The most popular plan offered by the Colonial Penn Life Insurance Company is their guaranteed acceptance life insurance. The maximum face amount offered for that product is $8,000. They do offer a few other products as well, with the maximum face amount of $50,000 for one and $25,000 for the rest. As far as I know, their life insurance is fine. Since it does not require an exam, you may be able to find lower prices elsewhere for those aimed to persons with good health.
Their parent company, CNO Financial Group, is based in Indiana. Colonial Penn Life Insurance Company is rated B++ by AM Best.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
Since I have no personal connection or experience with Colonial Penn Life Insurance Company my first "go to" for information about any insurance company is to check the independent ratings. You can check them for yourself by searching the internet for "comdex rating for ___" whatever company you want to search for. What I found for Colonial Penn was that they do not rank among the top 250 life insurance companies in America as of December 2013. Top Life INsurance Reviews.com posted the comdex along with the AM Best, Standard & Poor, Moody's, and Fitch rankings for each of the top 250 and Colonial Penn was not listed.
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Their parent company, CNO Financial Group, is based in Indiana. Colonial Penn Life Insurance Company is rated B++ by AM Best.