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Colonial Penn, which began as an insurance provider through AARP focused on people over 65, [1] now has a marketing campaign that is aimed at people between the age of 50 and 85, specializing in “guaranteed acceptance whole life insurance“ and to help their families cover funeral costs after the individual dies. The company's name comes ...
Colonial Penn is a private company administering Medigap, which refers to Medicare supplement insurance plans. The plans may help pay Medicare costs, such as copays and deductibles.
CNO Financial Group is the parent company of seven insurance companies, including Bankers Life and Casualty Company and Colonial Penn Life Insurance Company. [5] They also own 40/86 Advisors, an investment management company and Washington National Insurance Company.
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In 1991, the company acquired insurer Colonial Penn from Florida Power & Light for $150 million. [11] In 1997, the company sold the life insurance division of Colonial Penn to Conseco for $460 million [12] and sold the auto insurance division of Colonial Penn to GE Capital for $950 million. [13]
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