Cancellation transactions terminate your coverage including any riders. If cancellation is selected on a policy with cash value, this is considered a full cash surrender, and the policy cannot be reinstated.
Is colonial life the same as Colonial Penn?
Is Colonial Life and Colonial Penn the same insurance company? No. Colonial Life provides a range of life, and supplemental coverage plans to benefit the employees. It is based in South Carolina.Sep 8, 2021
Is Colonial Life a pyramid scheme?
Colonial Life is not a scam, insurance MLM, or pyramid scheme. It’s one of the more well-known insurance providers and has a large network of providers at its disposal, as well as training tools for its employees.
Who bought out Colonial Life insurance?
Unum subsidiary Unum acquired Colonial Life in 1993 for $571 million.