Colonial Penn
| Subsidiary | |
| Industry | Finance and Insurance |
| Founded | 1968 |
| Headquarters | Philadelphia, Pennsylvania |
Key people | Alex Trebek, spokesperson |
| Products | Insurance |
| Parent | CNO Financial Group |
| Website | www.colonialpenn.com |
Colonial Penn Life Insurance Company is a Philadelphia-based life insurance company, founded by philanthropist and AARP co-founder Leonard Davis, owned by CNO Financial Group. Colonial Penn, originally focused on people over 65 who became the origins of insurance provided through American Association of Retired Persons, now known as AARP,[1] now has a marketing campaign is aimed at people between the age of 50 and 85, specializing in guaranteed acceptance whole life insurance. Jeopardy! host Alex Trebek commonly appears as a compensated endorser for Colonial Penn in advertisements. Former endorsers include Ed McMahon, Lou Rawls, and Joe Theismann.
Utility holding company FPL Group acquired Colonial Penn in 1985.[2] FPL sold Colonial Penn to Leucadia National in 1991.[3]
Conseco bought Colonial Penn from Leucadia in 1997,[4] and in 1998 it was renamed Conseco Direct Life to reflect Conseco ownership.[5] In 2001, the name was changed back to Colonial Penn, though, according to the fine print at the end of Colonial Penn commercials today, it is still Banker's Conseco Life Insurance Company for residents of The New York State.
References
- Notes
- ↑ http://articles.latimes.com/2001/jan/23/local/me-15772
- ↑ FPL Group Offers To Buy Insurance Firm
- ↑ Fpl Group Finds Buyer For Insurer: Colonial Penn Brings In $150 Million
- ↑ Conseco Planning to Acquire Colonial Penn
- ↑ YouTube - 1998 - Commercial - Conseco Direct Life - formerly Colonial Penn Life - starring Ed McMahon