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Do you have Colonial Penn Life Insurance?

Is it legit? I need to find a 10k policy for my father who is already 66. Thanks!

Public Comments

1. It is legit and it is high priced for what you get.
2. Without getting into a long discussion suffice to say These "Guaranteed Issue" policies Colonial Penn and other heavy advertisers promote should be a last resort. It depends on your Fathers health frankly. Just being 66 does not disqualify him for a much more competitive program then these Guaranteed Issue types. There is a commercial where the guy says "All companies will look at that differently". True. Some companies have had awful results for say Type II diabetics, while another has not. The first company will be causious. In the life insurance business when a company increases premiums above "Standard" they are called "Table" ratings. A table 4 is 100% increase of the mortality part of the premium(if it's term it's 100% of the entire premium) Table ratings can go to Table 16. On the other hand Company #2 might offer a Table 2 or even standard!! Ask around and see who your friends use. If you can't get a referral look for an Agent with "CLU" or CFP" behind their names. These are professional decrees which are not all that easy to earn. Then find ONE you like and trust. Why not compete? Well he/she will do that for you. We all know what companies to approach for what condition or type of policy. Most work thru "FMO's" (Field Marketing Organizations) who represent a number of companies and they will shop it for your Agent. If you don't get ANY reasonable offers then call Colonial Penn, and keep him going for at least two years.