My mother got colonial penn life insurance 2 and died 10/13 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.
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