Colonial Penn Life Insurance Company, known simply as Colonial Penn, was founded in 1968 by AARP co-founder Leonard Davis. While on vacation in South America, Davis thought of funding a life insurance program for those over the age of 65.
Today, Colonial Penn is a subsidiary of the CNO Financial Group. Based out of Philadelphia, the company is best known for its spokesperson, game show host Alex Trebek, as well as for their claims that the company will never refuse insurance to anyone, regardless of health.
The company originally offered life insurance for AARP members over the age of 65 but now offers their products to those between the ages of 50 and 85.
Company headquarters remain in Philadelphia, Pennsylvania.