United Life Insurance at a Glance: Rates, Products and Reviews

Founded in 1962 and based in Cedar Rapids, Iowa, United Life Insurance Company offers a range of annuity products alongside its life insurance policies. As reported by the NAIC, it is a smaller player in the industry with just 0.036% market share and over $903 million in annual premiums. It does not operate in Alaska, Hawaii, New York, Maine or Vermont.

United Life offers various types of annuities designed to meet diverse financial needs, including multi-year guaranteed annuities (MYGAs), index annuities and single premium income annuities (SPIAs).

United Life offers MYGAs as single premium deferred annuities (SPDAs). They are available in two forms: Access and Performance.

United Life offers the WealthChoice Index Annuity that uses a choice of three indexes: S&P 500, Barclays Global Quality Index and Horizon Ascend 5%™ Index. There are surrender periods available for five, seven or ten years with six allocation options.

United Life also offers a SPIA. This is a highly personalized product that is based on your age and date of issue. Your payout option can also affect your contract.

For more information on income annuities, discuss options in your state with a financial advisor or insurance agent who can provide detailed quotes.

United Life annuities offer a range of valuable features and benefits within their contracts. For example, their single-premium deferred annuities include a waiver of surrender charges if the annuitant is terminally ill or confined to a nursing home. Additionally, a guaranteed living benefit rider is available, allowing for penalty-free withdrawals throughout the life of the contract.

The specific features and benefits available will depend on the type of annuity selected.

Information about United Life’s annuity products is limited online, making it challenging for potential buyers to assess options independently. The lack of publicly available details may leave questions regarding rates, fees, and specific product features unanswered. To thoroughly understand United Life’s annuities and evaluate how they align with personal financial goals, interested individuals are encouraged to consult a licensed financial advisor or contact United Life directly. Independent third-party advisors can provide comprehensive guidance, helping clients make informed decisions based on a clearer picture of United Life’s offerings.

United Life Insurance Company accounts for 0.002% of market complaints based on a single complaint reported to the NAIC. Although it is not accredited by the Better Business Bureau (BBB), it receives an A+ rating. This is despite its customer review rating of 1 out of 5 based on two customer reviews.

It does not appear in J.D. Power’s 2024 U.S. Individual Life Insurance Study or its 2024 U.S. Individual Annuity Study.

For financial strength, United Life receives an A- (Excellent) rating from AM Best.

United Life Insurance Company is a smaller player in the annuity market, but it offers a strong selection of products. While its annuity options are limited, they are comprehensive and customizable to meet your specific needs. Additionally, United Life provides retirement planning services and life insurance coverage.

Coupled with its high customer satisfaction ratings and excellent financial strength, United Life proves itself a trustworthy company that prioritizes its customers and provides a reliable product.

Ask a financial advisor for further details about the United Life annuities available to you from United Life Insurance Company.

Editor Norah Layne contributed to this article.