Life Insurance FAQs

Frequently Asked Questions About Our Life Insurance

What is a unit?

A unit of coverage corresponds to the life insurance benefit amount you can purchase, and it depends on age, gender and state. Please visit the Guaranteed Acceptance Life quote page to see benefit amounts and premiums available to you for up to 8 units of coverage.


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What kind of insurance do you offer?

  • Guaranteed Acceptance life insurance (ages 50 - 85, most states)
  • Term and whole life insurance plans with coverage up to $50,000 are available through the Colonial Penn Patriot Program┬«. The term plan is renewable to age 90, and is available for ages 18 - 75 (most states). The whole life plan provides permanent lifetime coverage, and available ages are 40 - 75. No medical exam is required - your answers to a few health questions help us determine your eligibility.
  • 5 and 20 year term life insurance up to $25,000 for ages 18 - 77, with no medical exam required. Your answers to a few health questions help us determine your eligibility.
  • Whole life insurance up to $25,000 for ages 45 - 75, with no medical exam required. Your answers to a few health questions help us determine your eligibility.

Click Here for information about Medicare Supplement insurance.


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Will I always need to answer medical questions and take a physical to apply for coverage?

No. With our Guaranteed Acceptance Life plan you cannot be turned down for coverage (there is a 2-year limited benefit before full benefits take effect). For some of our plans your answers to a few simple health questions help us determine your eligibility, but you will not be required to take a physical.


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What if I apply for coverage, but change my mind later?

Count on our 30-Day Free-Look Guarantee for peace of mind. If you decide this coverage isn't for you, no matter what the reason, just return your insurance documents within 30 days of receipt for a complete refund, no questions asked.


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Does it pay to act now?

It makes good sense to apply now. If you have a birthday in the near future we suggest calling us right away, so you can quickly lock in the lowest possible rates or highest possible benefit amount. Call toll free 1-877-877-8052 (in NY, 1-877-891-0915).


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The Colonial Penn® Program | 399 Market Street | Philadelphia, PA 19106