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Colonial Penn


Country United States
State Pennsylvania
City Philadelphia
Address 399 Market Street
Phone 1-877-877-8052
Website https://www.colonialpenn.com

Colonial Penn Reviews

Most Useful Comment
  • May 23, 2018

This company uses famous Alex Trebek to advertise their life insurance policy for seniors knowing that he can gain their trust. They advertise that there is a no medical examination to get you to sign up for a policy but fail to tell you about the 2 year waiting peorid. If you are signing up a senior citizien for a life insurance policy why would you give them a 2 year waiting period instead of getting a medical report? this is crazy!! I would like for someone to investigate just how many policies actually are not getting paid through this company because I believe it's an all out scam for them to possibly be collecting payments from senior citizens knowing that majority of them possibly are not going to live the 2 years and then all they do for the family is pay them what their love one has paid into the policy, which could possibly be as low as 200 dollars!! How fair is that to the family of the victim who thought they were covered and had no worries!! My question is are they making interest off of the seniors that they are collecting benefit payments from monthly?? If so then this is all out fraud!! An investigation needs to be done because they could possibly be getting rich off of scamming the elderly!!

Mark as Useful [1 vote]
Most Useful Comment
  • Apr 17, 2018

MY DAD DIED 3 MONTHS AGO. I HAVE CALLED COLONIAL PENN 4 TIMES AND THEY STILL HAVEN'T SENT HIS CHECK ALTHOUGH HE PAID INTO IT FOR YEARS. NO ONE WILL HELP ME, THEY SAY THEY'RE IN MEETINGS AND CAN'T ANSWER MY PHONE CALL. I HAVE NEVER SEEN SUCH FRAUDS IN MY ENTIRE LIFE. THE MONEY WAS GOING TO HIS BURIAL SERVICES, BUT I HAD TO PAY OUT OF POCKET BECAUSE THEY STILL HAVEN'T SENT ME THE CHECK. THIS NEEDS TO GO VIRAL. MY MOM IS IN A NURSING HOME AND THE MONEY IS GOING TO HER CARE. I WILL BE CALLING AN ATTORNEY BECAUSE I STILL DON'T HAVE HIS CHECK AND THEY WON'T HELP ME. THIS IS ABSOLUTELY UNBELIEVABLE AND APPALING. PLEASE MAKE AWARE EVERYONE THEY ARE FRAUDS.

Mark as Useful [1 vote]
  • Feb 22, 2021

Saw CP's TV ad. Applied then decided I did not want the policy. I failed to research online consumer complaints which give this outfit low marks. This is a one-star company with multiple BBB negative reviews all over the country. Red Flag.

Note: Their ad says there is a 30-day review period. Don't fall for it. Once they have your payment information it's off to the races. They target Senior Citizens with a low buy-in of $9.95.

I returned all received docs via US Mail Certified Return Receipt. Note! To disallow/cancel (any type) the law stipulates you must notify them in writing. Even though your calls are recorded (for their benefit--not yours) you'll get nowhere until you write a letter.

CP refused to refund my money. Filed a case with the Department of Insurance. They claim correspondence "crossed in the mail." They responded to the agency request, processed my refund and the case was closed in late 2020.

2021 and CP charged me for a policy that no longer exists. Filed Complaint No. 2 with the Dept. of Insurance. This dispute is in flight at this time. However, a chargeback/block is in place barring them from further abuses.

Save your sanity and your money. Bank $9.95 for 24 months (total cost $238.00) instead of buying a "unit" of insurance that has a two-year "limited benefit" waiting period--and a puny payout if you choose to cash out.

  • Mar 6, 2018

I maintained a policy for $4000 with Colonial Penn for 20 years policy # RP91687627 for my mother, paying every month on time, so much so , that they advised I stop making payments because I had paid the policy in full $4K and all additional funds would be just paying extra, and the policy now would be enforce until my mother passed, so I felt good that it was taken care of, only to find out when I needed the insurance (mother passed 03/01/2018) they informed me the policy expired in 2015 because they sent a letter to my 85 year old mother if she wanted to extend the insurance, she never responded so they expired the insurance, they were always in contact with me before but this time and said this is their practice to ask the insured if coverage is to remain. So they took my premiums and my extra payments and said nothing we can do for you, and literally hung up in my face. I asked them how did you get my mothers address as I nor she has ever given you here address to send a letter, she stated " sir thats not important" the policy has expired" I have other callers. Theres absolutely nothing we can do for you.

I stated your rep. told me I was paid in full and to stop sending payments, then she stated that person probably dosent work here anymore. Sir I have to go now and hung up. Now i have to find money to pay for funeral.

  • Aug 12, 2017

I bought colonial penn life insurance 11 years ago from alex trebeks ad on tv. $45.00 a month never to fo up. I am on a fixed income the whole time and my payment has gone up to $62.00 and now to $96.00. Trebek is lying and so is colonial penn, I want compensation for this and my payment to go to $45.00 til death. This has caused a problem paying for medical tests and monthly payments. I would appeciate some compensation, and how to get in touch with Trebek. Thank You

  • Aug 4, 2017

I had life ins on my husband through Colonial Penn for a few years. He passed away in March '17. The claim was filed & a copy of the death certificate submitted. They have refused the claim (it is only $10,000) because they say I lied when we got the insurance. They guarantee acceptance so there would be no reason to lie. They ask a few questions & the answers were "no". My husband did have a few things medically wrong but not the questions they asked. I don't think I was supposed to volunteer other additional info than what was asked. When he died years later the death certificate clearly shows the cause of death was from "4 days" earlier & 3 underlying causes were from "weeks". So there is NO legitimate reason to deny the claim. If I was going to lie I probably would've got more than $10,000 in insurance. And obviously by the death certificate he did not die from anything that he had when the insurance was purchased. It's nice how they can take premium payments for yrs & then deny a claim & I am just out. It isn't worth hiring an atty because that would cost more than I'd get & they know that & that is how they get away with this. I'm quite sure I'm not the 1st & won't be the last!!

  • Jul 26, 2017

I work for Ford motor company , Every month I pay for a short term disability insurance through Colonial Penn life,The limit is 3 months by $2500 a month ,April 3rd I went in for surgery not being able to return to work I feel doubtful of the proper paperwork ,Every week they send a letter Requested more information from myself from my doctor More authorisations and now they want all my medical records ,My doctor did a hand written letter explaining the procedure as well as the reasons why the surgery was necessary they have now requested more paperwork more authorizations this is the end of July I have still not received a dollar , my house MORTGAGE is behind 4 months, they have started foreclosures on my house,I don't know what to do, I have reported this to human resources in my company to wear over 800 people will be looking for a new Carrier,But in the meantime I need this money desperately I counted on it considering I pay the premiums ,As far as I'm concerned they are not a reputable company and this is all a scam they are doing everything they can not to pay me and I am forced to seek an attorney

  • Jun 21, 2017

I was waiting to hear back from colonial Penn so i could start it back up so they said they sent it to the post office and the post office returned it back to Colonial Penn they said she was approved that was back in the 2016 i had been trying to get it started back up every time i send back what they sent me they say they never got it back i started this insurance back in 2010 i believe ive done everything they asked me to do to get it reinstated they even sent me a letter saying I've paid everything i was suppose to pay all i needed to do was to make her monthly payment which was $8.45 i believe and then they sent another letter saying i didn't send them something so they refunded my money back so im reporting them

  • Jan 11, 2016

Mom is 82 and signed up for a policy with Colonial Penn with automatic withdrawal from her checking account. We have contacted Colonial Penn repeatedly asking why she has 3 separate policies and withdrawals as well as a monthly invoice mailed to the residence. They have repeatedly sent us a useless general document indicating nothing about these policies and have ignored our request to desist making the withdrawals. I have noconfidence that they will pay off any claims when the time comes. Thanks Alex Trebeck, you may want to get your name off this rip off scan.

  • Jan 8, 2016

Colonial Penn conned an elderly woman into buying several policies and led her to believe these policies would pay out about 20K to her children to cover funeral and burial expenses. In her seventies with declining health the agent sold these policies to her knowing that there is no way this woman would live another 50 years to reach the maximum payout which would still only be about 7k. Not only did they decieve the elderly person they were double charging on at least one of the policies and from what could be found had been doing this for about 6 months.

  • Dec 21, 2015

In November 2015. My husband and I cancelled our life insurance policies with Colonial Penn. Being we paid on the 3rd if the month. We found another Family Life insurance company. Which was suggested by by our family members. We emailed colonial Penn ( 3)- times in November . And even called many times. Spoke to a couple representatives telling them we are cancelling before our 30- days are over. Needless to say. We sent my husbands policy, a hand written letter as suggested by their respresentives. And I had a policy number. But NO! Policy!" Being I was guaranteed acceptance. All I had to do was cancel without no questions ask. But my husband was covered in Term life policy. But the commercial stated if we cancel before our 30- days was up?" We would be reimburse our first payment. Which was (49.75) for me. And 40.82 for my husbands policy. But after sending in all the paper work they ask of us. On December 18th 2025. We received a letter from Colonial Penn stating they wanted us to reconsider the cancellation. Almost a month later after we cancelled in November. Look!" I am not going to sugar coat this ridiculous action. Colonial Penn had No intentions on returning our money. Regardless if we cancelled on time or not!! Rather if it was in 30- days or Not!! What they did was act like they did not receive our cancelation at all. Put the money towards our cancelled premiums. And still consider us " Colonial Penns! Customers! Not!!! At! All. And besides. We do not want to be apart of a company who is playing God!! We don't know when God is going to call us home! And whoever made that policy?" I wonder? Do they fear God??" We are all sick un one wat it another. And my husband and I are no different. But one thing for sure. And two things for certain!" Colonial Penn of Philadelphia Pa! Need prayer!" And need to return our money in the same respect we sent it!" No more cancellation notices because they have all the paper work we have. It's sad they have to be such a unfair company. But if keeping this money from us. So be ur. But they will never proper as long as they are treating people like us. I am Disabled. And so is my husband. We will keep them un our prayers. Thank Rip- off report for letting me share this sad. But True, and Honest story. Ms. Gigi B.

  • Aug 4, 2015

The Colonial Penn Life Insurance Company has been ripping me off for the last five years. I am on a fixed income and pay my payment policy faithfully every month. When I call to talk to a representative from Colonial Penn they forever saying I owe them pervious months payments. This time I wanted to start paying my payment online but for some reason the representative told me I couldn't due to back payments. I have tried to ask can I get all my money back for the last five years because I am tired of Colonial Penn ripping me off with back payments that I don't even owe. Colonial Penn Life Insurance Company is not good with customer services and when I have a problem I can't never get to talk to a supervisor. This Company need to stop advertising because it just a rip off.

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