Colonial Penn life insurance policies are aimed at helping cover end-of-life expenses and funeral costs, ... State Farm comes in at No. 6 in our rating of the Best Life Insurance Companies of 2025.

Colonial Penn vs. State Farm State Farm 's guaranteed-issue whole life policy maxes out at $15,000 ($10,000 in New York), a fraction of Colonial Penn , which offers $50,000 in 49 states and ...

Colonial Penn sells one type of life insurance: ... State Farm. $76. TruStage. $84. Colonial Penn. $95. Source: Forbes Advisor research. Rates are based on 60 and 70-year-olds. See More See Less.