.00 a month.
By Lynn H.
this place can’t be trusted waste of your money they don’t want to as answer any questions they just want to take your information, address phone number name and send you a lot of junk in the mail, but can’t even answer questions. My family members have dealt with this place don’t waste your time or money.
By Cynthiatravelingqueen
say, aren't you Jonathan the guy who knocked up my wife?
By Curtis J.
Do not waste your time with this company. They are complete garbage.
By Scott R.
