A review of the Union Security Health Insurance Company leads to the Union Security Insurance Company. Union Security Insurance is a stock company that underwrites and issues products for Assurant Health (Assurant). In 2010, Assurant had assets of about 26 billion, 8 billion in annual revenue and now has a market capitalization of approximately 4.2 billion.
Assurant offers a large array of products including life and health.
For your best, unique quote, you can type in your zip code to compare Assurant and different health insurance quotes.
With a large variety of specialty insurance products and locations throughout the U.S., Assurant manages an impressive portfolio. The goal of Assurant is to be leader’s in a very niche market and create a piece of mind advantage to its customers.
Union Security Insurance/Assurant Company Contact Information
Union Security Insurance Contact Information:
6941 Vista Dr.
West Des Moines, IA 50266
Assurant Health (Corporate Headquarters)
501 West Michigan Street
PO Box 3050
Union Security Insurance/Assurant Brief Company History
In 1892, Assurant started out as LaCrosse Mutual Aid Association and focused on disability insurance. The company later changed its name to Time Insurance Company. Another subsidiary of Assurant was Montana Life Insurance Company (later changed to Western Life Insurance Company) was created in 1910.
In order to keep up with demands and trends of the times, Assurant’s subsidiary companies expanded their products and moved into health insurance and life insurance along with disability insurance.
In the 1990s, Assurant kept adding to its overall business by adding several subsidiaries with niche specialties and international reaches. In the later 1900s, the subsidiaries of Assurant combined in order to meet financial needs and trends. By 1998, Assurant was the leader in small group health insurance.
Union Security Insurance/Assurant Products and Services
Customers of Assurant have a large variety of products and services from which to choose. The following are some of the products offered by Assurant:
- Homeowners Insurance (for Manufactured Housing)
- Debt Protection Products
- Credit Insurance
- Warranties and Extended Services Contracts
- Dental Insurance (for groups)
- Homeowners Insurance (for Specific Lender Placement)
- Group Disability Insurance
- Individual Health and Small Employer Group Health Insurance
- Funeral Insurance (that is funded beforehand)
- Group Life Insurance
Within each type of insurance, Assurant offers a number of benefits with each plan. For those looking for Specialty property insurance, Assurant offers the following benefits:
- Renters insurance
- Leased and financed insurance
- Homeowners insurance (for lender placement)
- Manufacturing housing homeowners insurance
For those looking for consumer protection, Assurant offers:
- Insurance on credit
- Debt protection insurance
- Warranties and extended service contracts
Assurant offers group dental insurance with preferred provider organization.
Assurant offers group disability with long-term and short-term disability insurance.
Assurant group life insurance offers term life and accidental death and dismemberment insurance.
Assurant’s group voluntary insurance offers 100% employee paid insurance (offered by employers).
Their health insurance also has a variety of benefits:
- Individual health insurance
- Short-term health insurance
- International individual health insurance
- Vision and dental savings plans
- Small group health insurance
Finally, Assurant has preneed life insurance that offers insurance to fund funeral expenses.
Union Security Insurance/Assurant Ratings
According to A.M. Best, Assurant has a financial strength rating of A-, which is considered “Excellent.” Along with their A- rating comes a “Stable” rating for their financial outlook.
A.M. Best also gave an “a-“rating for Assurant’s credit rating which is consider “Strong.” Their credit rating outlook was given a “Stable” rating as well. The ratings were established recently with an effective date of November 18, 2010.
Ratings for A.M. Best can fall between A++ to F. A++ is considered the best rating while F is the worst in terms of financial strength in a company. Any rating between an A++ and a B+ is considered “Stable.”
According to the Better Business Bureau (BBB), Assurant has been an accredited company with them since November 23, 2009. The BBB gave Assurant a rating of A+ (their highest rating).
Some of the factors that raised BBB’s rating include the following:
- Complaint volume filed with the BBB for business of its size
- Response to 754 complaints filed against the business
- Length of time the business has been operating
- Resolution of complaints filed against the business
- Sufficient background information on the business was found by BBB
- Accredited with BBB
Fortune 500 listed Assurant as number 285 on their list of largest publicly traded companies in the U.S. Fortune. Fortune Global 2000 listed Assurant as number 1,123 out of 2,000 on their list of top 2,000 companies worldwide.
With a great rating from A.M. Best and a large array of products that not only include health and life, but insurance for homeowners, Assurant is a great company to work with. Their customer service skills are also impressive with its “A+” rating from BBB. Finding an insurance company with unique products and great financial and customer service ratings is rare.
For more information on Assurant or to compare their rates with other company’s health insurance rates, type in your zip code and compare.