Colonial Penn Program Products

Life Insurance Products for New York Residents

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LifeChoice® Whole Life Insurance

Peace of Mind for You and Your Family

With Life Choice® you can apply for up to $25,000 of permanent life insurance to help protect your family, during a difficult time. Your life insurance benefit can be used in any way – to help pay for funeral expenses, unpaid medical costs, loan balances, credit card bills, or mortgage and tuition payments.


Please consider that even if you already have life insurance, you may still be underinsured. Inflation may have cut its value, so the insurance you bought even a few years ago may not be enough. Click here for details on benefits, costs and limitations.


No Medical Exam

You will not be required to take a medical exam to apply for this coverage. Your answers to a few health questions will help determine your eligibility.


Lifetime Protection That Builds Cash Value

This is permanent, whole life insurance that builds cash value after the first year. Plus, once your policy is issued, your rate is locked in for life.

+ Frequently Asked Questions

Here are some questions we're often asked about our LifeChoice®, Simplified Whole Life Insurance. If there's something more you'd like to know please contact us.

  • Do I need a physical?
  • You don't have to get a physical now or ever. Your answers to a few health questions will help determine your eligibility.

  • Will my rate go up every year?
  • No, once you're insured, your rate will never go up.

  • As I get older, will you reduce my benefit?
  • No. After your coverage begins, your benefit will not decrease as you grow older or if your health changes.

  • Can you cancel my coverage?
  • As long as you pay your premium, only you can cancel your coverage.

  • Is there a waiting period before the full benefit takes effect?
  • Your policy becomes effective on the day your application is approved, and you're covered in full from day one.

  • Will this plan pay benefits even if I have other insurance?
  • Of course. This plan will pay benefits directly to your beneficiary in addition to any other insurance you might have.

  • Does this plan build cash value?
  • Yes, after your first year of coverage, your LifeChoice® coverage begins to accumulate cash value -- money you can borrow against for any reason.

  • What if I apply for coverage, but change my mind later?
  • Count on our 30-Day Money Back Guarantee for peace of mind. If you decide this coverage isn't for you, just return your insurance documents within 30 days after receiving them for a complete refund, no questions asked.

  • How do I get in touch with you for customer service?
  • We've built our reputation on satisfied customers. When you receive your insurance documents, you'll also receive a customer guide with our toll-free service hotline. This special toll-free number will put you directly in touch with our service team. Your guide will also include information on how to change your payment plan, change a beneficiary, or file a claim.

  • Does it pay to act now?
  • Your rates will never be lower than they are right now. The younger you are when your coverage starts, the lower your rates will be for life.

  • What does simplified issue mean?
  • Simplified issue means that you don't have to complete a lengthy health questionnaire or get a physical to apply for coverage. Your answers to a few health questions will help us determine your eligibility.

  • What type of payment options do you offer?
  • We offer several convenient payment options, and with any of them you can pay monthly, annually, quarterly or semi-annually.

    Payment options include:

    • Direct Bill - We'll send you a statement for payment by check or money order.
    • Automatic deduction from your checking or savings account - Many of our policyholders find this to be the most convenient payment method. You'll save time and postage, and you can choose the date you would like to have your payment deducted.
    • Credit Card - We'll charge your premium directly to your credit card, and you'll save time and postage.

  • Can I take a loan against the cash value of my LifeChoice® life insurance policy?
  • If your coverage is inforce and has a cash value, you may obtain a loan on it. The interest rate is 8% compounded annually. Any loan amount and interest that has not been repaid at the time of death is deducted from the death benefit. Please refer to your policy/certificate for more information, or call our toll-free service number.

  • Do you offer online customer service?
  • Yes! Customers can register at and see their coverage, premium, cash value and loan information. We also offer online premium payment, and you can email us anytime with questions about your policy.

+ Download Application and Apply Now

Download and print an application. Once you get an instant quote and determine how much insurance to apply for you can then download and print the application. If you would prefer, you can request an application by mail.

Complete and sign the application
Mail to us, along with a check or money order for your first premium. You may pay either monthly or annually. Annual premiums are 11 times the monthly premium.
Call us at 1-877-891-0915 for more information or assistance

+ Additional Product Details

This is permanent whole life insurance. Coverage will become effective on the day your application is approved. Once insured, your coverage cannot be cancelled, as long as you pay your premium. After your first year of coverage, your insurance begins to accumulate cash value. You can borrow against your cash value at a guaranteed interest rate. Your benefit will never decrease and your rate will never increase, regardless of any changes in your age or health. The benefit paid for suicide during the first two years is limited to the return of premiums paid, plus interest.


Benefit Amounts

Available coverage amounts vary by age. If you are 65 or under, you can choose $5,000, $10,000, $15,000, $20,000, or $25,000.

If you are age 66 or older, you may choose $5,000, $10,000, or $15,000.


Age Availability

This coverage is available for males, ages 50 - 73 and for females, ages 50-75.


Offered By

Bankers Conseco Life Insurance Company


Home Office:
350 Jericho Turnpike
Jericho, NY 11753


Administrative Office:
399 Market Street
Philadelphia, PA 19106-2181


Individual Policy Form Series 15-82-001


Maximum amount of insurance is subject to company guidelines.

Need help or still have a few questions? Call us at 1-877-891-0915

It only takes a few minutes to get the right protection for you and getting a quote is simple and easy.

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Date of Birth

If you are not completely satisfied with this coverage, you may cancel at any time within the 30-Day Money-Back Guarantee and receive a full refund.

Bankers Conseco Life Insurance Company, Home of The Colonial Penn® Program
Jericho, New York

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