United Life Insurance Review [2024]

Life insurance is among the top types of insurance that are most important for people to have.

United Life insurance offers four different products for their customers to choose from, including annuities. Annuities will help you reach various financial goals.

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What You Should Know About United Life Insurance Company

United Life insurance company’s rating is an A- (Excellent) by A.M. Best. This rating is an indicator that the company offers reliable financial banking.

Typically, J.D. Power’s customer satisfaction rates companies on their level of customer service each year. With them rating large companies, United Life was not in the study for the past year.

Contact United Life

United Life Insurance Company has a few different ways that their customers can connect with them.

Main Phone: 800-637-6318

Claims Phone: 866-281-1921

Mailing Address: P.O. Box 728 Cedar Rapids, IA 52406

Email: https://www.unitedlife.com/contactus

Find a United Life insurance agent near you. Enter your ZIP code and get a free quote today.

United Life Insurance Company Insurance Coverage Options

United Life Insurance Company is licensed in most states coast to coast with independent agencies. These independent agencies include representatives of financial institutions and advisors through broker-dealer groups.

This insurance company offers insurance plans that allow you to receive up to $100,000 in coverage. The products offered by United Life include whole life, term life, universal, and annuities.

Whole life insurance policies offered by United Life can range anywhere between $5,000 and $100,000. They are available in single-premium or limited-pay formats. Policies are available for customers between the ages of 0 and 90.

Whole life insurance policies include a living benefit rider and a return of premium rider. The return of premium benefit is based on the year of your natural death. (For more information, read our “Understanding Return of Premium Life Insurance“).

• Year 1: Return of premium plus 4.5% interest
• Year 2: 50% of the ultimate death benefit
• Year 3: 100% of the ultimate death benefit

United Life also offers term life insurance, a limited insurance policy. When the policy’s term expires, you will have the option to renew, terminate, or convert your policy to a permanent policy.

Their term life insurance policies include a guaranteed death benefit if the policyholder dies when the policy is active.

Universal life insurance is a permanent life insurance policy like whole life, the only difference is that universal life insurance builds cash value. The premiums you pay can have partial investment value, building worth over time. On top of that, there is a death benefit that your beneficiaries can claim after your death.

United Life’s Available Riders

There are several different riders that are offered by United Life. This will allow you to customize your insurance policy so that it works best for you and your family.

Accidental Death Benefit Rider: In the event of accidental death, United Life will pay 100% of the ultimate death benefit from the policy’s effective date.

Children’s Insurance Rider: In the event of your child passing away while the policy is active, this rider will offer a death benefit.

Cost of Living Rider: This will help to ensure that any premiums paid are adjusted to reflect inflation when it’s time for payout.

Disability Premium Payment Rider/DWC: This will ensure that your premiums are waived during the period of disability. This rider is available for those between the ages of 18 and 60, expiring at age 65.

Guaranteed Insurance Option: You have the ability to choose up to five guaranteed insurance options, expiring at the age of 85.

Juvenile Guaranteed Insurability: United Life automatically issues this rider to policyholders between the ages of 0 and 15, sometimes through the age of 25. When this benefit expires, the insured can choose to apply for permanent insurance coverage. Additional permanent insurance coverage may amount up to 10 times your current death benefit $100,000 total.

Living Benefits Rider: This option is for non-rated cases between $25,000 and $500,000. It offers the accelerated death benefit should the policyholder become terminally or chronically ill. It is automatically included with a minimum $50,000 death benefit. (For more information, read our “What is an accelerated death benefit rider?“).

Qualified Care Accelerated Death Benefit Rider: This rider holds a minimum $50,000 face amount with a $300,000 maximum rider benefit. If you are deemed disabled, you may receive a partial payment from the policy’s death benefit when you are receiving long-term care in a nursing home, assisted living facility, or at home.

Return of Premium (ROP): If you are at least 41-years-old and hold a policy of at least $25,000 in coverage, then this rider is for you. After the second policy anniversary, you will be able to access your policy’s cash surrender value.

Scheduled Increase Option Rider: You will be able to increase the amount of coverage that you have as your income increases.

Spouse Insurance Rider/Other Insured: This rider provides life insurance coverage for your spouse or dependent under your policy’s coverage.

Term Rider: With this rider, you will be able to add additional term coverage for your policy when you need extra short-term coverage.

United Life requires its customers to purchase insurance policies through partner agents and financial institutions. Customers can find an agent through their United Life insurance login. Agents can also access the login using their password and Agent ID.

For most policies that are under $100,000 in coverage, a medical exam will not be required. If you want to take a loan against your life insurance policy, loans carry an interest of 8%. There are also incentives offered for non-smokers with additional wellness benefits.

United Life Insurance Company Insurance Rates Breakdown

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