Colonial Penn vs Protective Life Insurance

  • YEAR FOUNDED
    1907
  • CURRENT CEO
    John D. Johns
  • AVAILABLE
    All 50 States
  • ADDRESS
    111 Congresional Blvd., Suite 500 Carmel, IN 46032
  • TOP AWARDS

    2010 Optimas Award from Workforce Management Magazine

  • PROS
    • Financially sound.
    • Competitive, comprehensive rates.
    • Flexible health guidelines.
  • CONS
    • Approval can take awhile.
    • Low tolerance for smoking.
  • YEAR FOUNDED
    1968
  • CURRENT CEO
    James Prieur
  • AVAILABLE
    47 States
  • ADDRESS
    399 Market Street Philadelphia PA, 19106
  • TOP AWARDS

    Children's Scholarship Fund Philadelphia (CSFP) Corporate Citizen of the Year

  • PROS
    • No Exam and No Health Questions for the Guaranteed Issue Whole Life Insurance
    • The death benefit does not decrease over the life of the policy but remain fixed as long as one continues to make premium payments
    • Your premium is fixed for the life of the policy
  • CONS
    • Online application unavailable for all plans
    • Low coverage amounts
    • No living benefit for Guaranteed Issue plan
SOURCEProtectiveColonial Penn
JD Power774N/A
BBBA+N/A
AM BestA+A-
Moody'sA1Baa1
FitchA+BBB+
Standard & PoorAA-BBB+
Comdex Score9262
SOURCEProtectiveColonial Penn
Total Assets$75 Billion USD (2016) $30 billion(CNO Financial Group)
Life Insurance in Force$767.3 Billion $3.2B
ProtectiveColonial Penn
Term Life InsuranceColonial Penn Guaranteed Issue Whole Life Insurance
Whole Life InsuranceColonial Penn Patriot Program Whole Life and Term Life
Universal Life Insurance
Variable Universal Life Insurance
Indexed Universal Life Insurance
Survivorship Universal Life Insurance
Life Insurance for Children
ProtectiveColonial Penn
Protective Custom Choice UL Colonial Penn Guaranteed Issue Whole Life Insurance
Protective Advantage Choice ULColonial Penn Patriot Program Whole Life and Term Life
Protective Classic Choice Term
Protective One Year Term
ProClassic II
ProClassic Legacy
Protective Classic Choice Term
Investors Choice VUL
Strategic Objective VUL
Survivorship Term
Survior UL
Protective Whole Life
ProtectiveColonial Penn
Accidental death benefit riderNo riders available
Accelerated death benefit rider
Waiver of premium rider
Disability income rider
Guaranteed insurability rider
Term insurance rider
Children’s term rider
Jonathan Holloway
October 13, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
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