United Home Life is a smaller life insurance company who serves a smaller demographic. While their target market is a bit different than most, they do have products which make a good fit for a select few. If you’re curious what they have to offer, or want to learn about the carrier, continue reading.
Our United Home Life Insurance Company Review
Following the Great Depression, one of the hardest economic times in America’s history, a new company by the name of United Farm Family Life emerged. After they got their start in 1937, it was only 11 years later when United Home Life was born.
These two companies, both still in existence today, are hard focused on quality life insurance products in a few select niches. While they aren’t a powerhouse provider like many of the massive carriers on our best life insurance companies list for 2016, they serve a definite purpose in the life insurance industry and, combined, have more than $20 billion of life insurance currently on the books.
One of the key indicators for any life insurance company is their current financial ratings. This rating is indicative of solvency, claims paying ability, and overall stability of the company. United Home Life was recently affirmed as an “A-” by A.M. Best, which is the fourth highest rating available. United Farm Life has been rated an “A” which is the third highest rate offered by the the premiere rating agency. Additonally, United home Life is rated by the BBB as an “A-” with just 1 complaint in the last year.
Both life insurance companies, UHL and UFF Life, have a combined $2 billion in assets.
As noted previously, the products United Home Life offers serve a direct purpose for a smaller demographic, and their position among the elite no exam life insurance companies is one of those areas. They aim to aid consumers in products such as simplified issue, graded, and guaranteed issue underwriting styles, meaning there are no exams required for coverage. They have term life, whole life, and accidental choices in their arsenal.
There are three simplified term products offered by UHL, the Express Issue Term 20, Express Issue Term 30, and Premier 20. As with all of their life insurance products, there are no medical exams. The number simply represents how long the guaranteed period is on the policy, and the Premier is different than the first two because it offers return of premium. Return of premium pays back the funds you paid to own the policy, but only if you keep the policy the full 24o months.
Their simplified whole life options, The Express Issue Premier, and Express Issue Deluxe, and Provider, give you access to permanent policies, again, without a medical exam. They all sport an immediate death benefit, which means you will need to be in at least a decent state of health. If health is a concern, but not major, you may need to utilize their graded option, the Express Issue Whole Life (EIWL), where you’ll have a two year graded benefit.
If your health is so restricted you still can’t qualify for the graded product, you can use their guaranteed product at a higher premium, called the Guaranteed Issue Whole Life. Like the graded choice, immediate payout is not available, and a three year waiting period is attached to this option.
Anyone who wants to avoid the medical exam may need to consider United Home Life. While they aren’t the best priced for many term products, their graded and guaranteed rates rival those of Gerber and Fidelity for many different age groups.
|Company Name (and Subsidiaries)||United Home Life Insurance Company
United Farm Family Life Insurance Company (Parent)
|Company Ratings||A.M. Best (A-)
Moody’s Investors Services (n/a)
Standard & Poor’s (n/a)
|Headquarters (Address, Phone, Web)||225 South East Street
Indianapolis, IN 46202
|Policy Types Available||Term