Getting life insurance is probably one of the most important purchases you can make after buying your home or vehicle and that’s why it shouldn’t be taken lightly. As a modern consumer, you like to do research before you make a commitment to a company and you happen to hear about United Home Life which landed you here. Well, I have some great news for you, here at InsureChance we a premier source for unbiased information and ability to compare rates with over 60 top rated companies instantly. When reviewing a life insurance company you must check their history, financials, products, rates and of course customer reviews. Luckily for you, we have done that on your behalf so let’s see what this company is all about.
*In summary, United Home Life is a reputable company and their products may work for people in certain conditions but overall there are many other companies who have more competitive rates. Click here for no exam term and here for final expense
About UHL
This company like many others has been around for quite some time and was started back in 1937. United Home Life is located in Indianapolis, Indiana but offers their life insurance options in many states. As far as their financials the company has an “A-” rating from A.M. Best, which is a rating agency. This rating is considered good and is a sign that the company has enough money to pay claims or survivor an economic downturn, to be exact they have about $2 billion in assets.
Since they are one of the companies we represent we can tell you what their market niche is. United Home Life specialized in simplified issue life insurance plans which means that you won’t be required to go through an exam or long underwriting. If you apply for their plans you’ll simply have to answer a series of questions with more or less depending on the exact plan.
United Home Life is also accredited by the Better Business Bureau and currently got an “A+” grade from them as well. We took the liberty to review their profile and they have less than 10 negative reviews which the company has addressed. Overall, it seems like the company has pretty happy clients. Now, that doesn’t mean they are the right choice for so keep reading.
United Home Life Insurance Products
As mentioned before this company specializes in no medical life insurance plans along with a variety of final expense and accidental death plans.
Express Issue Term Life Insurance
Is a term life insurance plan that you can lock in for 20 or 30 years with an option of Return of Premium as well. This coverage has fixed premiums for the duration of the term and at the end of the term, the coverage renews annually until age 95. Please keep in mind that the rates will go up every year thereafter. You can secure up to $150,000 of life insurance without a medical exam as long as you’re in okay health. An ideal plan for the busy individual who needs a policy hassle-free to protect their loved ones.
Express Issue Whole Life (Level, Graded, and Guaranteed Issue)
A whole life insurance is a policy that provides guaranteed premiums, death benefit, and cash value growth. It is a popular life insurance policy that covers you until the age of 100 and is popular amongst people over age 50. United Home Life has 3 different types of whole life which are based on how fast the coverage kicks in and what type of health you have.
Level
This is for people who can answer all 3 sections no on the application and are overall in okay health with minor health conditions. The level plan starts immediately from day one you’re covered and the premiums are the most affordable out all 3 whole life options. You can get up to $100,00 of simplified whole life coverage and up to $50,000 for people over age 60.
Graded
If you can only answer 2 out of 3 health questions sections you’ll fall into this category which means that your health is not good but not critical. A lot of people with conditions that would be considered uninsurable by others can qualify for this plan. Of course, you can only get up to $25,000 of coverage and the coverage doesn’t start right away but rather goes into effect after 2 years.
Guaranteed Issue
If you are in really bad health and can’t answer any of the questions this will be the last option for you. A guaranteed issue plan is no questions asked and no exam. However, it is more expensive, limited to 10k and does have a 2 year waiting period before there is a payout.
What do we think?
Overall, United Home Life is a great company and they definitely have a strong niche in simplified issue and final expense plans. If you already have a policy with them you have nothing to worry about since the company is reputable. However, we have a ton of options that may be more cost-effective and benefit rich for you as a consumer. To put it simply out of all the companies we represent we rarely sell life insurance plans from this company unless it is for a specific situation like type 1 diabetic who has been turned down by everyone. There are better options for you out there so be sure to shop around to make sure you’re getting the best deal.
Work with Us!
Whichever route you decide to go it is crucial to check rates with all top rated companies and here at InsureChance, we made it easy for you by letting you use our comparison tools to see rates instantly. This puts the power of shopping in your hands and makes the life insurance companies compete for your business. In addition to providing actual quotes for different plans, we provide lifetime support to our clients along with unparallel knowledge and experience. If you’d like to see what may be available to you simply pick the plan type from the life insurance tab and fill out the necessary information to see quotes on the next page. If you prefer to work with a professional call us at 888.492.1967!
