Colonial Penn Life Insurance Company Life Insurance Overview
By the Policy Help Desk Editorial Team · 2 min read
Updated September 30, 2026
Colonial Penn Life Insurance Company is a life insurance carrier. Its published line in this overview is guaranteed acceptance whole life insurance — a small permanent policy aimed at applicants who want coverage without a medical exam.
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(866) 673-3495Key Takeaways
- •Guaranteed acceptance whole life is designed to be issued without health questions, using age rather than health to decide acceptance.
- •Acceptance is guaranteed because of a two-year limited benefit period at the start of the policy.
- •Coverage is sold in units: the benefit amount per unit depends on age, gender and state, and more units can be added.
- •The premium is locked in and does not increase, the benefit does not decrease with age or health, and coverage stays in force as long as premiums are paid when due.
Life-Insurance Options to Compare
Guaranteed acceptance whole life insurance
Permanent coverage issued without health questions, designed for applicants who would not qualify on health.
These are the product lines the insurance carrier publishes. This is an overview, not an offer or a policy illustration — actual terms, availability and eligibility come from the issuing company and the policy itself.
What to Consider
Guaranteed acceptance whole life
Acceptance is guaranteed because of a two-year limited benefit period: for a death in the first two years the plan pays a limited benefit rather than the full benefit amount. The schedule is set by the policy.
Guaranteed acceptance whole life
The plan is sold in units of coverage, and the benefit amount a unit buys depends on age, gender (in Montana, age only) and state of residence.
Guaranteed acceptance whole life
Once insured, the premium is locked in and cannot increase, the benefit does not decrease because of age or health, and coverage stays in force as long as premiums are paid when due.
Questions Before You Apply?
A licensed agent can walk through eligibility, timing and what a policy does and does not cover before you decide.
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(866) 673-3495Frequently Asked Questions
Do I need a medical exam?
The guaranteed acceptance line is designed to be issued without health questions or an exam. Whether a particular application qualifies depends on age and state.
Are there age limits?
These products are sold within published age ranges that vary by product and state. The carrier confirms eligibility on the application.
What is a limited benefit period?
The carrier's term for the first two years of the policy: a death in that period pays a limited benefit rather than the full benefit amount, and after it the full benefit is paid.
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(866) 673-3495Who You Are Calling
Policy Help Desk is operated by Greystone Insurance Group LLC, a licensed Florida insurance agency (License #L132255). Calls may be handled by Greystone Insurance Group LLC or by a licensed independent insurance agent who can discuss available coverage options.
The number on this page is Policy Help Desk's own contact number. Policy Help Desk is not Colonial Penn Life Insurance Company's customer-service department. Availability of that company's products through the agent handling your inquiry depends on that agent's appointments, the product and your state.
Being included in this overview is not an endorsement of the company or its products by Policy Help Desk. Facts come from the sources listed above and were last verified September 30, 2026; they can change. Nothing here is an offer of insurance, a quote, or a statement that any applicant will qualify for coverage.