United American is a well-respected insurance company offering a variety of insurance types to Americans of all ages, including life insurance.
And this is what our review focuses on today, their life insurance products and features. We look at their basic company history, the types of coverage they offer, and the pros and cons of the carrier.
It’s our goal to break down this life insurance company so you can get a better idea of what it’s all about. We know there are a lot of different providers out there, so it’s important you can easily compare and contrast the various insurance choices available to you.
Here’s our thorough United American Insurance Company review so you can decide if their life insurance is right for you.
Our United American Insurance Company Review
The three most important things to know about United American are:
- Life insurance is just one of their product lines
- Superior financial ratings from several agencies
- In business for over 70 years
Right from the get-go, we’d like to pound down the fact United American isn’t completely focused on life insurance, like many other providers.
At first, this might seem like a cause for concern. You often feel more secure when selecting life insurance from a provider who specifically specializes in it.
However, United American’s track record speaks for itself. They have a solid financial health rating from A.M. Best, having solidified an “A+,” a very strong rating of “AA-” from Standard & Poor’s, as well as solid ratings (“A+“) from the Better Business Bureau.
They have their pros and cons, but their life insurance products, specifically, are worth looking at.
What UA Is All About
United American Insurance Company boasts a true American success story.
The company was founded in 1947 with just a single employee. The hard work of the single employee and founder, C.L. Dunlap, paid off as United American grew tremendously over the next several decades.
Today, United American boasts over 500 employees. Though it’s a lot more than a single employee, it’s still relatively small by insurance company standards.
Their relatively small size enables United American to offer superior customer support to its policyholders and other customers, and still get the feel of working with a small company rather than a large corporation.
Despite their success over the years, the company still stands by its original ideals for quality and customer satisfaction.
What Makes United American Unique
There are a handful of factors which help United American to stand out from the pack.
Chief among these is the large number of insurance types and their additional features they offer. The large number of choices helps to ensure customers find the absolute right policy for them, even beyond just a life policy.
Most of United American’s policies can be further tailored, too. Talk to one of their life insurance agents to find out how yours can be made even better for your individual needs.
In addition to the options they offer, United American is unique in that they offer other forms of insurance, in addition to just life insurance. This makes it easy to take care of many of your insurance needs in a single place, especially for things which go hand-in-hand, like life and critical illness policies.
Among the many other types of insurance that United American offers are:
- Group retiree health
- Medical supplements
- Cancer and critical illness
The Application Process
The United American application process for life insurance has its pros and cons.
Unfortunately, the company doesn’t yet offer an online application. All applications are paper-based and must be done in person with a qualified agent.
Such paper applications are the traditional way to apply for life insurance. A lot of companies still use them because they’re time-tested and work, but also most secure.
However, the recent trend in the life insurance business is towards convenience. Many potential customers and policyholders find it much more convenient to apply online – or at least over the phone.
We’d like to see United American implement a better online application process shortly.
That said, you can expect an underwriting time of your United American life insurance application to extend up to 4 to 6 weeks, which holds up to industry par.
You should receive a response to your application, as well as your coverage rating, at the end of this 4 to 6 week period.
United American offers a wide variety of additional features in addition to their normal life insurance plans.
Before we mention these additional features, let’s first look at the main types of plans they offer:
- Term Life – Coverage for a limited time without set premiums. The least expensive option. No cash build up.
- Whole Life – Coverage for your entire life. Set premiums and has cash value components.
Beyond these main coverage types, the additional features offered by United American include portability, meaning you can take the policy with you, even if you leave your current workplace.
What We Like About United American
We like United American for their honest take on life insurance. This alone helps them stick out from the competition.
A few of their other top benefits worth considering include:
- Simple and straightforward plans
- The main combo of coverage types
- Health and critical illness coverage
- Strong financial health ratings
- Excellent customer service
The policies they offer are simple and straightforward. They make them so anyone and everyone can easily understand them, whereas many other providers can get too complex trying to cover every need.
The variety of options United American offers is also nice.
Those with a critical illness will appreciate their health and critical illness rider. Designed specifically for life insurance, it helps cover 50% of your out-of-pocket deductibles as well as coinsurance and co-payments.
Finally, the strong financial health of United American and the excellent customer service they offer are always good reasons to strongly consider this life insurance company during your search for the right coverage.
What We Don’t Like About United American
In your search for the best life insurance, it’s just as important to consider each company’s negatives as it is their positives.
When it comes to United American, the main negative is just how traditional their application process remains.
It’s a completely traditional process which requires speaking with an agent, filling out a paper application, taking a medical examination, and then waiting 4 to 6 weeks.
Of course, this is the tried and true standard, but we’d love to see United American adopt the option for an online or phone application shortly, or at least the ability to skip the medical.
Who Is United American Best for?
We’d recommend everyone at least take a look at United American’s life insurance offerings and compare them to other companies who interest you.
That said, United American is particularly beneficial for the elderly, as well as those with a critical illness.
Their health and critical illness waivers make them an attractive life insurance option for those struggling with a major health problem, or those whose relatives have before them.
United American’s Customer Service
In our opinion, United American is hit or miss in the customer service category.
What we mean is this: the customer service is excellent when you’re able to reach a dedicated representative.
All of their representatives are friendly, knowledgeable, and professional. They’ll be able to answer your questions quickly and accurately.
The negative is how hard it is to reach customer service representatives. Though a handful of contact phone numbers are provided, United American emphasizes their online contact form found on their website.
We’d like to see them make it easier to contact live representatives on the phone rather than relying on time-intensive emails for support.
United American Insurance is an above average choice for your life insurance needs.
They have several features and characteristics which are beneficial, particularly their strong financial rating, but have others which slow them down, such as the difficulty in contacting live customer support representatives.
We encourage you to look into your other life insurance options while considering United American to find the best life insurance for you and yours.
Let us know if we can help or answer any other questions.
|Company Name (and Subsidiaries)||United American Insurance Company|
|Company Ratings||A.M. Best (A+)|
Moody’s Investors Services (N/A)
Standard & Poor’s (AA-)
|Headquarters (Address, Phone, Web)||P.O. Box 8080|
McKinney, TX 75070
|Policy Types Available||Term|