ComplaintsforColonial Penn Life Insuance Co.

• Initial Complaint

  10/02/2023

  Complaint Type:

  Product Issues

  Status:

  BBB unable to locate business

  More info

  Two charges were taken out of my bank account on 9/15/2023. One was for ***** and the other was *****. I did not purchase these policies. Tried to get my money back on three different calls and each time they said that they would credit my account, but as of yet nothing has been posted to my account.

• Initial Complaint

  09/29/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  BBB unable to locate business

  More info

  On 9/26/23 I went online to colonialpenn.com to get a quote on life insurance. It said I had to enter a credit/debit card to receive the quote but my card would not be charged until a policy had been issued. I checked my bank account the same day and noticed a charge in the amount of $29.85. I contacted Colonial Penn and was told the money would be back in my account in 24hrs. It has now been 72hrs and the money was not returned. I called Colonial Penn this morning (9/29/23) and spoke with ****** who said it should take 6-8 WEEKS for me to get my money back. I explained multiple times I did not want to purchase a policy, only get a quote. He said non-the-less, a policy was issued and I'd have to jump thru hoops to get my money back and the policy canceled. This seems like fraud or product misrepresentation.

• Initial Complaint

  07/28/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Colonial Penns commercial says their policy is 35 cents a day or 2 dollars a week. Two dollars is less than 29 cents a day and not 35 cents a day. One comes out to &127.75/year and the other comes out to $104/year. This is a misleading commercial because people can do the weekly amount in their head but not the other!

• Initial Complaint

  07/05/2023

  Complaint Type:

  Product Issues

  Status:

  BBB unable to locate business

  More info

  I have been trying to reach MRS ******************* in REGARDS to changing ownership of my whole life insurance policy since the recent death of my beloved brother to whom was the policy owner at the time I appointed him as the owner back in ************************************************************************************************* since I purchase the **** in POLICY back in ************************************************************************************************************************************* a amicable way this is no way to treat a customer such as myself ***************** know what this is about she said that she was sending the form to me in the mail to sign and returned back to her but I have not received any form in the maul as of yet I did not want to have to file this complaint but I felt that I had to since she is ignoring me and not contacting me back this is very important that this change be made now THAR is all I want to do ***************** is the consumers complaints department supervisor that handle all complaints for COLONIAL PENN **** INSURANCE company I know that she is a very busy woman but I just want to speak to her to find out why I have not received the forms please ***************** SEND me the forms to sign and returned THANKS.

• Initial Complaint

  06/28/2023

  Complaint Type:

  Product Issues

  Status:

  BBB unable to locate business

  More info

  I took out this policy in February and since then have had multiple issues with the billing. My first payment went through then three months later I received a letter in the mail saying that they have not received my payments and I received a bill for $687 for three months all at once. At first I thought that maybe this was just a glitch with billing on their end since I have no issues with my bank and they have all of my updated info. I also told them to please tell me early and not three months later if they are having any billing issues. Well, just this week I received a letter from them stating that they have not received my payment (again, I am signed up for automatic withdrawal every month and they should not have an issue) and they would be sending me a bill. I finally decided to cancel my policy and that is where my complaint really begins because I was told that although Ive been paying on this since February ($896 in total) that I would only be receiving one month back as a cash out for the policy ($209). This was not the information that I was told when I took out the policy and on their website and others which describe their coverage they clearly state that if you cancel you can receive a lump sum of the amount you paid into it. The rep told me that this only applies within the first thirty days of the policy but again, this is not explicitly stated in their information nor was this information given to me. I am seeking a full refund of the total amount of money I put into this policy- $896.

• Initial Complaint

  05/25/2023

  Complaint Type:

  Customer Service Issues

  Status:

  BBB unable to locate business

  More info

  in October of 2022 i canceled my policy with colonial penn. they proceeded to continue taking payments out of my account until march of 2023 after i had called and talked with someone on their service number once a week for that period of time in order to stop the payment. I am due a refund for the time of billing that was not supposed to be billed for and have still not received my money i am due. It is now May 25th and I just called they still ignore my requests and will not point me in a direction of any type of help.

• Initial Complaint

  03/29/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  BBB unable to locate business

  More info

  My sister got a life insurance policy with Colonial **** in December of 2020 making our mother the beneficiary. My sister pasted away March of 2022. My mom filed the claim in April sending in the information they requested. About six months past and nothing. After calling and calling they tell my mother my sister never had a policy. Yet they where receiving her payments. The policy was for ******. I think a class action lawsuit should be filed against them.

• Initial Complaint

  03/24/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  BBB unable to locate business

  More info

  to whom it may concern, i ***************************** lost both my auntie and uncle same year but months apart ,my auntie passed first on 01/17/2022, my uncle passed 06/07/2022, their names, ***************************************, **************************, as you can see my auntie passed first which left me to take care of my uncle ,colonial penn had six policies left on my auntie ******* which they never paid out to my uncle which they had more than enough time to do so, now my uncle has passed they still holding on his funds, in the mean time i'm trying to get everything in order, doing everything they asked of me faxing everything over to them that they asked of me, then they tell me this is the last fax i need to make and they will send me the proceeds within 10 days, that never happen so i called them only to find out they gave the proceeds to someone else, ***************************** that's no blood kin to my uncle at all, and like i said they knew my auntie passed away first and we used so of policies for her funeral, they should have send my uncle the rest of her proceeds when she passed instead of waiting for him to pass away, and ***************************** is not on my auntie policies nor my uncle policies and he does not have power of attorney over my uncle nor auntie estate he just inherited the house , he is not in tittled to anything else that's has to do with my uncle and his wife , he did'nt even make them a sandwich, and this company did not even call me or inform me that they was even considering giving this boy anything, i don't know what kind of business they is doing but they are not right nothing i want to be affianted we, i want my uncle proceeds and i want the public to know what kind of company this is they should have gave my uncle his proceeds a long time ago, before he even passed away and having me waiting for something that never came and gave my uncle and auntie hard working people and loving people funds to someone that was never there for them this company should have waited and contacted me.

• Initial Complaint

  12/19/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Unanswered

  More info

  My mother paid life insurance and they wont pay but keep saying check is in the mail 7 times over the last 15 months. 880$ was to be paid to her beneficiary which is me 2 years after her passing. My mother wanted to bless me from heaven after she was gone 2 years and instead I have had to relive her death every time I call and talk to someone. *************************** was policy holder ************************* beneficiary. Policy nmbr Ty83374630 I sent them death certificate and filled out their form and everything they asked. My mother suffered from cancer and broke femur in nursing home and they put a rod in other leg because of cancer within a few days and then we watched cancer move around more would show up and finally it landed in top of her head and eased on down in her brain and she passed. I am an emotional wreck because of these people

• Initial Complaint

  12/15/2022

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  I have had an insurance policy on my husband with Colonial Penn for 20+ yrs. and there were many times over the course of these 20 years that we have struggled to pay this note but somehow we managed to pay it and have never missed a pymt. They sent a letter that they are increasing mo. pymt. $95, making mo. **** $249.70. It started out at $45.20, increasing every 5 yrs. We are retired, on SS with minimal funds My husband is 77 years old. This policy is void at 80. I called them many times since receiving their increase letter (dates and names can be provided) and explained we could not pay this high premium and what were our options and they said pay or we lose it. I told them I dont believe I was explained that this was a term policy 2o years ago. I asked them to send me a copy of my signed policy and they have yet to send it. Some employees have told me I didnt need to see the signed policy. I asked one employee to let me talk to her **************** put me on hold. No one ever came back to me. At this point in our lives we are facing many unplanned expenses and it is devastating to know we will not have this life insurance after we have paid on it for 20 years. We believe by our calculations that we have already paid in the amount the policy covers. We dont believe we would have ever taken out a policy knowing there would not be any cash payout in the event something could happen like we are experiencing now. We are a medium class hard working family with no luxuries, drive a 12-yr. old automobile with 100,00+ miles. Our **** truck just quit. There is not enough money in the budget to buy another one. We are church going family that do not take advantage of situations for our own personal gain. We try to do the right thing & expect other people to do the same. We have never bothered CP with anything in 20 yrs. but give them our money. They scammed us and other clients need to beware. They deceive people with false advertisement and it must stop.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩