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Union Bankers Life Insurance Company

Union Bankers Life Insurance Company Overview

Union Bankers Life Insurance Company is a subsidiary of Universal American. The company has been in the insurance industry since 1953. the company’s products are framed to meet its customers’ needs. Union Bankers Life Insurance Company has earned the reputation for integrity over the years by maintaining the topmost ethical standards in each and every aspect of business. The company is headed by company Chairman Richard Barasch. The management team includes Gary Bryant as the President and Chief Executive Officer, and Robert Waegelein as the Executive Vice President.

Union Bankers Life Company Information

Lines of Insurance:
Life

States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

Type of Insurance Company: Stock (parent)

Name of Parent Company:
Universal American Financial Corp.

Union Bankers Life Company Rating: B+

Company Financial Status:
Ticker Symbol: UHCO (NASDAQ)
Assets & Premiums: 2005 Assets: $2.228 billion (parent)
2005 Premiums: $ 1.071 billion (parent)

Services Offered by Union Bankers Life Insurance Company

The company has been serving its customers for several decades by providing them a wide range of insurance packages to help cover their insurance needs.

Benefits and Claims of Union Bankers Life Insurance Company

The insurance packages of Union Bankers Life Insurance Company are the following. 1. Permanent whole life insurance

This insurance plan has the following features.

  • It includes up to $20,000 of protection for ages 0 – 85
  • Irrevocable coverage
  • Constant rate regardless of age or health
  • Steady benefits for the life of the policy

It has a joint whole life policy that includes up to $20,000 of protection for ages 18 – 85. This plan covers two persons under one policy. It provides permanent coverage for the insured and a spouse on a first to die basis.

2. The modified benefit whole life insurance

  • This package is for ages 0-75, that covers up to $10,000 of protection.
  • The payment will be on a graded benefit basis. It makes the plan affordable for clients.
  • Accidental deaths will be covered from the first day the plan is in effect.

3. Mid market term life covers $10,000 to $50,000 of protection for ages 20 - 66.

4. Ten pay whole life insurance, covers up to $20,000 of protection for ages 0 – 80 and for ages 81 – 85, up to $10,000 is offered. Premiums remain constant and by no means will increase during the 10 year premium payment period.

Union Bankers Life Insurance Company Contact Details & Phone Number

Union Bankers Life
Chairman Richard Barasch
8001 Broadway, Ste. 301
Merrillville, IN 46410
Phone Number: 800-789-6364

Where to send complaints:
Union Bankers Life Customer Service
Phone Number: 800-789-6364


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