Colonial Penn vs State Farm Life Insurance

  • 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
SOURCEColonial PennState Farm
JD PowerN/A5/5
BBBN/AA-
AM BestA-A++
Moody'sBaa1Aa1
FitchBBB+N/A
Standard & PoorBBB+AA
Comdex Score6298
SOURCEColonial PennState Farm
Total Assets $30 billion(CNO Financial Group)$160.732 billion
Life Insurance in Force $3.2B$901.7 billion
Colonial PennState 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 PennState 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 PennState Farm
No riders availableN/A
Jonathan Holloway
October 13, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
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