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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:

  1. 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:

  1. Call a licensed insurance representative at: (877) 910-7579
  2. Complete an online quote request at: http://www.medigap.com/form/

Compare Medigap Plans Online

or

Speak To A Licensed Agent
1-855-MEDIGAP (633-4427)

Mon-Fri, 8am-8pm EST