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Private company

Colonial Penn

Logo: https://colonialpenn.com/documents/254036/0/CP_Logo_RGB_New.png, Non-free logo, via Wikipedia3

American insurance company

The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, Pennsylvania, founded by philanthropist and AARP co-founder Leonard Davis, and owned by CNO Financial Group. 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" to help their families cover funeral costs after the individual dies.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1968Founded1

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The Colonial Penn Life Insurance Company (often known as simply Colonial Penn) is an American life insurance company based in Philadelphia, Pennsylvania, founded by philanthropist and AARP co-founder Leonard Davis, and owned by CNO Financial Group. 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" to help their families cover funeral costs after the individual dies.2

The story

Utility holding company FPL Group acquired Colonial Penn in 1985. FPL sold Colonial Penn to Leucadia National 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, along with Bankers Life and the Washington National Insurance Company.

From Wikipedia’s article on Colonial Penn, shared under CC BY-SA 4.0.4

Products and brands

  • insurance

Listed on Wikidata.1

Timeline

  1. 1968Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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