This simplified issue coverage doesn’t require a medical exam. Answers to questions on your application help us determine your eligibility. Once insured, your rate will never go up and your premium is locked in for life.

What is Permanent Whole Life Insurance?

Permanent Whole Life Insurance provides coverage for the life of the insured. These life insurance policies are also known as “traditional.” Permanent Whole Life Insurance is paid out to a beneficiary or beneficiaries upon the insured’s death provided that the premium payments were maintained.

Common uses for Permanent Whole Life Insurance

  • Cash for loved ones when they may need it most
  • Outstanding debt left behind by the insured

LifeChoice® Whole Life Insurance through the Colonial Penn® Program

Our LifeChoice® Whole Life Plan offers permanent, lifelong protection. Males ages 50–73 and females ages 50–75 are eligible to apply for coverage. No medical exam required, builds cash value. Exclusive to New York residents.

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No medical exam

Answers to the questions on the application will help us determine your eligibility. This is permanent, whole life insurance with no medical exam required.

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Locked-in premium & benefit amount

Your premium is based on gender and age when coverage takes effect. Your rate will not change for the life of the policy. Benefit amounts are available up to $25,000.

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Flexible payment options

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

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Cash value

This plan begins to build cash value after the first year of coverage. You can borrow against it at a guaranteed rate.


Why Choose Coverage Through the Colonial Penn® Program?

No Medical Exam

Answers to questions on the application help us determine your eligibility

We Believe in Making Insurance Simple

Finish the process in a few simple steps.

30-Day Try-It-On Period

Cancel your plan for a full refund.

Do I need a physical/medical exam to qualify?

You will never need a physical/medical exam. Your answers to a few health questions will help determine your eligibility.

Will my rates go up every year?

No. Once you're insured, your rate will never go up.

As I get older, will my benefits be reduced?

No. After your coverage begins, your benefit will not decrease as you grow older or if your health changes.

Can you cancel my coverage?

As long as you pay your premium, only you can cancel your coverage.

Is there a waiting period before the full benefit takes effect?

Your policy becomes effective on the day your application is approved, and you're covered in full from day one.

Does this plan pay benefits even if I have other insurance?

Yes. Your LifeChoice® Whole Life Insurance plan will pay benefits directly to your beneficiary or beneficiaries in addition to any other insurance you might have.

What if I apply for coverage but change my mind later?

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 after receiving them for a complete refund, no questions asked.

Can I call for customer service?

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.

Does it pay to act now?

Your rates will never be lower than they are right now. The younger you are when your coverage starts, the lower your rates will be for life.

What does simplified issue mean?

Simplified issue means that you don't have to complete a lengthy health questionnaire or get a physical to apply for coverage. Your answers to a few health questions will help us determine your eligibility.

Can I take a loan against the cash value of my LifeChoice® life insurance policy?

If your coverage is in force and has a cash value, you may obtain a loan on it. The interest rate is 8% compounded annually. Any loan amount and interest that has not been repaid at the time of death is deducted from the death benefit. Please refer to your policy for more information or call our toll-free service number 1-877-891-0915.

Do you offer online customer service?

Yes! Customers can register at and see their coverage, premium, cash value and loan information. Premiums can be paid online and you can contact us anytime with questions about your policy.

What is the difference between whole life and term life insurance?

Whole life insurance offers permanent, lifetime coverage. Your premiums do not increase over time and your coverage begins to build cash value after the first year. You can borrow against this cash value by taking a policy loan. For people who want permanent protection, whole life insurance can be a good choice.

Term life insurance is straightforward protection that covers you for a set period of time which is the term. It can be one of the most affordable ways to buy life insurance.

Get a quick insurance quote now!

Pressed for time? We get it! Select your state to see which of our plans fit your needs and are available to you.