United Investors Life Insurance Company (UILIC) was an American life insurance company based in Birmingham, Alabama. It provided individual life insurance and annuity products. The Company became a wholly owned subsidiary of Protective Life Corporation in 2010 and was eventually merged with its parent company.[1]
As of 2010, UILIC had more than $14 billion of insurance in force with more than 150,000 policies and 1,400 licensed Agents nationwide. At that time, United Investors Life Insurance Company held the A (Excellent) Financial Strength Rating from AM Best.[2]
History
United Investors was founded in 1961.[3]
Prior to October 1981, all outstanding stock of United Investors Life was held by Waddell & Reed, Inc. (90 percent), the distributor and manager of the “United Group” of Mutual Funds, and its parent, Continental Investment Corporation (10 percent), a financial services holding company. At that time, Torchmark Corporation, through a subsidiary, acquired all three companies.