Flexible protection for now and for later.

This two-part plan extends the value of your life insurance, so you can collect up to 50% of it early if you become seriously ill.

Living Insurance Image

This important coverage provides a level of protection you won’t find with many traditional life insurance policies. This two-part plan extends the value of your life insurance, so you can collect up to 50% of it early if you become seriously ill. That gives you flexible coverage for now (when you’re living) or later when your family may need it most.

Life Insurance
Payout Option
Living Insurance
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Living Insurance with Permanent Whole Life Insurance

(Ages 40-75) Our whole life plan offers affordable lifetime coverage. Once insured, your rate will never go up. It builds cash value that you can borrow against at a guaranteed interest rate.

Living Insurance gives you a choice of three early payout options to include with your policy.

Choose one of three early payout options: heart attack & stroke, cancer, or chronic illness.

Heart Attack/Stroke
Chronic Illness

Heart Attack/Stroke

Access up to 50% of your life insurance benefit if you are diagnosed with a heart attack or stroke.


Access up to 25% of your life insurance benefit if you are diagnosed with cancer (other than skin cancer).

Chronic Illness

Access up to 50% of your life insurance benefit if you are diagnosed with a disabling chronic illness.

An early payout option is an accelerated death benefit rider that allows you to receive part of your policy’s benefit if you’re diagnosed with a covered illness. This payout is subject to an administrative fee and repayment of a percentage of any policy loans and loan interest.

Features of this Coverage

No Medical Exams

Our plans don’t require medical exams. Depending on the plan you choose, you may have to answer a few questions.

Early Payout Option

Get up to 50% of your death benefit if you are diagnosed with a covered serious illness with this important protection for you and your family.

Flexible Payment Options

Enjoy the flexibility to pay premiums monthly, quarterly, semi-annually, or annually.

Frequently Asked Questions

Term life insurance is straightforward protection that covers you for a set of period of time-term. It can be one of the most affordable ways to buy life insurance. This term policy is guaranteed renewable up to age 90, even if your health has changed.
No. Unlike some policies, no medical exam is required for the coverage. Your answers to health questions on the application will help determine your eligibility. An underwriter may contact you by phone for more information.

It’s easy to apply online. Get a quote and click ‘APPLY’ for the coverage you wish to apply for. You will then be directed to a secure webpage where you’ll provide your personal information, select your beneficiary(s), answer health questions, and select a billing method. After you submit your information, you will be able to print a copy of your signed application for your records.

If you prefer to apply through the mail, you can request information in the mail (link to information request page) or download and print (link to download) an application and mail it to us.

Count on a 30-day money back guarantee for peace of mind. If you decide this coverage isn’t for you, just return your insurance documents within 30 days of receiving them for a complete refund, no questions asked.
Yes! Customers can register at MyColonialPenn.com and see their coverage, premium, cash value and loan information. You can pay your premium online, and you can email us anytime with questions about your policy.
We’ve built our reputation on satisfied customers. When you receive your insurance documents, you’ll also receive a customer service guide with a toll-free service hotline. This special toll-free number will put you directly in touch with a top-notch service team. Your guide will also include information on how to change your payment plan, change a beneficiary, or file a claim.
Yes. You may designate up to two beneficiaries. If you designate two, the total shares must add up to 100%. Many people who choose two beneficiaries divide their life insurance benefit so that each person receives 50%.
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Colonial penn Experience

Personal Protection For Our Customers

Offering peace of mind for over 60 years

Try It On Period, 30 Days of Getting to Know Us

Lets you change or cancel your plan for a full refund if it doesn't feel quite right.

Need more help?
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