Colonial Penn Life Insurance Company is a Philadelphia, Pennsylvania based life insurance company owned by Conseco. Colonial Penn's 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 advertisements. Former endorsers include Ed McMahon, Lou Rawls, and Joe Theismann.
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 it was renamed Conseco Direct Life to reflect Conseco ownership. 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 New York State.
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