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Colonial Insurance Company

Colonial is a life and accident insurance company that particularly aims at helping American workers, since its foundation. Their first and foremost mission is to preserve as well as protect the most significantly essential things they work on very hard to build. It is located with its headquarters at Colombia of South Carolina.

History

In the year 1937, Colonial insurance company was first started by Edwin F. Averyt and J. Clifton Judy. The first insurance they started was for accidental death coverage. It was named as Mutual Accident Company. Later in the year 1939, it was renamed as Colonial Life & Accident Insurance Company with its goal to protect and help American workers. While in the year 1955, it has laid the foundation to introduce work-site marketing of voluntary benefits but that has to be done only with the help of payroll deduction. 

It was the first life insurance company which has introduced and also implemented computer technology in 1970’s only. While in 1980’s it started to market insurance policies with the help of section 125. In the same year it also introduced nationwide enrolling capabilities in electronic way. Online enrollment system was introduced by this company in the year 2000. Present CEO of the company is Randall C. Horn.

Policies

Colonial insurance company provides various beneficial policies to American workers just to help them protect their lives and families. All these policies will have following benefits:

  1. If a policy is selected then that coverage will be applicable for both spouse as well as children of the worker.
  2. Benefits of the particular policy will be paid directly to the insurer only unless it is mentioned on the name of other person.
  3. Though there will be a change in job or else in-case of retirement policy coverage can be continued with-out any increase in any premium charges.
  4. Even though the insurer has any other insurance policies with other companies regardless of that they will be receiving these benefits.

The following are the beneficial insurance policies provided by colonial insurance company:

  1. Accident Insurance
  2. Cancer Insurance
  3. Critical Illness Insurance
  4. Disability Insurance
  5. Hospital Confinement Insurance and
  6. Life Insurance

Prices

Prices for the policies at the Colonial life insurance vary according to the policy selected and term of the policy.

Process of Claiming a Policy

Filing a claim is an easy process at Colonial life insurance company which can be done through following:

  1. Online Forms: By submitting an online claim at this company it helps to get paid at a faster rate.
  2. Claim Forms:  It helps to download a claim form of the policy we want to select.
  3. Service Forms: These services forms will help in some cases such as to change of ownership or any others.
  4. Claim Videos: These videos will assist in filing a claim.

It also helps to check the status of the claim or in-case if a new claim as to be filed then it can be accessed by just logging into the site.

Colonial Insurance Company Info

Lines of Insurance: Life, Disability

States licensed to sell insurance in: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

Type of Insurance Company: Mutual

Name of Parent Company:
UNUM Group

Colonial Insurance Company Rating: A-

Company Financial Status:
Assets & Premiums: 2006 Premiums: $879 Million
2006 Assets: $1.774 Billion
Moody's rating: Baa1 (adequate)
Standard & Poor's rating: BBB+ (good)
Fitch rating: A- (strong)

Colonial Insurance Company  logo

Colonial Insurance Phone Number & Contact Details

Colonial Insurance
President   Randall C. Horn
P.O. Box 1365
Columbia, SC 29201-1365
800-325-4368

Colonial Insurance Company Business Information

Location Type Branch
NAICS Code 524210, Insurance Agencies and Brokerages

Colonial Insurance Company Executives

Randall C. “Randy” Horn
President and Chief Executive Officer
Colonial Life
Henry Price
Senior Vice President – Customer Acquisition Services
Colonial Life
Annaclair Kiger
Senior Vice President – Customer Service and Information Technology
Colonial Life
David Parker
Senior Vice President – Finance and Risk Management
Colonial Life
L Kennedy “Kenny” Boggs
Senior Vice President – Legal and Compliance for Colonial Life
Tom Gilligan
Senior Vice President – National Sales
Colonial Life