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United Security Life is a specialty compan
y, focusing on health insurance benefits for individuals and small groups. We believe that United Security has carved out a very nice niche in that business. USL's investment portfolio is 100%
invested in Government Securities, Investment Grade Bonds, and Cash. The industry average is 60%. United Security has recently been downgraded to C+ from AM Best.
Special Features -
. Preventive Dental included in medical benefits. Optional comprehensive dental available. 24 hour coverage included at no
additional cost. No precertification required. Flexible underwriting allow many conditions to be covered with a slight increase on base premium. Specialty products such as Dental, Disability and Cancer
give United Security some great niches.
Rates and Service-
Rates are in the good category across the board. USL is very competitive for individuals age 45+. In certain areas of Illinois and
Indiana, this plan is priced as much as 25% below the competition. Customer service is also good. Claims are usually processed in 10 days or less, less than half the national average.
Underwriting and Billing-
Underwriting is by health statement and medical records. If the individual is above age 40 or has a health history and has not had a
recent doctor visit., a paramedic exam may be ordered. Billing options range from monthly bank draft to annual billing.
Renewal Rate History -
If there is any weakness in this plan, it has been the inconsistent renewals in 1997 and 1998. Current ( 1/99) renewal rates are
accelerating at appx 1 1/2% per month.
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