United Security Assurance Company of Pennsylvania: Overview, Contacts, Coverage, Services, Financials

Looking for reliable and budget-friendly insurance in Vermont?

Explore United Security Assurance Company of Pennsylvania (USA) with us.

Established in 1983, this private life and health insurer provides various products, including long-term care, home health care, and impaired risk insurance.

Dive into this blog for an in-depth look at USA’s history, services, financials, coverage, and claims process.

United Security Assurance Company Details

Established in 1983 in Souderton, Pennsylvania, USA’s goal is to offer quality life and health products at fair rates.

USA boasts a robust leadership team, including senior executives, managers, and directors.

With a market share of approximately 0.1% in the US life and health insurance sector, the company employs around 50 individuals.

United Security Assurance Basic Information

Here is some basic information about USA that you might want to know:

United Security Assurance Services & Products

USA offers a range of insurance products that cater to different needs and preferences of its customers. Some of the main types of insurance that USA provides are:

• Long Term Care Insurance: This type of insurance covers the cost of care for people who need assistance with daily living activities, such as bathing, dressing, eating, etc. USA offers non-tax qualified, tax-qualified, and state Long Term Care Partnership-certified long term care insurance plans, with flexible benefits and options. USA also offers impaired risk long term care insurance plans for hard-to-place individuals, such as those with chronic conditions or disabilities.
• Home Health Care Insurance: This type of insurance covers the cost of care for people who prefer to receive care at home, rather than in a facility. USA offers stand-alone home health care plans, as well as home health care riders that can be added to long term care plans. USA’s home health care plans cover services such as skilled nursing, personal care, homemaker, and respite care.
• International Coverage: USA also offers international coverage for its customers who travel or live abroad. USA has partnered with International Medical Group (IMG), a leading provider of global insurance benefits and assistance services, to offer worldwide medical coverage, travel insurance, and emergency assistance. USA’s customers can access IMG’s network of providers, claims services, and 24/7 support.

Special Packages

• SecureHorizons: This is a new short-term care plan that USA launched in 2023. It covers the cost of care for up to 360 days, with a daily benefit of up to $300. It also includes a hospital indemnity benefit, a prescription drug benefit, and a wellness benefit. SecureHorizons is designed for people who need temporary or short-term care, or who want to supplement their existing long term care coverage.
• LifeStyle Solutions (LSS) and LifeStyle Solutions Select (LSS/Select): These are two innovative long term care plans that USA offers. They are designed to provide comprehensive and flexible coverage, with features such as inflation protection, cash benefit, shared care, and return of premium. LSS and LSS/Select also include a wellness benefit, a care coordination benefit, and a caregiver training benefit.

United Security Assurance Financial Details

USA is committed to providing its customers with affordable and competitive insurance products. Some of the financial details that you might want to know about USA are:

• Premium Costs: The premium costs of USA’s insurance products vary depending on factors such as age, health, benefit amount, benefit period, elimination period, inflation protection, and riders. USA offers online quote tools for its long term care and home health care products, where you can get an estimate of your premium based on your preferences and needs. You can also contact USA’s agents or customer service representatives for more information and personalized quotes.
• Payment Options: USA offers different payment options for its customers, such as monthly, quarterly, semi-annual, or annual payments. USA also accepts various payment methods, such as check, credit card, electronic funds transfer, or direct billing. USA also offers a 30-day free look period, where you can cancel your policy and get a full refund of your premium within 30 days of receiving your policy.

Discounts and Promotional Offers

USA offers various discounts and promotional offers for its customers, such as:

• • Spousal or Partner Discount: You can get a discount of up to 30% if you and your spouse or partner apply for the same long term care or home health care plan.
  • Preferred Health Discount: You can get a discount of up to 15% if you meet certain health criteria, such as having no chronic conditions, taking no medications, and having a normal blood pressure and cholesterol level.
  • Association Discount: You can get a discount of up to 10% if you are a member of certain associations or groups that have partnered with USA, such as AARP, AAA, or Veterans of Foreign Wars.
  • Multi-Policy Discount: You can get a discount of up to 10% if you have more than one policy with USA, such as a long term care and a home health care policy.
• Claim Payout Ratio: The claim payout ratio is the percentage of premiums that an insurance company pays out in claims. USA has a high claim payout ratio, which means that it pays out a large proportion of its premiums in claims. According to its latest financial report, USA paid out $36.7 million in claims in 2022, which was 87.5% of its total premiums

United Security Assurance Coverage Details

USA provides comprehensive and flexible coverage for its customers, with various benefits and options to choose from. However, like any insurance company, USA also has some policy exclusions and coverage limits that you should be aware of. Some of the coverage details that you should know about USA are:

• Policy Exclusions: USA’s policies do not cover the cost of care for certain conditions or situations, such as:
  • Pre-existing conditions: These are conditions that you had or were diagnosed with before you applied for or bought your policy. USA’s policies do not cover the cost of care for pre-existing conditions for the first six months of your policy, unless you disclosed them in your application and they were accepted by USA.
  • War or acts of war: These are situations where you are injured or need care as a result of war or any act of war, whether declared or undeclared, civil or international, or involving any military or paramilitary force.
  • Intentional self-inflicted injuries: These are situations where you injure yourself or need care as a result of intentionally harming yourself, such as suicide or attempted suicide.
  • Alcohol or drug abuse: These are situations where you need care as a result of abusing alcohol or drugs, or as a result of any condition caused by or related to alcohol or drug abuse, such as cirrhosis or overdose.
  • Mental or nervous disorders: These are situations where you need care as a result of any mental or nervous disorder, such as schizophrenia, depression, or anxiety, unless the disorder is caused by organic brain disease, such as Alzheimer’s or Parkinson’s.

Coverage Limits

USA’s policies have some limits on the amount and duration of coverage that they provide, such as:

• Benefit Amount: This is the maximum amount that USA will pay for your care per day, month, or year, depending on your policy. USA’s policies have different benefit amounts to choose from, ranging from $50 to $300 per day, or from $1,500 to $9,000 per month, or from $18,000 to $108,000 per year.
• Benefit Period: This is the maximum length of time that USA will pay for your care, depending on your policy. USA’s policies have different benefit periods to choose from, ranging from one year to unlimited.
• Elimination Period: This is the number of days that you have to pay for your own care before USA starts paying for your care, depending on your policy. USA’s policies have different elimination periods to choose from, ranging from zero to 180 days.
• Inflation Protection: This is an option that increases your benefit amount over time to keep up with the rising cost of care, depending on your policy. USA’s policies have different inflation protection options to choose from, such as 3%, 5%, or compound annual increases, or future purchase options.

ALSO READ

• Obsidian Pacific Insurance Company claim, phone, address, rating, careers, and reviews
• Wellpoint Tennessee, Inc. Elevating Assisted Living Services Company details
• Brooklyn Specialty Insurance Company Risk Retention Group, Inc.: Overview, Risk Retention Facility And Many More
• Continental Life Insurance Company of Brentwood (Tennessee): Overview, Contacts, Services, Financial Details, Claims, Reviews and Benefits