United Home Life Insurance Company (UHL) Review
Today we are going to review United Home Life Insurance Company and its parent company United Farm Family Life. We will go over their history, ratings, and what types of products that they offer.
United Home Life Insurance Company was established in 1948 and has been offering life insurance coverage to consumers for over 70 years.
It’s parent company United Farm Family Life was started in 1937 and it’s headquarters are located in Indianapolis, Indiana.
Today, both companies have a combined $2 billion in assets and more than $20 billion of inforce life insurance polices. This positions United Home Life well to meets its obligations to there customers.
The motto for United Home Life is “life insurance made simple.” They are one of the few companies that offer no exam life insurance to it’s customers.
United Home Life Insurance Company and United Farm Family Life offers a broad portfolio of simplified issue and guaranteed issue products.
The philosophy of United Home Life Insurance Company is:
We believe passionately that buying life insurance doesn’t need to be complicated. We continually strive to simplify the application and underwriting process so that our policyholders can purchase life insurance coverage as simply as possible.
United Home Life & United Farm Family Life Ratings
United Home Life and United Farm Family Life both boasts strong ratings from A.M. Best. A.M. Best has been a leading analyst of the insurance business since 1899.
United Home Life Insurance Company is assigned a rating of “A-” (Excellent) while United Farm Family Life received an “A” (Excellent) rating.
Today, both companies have a combined $2 billion in assets and more than $20 billion of inforce life insurance polices. This positions United Home Life well to meets its obligations to there customers.
The BBB or Better Business Bureau also give United Home Life an “A-” ratings. An “A-” rating with BBB means the majority of complaints have been resolved to the consumers’ satisfaction.
Types of Life Insurance Offered By United Home Life
United Home Life Insurance Company offers a variety of life insurance products, such as:
United Home Life (UHL) Term Insurance
United Home Life offers a portfolio of simplified issue term life insurance. There term life is designed to cover a variety of consumers based on age, if you use tobacco, and health. Features of United Home Life’s term product are:
- No routine medical exams, blood work, or physician’s statements.
- Short application with yes/no health questions to help us determine eligibility.
- Guaranteed level premiums for the length of the initial term period followed by premiums that increase annually.
- Guaranteed renewable coverage to age 95
- Coverage that can’t be cancelled so long as premiums are paid on time.
- Riders and benefits that can help tailor these products to your particular needs.
United Home Life offers 4 different types of term life insurance:
- Simple Term 20– Level death benefit with a 20 year premium guarantee.
- Simple Term 30– Level death benefit with a 30 year premium guarantee.
- Simple Term 20 w/Return of Premium– Level death benefit with 20 year premium guarantee. At the end of 20 years all premiums paid in are returned.
- Simple Term 20 DLX– Level death benefit with an initial 20 year premium guarantee. After 20 years, premiums increase on an annual basis.
Riders offered by United Home Life (UHL
All the term life products offered by UHL come with the terminal illness rider which allows you to access up to 80% of your death benefit early if you are diagnosed as terminally ill.
Other riders offered at an additional cost are:
- Waiver of premium if you become disabled
- Accidental Death Benefit
- Child Rider
United Home Life Whole Life Insurance
Simplified issue whole life or final expense insurance is for consumers who have had health problems in the past. These policies don’t ask a whole lot of health questions which makes it easier to qualify for instant coverage.
The main drawback of these types of policies is the limited face amounts available and the pricing.
United Home Life Insurance Company offers a variety final expense policies. There are 3 policies offered:
Express Issue Deluxe
This policy offers day 1 coverage and is used for consumers with some health problems. These policies come with a guaranteed premium and death benefit.
- Issue Ages: 20-80
- Face Amounts: $5K-$50K
Express Issue Premier
This policy offers day 1 coverage with a guaranteed premium and a variety of riders to help customize for your specific needs.
This is very similar to the Express Issue Deluxe but comes with a higher death benefit option. It works well for consumers with type 2 diabetes or controlled high blood pressure
- Issue ages: 20–80
- Face amounts: $5,000–100,000 (through age 60)
- Face amounts: $5,000–50,000 (ages 61-80)
Express Issue Whole Life
This is UHL’s graded death benefit whole life policy. During the first two policy years, the benefit for death by natural causes is a refund of all premiums paid to date plus interest.
Beginning day one of policy year three, the full benefit is payable to your beneficiary. For death due to accidental causes1 during the first two policy years, the full death benefit will be paid to your beneficiary
- Issue ages: 25–80
- Face amounts: $2,000–25,000
- Year 1 pays refund of premium plus 12% interest
- Year 2 pays refund of premium plus 24% interest
Guaranteed Issue Whole Life
This is UHL’s guaranteed issue whole life policy. This policy asks no health questions at all and you are guaranteed approval. Death benefits are limited to a maximum of $10K.
UHL Accidental Death Insurance
United Home Life also offers an accidental death insurance called the Protector AD. This plan is an inexpensive addition to your existing life insurance coverage, not a replacement. The accidental death benefit doubles over 20 years and the premium is guaranteed for 20 years.
After 20 years the premium increases on an annual basis. These policies also come with a return of premium rider and only asks one non health question on the application.
- Guaranteed issue if you have a good driving history and are not involved in high-risk hobbies or employment
- Issue ages: 18–60
- Level premiums with “ROP” at year 20
- 3 amount are available: $50,000, $75,000 $100,000
United Home Life vs The Competition
Life Insurance for Diabetics
If you are diabetic, especially insulin dependent, then you know how hard it is to qualify for life insurance. This is where United Home Life can help. They offer day one coverage to insulin dependent diabetics up to $50,000 of coverage.
You can choose either there term life or whole life product. Both offer:
- Up to $50,000 in coverage!
- Premiums that are guaranteed.
- Optional Accidental Death Benefit Rider and Child Rider.
- Simple application with yes/ no health questions to help us determine eligibility.
- No medical exams or bodily fluids testing.
- You may still be considered, even if you’ve been declined by another carrier!
Final Thoughts
If you are looking for a small final expense policy then United Home Life could be a fit for you. They specialize in final expense products and have a variety of products that fits most consumers. They are highly rated and been insuring consumers for over 70 years.
But it is still important to work with an independent agent who can shop all the carriers to find what best fits your situation. If we can help you with this process please don’t hesitate to give us a call.
Frequently Asked Questions
Is United Home Life a reputable company?
United Home Life Insurance Company is assigned a rating of “A-” (Excellent) while United Farm Family Life received an “A” (Excellent) rating. Today, both companies have a combined $2 billion in assets and more than $20 billion of inforce life insurance polices. This positions United Home Life well to meets its obligations to there customers.
Does United Home Life offer no exam life insurance?
The motto for United Home Life is “life insurance made simple.” They are one of the few companies that offer no exam life insurance to it’s customers. United Home Life Insurance Company and United Farm Family Life offers a broad portfolio of simplified issue and guaranteed issue products.
How long has United Home Life been in business?
United Home Life Insurance Company was established in 1948 and has been offering life insurance coverage to consumers for over 70 years. It’s parent company United Farm Family Life was started in 1937 and it’s headquarters are located in Indianapolis, Indiana.