Colonial Penn's Guaranteed Accepted Life Insurance offers coverage for the conventional expenses people incur after the death of a loved one. These include funeral and burial expenses, medical and hospital bills, and debt like credit cards and loans.

Premium rates for this policy are fixed once the policyholder is insured, just like its coverage amounts, and start as low as $9.95 per month. There are a total of 15 rate options to choose from, and they will vary by age, gender, and state. If you wish to learn more, you can visit Colonial Penn's website, where you can submit your information to get a free quote.

This policy comes with a 30-day try-it-on period during which you can evaluate if this policy is the right fit and decide to either retain it or get a full refund. The company is able to guarantee acceptance due to a two-year limited period.

Colonial Penn has an A- rating from Standard & Poor's and an A rating from AM Best. It also received an A- rating from Fitch. Although the company has a profile on Moody's, they have not reviewed Colonial Penn's insurance financial strength rating of A3 since 2021, when the rating was affirmed. Notwithstanding, the company has an overall positive outlook in terms of how well it will meet its obligations.

Colonial Penn has been accredited by the Better Business Bureau since 2020. It holds a BBB rating of A+. Its reviews are mostly negative and policyholders mostly complain about the company's procedures to process claims. The company has an unclaimed profile on Trustpilot that has a rating of 2.3.