With multiple decades of experience and a robust amount of insurance in force, Colonial Life has built up a good reputation as a stable and respected insurer. The carrier also holds high ratings through A.M. Best and the Better Business Bureau, making it an option for those looking to secure a life insurance policy that they can count on. However, customer feedback is mixed, and the company has seen a high number of complaints filed against it in recent years.

The company offers nine Colonial Life rates review types of insurance policies, including whole life insurance, hospital confidence indemnity, disability insurance, and critical illness coverage. Most of these plans are sold through employers and provide workers with supplemental benefits that help them cover the cost of unforeseen health expenses.

Customer Experience: Gerber Life Insurance Reviews

One area where Colonial Penn may fall short of the mark is its pricing structure, which is based on a unit system instead of a flat rate like other companies. Each unit is worth a certain amount of death benefit, and customers can purchase units from 1 to 15. This means that, for example, if a 66-year-old female purchases 10 units, she will receive $12,000 in coverage. The majority of competing insurance companies offer flat rates based on age and gender, so it’s important to remember that units are not equivalent to the face value of death benefit that you get from the policy.

Colonial Life’s online portal provides access to many helpful tools for its customers, including an easy-to-use calculator that helps users determine their life insurance needs. The portal also features informational articles and guides to assist customers as they select the right coverage for their needs. In addition, the company has a claims reporting hotline that is available during restricted hours Monday through Friday. The website also makes it easy to download forms and access policy-related documents.