Life Insurance

Colonial Life Insurance Review

By Peter Mondrose Peter Mondrose is the Head of Insurance Content at Bankovia. He received his degree in Economics in 1998 and a second degree in Journalism in 2004 from the University of Chicago. Most recently he served as Head of Content at QuoteYeti.com, and editor at BusinessPundit.com 2 minute read

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  • Term life. Colonial Life Insurance ‘most cost-effective term life insurance coverage is available in four different term lengths: 10, 15, 20, and 30 years. If you die while continuing to pay the same amount in premiums, your beneficiaries will get a guaranteed death benefit.
  • Whole Life. Along with offering lifetime protection, it accrues monetary value at the insurer’s specified rate, making it a great long-term investment. There are two payment options: full payment at 70% of the total price or full payment up to 100%.

What riders can I add to my policy?

Colonial Life Insurance Review - Colonial Life Insurance Company Logo

Your insurance coverage does not cover the installation of additional riders, which makes sense under the circumstances.

Colonial Life insurance reviews and complaints

Colonial Life has an A+ rating with the Better Business Bureau for its customer service, despite the fact that the firm is not BBB certified (BBB). Neither the Better Business Bureau (BBB) nor TrustPilot’s separate websites currently have any consumer reviews or complaints.

Colonial Life offers subsidized portable life insurance policies via your employer, allowing you to maintain coverage regardless of your work circumstances. If you are unwilling to answer questions about your health and family’s medical history, you may be able to obtain guaranteed issue insurance coverage.

Pros and Cons of Colonial Life Insurance

Pros

  • Portable policies are ones that are relevant in all areas.
  • There is no replacement for a comprehensive medical examination.
  • Select the level of insurance coverage that you require and desire depending on your unique circumstances and preferences.
  • Possibility of payment

Cons

  • It is only available on the company’s premises.
  • On the internet, there are no examples of this.

How to get a quote from Colonial Life insurance

You may be eligible for insurance if your work provides it as a perk. The human resources department of your workplace will take you through the entire procedure from start to end.

What types of life insurance coverage does Colonial Life offer?

Colonial Life offers two distinct lines of insurance: life and health.

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