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Colonial Penn vs State Farm Life Insurance

Colonial Penn and State Farm are two solid life insurance companies. Rest assured you can't make a bad choice if you have narrowed it down to Colonial Penn and State Farm. See our side by side comparison below to see how these two companies stack up. We have included financial ratings, current leadership, assets, and premium in force for both Colonial Penn and State Farm.
  • 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
  • YEAR FOUNDED
    1922
  • CURRENT CEO
    Michael L. Tipsord
  • AVAILABLE
    48 States
  • ADDRESS
    East P.O. Box 588002 North Metro, GA 30029
  • TOP AWARDS

    N/A

  • PROS
    • Great Term Life Insurance
    • Top rated customer service
  • CONS
    • Term lengths
    • Higher premiums than other companies

Compare Other Options

1st place trophy
1st

Health IQ is a unique life insurance brokerage that gets you special rates if you live an active lifestyle. If you exercise a few times per week, you can qualify for lower rates. Click below to get an accurate quote.

2nd place trophy
2nd

AIG, also know as American International Group, has been in business since 1919. AIG's strong financial rating, product selection and competitive pricing earns it the #2 spot.

3rd place trophy
3rd

Banner is a subsidiary of Legal & General, and have been in business since 1836. They hold an A+ financial rating and have some of the most competitive rates. This earns them the #3 spot.

SOURCE Colonial Penn State Farm
JD Power N/A 5/5
BBB N/A A-
AM Best A- A++
Moody's Baa1 Aa1
Fitch BBB+ N/A
Standard & Poor BBB+ AA
Comdex Score 62 98
SOURCE Colonial Penn State Farm
Total Assets $30 billion(CNO Financial Group) $160.732 billion
Life Insurance in Force $3.2B $901.7 billion
Colonial Penn State Farm
Guaranteed Acceptance Life InsuranceSelect Term 10, 20, 30
Permanent Whole Life InsuranceReturn of Premium 20, 30
Renewable Term Life InsuranceMortgage Life 15, 30
Whole Life
Limited Pay 10, 15, 20
Single Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
Colonial Penn State Farm
Colonial Penn Guaranteed Issue Whole Life InsuranceSelect Term 10, 20, 30
Colonial Penn Patriot Program Whole Life and Term LifeReturn of Premium 20, 30
Mortgage Life 15, 30
Whole Life
Limited Pay 10, 15, 20
Single Premium Life
Universal Life
Survivorship Universal Life
Joint Universal Life
Colonial Penn State Farm
No riders availableN/A
Jonathan Holloway
January 1, 1970
Jonathan is a licensed life insurance agent at NoExam.com that writes about insurance, personal finance, lifestyle, and sports. See our pages on term life insurance, life insurance rates and life insurance companies for more.
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.