Where is Colonial Penn located?

Colonial Penn is headquartered in Carmel, Indiana, but may have operations in other locations within the Insurance sector.

What industry is Colonial Penn in?

Colonial Penn operates in the Insurance industry.

Colonial Penn Average Salary, Pay Ranges & Benefits

Q: What does Colonial Penn do?

According to the company's overview, The Colonial Penn® Program is underwritten in most states by and is a registered trademark licensed by Colonial Penn Life Insurance Co, Philadelphia, PA.

Colonial Penn Salary

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Salary at Colonial Penn

Current Job Openings at Colonial Penn

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Is Colonial Penn’s Pay Competitive? Salary Benchmarking Analysis

How does Colonial Penn's compensation stack up against the industry and its key competitors? Our salary benchmarking analysis provides a clear comparison. The chart below visualizes this comparison alongside select peer companies.

Competitor / Benchmark	Avg. Salary	Variance	Primary Market Influence Factor & Explanation
American General Life Co	$102,569	+7.0%	Reflects structural premiums typical of American General Life Co's large-cap national operations.
The Mendenhall Financial Group	$105,280	+9.9%	Reflects a supply-demand imbalance for the specific talent The Mendenhall Financial Group targets.
Texas Utilities System Employee Group Life Insurance	$95,438	-0.4%	Indicates identical technical requirements and experience levels between the two firms.
Aventine Hill Partners Inc	$99,394	+3.7%	Data suggests Aventine Hill Partners Inc's workforce skews heavily towards veteran, high-tenure roles.
Insurance Industry	$123,858	+29.2%	Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors.

Need More Granular Data? The analysis above provides a high-level market overview. To benchmark specific job codes, adjust for real-time cost-of-living changes, or access verified HR-reported datasets, upgrade to Salary.com for Business. Precision matters when building your compensation strategy.

How Colonial Penn's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Colonial Penn. Click a company name to learn more.

American General Life Co

$102,569 / year

Salary Range: $90,197 - $116,074

Dover, DE

The Mendenhall Financial Group

$105,280 / year

Salary Range: $92,579 - $119,134

Bensalem, PA

Texas Utilities System Employee Group Life Insurance

$95,438 / year

Salary Range: $83,920 - $108,001

Pittsburgh, PA

Aventine Hill Partners Inc

$99,394 / year

Salary Range: $87,402 - $112,477

Birmingham, MI

American General Life Co

$95,291 / year

Salary Range: $83,791 - $107,831

Tucker, GA

Mutual Life Insurance Company of New York

$118,823 / year

Salary Range: $104,492 - $134,474

New York, NY

Equitable Life Assurance

$87,654 / year

Salary Range: $77,084 - $99,173

Muncie, IN

Cairnstone Inc

$95,248 / year

Salary Range: $83,764 - $107,794

Indianapolis, IN

Mim Health Plans Inc

$93,592 / year

Salary Range: $82,298 - $105,916

Indianapolis, IN

Employee Reviews: Working at Colonial Penn

Considering a career at Colonial Penn? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.

Benefits are standard, and the work environment is low-stress. The collaborative atmosphere makes teamwork seamless, and managers are supportive of new ideas. The work is challenging but rewarding, with clear performance metrics. Benefits meet industry expectations.

Commented in February 23, 2025

Benefits meet industry standards, and workloads are manageable. Work-life balance is respected, and the benefits package is comprehensive. The company offers a positive work environment with strong team dynamics. The office environment is professional, though some departments have more interaction than others. The work environment is professional, and expectations are clearly communicated. Great w...

Commented in October 06, 2024

The hybrid work model is a big plus, allowing flexibility without sacrificing productivity. I’d recommend this company to anyone looking for stability and growth in insurance. It’s a good fit for those who prefer a steady, low-drama workplace. The company follows industry standards well, making it a reliable employer.

Commented in September 05, 2024

Strong training programs and career growth opportunities. The benefits, including retirement plans, are competitive. The insurance industry can be demanding, but the culture here makes it enjoyable. The company also encourages professional development through workshops and courses. Team dynamics are strong, and management encourages innovation.

Commented in June 28, 2024

Colleagues are generally cooperative, and there’s minimal turnover in my department. The insurance training is excellent, and managers are supportive. Workloads are manageable, though some processes could be modernized. I appreciate the emphasis on employee well-being, making it a fulfilling place to work. The team is supportive, and management is flexible when needed.

Commented in March 27, 2024

Colonial Penn Overview

Website

www.mycolonialpenn.com

Founded In

Data pending, update soon.

Employees

50 - 100 employees

Industry

Insurance

Headquarter Address

PO Box 1918 Carmel Indiana IN 46082

Revenue

$10 Million - $50 Million

Phone Number

About Colonial Penn

The Colonial Penn® Program is underwritten in most states by and is a registered trademark licensed by Colonial Penn Life Insurance Co, Philadelphia, PA. For policies issued in NY, the Colonial Penn® Program is underwritten by and is a registered trademark licensed by Bankers Conseco Life Insurance Co, Jericho, NY. Colonial Penn Life Insurance Co is not licensed in and does not solicit business in

What Benefits Does Colonial Penn Offer Beyond Salary?

A competitive compensation package is more than just a salary. Colonial Penn offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:

Social Security

401(K)

Disability

Healthcare

Pension

Time Off (days)

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What Is the Cost of Living Near Carmel?

Understanding the cost of living near Carmel is key to truly evaluating a salary offer or your current compensation at Colonial Penn.

Carmel's Cost of Living Index is approximately 108.8 (8.8% more expensive than US average; 20.1% more than IN average). Affluent Indianapolis suburb, excellent schools, high housing costs. IndyGo access. When planning your budget based on a salary from Colonial Penn, consider these typical monthly expenses:

Expense Category	Estimated Monthly Cost	Key Considerations / Notes
Housing (1-BR Apt Rent)	$1,500 - $2,300+	A significant portion of Colonial Penn salary. Location choices impact this heavily.
Utilities (Basic)	$140 - $230	Electricity, Heating, Cooling, Water etc.
Public Transportation	IndyGo access (varies)	Essential for most commuters; car ownership is costly.
Groceries (Single Person)	$420 - $620	Can be higher with more dining out or specialty stores.
Personal & Leisure	$450 - $800+	Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual)	$390 - $720+	Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes)	$2,900 - $4,670+	This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Colonial Penn

1. What is the typical salary range (low to high) for most roles at Colonial Penn?

The typical annual salary range for most roles at Colonial Penn is approximately from $84,268 to $108,453. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills, and location.

2. How much does Colonial Penn pay compared to American General Life Co?

The average annual salary at Colonial Penn is $95,829, or an hourly wage of $46, in comparison to American General Life Co which pays $102,569 per year or $49 per hour.

3. How does experience level affect salary at Colonial Penn?

Experience level is a significant factor in determining salary at Colonial Penn, as it is with most employers. Generally, employees with more years of relevant experience and a proven track record can command higher salaries. For example, a senior-level role will typically have a higher pay band than an entry-level or mid-career position within the same job family.

4. How can I determine if a salary offer from Colonial Penn in Carmel is fair given the local cost of living?

To determine if a salary offer from Colonial Penn in Carmel is fair, first compare the gross salary to our data for similar roles at Colonial Penn and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Carmel" to understand its purchasing power.

5. Are the salaries listed for Colonial Penn on Salary.com pre-tax or after-tax?

All salary figures displayed for Colonial Penn, including average base salary and estimated total compensation, are pre-tax amounts. They do not account for federal, state, or local income taxes, nor deductions for benefits like health insurance or 401(k) contributions.