United Home Life insurance company is highly regarded in the impaired risk and final expense marketplace. As a matter of fact, diabetics do very well finding life insurance coverage at UHL.
When it comes to purchasing life insurance, there are some important criteria that you will want to consider – the type of policy you desire and the amount of coverage your situation requires.
However, something often overlooked is whether the insurance company that you are considering purchasing coverage through is financially stable and strong. This information is important to know when making your decision because you want to ensure that the company will be able to properly pay any claim filed by your family or loved ones.
One such life insurance company known for their great reputation is United Home Life Insurance Company. Those that purchase life insurance coverage from United Home Life, can be confident that they will be covered at the time of their passing.
A Little About the United Home Life…
For 70 years, United Home Life Insurance Company has been providing consistent coverage for its policyholders. Actually, the company is a subsidiary of United Farm Family Life, which got its start in 1937 and is now headquartered in Indianapolis, Indiana. These are a couple of the best life insurance companies available for life insurance.
Primarily known for their final expense insurance, burial insurance, simplified issue life insurance, and Age 50+ life insurance, this company does not require a medical exam prior to policy approval. What this means for consumers is that even in the presence of a serious medical condition, you will be approved.
United Home Life and United Farm Family Life have a combined total of $2 billion in assets and over $20 billion of policies in force.
Ratings and The Better Business Bureau
United Home Life Insurance Company is regarded as one of the leading life insurance providers in the United States due to its financial stability and strength, as well as their timely accommodation of paying the claims of its policyholders.
Both United Home Life and United Farm Family Life have been given an “A” (Excellent) rating by A.M. Best, which is the top insurance rating agency.
Additionally, the insurance provider received its accreditation from the Better Business Bureau (BBB) in May 2016 and has received an “A+” grade. The providers parent company, however, is not accredited with the BBB, but has been given an “A+” grade.
United Home Life Insurance Company Products
Both United Home Life and United Farm Family Life have a limited product line for life insurance coverage. They offer term and whole life insurance but do not have an indexed ul policy. Both of the companies provide strong no medical exam term and whole life insurance policies.
Term Life Insurance
This policy, which is offered by both companies, provides life insurance coverage for a specified amount of time, known as a term. Once the defined term ends, the premium will go up each subsequent year until the end of the policy, which is usually once the policyholder reaches the age of 95.
The following are the term life policies that are offered:
Premier 20 with ROP
This policy has a level premium for a period of 20 years, guaranteed. Once that 20 years ends, the premium will increase yearly. ROP is the return of premium feature, which means at the end of the term if the insured survived the policy, the premium is returned.
Express Issue Term 20
This policy has a level death benefit and a level premium guaranteed for a period of 20 years. After the 20-year term, the premium will go up annually unless the term policy is converted. There are four riders that can be added to this policy allowing the insured to further customize their policy.
Express Issue Term 30
This policy is just like the Express Issue Term 20 except that the guarantee for a level death benefit and level premiums is for a period of 30 years. The premium with this policy will also increase annually after the 30-year term and there are four riders available for policy customization.
No medical exam is required for these simplified issue policies, and as long as the premiums are paid, the policy cannot be terminated prior to the ending of the term period.
Permanent Life Insurance
United Home Life Insurance Company offers a permanent life insurance policy known as Provider Whole Life. This policy offers a death benefit and a cash value component. As with other whole life policies, the cash value grows tax-deferred. Additionally, this is considered a graded benefit whole life policy, which means that if the insured dies from natural causes within the first two years of the policy, the premiums paid in will be refunded with interest. Once the policy enters year three, the death benefit would be paid to the beneficiary. Additionally, there are several riders available to add to the policy at no cost.
Final Expense Life Insurance
United Home Life and United Farm Family also offer numerous simplified issue final expense whole life insurance policies as well. With these plans the death benefit and premiums are guaranteed to remain level. There is also a cash value component, which allows the funds to grow in a tax-deferred manner.
The final expense products available through this provider include Express Issue Whole Life, Express Issue Premier, and Express Issue Deluxe. Riders are available as well for these policies allowing further customization for the insured.
Accidental Death Protection
Known as the Protector AD, this accidental death insurance policy is an affordable extension to be added to an existing life insurance policy. The coverage amount doubles over a span of 20 years. The premium remains level and is guaranteed for 20 years, with premiums increasing annually after the 20 years.
While United Home Life might be the best insurance carrier for your particular needs, it is just one of the multiple life insurance carriers in the market today. As with other insurance companies, United Home Life doesn’t fit every individual’s situation.
In order to find the best policy for your specific needs with the most affordable premium rates, you will want to enlist the assistance of a reputable independent insurance agency or independent life insurance agent that has access to more than a few insurance providers. In this manner, you are able to compare different life insurance companies side-by-side and determine which policy is right for you and your loved ones.