Colonial Penn Medicare Plans
Affiliated Brand Names
- Colonial Penn
- Colonial Penn Life Insurance Company
- Banker’s Life (a subsidiary of Colonial Penn)
Company Overview
Colonial Penn Life Insurance Company has been offering life insurance products directly to customers at relatively affordable prices for more than 50 years. They are a subsidiary of CNO Finance Group, Inc. They specialize in offering whole life insurance policies to anyone ages 18-85 through direct marketing practices.
Company Highlights
- Over 50 years of experience in health and life insurance
- Currently servicing nearly 750,000 life insurance policies
- More than $3.2 billion insured funds
- Headquarters located in Philadelphia
Medicare Plans Offered
Larger insurance companies will offer a greater variety of supplement plans, whereas smaller ones will be more limited in scope. Colonial Penn offers:
| Medicare Supplement Plans | YES |
| Medicare Advantage Plans | NO |
| Medicare Part D Drug Plans | NO |
Colonial Penn Premium Comparison
Comparing prices is a great way to save money on a Medicare supplement policy. Below is a graph which displays average supplement prices across the country. Naturally, the exact price you will end up paying will vary from the average, but at least it gives you a good idea of what you should expect to spend on a policy from Colonial Penn.
This Table Represents National Average Costs of Medicare Supplement Plans
| Plan Type | Starting From | Part A Deductible | Part B Deductible | Excess | Nursing | Travel | |
|---|---|---|---|---|---|---|---|
| Plan C | $118* | $0 | $0 | Not Covered | 100% Covered | 100% Covered | Request Info |
| Plan F Most popular |
$116* | $0 | $0 | 100% Covered | 100% Covered | 100% Covered | Request Info |
| Plan G | $105* | $0 | $147 | 100% Covered | 100% Covered | 100% Covered | Request Info |
| Plan B | $104* | $0 | $147 | Not Covered | Not Covered | Not Covered | Request Info |
| Plan N | $70* | $0 | $147 | Not Covered | 100% Covered | 100% Covered | Request Info |
| Plan D | $97* | $0 | $147 | Not Covered | 100% Covered | 100% Covered | Request Info |
| Plan A | $69* | $1 | $147 | Not Covered | Not Covered | Not Covered | Request Info |
| Plan L | $76* | $304 | $147 | Not Covered | 75% Covered | Not Covered | Request Info |
| Plan K | $45* | $608 | $147 | Not Covered | 50% Covered | Not Covered | Request Info |
| Plan M | $97* | $608 | $147 | Not Covered | 100% Covered | 100% Covered | Request Info |
Financial Strength Ratings
A financially strong company is a reliable company. If they know how to manage their resources correctly, they will still be around to manage your claims and help you with your healthcare when you need them most. Here are the ratings for Colonial Penn:
| A.M. Best Rating | B++ |
| Standard & Poor’s Rating | BBB+ |
| Moody’s Rating | Baa2 |
Colonial Penn Video
Colonial Penn Review
Colonial Penn has a strong history as a whole life insurance provider. They are an active subsidiary of CNO Finance Group, a company which specializes in offering financial products and services for senior citizens. Colonial Penn has had some trouble in the past with independent agents and offices exercising questionable sales tactics, but efforts have been made in recent years to return to an ethical, customer-oriented business model.
- Market Experience
- Fast Claims Processing
- Strong Financial Reserves
- Competitive Rates
- Customer Satisfaction
How To File A Claim With Colonial Penn
Telephone Number: 1-800-523-9100
(For New York residents: 1-800-323-4542)
To speak with a person:
- Dialing the toll-free number above will directly connect you to a live customer service representative.
Company Contact Information
Customer Service:
1-877-877-8052
(For New York residents: 1-877-891-0915)
Mailing Address:
Colonial Penn Life Insurance Company
399 Market Street
Philadelphia, PA 19181
How To Get A Rate Quote
Customers looking to get a rate quote, or learn more about plans have 2 options:
- Call a licensed insurance representative at: (877) 910-7579
- Complete an online quote request at: http://www.medigap.com/form/