Frequently Asked Questions
Will I need a medical exam to qualify for this insurance?
No! Unlike some policies, no medical exam is required for this coverage. Your answers to a few health questions on the application/enrollment form will help determine your eligibility. Depending on your answers to the health questions, an underwriter may contact you by phone with follow up questions.
What type of payment options do you offer?
- Automatic Bank Account Deduction (EFT) - You provide your bank account number and bank routing number, and we'll automatically draft your premium payment from your bank account
- Credit Card - We accept Visa, MasterCard and Discover.
- Direct Bill - Available for quarterly, semi-annual and annual billing. We'll send you a bill after your policy is issued, and then continue to bill you according to the frequency you select. If you change your mind later, you can switch to the billing method that's most convenient for you.
Monthly billing is available for credit card and bank account deduction. Quarterly, semi-annual and annual billing is available for all payment options.
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.
Do you offer online Customer Service?
Yes! Customers can register at MyColonialPenn.com and see their coverage, premium, cash value and loan information. We also offer online premium payment, and you can email us anytime with questions about your policy.
Can I call for Customer Service?
Yes! 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 that 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.
Can I have more than one beneficiary?
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%.
Do I need any special settings on my computer to electronically sign my insurance documents?
You will need an up-to-date browser, but more importantly, you will need to have cookies enabled on your computer. If you need instructions on how to enable cookies, please click here.