Colonial Penn

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Colonial Penn
Life Insurance Company
Formerly
Conseco Direct Life
(1998–2001)
Subsidiary
IndustryFinance and Insurance
Founded1968; 52 years ago (1968)
HeadquartersPhiladelphia, Pennsylvania, U.S.
Key people
Alex Trebek, main spokesman
ProductsInsurance
ParentCNO Financial Group
(1997–present)
Websitewww.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 Star Search host and former Tonight Show announcer Ed McMahon, singer Lou Rawls, Former Dallas Cowboys quarterback Roger Staubach, and Joe Theismann.

History[edit]

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 renamed it Conseco Direct Life to reflect Conseco ownership.[5] In 2001, Conseco reverted to the Colonial Penn name, which remains a subsidiary of the renamed CNO Financial Group with Bankers Life and the Washington National Insurance Company.[6]

References[edit]

Notes
  1. ^ Oliver, Myrna (January 23, 2001). "Leonard Davis; Helped Start AARP and Gerontology Programs at USC". Los Angeles Times. Retrieved August 17, 2020.
  2. ^ McNair, Jim (October 26, 1985). "FPL Group Offers To Buy Insurance Firm". South Florida Sun-Sentinel. Fort Lauderdale. Retrieved August 17, 2020.
  3. ^ Kolody, Tracy (April 6, 1991). "FPL Group Finds Buyer For Insurer: Colonial Penn Brings In $150 Million". South Florida Sun-Sentinel.
  4. ^ "Conseco Planning to Acquire Colonial Penn". The New York Times. Bloomberg News. May 1, 1997. p. D5.
  5. ^ YouTube - 1998 - Commercial - Conseco Direct Life - formerly Colonial Penn Life - starring Ed McMahon[dead link]
  6. ^ "Our Companies". CNO Financial Group. Retrieved August 17, 2020.

External links[edit]