Why would signing up with Colonial Penn Life Insurance be a good idea? The truth is that different purchasers of life insurance will have different needs and requirements. Colonial Penn might be perfect for some, but it might not be a very good choice for others. However, it is safe to say that Colonial Penn has definitely done well for scores upon scores of customers interested in a solid life insurance policy. This is a provider that was first established nearly 50 years ago. Yes, when you have a four decade history of having served the public effectively as a life insurance provider, it is likely that you are doing something right.
Colonial Penn Life Insurance has a history that dates back to 1968 when the company was first founded. Arriving as a new life insurance company on the market was not an easy task then just as it would not be an easy task now. The company had to do something to help it stand out from the large crowd of competitors it had to deal with. The company did come up with a workable strategy in the form of offering guaranteed life insurance. Actually, it was the first company to offer guaranteed life insurance, a strategy that helped it quickly establish itself. Obviously, the strategy was a success because Colonial Penn Life Insurance is still a major player in the industry and does continue to offer excellent coverage options for those on the senior market.
The notion the company serves the senior market does require a bit more clarification. The company itself notes it is willing to sell life insurance to someone as young as 18. This really should be considered surprising since there is very little risk associated with offering a policy to someone this age. However, the main benefit that Colonial Penn seems to offer to many customers in the market is that it will insure those that might be well up in age. Even those in the 80’s can be approved for a life insurance policy.
The advertising campaign that the company promotes clearly seeks to target those age 50 to 85. This is quite a brilliant marketing strategy because there are a number of life insurance companies that are simply not willing to offer coverage to those that are older. Offering guaranteed coverage to an older person might even be deemed nonexistent by most industry standards.
There is another benefit to Colonial Penn many will appreciate. Colonial Penn does seek to offer affordable rates for those seeking insurance. Not everyone has a budget that can cover the costs of expensive premiums. Colonial Penn offers coverage at a fee most would be able to easily afford. To compare this company to others check out http://www.lifeinsurancecompaniesbystate.com/.