United Home Life Insurance Company Review

••• Getty Images/Erin Lester

United Home Life Insurance Company began in 1937 as United Farm Family Life. In the beginning, United Home Life got its start as a mutual insurance company insuring the homes and property of farmers. Today, United Farm Life is the parent company of United Home Life Insurance Company. Combined, both companies have over $2 billion in assets with more than $20 billion of life insurance policies in force. The company’s headquarters is located in Indianapolis, Indiana.

United Home Life's company motto is "life insurance made simple." It is one of the few companies that offer customers life insurance policies with no physical examination necessary. This is what a “guaranteed issue” policy means, no exam required for coverage. Not only are term life policies issued without a required exam, but also permanent life insurance policies. In addition to no physical examination require, United Home Life insurance policies also offer an immediate death benefit with the whole life insurance policy options. With the graded whole life option and the guaranteed issue whole life option, immediate payout is not available but rather has a three-year waiting period.

Financial Stability Ratings

A financial stability rating is much like your insurance company’s report card. A company with proven financial strength ratings will be able to perform well consistently and produce a profit while still being financially able to pay all claims presented by policyholders. United Home Life has received an “A-” Excellent rating with insurance rating organization A.M. Best while the parent company, United Farm Family Life, has an “A+” Excellent A.M. Best rating.

Better Business Bureau Rating

United Home Life Insurance Company has a “A-“rating with the Better Business Bureau. An “A-“ rating means the majority of complaints were resolved to the customer’s satisfaction. The BBB file for United Home Life was opened in 2006. The company's composite score is a 3.68 out of 5-star rating. There are only three negative reviews and one customer complaint listed which is a relatively low number for such a large organization.

Life Insurance 

Life insurance products available through United Home Life Insurance include term life and universal life insurance or whole life insurance policies. Accidental death coverage is also available. Here is an overview of the insurance products available through United Home Life:

  • Express Issue Term Life Insurance: The Express Issue Term Life Insurance Policy is available in values up to $150,000. No physical exam is necessary to purchase this coverage. Term life insurance is temporary insurance for a specific time period generally offered in terms of years.
  • Express Issue Whole Life Insurance (Graded Benefit): A policy for customers ages 25-80 with benefits from $2,000 to $25,000. The graded benefit is as follows: the 2-year benefit: one year return of premium with 12% interest; two-year return of premium with 24% interest. Full death benefit is paid for an accidental death. For policies for $10,000 or greater, you can purchase additional coverage through the accidental death benefit rider, identity theft waiver or premium rider and the hospital stay waiver of premium rider.
  • Express Issue Whole Life Insurance (Simplified Issue):  This policy is issued to customers aged 20-80 for$5,000-$100,000 (Ages 61-80 up to $50,000). Additional riders are available to increase coverage including the accidental death benefit, terminal illness accelerated rider, and the child rider.·       
  • Accidental Death Benefit Coverage: The accidental death benefit coverage from United Home Life is called “Protector AD” and is a relatively inexpensive coverage to add on to an existing policy. Premiums are level and guaranteed for 20 years. There is also a return-of-premium benefit which refunds annual premiums paid at the end of the 20-year period when coverage terminates.

From the company website, policyholders can access supplemental policy forms including claims forms and policyholder service forms. You can also access an Electronic Funds Transfer (EFT) to make your policy payments electronically through automatic withdrawals from your checking or savings account

The Bottom Line

United Home Life Insurance Company specializes in “no-exam” life insurance. If for whatever reason, you want to avoid a medical examination to purchase the life insurance you need, this company is worth checking out when shopping for the best value on an insurance policy. United Home Life offers a good variety of life insurance options and has excellent financial strength as reported by A.M. Best insurance rating organization. The BBB also gives United Home Life an “A-“ rating, meaning that very few complaints were reported and the company made a good faith effort to resolve any complaints from customers.

Contact Information

You can visit the United Home Life Insurance Company website or call 800-428-3001 to learn more about insurance products or to receive an insurance quote.