Colonial Penn
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The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American
life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...
company based in
Philadelphia Philadelphia ( ), colloquially referred to as Philly, is the List of municipalities in Pennsylvania, most populous city in the U.S. state of Pennsylvania and the List of United States cities by population, sixth-most populous city in the Unit ...
,
Pennsylvania Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions o ...
, founded by philanthropist and
AARP AARP, formerly the American Association of Retired Persons, is an interest group in the United States focusing on issues affecting those 50 and older. The organization, which is headquartered in Washington, D.C., said it had more than 38  ...
co-founder Leonard Davis, owned by
CNO Financial Group CNO Financial Group, Inc. (formerly Conseco, Inc. (from Consolidated National Security Corporation)) is an American financial services holding company based in Carmel, Indiana. Its insurance subsidiaries provide life insurance, annuity and supp ...
. Colonial Penn, which began as an insurance provider through AARP focused on people over 65, now has a marketing campaign that is aimed at people between the age of 50 and 85, specializing in “guaranteed acceptance whole life insurance“ and to help their families cover funeral costs after the individual dies. The company's name comes from the state it was founded (Pennsylvania), which was part of colonial America, hence the name “Colonial Penn”.


History

Utility holding company FPL Group acquired Colonial Penn in 1985. FPL sold Colonial Penn to
Leucadia National Jefferies Financial Group Inc. is an American financial services company based in New York City. It is listed on the New York Stock Exchange and is a part of the ''Fortune'' 1000. Investments The company's major holdings are as follows: Finan ...
in 1991. Conseco bought Colonial Penn from Leucadia in 1997, and in 1998 renamed it Conseco Direct Life to reflect Conseco ownership. In 2001, Conseco reverted to the ''Colonial Penn'' name, which remains a subsidiary of the renamed CNO Financial Group with '' Bankers Life'' and the ''Washington National Insurance Company''.


Advertising

Colonial Penn is often known for its television commercials that target viewers aged 50 and over. The commercials have frequently aired during ''
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'', ''
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'', and other classic TV shows as well as newer shows that are mostly oriented towards the elderly. Celebrities have been spokespersons for the life insurance company over the years and are known as “compensated endorsers”. The original spokesman was
Ed McMahon Edward Leo Peter McMahon Jr. (March 6, 1923 – June 23, 2009) was an American announcer, game show host, comedian, actor, singer, and combat aviator. McMahon and Johnny Carson began their association in their first TV series, the American Bro ...
. Other spokespeople included Lou Rawls,
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,
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, Tom Bergeron, and Joe Theismann, among others. ''
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'' host
Alex Trebek George Alexander Trebek (; July 22, 1940 – November 8, 2020) was a Canadian and American game show host and television personality. He was best known for hosting the syndicated general knowledge quiz game show ''Jeopardy!'' for 37 seasons ...
had started using life insurance from the company in the early 1990s, and signed a long-term contract with it to do advertisements in 1997. At first, he did commercials alongside Ed McMahon until McMahon's contract expired in 2001 and Trebek continued to do the commercials and advertising until he announced his battle with
pancreatic cancer Pancreatic cancer arises when cell (biology), cells in the pancreas, a glandular organ behind the stomach, begin to multiply out of control and form a Neoplasm, mass. These cancerous cells have the malignant, ability to invade other parts of ...
in 2019. Trebek would often visit Colonial Penn's headquarters in Philadelphia to meet with employees and representatives and to film commercials. Prior to his death, Trebek's estate received royalties from every commercial that he appeared in. Since 2019, Colonial Penn sales manager Jonathan Lawson has appeared as a pitchman in the commercials while Trebek was unavailable at times due to health issues. When Trebek died in November 2020, most, if not all, commercials featuring him were removed and were replaced by Lawson on a temporary basis, and the life insurance company's website removed all references to Trebek. A week after Trebek died, Colonial Penn announced that his family will receive benefits and funeral expenses. In the months following Trebek's death, Colonial Penn aired commercials paying tribute to Trebek. As of 2024, their advertisements continue with Lawson with information on the company's services, life policies, etc. Their life insurance policies are designed for anyone who needs a life insurance coverage but might not be eligible due to their age or health status.


References

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External links

* {{Authority control Insurance companies of the United States Companies based in Philadelphia Financial services companies established in 1968 1968 establishments in Pennsylvania Life insurance companies