Colonial Penn Life Insurance

www.colonialpenn.com
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Colonial Penn Life Insurance Reviews

Updated April 19, 2015
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2.0
27 Reviews
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Recommend to a friend
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Gerardo Monroy
7 Ratings

Employee Reviews

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  1. Good experience as a transitional position

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance in Philadelphia, PA
    Former Employee - Insurance in Philadelphia, PA

    I worked at Colonial Penn Life Insurance full-time (More than 5 years)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    the training is great, great work life balance, new tasks to learn if asked for, new quality technology to work with

    Cons

    the compensation could be better, there are not opportunities to advance in every department, the office culture varies by the day

    Advice to Management

    Upper management really wants to see people advance, continue to do this

  2. Great job if you like scaring & harassing old people

    • Career Opportunities
    Former Employee - Agent/Sales Representative
    Former Employee - Agent/Sales Representative

    I worked at Colonial Penn Life Insurance full-time (More than 3 years)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Pay & bonuses aren't bad.

    Cons

    You basically spend your time calling the same people over & over, every hour day after day. You'll see the same names 6 or 7 or 8 times a day for 2 weeks or more. Calls start at 8am in most states, and can go until about 9 at night.

    Once you get in touch with potential customers, you're supposed to keep bringing up their fear/worry multiple times, pounding it in to them that they need to buy this life insurance, and buy it fast.

    Advice to Management

    Cut back on the number of times you call people. 3 or 4 times a day should be plenty. Don't penalize us for things we can't control, like wrong numbers.

  3. Horrible place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Colonial Penn Life Insurance full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    They help train you to obtain your life insurance license, and they are downtown.

    Cons

    This has become a very depressing place to have to come to everyday. Most employees are unhappy, but fear speaking up because management does not want to hear the truth about their unsustainable and unfair business practices. Managers and supervisors can write you up for any little reason that they see fit, and they literally make the rules up as they go. Human Resources is a joke, and they cannot assist you. They will side with management every time.

    Advice to Management

    Colonial Penn used to be a very enjoyable place to work, and I used to say that I was proud to work there. Now it is not worth the stress that management puts you through, and most of the higher ups in the sales department do not care about the well-being of their reps. They only care about the money that you can bring into the door no matter what the cost is. The monthly goal is unrealistic, there is essentially no sales training and if you are someone who needs coaching...then you are on your own. With that said, you will be out of a job in three months if you are too far away from your monthly goal...and they do not take into consideration the fact that no one has tried to help you to do better. In addition, you have to work two mandatory Saturdays each month, overtime is limited to twice a year, you are discouraged from taking vacation during "peak " sales times of the year, one of which is right in the summer time. They have an awful computer system that is out dated by the tune of 10 years. It causes you to lose sale daily, and causes you to come into contact with a larger amount of irate customers. The system constantly crashes while you are on sales, which causes confusion for the customer because now another rep has to call them back to redo the sale that you lost and now do not get credit for. If you want to be micromanaged, treated like a child and an idiot, have your intelligence constantly disrespected by management, get lousy benefits that cost more than they are worth,have to deal with incompetent sales managers who are disorganized and who always want to pass the buck and blame the representatives for everything that goes wrong then Colonial Penn is the place for you. Otherwise, if you have dignity, self respect, and true skills stay away from this place. You can do much better elsewhere.

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  5. Correction to earlier review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Colonial Penn Life Insurance

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    No cold calls. Leads are provided.

    Cons

    See review dated 12/7/14
    I gave a thumb up to Gerardo Monroy in error. Two thumbs down.

    Advice to Management

    See review dated 12/7/14

  6. Helpful (1)

    what was once a good company has gone downhill fast.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous
    Current Employee - Anonymous

    I have been working at Colonial Penn Life Insurance full-time (More than 10 years)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    CP is good for training. If you want to learn the insurance business this company can train you well.

    Cons

    management doesn't care about its employees. They care more about how much money you bring into the company than you.

    Advice to Management

    go back to what were yours a go. Start caring about your employees. They are just like you, they are people not machines.

  7. Great company no micromanaging great CEO

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Sales Representative in Philadelphia, PA
    Current Employee - Sales Representative in Philadelphia, PA

    I have been working at Colonial Penn Life Insurance full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great company...family atmosphere..no micro managing....you can work from home after 1 year...great bonus structure...friendly environment....let me repeat no micro managing!!! If you have telephone skills I recommend this place to anyone

    Cons

    They dont hire to often...if you can get in you stay in

    Advice to Management

    Hire more debt collectors

  8. Helpful (3)

    Avoid this place if you can

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - TELESALES Representative in Philadelphia, PA
    Current Employee - TELESALES Representative in Philadelphia, PA

    I have been working at Colonial Penn Life Insurance full-time (Less than a year)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They help you get your life insurance license.

    Cons

    They micromanage your time using some dubious productivity software system that they never share with you during training about how it works or doesnt work.

    Advice to Management

    Stop selling GBL products, the social security recipients are going to go for it less and less as this economy becomes more difficult.

  9. Excellent Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative in Philadelphia, PA
    Current Employee - Customer Service Representative in Philadelphia, PA

    I have been working at Colonial Penn Life Insurance part-time (More than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Outstanding training program, no cold calling, excellent merit increases and incentive programs

    Cons

    I am 100% satisfied, I have no cons.

    Advice to Management

    Be more available to the reps with constructive criticism

  10. Helpful (2)

    Good for interim employment while looking for something better.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Sales Representative in Philadelphia, PA
    Current Employee - Insurance Sales Representative in Philadelphia, PA

    I have been working at Colonial Penn Life Insurance full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Easily accessible by public transit, small business atmosphere, free coffee. New CEO is great and is cleaning up Management so things may be getting better in the near future. Co-workers are very kind and helpful. Company pays for and gives support for employee licensing which is rare in insurance business.

    Cons

    Pay not great, health insurance benefit plan is awful and the employee contribution is extremely high , mandatory Saturdays, sales bonuses are quarterly and very small. Facilities and technology need updating. Not much diversity in sales force.

  11. Helpful (4)

    Take your skills someplace else!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Phila, PA
    Former Employee - Anonymous Employee in Phila, PA

    I worked at Colonial Penn Life Insurance full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    convenient downtown location. some management are actually concerned about the employees. incentive packages are pretty ok. Salary pretty good.

    Cons

    Alot of the employees are simply there because of the salary. There are not many people that enjoy the job or the environment. Most supervisors lack intelligence, professionalism and management skills. I was an employee of colonial penn dating back to the 90's, at that time Colonial Penn was an awesome company to work for. Through the years with changes in HR and the company as a whole it has steadily gone down hill. The caliber and professionalism of employees have declined along with choices made for supervisory positions have been a disgrace. The call center portion of the company is very high schoolish and is full of gossip, relationships and buffoonery . This behavior is not only within the representatives but also management. Goals that are required are outlandish! I personally know people that lost there job simply because they have stated their opinions or their supervisor has a personal vendetta with them. HR rep has close personal relationships with supervisors and allow them to make these decisions. They constantly fire employees because of their lack of achieving goals but the real problem is the management staff. If they had supervisors that actually had management skills they would definitely have a better group of employees! Do not apply for customer service position. It is really a sales position. Customer service is not as important as the sale that they want you to make at the end of the call. customer service representatives are the heart of that company and they do not get the recognition they deserve and are extremely overworked. CSR are always given more descriptions to their job but still want them to achieve sales goals RIDICULOUS!

    Advice to Management

    Get rid of supervisors that units are not pulling their weight instead of constantly firing the workers. Hire more professional employees. HR department needs to an overhaul. Stop overworking the customer service dept employees and show your appreciation of them just as you do the sales dept.

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