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Last updated June 15, 2009
In 1947, United American, a subsidiary of Torchmark, was established based on four core values: stability, service, quality and commitment. Initially opening its doors to provide life, health and accidental death and dismemberment coverage to individuals in Texas, the UA now operates in 49 states and Canada. Today, the company is measuring its own success on how well it has translated those original core values into practice.
In 1982, Torchmark acquired United American. It had been formed after World War II by Casey Dunlap in Texas. After the 1966 Medicare law was passed, United American had begun to focus on senior citizens with its Medicare supplement policy.
United American emphasizes their understanding of the notion that each individual has different needs. In hopes of meeting the needs of their customers, they offer two types of life insurance: term life and whole life. Term life insurance, as the name suggests, offers coverage for a specified time period, usually one, five or ten years. If the insured dies within that time period, the death benefits will be paid to the survivors of the policy. If no death occurs in that time period, the coverage is terminated unless renewed for another term. Premium payments are usually less expensive for term life, but also depend on age and term renewal. Whole life, unlike term life, lasts for the insured’s entire lifespan. This type of plan offers set premiums that depend on policyholder’s age when the policy is issued. The premiums are usually required to be paid annually and a cash value accumulates with the payments. Contact United American Insurance Company at: United American Insurance Company 3700 S. Stonebridge Drive McKinney, Texas 75070 Telephone: (972) 529-5085 Sources: “How Do I Shop for Life Insurance?,” United American web site, 2008; “A Story Worth Telling,” United American web site 2008