Get customized, portable life insurance — but only through an employer.
- Get a quote if your employer offers Colonial Life benefits.
- Pick something else if you want to sign up for coverage on your own.
What types of life insurance coverage does Colonial Life offer?
Colonial Life offers all of the standard coverages, including:
- Term life.
Colonial Life’s least expensive life insurance option, term life is payable if you pass away during the selected term period. Payments don’t increase during the term.
- Universal life.
This flexible policy allows you to increase or decrease your death benefit as needed. Premium payments also increase or decrease with the death benefit amount and credited interest rates.
- Whole life.
With a whole life policy, the death benefit amount and monthly premiums don’t change, and the coverage is permanent. This is the most expensive type of policy.
How much does Colonial Life cost?
Colonial Life offers affordable options. The exact cost is determined by your age and the amount of coverage you want to purchase.
Pros and cons
- Portable policies. You can take your life insurance policy with you when you leave your job or retire.
- Guaranteed coverage. Some plans offer guaranteed coverage, so there’s no medical exam or medical questions.
- Customizable. You can tailor your policy’s death benefits and coverage amount to best suit your needs.
- Coverage through work only. You can’t sign up for coverage independently — only through an employer.
- No online quote. Potential policyholders can’t explore their options or get a quote online.
Compare other life insurance companies
Colonial Life reviews and complaints
Although Colonial Life isn’t accredited with the BBB, its parent company, Unum, receives an A- rating from the organization. But reviews tell a different story. Out of two reviews, only one gave a 5 star, with the rest only giving 1 star. However, the majority of those reviews apply to short-term disability insurance, not life insurance.
Colonial Life & Accident Insurance Company — the underwriting arm of Colonial Life — receives an A+ from the BBB, with only one review about short-term disability.
Over at A.M. Best, Colonial Life has maintained an A or A- rating since 2014, with a current rating of A.
How does Colonial Life protect my data?
Colonial Life is dedicated to keeping your personal information private. The company is HIPPA compliant and takes a multilayer approach to safeguarding your information with physical, electronic and procedural protections.
How do I sign up?
You’ll sign up for Colonial Life insurance through your employer. HR will help guide you through the process.
I’ve signed up. What happens next?
Once you’ve signed up for life insurance with Colonial Life, register your account online so you can file a claim, review your policy and change beneficiary information.
More about Colonial Life
Colonial Life has been providing its services to employers and their employees for more than 75 years. In addition to life insurance, Colonial Life provides disability, accident, hospital indemnity, critical illness, cancer and dental and vision insurance.
Colonial Life was recently in the news for its partnership with FutureFuel.io, a program designed to help clients reduce the life of their student loan debt.
I’m in HR. What type of insurance products are offered to employees through Colonial Life?
Colonial Life offers a range of insurance products that allow you to provide your employees with a complete benefits package, including:
- Life insurance
- Disability insurance
- Accident insurance
- Hospital indemnity insurance
- Critical illness insurance
- Cancer insurance
- Dental and vision insurance
Colonial life offers customizable life insurance plans, some with guaranteed-issue coverage. But you must sign up for coverage through your employer.
If your company doesn’t offer Colonial Life benefits, check out your other options for life insurance that you can sign up for on your own.