Is Union Fidelity Life Insurance a Good Company?
UPDATED: Jan 7, 2013
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Asked January 7, 2013
Union Fidelity Life Insurance is an unusual sort of insurance company. The company sells insurance exclusively to Customers of General Electric Insurance. The company does not operate as a standalone insurer and is not available for contact except through postal mail or over the telephone. Union Fidelity Life Insurance is wholly owned by the General Electric Corporation.
Union Fidelity Life Insurance is listed as a subsidiary of the General Electric Company, and shares their financial ratings from companies such as the A.M. Best financial ratings company. General Electric is rated as "A- (Excellent)." In June of 2012, Best provided a long term outlook of stable to General Electric, with a rating of "a-." The General Electric Company is estimated to have total assets of between 250 and 500 million dollars.
Union Fidelity Life Insurance is a private company, and their insurance products are only available to a select group of people, specifically those served by the General Electric Corporation. The company does not maintain a website, and is only available for contact through phone or postal mail, an inconvenience which has had a negative impact on the satisfaction of their customer base.
Union Fidelity Life Insurance is only available through General Electric Insurance, but is licensed throughout the United States. The company does not offer coverage to non-affiliated customers. This means that even though the company has a national reach, they are quite limited in the number of people who have access to their life insurance products.
Insurance Products Offered
Union Fidelity Life Insurance sells a variety of life insurance products. General Electric customers may purchase from a selection of whole, term, and final expense life insurance, and there are a number of different life insurance products available, designed to meet a wide range of life insurance requirements. The company does not sell health, home or auto insurance.
Answered January 7, 2013 by Anonymous