|
UNUMPROVIDENT NEW DISABILITY PRODUCT HELPS ANSWER INDUSTRY
DEMAND
FOR EMPLOYEE CHOICE
CHATTANOOGA, Tenn. (June 20, 2006) – UnumProvident, (NYSE: UNM)
the leading provider of income protection insurance in the United States and
the United Kingdom, announces its newest and most flexible disability product
offering – Select income protection insurance.
Select income protection is an innovative group offering that gives employers
and employees control over some specific policy features. With the steady rise
in the cost of healthcare and the need to recruit and retain talented workers,
employers are finding that the "one-size-fits-all" approach to benefits is
neither cost-effective nor employee friendly.
"Employers are looking beyond traditional benefits packages in their efforts to
control cost, and UnumProvident has a long-standing history of introducing
products that respond to these needs," said Kevin McCarthy, executive vice
president of risk operations. "Select income protection gives employees and
plan administrators more control over important aspects of their policies to
help address specific workplace benefits issues."
The Select income protection product will be available with short-term or
long-term coverage options. Major features of Select income protection
insurance products include:
-
Flexible plan designs that pair shorter waiting periods with longer duration of
benefits.
-
A variety of funding options
-
Employee choice of the specific benefit amount
-
The employer's ability to decide benefit duration
UnumProvident began selling the new Select income protection product in June,
with the earliest policy effective date of Sept. 1, 2006. Availability of
Select income protection insurance varies from state to state, depending on
regulatory approval. Additional products in the Select line include Educator
Select, and Select short term disability, which will be available in August.
For more information, visit www.unumprovident.com.
# # #
|