1. How much Life insurance do people need? Experts say at least 5 times salary. [1]
Yet many Americans are uninsured or underinsured. The Life and Health Insurance Foundation calls it a "Life crisis," with the same potential to impact families as the credit crisis and sub-prime mortgage crisis.
[2] Yet, despite the economic downturn, only 1% of life insurance policy holders had reduced or cancelled their coverage by the end of 3Q08 — a reflection on the value they place on this vital benefit.
[3]
2. How can employees know how much coverage they need and can afford?
Unum's educational employee enrollment materials include an easy-to-use worksheet calculator that leads them through the process. And the flyers are written in simple, everyday language that consumers can understand. See samples:
3. What's new for "Life?"
4. When is "Life" a "living" policy?
- When it's an individual voluntary life policy that includes an enhanced LTC rider. Here's what you need to know about this hot new offering:
- When it's a group voluntary life policy with AD&D coverage.
Unum's new enhanced AD&D plan now offers:
- Coverage equal to 10x employee earnings
- Up to $1 million benefit amount
- An AD&D maximum that can be higher than Life
- Dependent AD&D election independent of Life coverage