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The Colonial Penn Life Insurance is shortly and some time referred to as Colonial Penn, is an America based leading company in Finance and Insurance industry. The Colonial Penn Life Insurance Company is specialized in insurance services and it offers services for people between the Age of 50 and 85. It is mainly famous for its guaranteed acceptance whole life insurance service across the America. It has over 750,000 life insurance policies.

The Colonial Penn Life Insurance Company was founded in the year 1968. It was the America's first insurance company to offer Guaranteed Acceptance Life Insurance plan to the age group of 50 and above. During 1985, Utility holding company, FPL Group purchased Colonial Penn, and later in 1991, FPL Group sold company to Leucadia National. In 1997, it was purchased by Conseco from Leucadia. In Next year, the company changed its name Conseco Direct Life. In 2001, it renamed its name back to Colonial Penn. As of 2014, the company is owned by an Indiana based financial services organization, CNO Financial Group, Inc. Colonial Penn is headquartered in Philadelphia, Pennsylvania, United States.