Definition: Life Insurance Colonial Penn is a term referring to a type of life insurance that pays out benefits to the beneficiaries upon the death of the policyholder. This type of policy is often used in conjunction with a term life insurance contract, where the benefit from the life insurance policy is paid on top of the amount that would have been paid under the term life insurance contract. The term "colonial Penn" can be somewhat misleading as it refers to a specific financial institution, not to any specific product or service. The exact definition of "life insurance colonial Penn" could vary based on context and industry terminology. It's recommended to research more information or use a reliable source for accurate definitions.
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