Companies of all sizes, including more than 40% of the Fortune 500, have chosen to do business with Unum. They trust our 10,000 professionals to deliver benefits that help protect 25 million working people and their families in the event of an illness or injury.
Group and voluntary benefits
Unum offers four group benefits designed to help employees deal with the financial impact of life-changing events:
- short and long term disability
- life
- long term care
These come with services and support to make HR administrators' jobs easier and a range of plan options that make sense for companies and organizations with a variety of budget pressures and goals.
Unum also offers an array of voluntary benefit products including accident, MedSupport, specified critical illness, life, individual disability and long term care insurance.
Disability benefits
Unum's long term and short term disability insurance replaces part of an employee's income when he or she becomes disabled due to a covered illness or injury.
- Short term disability coverage pays a portion of an employee's salary when he or she is unable to work for a short period of time (generally from 13 to 52 weeks) due to pregnancy, illness or injury.
- Long term disability coverage provides employees with benefits when they are unable to work for a longer period of time. Benefit periods vary, depending on the policy selected. The coverage comes with resources that can assist an employee's return to work when appropriate.
Unum offers affordable group disability benefits with the option for supplemental coverage that includes the chance to buy higher levels of protection. Group disability plans may also include
valuable employee services, such as a work-life balance employee assistance program and travel assistance services for medical emergencies. You may also offer Unum's
supplemental individual disability coverage as part of your benefits portfolio to attract and retain those with highly valued expertise and leadership skills in a competitive job market.
Long term care benefits
Long term care insurance is not just for the elderly, but it's definitely of concern to an aging workforce. You may be surprised to learn that the average age of a person making a Unum long term care claim is only 54
[6].
At any age, an employee can face an illness or injury that causes them to lose the ability to perform basic activities of daily living. It could be due to arthritis, Alzheimer's disease, a sudden stroke, cancer or another illness or injury.
Health plans do not cover the costs of long term care, Medicare does not cover long term care and Medicaid is generally available only after most other personal financial resources have been virtually depleted.
Talk to your broker about Unum's flexible funding options and plans that offer facility care and a home health option to provide more choices in long term care planning.
Life benefits
Many employers provide a basic level of life insurance to employees, and offer workers the opportunity to purchase higher levels of coverage at an affordable price.
- Term life coverage purchased through employers is affordable, portable and requires no physical exam.
- Interest-sensitive whole life insurance accumulates cash value employees can borrow from or use to buy a reduced policy with no more premiums due.
- Universal life coverage offers flexible premiums and the ability to increase or decrease the benefit as needs change.
- Group life plans also include Life Planning Financial & Legal Resources.
Supplemental health benefits
Unum offers supplemental health and critical illness insurance to help employees make ends meet when the unexpected hits:
- Critical illness offers financial help in the event of a serious illness, such as heart attack or stroke. The plan may also include coverage for cancer and family members.
- Accident insurance provides benefits in the event of covered injuries or accidents, with options that include family coverage and a $100-a-day benefit for hospitalization because of illness.
- The MedSupport plan offers a benefit of $500 to $2,000 in case of hospitalization and offers payments for diagnostic tests and outpatient surgery to help your employees absorb unexpected out-of-pocket medical-related expenses.
Benefits for your executive team
Group long term disability insurance, while a vital benefit, may not allow for sufficient income replacement levels for executives and highly compensated employees. And employees who depend on variable performance pay may have insufficient protection, because many group long term disability plans cover base salary only.
Adding supplemental individual disability insurance can provide an attractive extra layer of protection for your top performers. With supplemental individual disability coverage, you can provide a quality benefit with various funding options.