Colonial Life Logo
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6 User Reviews
LAST UPDATED: September 20th, 2021

Colonial Life began as an accidental death insurance company called Mutual Accident Company. The company officially became Colonial Life in 1939 and has continued to grow since.

Now part of the Unum Group, a Fortune 500 and publicly traded company (UNM), Colonial Life acts as an independent subsidiary, continuing with business as usual. 

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The Good

  • World Wide Coverage
  • Coverage Continuation
  • Payment Timeline

World Wide Coverage

Accident insurance claims can be made from anywhere in the world. This allows for stress-free travel without needing to worry about what could happen in a different country. Since claims are paid out in cash or direct deposit, paying for services not covered by health insurance is easy.

Coverage Continuation

Even when facilitated by an employer, the insured owns the accident policy. This means that in the event of a lay-off or switch of employers, the accident policy will still be in the name of the insured.

Colonial Life will ask for a Continuation of Coverage form to be filled out and direct payment to be established. Then accident coverage can continue seamlessly. 

Payment Timeline

Some customers have complained that the claims process is tedious and long and that the time it takes to receive the cash benefit is longer than expected.

This is a complaint from clients of most insurance companies. Some clients do state that they received timely payments, so it may depend on the type of claim or complexity of the case.

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The Bad

  • Non Transparent
  • Difficult to Cancel
  • Claim Submission Difficulty

Non Transparent 

There is a lack of specific coverage information as well as pricing available on the website. Potential customers are instructed to speak with their employer regarding specifics on policies.

Difficult to Cancel 

There is no clear way to cancel an existing policy online; a call to a representative is required. The company may want to consider adding this feature to its website as many customers prefer the convenience of conducting business online.

Claim Submission Difficulty

Customers have complained that the paperwork required for a claim is lengthy, redundant and paperwork often gets lost in the shuffle. This is a common complaint in the insurance sector. Double checking all information before submission and calling to check up on claim are good ideas.

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The Bottom Line

Colonial Life is an insurance company with a long history and as a part of the Unum Group the company is financially stable.

The payment options are convenient as well as the option to keep coverage even after switching employers. Pricing and coverage will have to be discussed with a company HR Rep or insurance agent who works with Colonial Life.

Overall, the company has lower than average customer complaints, and difficulty with claims is an issue seen throughout companies in the insurance industry.

View Best Accident Insurance Companies

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Star Rating

4.2

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6 Reviews

Review Breakdown

5 grade

50%

4 grade

33%

3 grade

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2 grade

17%

1 grade

0%

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Review Source

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Juan vega Waterbury, CT

I selected this insurance through my job however the agent that sold me the policy wrote my information wrong I call numerous times and so far I got no response from them I’m waiting for the year to end and get out of it since they don’t even let me cancel the policy even with the wrong information

2 months ago

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