United Life Insurance Review (2022)
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Licensed Insurance Agent
Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
Travis Thompson
Senior Director of Content
Sara Routhier, Senior Director of Content, has professional experience as an educator, SEO specialist, and content marketer. She has over 10 years of experience in the insurance industry. As a researcher, data nerd, writer, and editor, she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world of insurance....
Sara Routhier
Senior Director of Content
Sara Routhier, Senior Director of Content, has professional experience as an educator, SEO specialist, and content marketer. She has over 10 years of experience in the insurance industry. As a researcher, data nerd, writer, and editor, she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world of insurance....
Sara Routhier
Updated March 2022
- United Life Insurance offers term life, whole life, and universal life insurance
- United Life Insurance has several riders to customize a policy
- United Life Insurance has been rated A- by A.M. Best
United Life Insurance provides term life, universal life, and whole life insurance to customers in 37 states. Customers can include several riders to customize their policy, and some plans don’t require a medical exam. Additionally, the company has been rated A- by A.M. Best.
Now, let’s take a closer look at United Life Insurance.
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What are the United Life Insurance monthly rates?
Insurance companies base the cost of coverage on an applicant’s risk. For example, life insurance companies determine the likelihood that a customer will pass away early, with riskier people experiencing higher rates.
United Life Insurance doesn’t disclose its rates online. However, reviewing the average industry prices will help you determine if the company is competitive when you receive a quote. The following chart reveals the average rates for a 20-year term based on gender, coverage value, and the applicant’s age.
United Life Insurance Average Male Monthly Rates Based on Coverage Value and Age
| Age | Average Rates for a $250,000 Policy | Average Rates for a $500,000 Policy | Average Rates for a $1 Million Policy |
|---|---|---|---|
| 30 | $21 | $33 | $58 |
| 40 | $30 | $50 | $93 |
| 50 | $67 | $118 | $226 |
Now, let’s examine the same information for females.
United Life Insurance Average Male Monthly Rates Based on Coverage Value and Age
| Age | Average Rates for a $250,000 Policy | Average Rates for a $500,000 Policy | Average Rates for a $1 Million Policy |
|---|---|---|---|
| 30 | $18 | $28 | $49 |
| 40 | $25 | $41 | $76 |
| 50 | $52 | $92 | $173 |
As you can see, rates increase with the value and as the policyholder ages. Additionally, rates are higher for females than for males.
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What coverages are offered by United Life Insurance?
United Life Insurance offers term life, whole life, and universal life insurance. The company doesn’t provide many options with each type of insurance but does offer a wide range of coverage values.
United Life’s term life insurance is available in 10- to 30-year terms with values ranging from $100,000 to $1 million. There is no age limit on this type of coverage, but older customers will experience higher rates and might have limited options.
The company’s whole life plan is available in a single-premium or limited pay format. The value for this plan ranges from $5,000 to $3 million and is available for customers up to 90 years old. However, customers between 86 and 90 are limited to a maximum of $100,000 in coverage.
A unique characteristic of the whole life plan is the basic option, which features simplified underwriting. As a result, customers can obtain coverage without a medical exam. This option is favorable for those with existing medical conditions that might make finding coverage more challenging.
United Life’s universal life insurance policy features a cash value that customers can invest and grow over time. The policy has flexible rates, and coverage ranges from $50,000 to $3 million for most customers, depending on the state in which you reside.
Does United Life Insurance offer any riders?
Most life insurance companies provide options that customers can add to a policy. These options are called riders and allow for the customization of coverage. As an example, the following table reveals the various riders offered by United Life Insurance.
United Life Insurance Riders
| Rider | Rider Coverage |
|---|---|
| Accidental death benefit | Pays 100% of the death benefit in the event of an accidental death. |
| Children’s insurance | Provides a death benefit if your child passes away while the policy is active. |
| Cost of living | Ensures that all payments are adjusted to reflect inflation. |
| Disability income | Provides financial support for medical care if the insured has a disability. |
| Disability premium payout | Waives payments if the insured has a total disability. |
| Guaranteed insurance | Allows the insured to choose up to five guaranteed insurance options. |
| Juvenile guaranteed insurability | Guarantees coverage for a juvenile up to 15 years, and sometimes up to 25 years of age. |
| Living benefit | Provides access to a portion of the death benefit early if the insured has a chronic, critical, or terminal illness. |
| Qualified care accelerated death benefit | Insured can receive a partial payment for long-term care. |
| Return of premium | Provides access to a policy's cash surrender value on or after the second anniversary. |
| Scheduled increase option | Allows the insured to increase coverage as their income increases. |
| Other insured | Provides coverage for a spouse or dependent under your policy’s coverage. |
| Term rider | Provides additional term life coverage when the insured needs extra short-term coverage. |
United Life Insurance offers more riders than most competitors. As a result, United Life policyholders can create a policy that meets their needs. Enter your zip code below to view companies that have cheap life insurance rates.
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How is United Life Insurance rated?
Reviewing the United Life Insurance Company ratings allows customers to determine the company’s likelihood of providing a payout when customers file a claim. Additionally, the Better Business Bureau (BBB) rates companies based on their business practices.
United Life Insurance has been rated A- by A.M. Best, the most trusted credit rating agency. This rating is excellent and determines that United Life will provide a payout in most situations.
The BBB has rated United Life Insurance an A+, the highest rating provided by the BBB. This rating indicates that United Life is transparent and trustworthy when dealing with customers.
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Does United Life Insurance have any complaints?
The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about insurance companies. Examining these evaluations allows customers to determine a company’s quality of service.
At the time of this review, the BBB has received 57 complaints about United Life Insurance during the past three years. Of those 57 grievances, 29 have been acquired in the last 12 months. Additionally, the BBB has received 46 reviews about United Life with an average of 1.04 out of five stars.
According to the NAIC, United Life has received one complaint and has a complaint index ratio of 0.12. These numbers indicate that United Life Insurance has far fewer complaints than the average company of a similar size.
How can you report United Life Insurance claims?
United Life allows customers to file claims online or by phone. While the company encourages customers to phone the company to file a claim, they also enable customers to file claims by filling out an online claims form.
Those that prefer to file online can do so via a link on the claims page of the company website. When filling out the form, you should include as much information as possible. After submission, the company might need to contact you for further details.
Additionally, customers can file claims by calling the United Life Insurance phone number at 800-637-6318. Representatives can assist customers through the claims process Monday through Friday from 8 a.m. to 4:30 p.m. (CST).
How can you make United Life Insurance payments?
United Life allows customers to make payments by electronic funds transfer (EFT), via mail, and online. The best option depends on your personal preference, but most customers pay their bills through the company website.
Online payments are possible through the payment section on the company’s website. Entering your account or policy number and zip code serves as your United Life Insurance login.
The EFT option allows customers to transfer funds monthly or quarterly from their checking or savings account. This payment type ensures that you don’t have to remember to make payments as the payment will be transmitted on the due date.
Those that prefer to pay by check or money order can do so via mail. Customers must include a remittance slip and send it to the following address:
United Life Insurance Company
P.O. Box 729
Cedar Rapids, Iowa, 52406-0729
If customers have any further questions about payment options, they can call 800-637-6318. Representatives can answer any payment questions Monday through Friday from 8 a.m. to 4:30 p.m (CST).
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How can you cancel a United Life Insurance policy?
United Life Insurance offers a 10-day free look period when a policy begins. Customers can cancel a policy during this time without any penalty, such as a cancellation fee. The free look period is available for all plans, but the duration depends on the state.
You might be wondering, How do I know the free-look period duration for a United Life Insurance company near me? Unfortunately, the company doesn’t provide this information online. Instead, it directs customers to call the customer service number at 800-637-6318 to find out.
Like most insurance companies, United Life only allows customers to cancel a policy over the phone. This requirement was implemented because they want the opportunity to change your mind. Therefore, the only way to cancel a policy is to call the customer service phone number.
What are the pros and cons of United Life Insurance?
Every insurance company has positives and negatives that customers can use to decide if a company is right for them, and United Life is no different. The following table displays the pros and cons of purchasing a United Life Insurance policy.
United Life Insurance Pros and Cons
| United Life Insurance Pros | United Life Insurance Cons |
|---|---|
| Some no medical exam policies | Some policies require additional fees |
| Strong financial ratings | Must purchase through an agent |
| Several riders | Limited information on the website |
This table reveals that United Life is a good option for people with existing medical conditions that could make finding coverage challenging. Additionally, in most situations, the company will provide a payout and allow customers to customize a policy.
Unfortunately, some of the company’s policies require an additional fee, resulting in increased rates. Additionally, United Life has limited information on the website, and customers must purchase a plan from an agent.
Who is United Life Insurance?
The United Life Insurance Company began in 1962 in Cedar Rapids, Iowa. The company remained independent until 2018 when Kuvare Holdings — a larger insurance company from Chicago, Illinois — bought it.
United Life is currently available in 37 states, limiting access. While the company has a similar name to that of American United Life Insurance, the two are different companies.
United Life Insurance: The Bottom Line
United Life Insurance offers term and permanent life insurance to customers in 37 states. The company has strong financial ratings and several riders to customize a policy. Learning more will help you determine if United Life Insurance is right for you.
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