Colonial Penn Salary

Colonial Penn Salary

How much does the Colonial Penn Pay for employees?

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As of July 2026, the average annual salary for employees at Colonial Penn in the United States is $95,829. This translates to an approximate hourly wage of $46. Salaries at Colonial Penn typically range from $84,268 to $108,453 annually, reflecting the diverse roles and experience levels within the company. Colonial Penn’s salaries are influenced by a wide range of factors including job role, department, years of experience, and location.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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Current Job Openings at Colonial Penn

Ready for your next career move? Explore current job openings at Colonial Penn. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Colonial Penn’s Pay Competitive? Salary Benchmarking Analysis

How does Colonial Penn’s compensation stack up against the market? This analysis visualizes their annual average salary compared to its industry benchmark and key peer companies.
Peer Company & Industry Benchmarking
180k
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Average Salary ($/year)
Colonial Penn
Insurance
American General Life Co
The Mendenhall Financial Group
Industry Comparison
Our data shows that, on average, compensation at Colonial Penn is below the average for the U.S. Insurance industry by approximately 23%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Colonial Penn average annual salary with several similar companies. Colonial Penn average salary of $95,829 is lower than American General Life Co, which has an average salary of $102,569. It is lower than The Mendenhall Financial Group, with their average salary at $105,280. This places Colonial Penn in a developing position among its peers.
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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.

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
47
2
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
34
3
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
30
2
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
33
3
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
26
1

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
-
Social Media
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.

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