Complaint Review: Colonial Penn Life Insurance - Philadelphia Pennsylvania
- Colonial Penn Life Insurance Philadelphia, Pa Philadelphia, Pennsylvania United States of America
- Phone: 215 928 8000
- Category: Insurance Agencies
Colonial Penn Life Insurance STOLE MY MOTHER'S MONEY AND SCAMMED HER Philadelphia, Pennsylvania
*Consumer Comment: Not True
*General Comment: Not true
*REBUTTAL Owner of company: I want you to be my Ins. Agent!
*Consumer Comment: Be serious
*Consumer Comment: Life Insurance Question
*General Comment: Insurance
*UPDATE EX-employee responds: Not exactly true
*General Comment: colonial penn not giving entire picture
*REBUTTAL Individual responds: To William O, Agent Since 981
*General Comment: Computer Acess
*Consumer Suggestion: Important info for people looking to get life insurance.
*Consumer Suggestion: I Agree...
*Consumer Comment: Did NOT cover my Mother's Funeral Expenses
*Consumer Comment: NOT a bogus Ripoff Report
*REBUTTAL Individual responds: two year wait
*Consumer Comment: ColonialPen
*General Comment: I am a licensed insurance agent since 1981. Let me straighten this subject out with the actual truth.
*Consumer Comment: Slow down a little.....
*Consumer Comment: Here's further info from Colonial Penn's website...
*Consumer Comment: Colonial Penn, In my Opinion, is a HORRIBLE company that preys on the elderly.
*Consumer Comment: My condolences, but cannot agree
*Consumer Comment: I really hate to say this
*General Comment: They did notify your mother...
*Consumer Comment: I would suspect that if you read the policy, you would
My mother got colonial penn life insurance 2/2011 and died 10/13/2011 her policy was for $13,408. She paid every month on time and faithfully, on the horrible day she passed the next day I went to the funeral home arranged all the services and called colonial penn and filed my claim. They waited 2 days before my mother's viewing to say they will only give me $736 of her $13,408 policy because she did not live for 2 years from the activation of her policy. My biggest question and concern is that colonial penn is not making their customer aware of this 2 year grace period. I know this for fact because my mother knew she had less than 1 year to live, she would have rejected a insurance policy that said she had to live 2 years or longer in order to get full benefits.
An example of how atrocious colonial penn is: If you buy health insurance and you only make 1 payment, then you get ill or injured and must have a major operation. The health insurance company would not dear say we deny your claim because you did not stay healthy for 2 years or more. Colonial Penn is a fraud and they will not get away with it if I have anything to do about it. They claim no medical evaluation and no health questions asked, which is true but this company needs to mention this 2 years grace period to people before they purchase a policy, which they are not doing obviously.
This report was posted on Ripoff Report on 10/26/2011 03:51 PM and is a permanent record located here: https://www.ripoffreport.com/reports/colonial-penn-life-insurance/philadelphia-pennsylvania-/colonial-penn-life-insurance-stole-my-mothers-money-and-scammed-her-philadelphia-pennsy-792466. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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