When you’re in the market for a final expenses or burial life insurance policy, what factors do you consider when choosing a life insurance company? Perhaps affordability is your primary concern, or maybe you place more emphasis on their track record.
At IBUSA, we understand that what you really want is a life insurance policy that will give your loved ones peace of mind in the unfortunate event of your passing.
United Heritage Insurance is one life insurance company that many people consider for final expense plans. But is United Heritage a good life insurance company? Should you buy a life insurance policy from them? These are critical questions, and IBUSA is here to help you answer them.
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About United Heritage Insurance
United Heritage has a long history that dates back to 1934 when it was first established as Grange Mutual Life Company. It remained under that name until 1991, when it rebranded as United Heritage Mutual Life Insurance.
Today, United Heritage offers a wide range of insurance products to meet diverse needs. Their subsidiary, United Heritage Life Insurance Company, is exclusively dedicated to life insurance solutions. Operating in 38 states across the country, United Heritage has a significant presence in the insurance market.
Financial Strength
Third party rating organizations help insurance seekers to get an idea as to the overall financial health of an insurance company.
There are some really reliable ratings companies out there: AM Best, Fitch and Standard & Poor’s. However, we could only find United Heritage ratings with AM Best.
AM Best gave United Heritage an B++. This is a pretty good life insurance rating, although we typically prefer an A- rating or higher.
Another rating to consider is the BBB to get an idea of how consumers feel about United Heritage. As of May 2020, United Heritage has an A+ rating with the BBB.
Pre-Need Funeral Planning
Death is an inevitable fact of life that we all must face. So why not be proactive about planning your funeral?
It may surprise you to know that many people plan every aspect of their funeral and burial long before they become ill. With United Heritage Funeral Planning, you can do the same.
Benefits of Pre-Need Funeral Planning
When you choose Pre-Need Funeral Planning with United Heritage you take the guesswork out of things. Say you are going to die in 20 years—how are you to know the cost of funeral then? Inflation changes a lot of things, but instead of guesswork, pre-need funeral planning helps you be assured that you will have enough money to pay for your funeral—no matter when it happens.
United Heritage E Series Plan
Single Premium
Pay for your entire funeral long before it ever occurs to lock in the best deals. Not only will you be sure to keep your funeral prices low, by pre-planning and pre-paying for your funeral, you make life easier for your loved ones in such a traumatic time. They won’t have to worry about a thing except for grieving. No medical questions asked.
Full Benefit
Want to make multiple payments? You can plan a payment schedule that works over 3, 5 or 10 years. This policy requires you to answer a few medical questions in order to qualify. If you have severe medical issues, then this policy will not be a great option for you.
Graded Benefit
This is a policy that is only available in certain states. Another no-medical questions asked policy, this is a good alternative for someone who may not qualify for Full Benefit.
United Heritage Final Expense
These are three simplified issue and guaranteed issue policies designed only to take care of your final expenses so that your loved ones won’t become financially at risk after your death.
Protector Whole Life
This is a whole life final expense life insurance policy. It’s issued to people 0-85 years old and has a face value of $1000-$35000. No medical exams required.
Protector Graded Benefit
Graded for the first two years, graded benefit is a good option. Again, no medical exams or tests required. The death benefits under this policy are valid until 121 years of age. Protector Graded Benefit is issued for people 40-85 years of age. The face amount is $1000-$25000.
- First year: Death benefit is 30% of face amount
- Second year: Death benefit is 70% of face amount
- Third year: Death benefit is 100% of face amount
Protector Modified Benefit
During the first two years, the death benefit is modified. Under this policy, if you die in the first two years that you have protector modified benefit, then your beneficiaries will receive 100% of what you’ve paid into the policy + 5% interest.
If you think about it, this is better than what you will get if that money sits in the bank for that time. While it won’t be the whole death benefit, your beneficiaries will still come out ahead—even if you die during the first two years. Issued from 40-85 years old. Face amount is $1000-$15000.
Is United Heritage the best life insurance company for a final expense policy?
There is no doubt that United Heritage is an excellent life insurance company, especially if you’re looking for a policy that covers your final expenses, such as burial or cremation and funeral costs. With a range of products to choose from, you’re likely to be satisfied with United Heritage as your life insurance provider.
However, you asked whether United Heritage is the “best.” The word “best” is subjective, and what’s best for you may not be the same for someone else. The same holds true for life insurance companies offering final expense policies. United Heritage may be the best choice for some, but it may not necessarily be the best for you.
The only way to find out is to contact United Heritage and request a quote. But don’t stop there. Obtaining a quote will only tell you if United Heritage is “good,” but not if they are the “best” for you. To determine if they are the best option, you need to compare their offerings with those of other companies.
How can I compare United Heritage to other life insurance companies?
If you’re unsure about which life insurance company to choose for a final expense policy, we recommend that you contact IBUSA. We can assist you in determining what dozens of the top life insurance companies in the United States have to offer.
Based on your unique needs and preferences, we will provide a tailored recommendation that best suits your requirements. You can then compare our recommendations with what United Heritage has proposed, and review the figures to decide which life insurance company is the best fit for you.
