United American Insurance Company History and Background

As you do research on potential Medicare Supplement companies, you invariably encounter large companies like Cigna, Aetna and UnitedHealthCare, but there are other less well-known insurance companies. Just because they don’t have the brand awareness and marketing power of the giant companies doesn’t mean they aren’t high-quality companies you should consider.

United American Insurance Company is one such insurance company.

In this article, we will give you the backstory on United American discussing its financial ratings, customer reviews, and insurance products it sells. If United American is the best fit for you, we want you to be confident in the company’s strengths and ability to deliver upon their promises.

United American company history

C.L. Dunlap of Dallas, Texas, founded United American in 1947. Dunlap was an interesting man who dreamed of helping his fellow American with life, health and accident insurance needs. After graduating from high school, he briefly worked for a property and casualty company in the Dallas area. This experience gave him his first taste of the insurance world and how the business worked. He left the business for the University of Texas at Austin to study law and returned to Dallas as a practicing attorney.

World War II broke out shortly after Dunlap began his law career and changed his trajectory. He was a pilot before the war, so he joined the U.S. Navy where he served as a pilot and instructor in the Pacific theater of the war.

During his time serving in the war, Dunlap saw the financial damage to individuals caused by accidents, healthcare issues and death. It was this experience that prompted him to enter the insurance market full time when he returned to Dallas after the war.

He took his life savings and with the help of friends and relatives and began the company in 1947. During the first year of operation, only three people ran the company: Dunlap, his accountant, W.H. Coleman Jr., and their secretary, Kay Holt.

On United American’s 30th anniversary, when it was much larger with an army of employees, Dunlap reflected on the company’s work and its mission.

For I have found that, although good policies are necessary in the insurance industry, it is really the people involved who make a company. It is you, and those like you, who have made United American what it is today, whether you have been associated with the Company for a matter of days or for many years. And so, the celebration of our 30th anniversary is really a salute to you. Without you, it would not have been possible. To you, on behalf of the many others of us in both the field and the Home Office, I would like to extend a very heartfelt … many thanks.

C.L. Dunlap

Dunlap’s words reflect the heart of the company even today. It continues to be a people-focused insurance business both with customers and employees.

Medicare was created in 1966, which brought a huge shift to the company. Prior to this date, UA had been focused solely on families, but the introduction of Medicare led to a focus on the senior market, and has continued to this day.

In 1982, the insurance company was purchased by the Torchmark Corp. (NYSE: TMK). Torchmark is more commonly known by its marketing name Globe Life, and officially changed the corporate name in 2019.

While United American may be less well-known to you, you have probably heard of Globe Life and have seen its commercials and may have purchased its insurance products.

As of 1996, the company had grown tremendously with over 500 employees. It relocated outside of Dallas to McKinney, Texas. Because most of its employees were at the Texas operation, Globe Life moved its corporate headquarters from Birmingham, AL to McKinney.

Mike Majors has been the president of United American since 2015.

Today, United American is one of the largest providers of Medicare supplements. The company is licensed in 40 states and the District of Columbia. In New York, it operates under the subsidiary, First United American Life Insurance Company.

Throughout its growth, United American has remained committed to a handful of core principles:

  • Stability
  • Service
  • Quality
  • Commitment

These principles inform everything United American does as it meets the insurance needs of clients. At the heart of its decision-making is what is best for the customer.

United American Financial Strength

Financial strength is a benchmark you should consider when looking at any company. It indicates stability, and the ability for a company to innovate and expand.

United American earns consistently high rankings from financial ratings organizations. It has more than $1.6 billion in assets, including $800 million in in-force insurance, supporting over 500,000 policyholders.

The two main rating agencies for insurance companies are AM Best and Standard and Poors. Both look at multiple factors on a company’s balance sheet.

AM Best has rated United American as A+ Superior for more than 40 consecutive years.

Standard and Poors rated United American as AA- which equates to “Very Strong.”

United American Ratings and Reviews

In addition to financial strength, you should consider consumer reviews when choosing an insurance company. One of the first places many go to learn about a company’s customer performance is the Better Business Bureau.

United American has been accredited with the BBB Since 1952. The BBB gives the company an A+ rating. Over the last 3 years, there have only been 8 complaints to the BBB, which is low considering the number of people United American insures.

As an employer, United American scores a 3.3 with the career site Indeed. Here’s what one employee said about the company:

UA is an excellent company. Their continued training is outstanding. All managers are always available to answer questions. There are no territories or restraints. If you like selling Medicare Supplement products this is for you. They have the best rates on the market. I highly recommend them.

5 stars, Current Florida Employee, 2019

If You Need Help

Consumer Affairs gave United American a satisfaction rating of 4.5 out of 5 stars. One reviewer commented:

We’ve been happy with United American. Every time I take my mother somewhere, United American is accepted no matter where it is, and I don’t have to deal with referrals. Anything we’ve been billed, between Medicare and the supplemental, has been fair.

Susan of Fort Worth, Texas

United American Insurance Company Offers Variety of Insurance Coverage

UA’s main business focus is Medicare Supplements. But because of its history in life and health products, the company continues to offer a variety of other insurance products.

Life Insurance:

Whole and Term Life insurance with death benefits ranging from $25,000 to $500,000

Accident & Supplemental Health Insurance:

These are portable health policies designed to provide supplemental coverage to your major medical policies.

Foundation Signature Series:

Ages 0-63 with benefits up to $10,000. Designed to help cover deductibles, copayments, and coinsurance.

HMXC:

Ages 0-63 designed to supplement the costs of long hospital stays from 60-120 days.

Accident Compensation Plan:

Ages 0-63. Will pay up to $10,000 in cost related to accidents and includes an accidental death benefit.

Annuities:

Lifestyle Annuity:

Ages 0-80. This is a deferred investment with guaranteed rate of return of at least 3%. Annual deposit amounts are limited to between $5000 to $20,000.

Reserve Fund Annuity:

Ages 65-90. This product is usually attached to one of their Medicare Supplement plans with a guaranteed 3% rate of return. Funds can be used to help pay Medicare Part A and B deductibles along with Part B excess charges.

Cancer & Critical Illness:

United American sells two basic products: the Cash Benefit Cancer Plan & the HealthGuard critical illness plan. Both offer between $10,000 and $50,000 in coverage. The plans are flexible and the funds can be used to pay medical bills, travel expenses, and replacing lost income.

Group Retiree Health Insurance:

This is a customizable plan that provides supplemental health insurance to retirees through their employees. This is sold as a benefit employers can offer to their retiring employees and spouses.

Where are United American Medicare Supplemental Insurance Plans Available?

United American Medicare Supplement products are distributed through independent agents and brokers licensed in 40 states and the District of Columbia. In the state of New York, United sells policies through First United American Life Insurance Company.

The only Medicare products United American sells is the Medicare Supplement product.

United American offers Medicare Supplement policies for 11 of the 12 standardized plans A, B, C, D, F/HDF, G/HDG, K, L, and N. Plan availability may vary by your state of residence.

All Medicare Standardized plans include the following Basic Benefits:

  • Hospitalization: Part A coinsurance plus coverage for 365 additional days after Medicare benefits end.
  • Medical Expenses: Part B coinsurance (generally 20% of Medicare approved expenses) or copayments for hospital.
  • Outpatient services: Plans K, L, and N require insureds to pay a portion of the Part B coinsurance or copayment.
  • Blood: First 3 pints of blood each year.
  • Hospice: coinsurance for eligible hospice/respite care expenses.

Only applicants first eligible for Medicare Part A before 2020 may purchase Plans C, F, and High Deductible Plan F. If you are new to Medicare, you need to make sure to find coverage during the window around your 65th birthday. You won’t have to go through standard underwriting and are guaranteed coverage during this period.

If you purchased prior to 2020, you have more options to choose and can change plans if you are not satisfied with your insurance coverage or rates with your current company.

Features and Benefits of United American Insurance Company Coverage

As we’ve shown, United American has been offering affordable Medicare supplement insurance for years.

Some of the benefits you can find in United American plans:

  • 30-day free-look policy:  You will be mailed a check within two weeks for a full refund.
  • Guaranteed renewable plans: If you develop medical conditions while covered by United American, you can not be canceled by the company.
  • Every plan is portable: United American covers you nationwide. If you move from one state to another, your policy travels with you.
  • You can use any doctor that participates in Original Medicare: No referrals needed.

United American recently invested in customer technology. Their online tools are simple, intuitive and easy to use.

United American offers online tools and live customer service to assist with insurance claims, billing and policy questions. These new tools allow customers to access information quickly and simply from the comfort of their own home.

For several years, United American’s insurance rate changes have been stable. In 2019, the average rate increases were between zero and 3.2%. This can vary by your state, but these are small changes compared to many other companies.

United American is a Solid Insurance Company

United American is a solid company. You should include them in your comparison shopping as you are searching for a Medicare Supplement company. They are part of the company lineup at Medicare Nationwide. We can help you compare their products against other products available to you. If they are the best fit, you can feel good about the company and the service you will receive.

Prefer to chat by phone? Give us a call at 1-888-227-6836.

Related Articles

United American Plan G Medicare Supplement Coverage
https://medicarenationwide.com/united-american-plan-g-medicare-supplement-coverage/

Medicare Supplement Plan Comparison
https://medicarenationwide.com/medicare-supplement-plan-comparison/

Medicare Supplement Plan G
https://medicarenationwide.com/medicare-supplement-plan-g/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United American

Rate stability
Competitive rates
Financial Stability
Coverage Area

Overall Rating
4.5 / 5 stars

Our TakeAetna was given a financially strong rating by both A.M. Best and S&P. Aetna has the added benefit of having the gym membership, Silver & Fit, "built in" to their policies which makes them more attractive. In certain areas, they are extremely stable. We enjoy working with Aetna and feel confident in recommending them.

Chat with us about your options
1-888-227-6836
Footer Logo
Join a daily Webinar!

Register to one of our daily webinars where we outline Medicare A and B and Medicare Supplements in 2021. We'll also show a comparison of Medicare Supplements vs Medicare Advantage plans.