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About United American
United American was founded as a one-man operation in 1947, with offices in Dallas, Texas, and by 1976 had 400 employees. In 1981, Torchmark Corporation, a large holding company that also owns a number of similar insurance companies, acquired United American.
In 1996 United American, having grown again considerably, moved its operations to McKinney Texas, later followed by parent company Torchmark, which now has offices nearby. They are a large national provider of Medicare Supplement insurance, and also offer life and other supplemental health insurance plans to individuals. In the group insurance market, United American writes group retiree health plans.
United American products are sold through independent agents across their service area, which includes all 49 states and the District of Columbia.
United American Products
Since the creation of Medicare, United American has mainly focused on providing Medicare Supplement insurance options. We cover their Medicare offerings in full in our separate Medicare Supplement review.
They also write a variety of other life and supplemental options, which we will look at in this review. The website offers very little information in regards to these plans.
United American offers three types of supplemental health insurance. These are accident, cancer, and critical illness.
The website says that there are two accident policies available, but lists no further details of the coverage.
The Cash Cancer and HealthGuard critical illness plans pay out benefits between $10,000 – $50,000 upon diagnosis of cancer or a qualifying critical illness. These plans appear to be very similar, although the type of illness for which they pay out differs. The cash payout can be used for any purpose the beneficiary chooses.
These guaranteed renewable term life policies offer death benefits ranging from $25,000 up to $500,000. The site does not state whether or not there is a simplified issue option with no medical exam required, but that is something we would expect from this type of insurance company.
Group Retiree Health
United American works with employers to provide customized coverage for retirees. These plans work together with Medicare and offer an affordable option to allow companies to provide some assistance for their retired employees without the cost of keeping them on the regular company health plan.
Plans can be 100% funded by the employer, 50% funded to cost-share with the retirees, or 100% optional.
United American Rates
It is not surprising to see that United American does not offer online quoting. This is the type of company that probably does most of its business through agent solicitation, rather than a company people seek out for rate comparisons.
We would expect the rates to be comparable to other nationwide life and supplemental health insurance companies, but are unable to provide any real concrete comparison.
United American’s website offers a very basic but clear outline of how to file a claim. Instructions are provided for each separate category of policy.
All claims are filed by mail. There is no sign of a phone number, nor is there any evidence of an online option. The website does list all of the required documentation that needs to be sent in with the claim, but does not offer claims forms available for download.
There is a policyholder login area, so it is possible these forms are available there. That’s not useful, however, to a beneficiary filing for a life insurance policy who may not have access to the deceased’s account.
Ratings and Consumer Reviews
United American Insurance Company has an A+ rating with the Better Business Bureau (BBB), which has not changed since we reviewed their Medicare coverage. There are a total of 20 complaints on file in the past three years, which is fairly low. Only two of those complaints were filed in the past 12 months.
Consumer Affairs has 92 complaints on file for this company. Many of the complaints on file cite failure to pay claims. Of the 28 reviewers who left star ratings, most were one-star with a few two-star. The overall number of complaints is not high for a company of this size, but the complaints do cite the same issues repeatedly, which is worth noting.
The Bottom Line
With little information available and no rate quote, it is difficult to recommend United American. They are most likely to become an option for those who seek assistance from an agent or broker, while those who prefer to shop online will want to look at companies with online quoting and more plan information. There is nothing of serious concern in the company’s reputation, however, there is little to firmly recommend them either.
For a list of companies that we recommend, visit our Best Insurance Companies page.