Colonial Penn

Colonial Penn Life Insurance Deception

Trebek, Peddling Over-Priced Life Insurance

Colonial Penn's Deceptive Life Insurance Ads

Let's face it the Life Insurance industry can't be a racket. When it comes to deceptive ads & practices Colonial Penn takes the lead! The ads target TV shows popular with seniors with a relatable celebrity spokesperson. 

Colonial Penn's credibility if easily fact-checked by its Trustpilot reviews which are in the toilet!

 The crux of the misleading comes in advertising the unit price...

For example, a 65-year-old man purchasing 12 units of the $9.95 plan (costing aprox $120/mo) would only receive around $10,000 in life insurance coverage. In contrast, that same man could get $10,000 in coverage from Mutual of Omaha for just $56.48 per month, with no waiting period. 

The Colonial Penn ads also fail to disclose key limitations of their policies, such as the 2-year waiting period before the full death benefit is paid out. If the policyholder dies within the first two years from natural causes, their beneficiaries would only receive the premiums paid, this is known as a "Graded Plan".

 For Reliable, Honest Life Insurance Quotes Call: 1-877-343-4648 

Colonial Penn Trustpilot Reviews

Colonial Penn Life Insurance Reviews

Colonial Penn's Misleading Ads Hype Overpriced, Limited Life Insurance Policies

Furthermore, the ads misleadingly claim customers "can't be turned down" due to health, without explaining the tradeoffs of this guaranteed acceptance. These types of policies tend to have higher premiums and less coverage compared to plans that require health information.

"Don't let actors persuade you into buying overpriced burial insurance," warns one consumer advocate. "Instead, give your money to a company that will provide you and your family with much more coverage for the dollars spent." 

The Virginia Bureau of Insurance recently cited Colonial Penn for running ads that omitted material information, minimized required disclosures, and made unsubstantiated affordability claims. The company agreed to revise its Virginia ads and pay a $30,300 settlement. 

We advise seniors to be wary of life insurance offers that seem "too good to be true," and to instead work with a trusted local agent to compare policies and find the best coverage for their needs. 

 For Fast & Affordable Life Insurance Policies Call: 1-877-343-4648