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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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.
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.
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.
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