United Home Life Insurance Company Review

Our take on United Home Life

United Home Life Insurance Company has been operating for nearly a century, having started in 1937 as United Farm Family Life. Both companies remain in business today, with United Home Life providing life insurance to their customers. The company is based in Indianapolis, Indiana, and both companies have over $2 billion in assets, with more than $20 billion in life insurance policies currently in force.
Some of their policies are specifically marketed toward diabetics, a group that has historically struggled to find coverage options.
Admittedly, United isn’t the most affordable life insurance company, but their simple issue coverage offers a great value to those struggling to find acceptance through other companies. If you’re a diabetic or have other manageable health issues, we recommend their simple issue products.

United Home Life Insurance Products

Simple Term

United offers basic term life insurance products in 20 and 30-year increments. Coverage ranges from $25,000 to $200,000, though the maximum benefit depends on the policyholder’s age at the time of application:

• Ages 20-45: Max death benefit of $200,000
• Ages 46-55: Max death benefit of $150,000
• Ages 56-60: Max death benefit of $100,000

This is less flexible than other companies that offer term coverage starting as low as 10 years, and with higher death benefits. However, the simple term products do offer some additional features.

Level Premiums with Renewal Options

With level term life insurance policies, premiums stay level for the duration of the initial term. After the term expires, customers have the option to renew their policy on an annual basis.

Living Benefits

All of United’s term living benefits life insurance policies come with an accelerated death benefit, which entitles you to a portion of the death benefit in the event of a qualifying illness.

Simple Term 20 ROP

United offers a 20-year term life policy that includes a return-of-premium rider. The policy accumulates cash value, which may then be returned to you after the policy expires. Like the Simple Term 20 plan, this policy also includes living benefits, level premiums, and the option to renew. However, applicants 55 and under have a minimum death benefit of $50,000.

Simple Term 20 DLX

United’s “DLX” products offer insurance to insulin-dependent diabetics. The Simple Term 20 DLX product provides a 20-year term life insurance for diabetics. Details on the policy are limited, but given that the other DLX whole life insurance products offer a limited death benefit, it’s reasonable to expect that this product offers reduced benefits as well.

Guaranteed Issue Whole Life

United’s guaranteed issue life insurance policy is limited to those between the ages of 45-75, but can provide no-hassle coverage without a medical exam or even any health questions.

Low Death Benefit

The death benefit offered by this final expense life insurance product ranges from $5,000 to $10,000. Even for a guaranteed issue policy, this is low.

Graded Benefits

This policy offers graded benefits for the first three years, meaning that death benefits will not be paid if the policyholder dies of natural causes. Instead, the beneficiaries will receive a refund of premiums plus interest.

Express Issue Whole Life (EIWL)

This is a simplified issue whole life insurance plan available to applicants between the ages of 25 and 80. Coverage amounts range from $2,000 to $25,000.

No Medical Exam

This is a no medical exam life insurance policy, though a few health questions may be required.

2-Year Graded Benefits

This policy offers two years of graded benefits. If you die of natural causes during this time, your beneficiaries receive a refund of your premiums plus interest.

Express Issue Premiere

This whole life insurance product offers benefits ranging from $5,000 to $100,000, though the benefit is reduced to $50,000 to applicants age 61 and over. However, this product is available to applicants as young as 20.
This policy may be ideal for those with minor health issues, such as type-2 diabetes or well-managed blood pressure issues. No medical exam is required, but a few health questions may be asked prior to approval.

Express Issue Deluxe

This instant issue life insurance product is essentially identical to the Express Issue Premiere, though the DLX products are designed for insulin-dependent diabetics. The death benefit of this policy is capped at $50,000.

Ready to shop for life insurance? Start here

Policy benefits

Accidental Death Benefits

United offers an accidental death benefit life insurance policy in the form of Protector AD. This is not a separate product, but is intended as a unique add-on to your existing whole life policy. Accidental death coverage is typically very narrow, but the Protector AD product has some admitted advantages.

Double the Benefit

The death benefit of this product is guaranteed to double over the first 20 years.

Flexible Options

Policyholders can choose from three levels of coverage:

*These monthly premiums are reference amounts for review purposes. Please contact an agent for additional detail.

Level Premiums

Monthly premiums stay locked in for the first 20 years.

Renewable Coverage

As long as you remain current with monthly premiums, you have the option of renewing your coverage.

Return of Premium Option

With this return of premium life insurance policy, after 20 years, you have the option of having your premiums returned to you through your policy’s accumulated cash value.

Limited Coverage

Like other accidental death life insurance plans, this policy only goes into effect in the event that the policyholder dies as the result of a qualifying accident. The Protector AD product may best be suited for those with a high-risk occupation, or those with dangerous hobbies (e.g., hang-gliding).

Riders

United offers several riders that can be used to modify your existing plan.

Accelerated Death Benefit

Most of United’s policies include an accelerated death benefit at no additional cost. If you are diagnosed with a qualifying illness, you are entitled to a portion of your death benefit to pay for medical and other expenses.

Identity Theft Waiver of Premium

If you’ve been the victim of identity theft, United agrees to waive your monthly premiums until the situation has been resolved.

Hospital Stay Waiver of Premium

With this rider, you won’t be responsible for your monthly premium if you’ve been confined to a hospital.

Child Rider

This children’s life insurance rider allows you to add children to your policy for limited coverage amounts.

Guaranteed Insurability Benefit

This rider allows the policyholder to purchase additional insurance coverage without going through another underwriting procedure.

Cost

United offers no online quoting options, so exact rates are available only through an agent. Independent reviews have suggested that a healthy man looking for $20,000 of whole life coverage can expect to pay nearly $60 per month at age 50, and $150 per month by age 70. By age 80, that same man is paying well over $250 per month. With policies capped at $100,000, this is a remarkably poor value.

High Rates for Basic Offerings

Healthy applicants looking for basic term or whole life coverage will find better options elsewhere, and with higher levels of coverage.

Good for Diabetics

These policies are ideal, however, for those who struggle to get coverage elsewhere. If you are an insulin-dependent diabetic, for example, United’s policies may be an attractive option for

Performance

United Home Life has solid financial ratings from independent agencies:

• A.M. Best, United Home Life: A-
• BBB: A-