Today, life insurance companies come in all shapes and sizes. Some life insurance companies are big, and others are small. What matters most is are they the right company for your family.
The United Home Life Insurance Company is a smaller life insurance company, but it’s laser-beam focused on the clients and markets that it serves.
United Home Life focuses on a core suite of no-exam life insurance products. However, United Home Life did not make our best no-exam life insurance companies list.
United Home Life is reliable from a financial strength standpoint, but their prices and features don’t always hold up against the best of the best for no-exam life insurance.
Also, United Home Life burial insurance is not always the most competitive. UHL has a niche for insulin-dependent diabetics, but so do other top burial insurance companies as well.
However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.
You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.
United Home Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.
You can do this easily by using our rate engine directly below.
Let’s dig deeper.
United Home Life Insurance History
The United Home Life Insurance Company got its start following the Greatest economic catastrophe in American history, the Great Depression, as United Farm Family Life in 1937.
While this may seem like a curious time to start a life insurance company, the need was great as many trusted financial institutions were failing.
In 1948, the United Home Life Insurance Company was founded, and it eventually merged together with United Farm Family Life to manage over $20 billion of life insurance today!
The United Home Life Insurance Company’s primary focus is to provide affordable and flexible life insurance to its customers for final expenses, mortgage protection, and family protection.
As one of the early pioneer of simplified issue life insurance, United Home Life is committed to the customer experience by not requiring invasive medical exams.
Life insurance doesn’t need to be complicated, and United Home Life embodies that philosophy
What are United Home Life’s Ratings?
The United Home Life Insurance Company, and its parent company, currently hold over $2 billion in assets combined. Additionally, United Home Life is financially strong.
A.M. Best has been a leader in independent financial analysis since 1899. A.M. Best awarded United Home Life a rating of A- (Excellent) and A (Excellent) to United Farm Family Life.
Both of these ratings indicate strong financial strength and likelihood that both life insurance companies can financially meet their obligations to policyholders.
United Farm Family Life Insurance Company, the parent company of United Home Life, is also an A+ rated company of the Better Business Bureau (BBB).
Is United Home Life Insurance Worth It?
United Home Life insurance serves specific life insurance niches so, if you are looking for no-exam life insurance or are an insulin-dependent diabetic, UHL is worth a look.
United Home Life offers quality simplified issue term life insurance, burial insurance, and accidental death insurance.
You can layer your protection with United Home Life having a base level of life term life insurance coverage, on top of a burial policy and supplemental accidental death coverage.
United Home Life Insurance Solutions:
- Term Life Insurance
- Whole Life Insurance (Burial Insurance)
- Accidental Death Insurance
- Diabetic Life Insurance Solution
United Home Life Term Life Insurance
Term life insurance is simple and straightforward pure death benefit protection. Term life insurance allows you to buy larger death benefits temporarily at an affordable monthly rate.
Term life insurance is ideal for covering temporary needs like income replacement, higher education expenses, or protecting your mortgage.
Many life insurance companies will want you to take a medical exam before they’ll make you an offer for coverage. Not United Home Life, however.
United Home Life only offers simplified issue life insurance that waives the medical exam. Just a few health questions and background check in order to determine if you qualify.
Just like fully-underwritten term life insurance, your coverage cannot be canceled as long as you pay your bill and your premiums are locked in for the term duration that you select.
United Home Life offers term durations of 20 and 30 years. You also have the option of a return-of-premium term policy.
A return-of-premium life insurance policy will return the premiums that you paid into the policy if you survive the term, but ROP life insurance rates are typically higher than a normal term policy.
Optional Riders for United Home Life Term Life Insurance:
- Waiver of Premium Rider
- Accidental Death Benefit Rider
- Child Rider
- Terminal Illness Rider
United Home Life Whole Life and Burial Insurance
United Home Life offers four whole life insurance options for its clients. Unlike term life insurance, which is temporary, whole life insurance is lifelong coverage.
Whole life builds guaranteed cash value that can be borrowed on a tax-advantaged basis during the policy or taken a lump-sum payout if you cancel you United Home Life whole life policy.
United Home Life offers all of its whole life insurance options without the hassle of a medical exam like its term life insurance options.
United Home Life offers a higher death benefit whole life option for people in all stages of life and multiple United Home Life burial insurance or final expense options to its clients.
If you are in relatively good health, you can qualify for first-day coverage with no waiting period on the death benefit. United Home Life has a guaranteed issue life insurance policy.
United Home Life’s guaranteed issue whole life policy cannot turn you down due to health, your premiums will never increase, and your coverage is guaranteed for life!
Guaranteed issue whole life insurance has a modified death benefit with a waiting period of 24 months before the full death benefit will be paid for medically-related deaths.
If you die within the first 24 months of the United Home Life guaranteed issue whole life policy, UHL will refund all premiums paid plus interest so you’ll never lose money.
If you die of accidental death during any point in the United Home Life guaranteed issue life insurance policy, the full death benefit will pay.
While guaranteed acceptance is great if your health disqualifies you from immediate coverage, there are other life insurance companies like AIG Life that are much more competitive.
United Home Life Accidental Death Insurance
Accidents are one of the leading causes of death in the United States, especially for people under the age of 50.
If you commute to work, travel for business, or have teenage drivers, a United Home Life accidental death plan can be an inexpensive supplement to your existing life insurance plan.
Additionally, if you work a hazardous occupation, such as a fireman, accidental death could be an affordable solution to protect you on the job.
Since accidental death insurance only pays a claim due to accidents, there are no health questions or medical exam required to get covered.
United Home Life has a unique accidental death policy that is actually built upon a small whole life policy. The accidental death benefit is guaranteed to double over the first 20 years.
Your accidental death coverage is guaranteed renewable as long as your premiums are paid on time. Your policy builds cash value, which equals 20 annual premiums paid.
If you decide to keep your coverage past 20 years, your premiums will begin to increase. Otherwise, there is a return-of-premium option (ROP) available, and your coverage terminates.
While the United Home Life accidental death insurance policy is technically built on a whole life insurance policy, the death benefit is very small (between $125-$250).
United Home Life insurance for Diabetics
If you’re an insulin-dependent diabetic, then you understand what a struggle it is to find affordable life insurance coverage with an immediate death benefit.
United Home Life specializes in providing affordable life insurance with an immediate death benefit to insulin-dependent diabetics who qualify.
United Home Life offers both a 20-year term life insurance and whole life insurance policy for insulin-dependent diabetics with an immediate death benefit up to $50,000.
Just like UHL’s other term or whole life policies, your premiums are guaranteed never to go up for the duration of coverage that you selected, and there is no medical exam required.
Even if you were declined in the past by another carrier, United Home Life may still consider you if you qualify for their special diabetic life insurance policies.
However, there are other burial insurance companies like Royal Neighbors Life that will accept insulin-dependent diabetics with affordable rates that are worth a second look.
Final Thoughts: United Home Life Pros and Cons
United Home Life is a life insurance company with an excellent track record of paying its claims and a strong financial strength.
United Home Life’s number one selling point is that all of its life insurance products waive the medical exam and medical records in order to qualify.
United Home Life issues its life insurance policies quickly within 24-48 hours and with little hassle to the client compared to a 6-8 week fully-underwritten process with a medical exam.
However, this ease of purchase comes at a cost. United Home Life does not have a reputation as being the rock-bottom lowest price when it comes to monthly premiums.
Nowadays, with so many A-rated no-exam life insurance companies, like Sagicor Life, driving no-exam rates even lower, it can be difficult to justify paying the premiums of UHL.
Even United Home Life insurance for diabetics, while a niche of UHL, is not always competitive compared to the best life insurance companies on the market today.
Additionally, your choices with United Home Life are limited. There is no universal life insurance option. Also, your term lengths and death benefit amounts are limited compared to the industry.
Thank you for reading our United Home Life Insurance Review. Please contact us with any questions.
FILED UNDER – INSURANCE COMPANY REVIEWS
Resources: United Home