Does Colonial Penn Life Insurance Work? 
Colonial Penn Life Insurance will pay a death benefit after a waiting period of a couple years , for death due to natural causes . During the first two years , it will pay a death benefit plus a small percent more . It pays 100 % of the death benefit from day one for accidental death that was not caused in any way by the insured person 's health condition -LRB- s -RRB- . If your health is not very poor , you may be able to get a No Exam policy that will pay 100 % from day one for death by any reason . You may also be able to get a larger face amount than you can get through Colonial Penn , and/or at a lower cost . Nonmed policies offered by other companies are also easy to get . So do n't settle for Colonial Penn until you have contacted a broker who can tell you what else you can get , so you can make an informed decision . 