Many employees carry a basic term life plan, but it may not be enough to fully provide for their dependents. Unum Life Insurance offers multiple forms of coverage to suit your employees’ stages of life and evolving needs.
Life Insurance offers peace of mind, so your employees know their loved ones would be provided for. Because coverage is also available for their spouse and dependents, Life Insurance can also help your employees cover necessary expenses if they lose a loved one.
Losing a primary wage earner can be disastrous for a family’s finances. In the midst of grief, many families are forced to pull money from savings and investments or lean on family and friends for assistance.
Our Life Insurance benefits allow you to offer needed protection while also meeting your company’s goals. Many employees do not have access to life coverage outside of work. So whether you choose employee-paid, employer-paid or shared funding plans, your employees will appreciate the opportunity to enhance their coverage.
In the U.S., 67% of full-time workers who have life insurance get at least some of it through their employer, and 40% get all of their life insurance through their employer.1 Our Life Insurance plans can help fill real needs when your employees or their loved ones need it most, through features such as:
As time goes on, families expand, expenses fluctuate and financial responsibilities tend to grow. Unum offers two main types of Life Insurance plans that can supplement your current coverage and offer more options to employees:
Term Life Insurance provides affordable coverage during an employee’s working years to provide protection for the loved ones who depend on them. Employees can increase coverage at enrollment events and even take the protection with them if they change jobs.
Whole Life Insurance maintains constant premiums and benefits. These policies can last through retirement and build cash value over time, which employees can borrow from or use toward a paid-up policy at age 70 (no additional premium payments). A second option allows employees to pay smaller premiums through age 120.
| Term Life | Whole Life | |
|---|---|---|
| Key features |
Consistent Term Life is the ideal coverage for the high-demand working years |
Guaranteed Whole Life offers permanent coverage that remains the same |
| Cost to employees | $ | $$ |
| Death benefit | Payable within the selected term period | Stays the same as long as payments are made |
| Premium payments | Payments stay level during the selected term period | Payments stay consistent throughout the life of the policy |
| Cash value | Not a feature of Term Life | Cash values are set when the policy is purchased |
Even if they’re reaching the end of their working years, your employees want to know that their loved ones are protected. Whole Life Insurance can last through retirement to help ensure their spouse’s retirement savings can be left untouched.
Raising children is extremely rewarding, but education, extracurriculars and day-to-day care can be expensive. Term Life Insurance can help your employees ensure that, if they die, their children will be provided for.
Saving money every month is difficult for many families, and when the worst happens, your employees may not be prepared. Life Insurance provides coverage so that even without significant savings, they can have peace of mind that their loved ones will have the support they need.
When your employee or their beneficiary needs to file a claim, we make the process easy. Claims are managed by knowledgeable professionals who have received bereavement training, and we’re committed to making a life claim determination within three to five business days of receiving complete information.
Available with select Unum employee benefits plans, these services help your employees be even more prepared for challenges life might throw their way.
Dealing with the death of a family member is difficult enough — even before worrying about the personal, legal and financial decisions that need to be made. That’s why Unum group Life Insurance includes Life Planning Financial & Legal Resources2.
This service provides financial and legal guidance and emotional support for beneficiaries, as well as for employees and spouses who are terminally ill. Counselors offer customized, objective, personal advice to each covered individual. And regardless of their recommendations, the consultants don’t receive any commission.
Your employees may already have a lot on their minds — from finances to relationship issues. Does this affect their ability to focus on the job?
Unum’s work-life balance EAP3 can help employees prepare for the unpredictable — and keep small struggles from turning into major issues. With this program, they can receive guidance and support for issues that take their attention away from your business. And that means they can be more productive, both at work and at home.
Even the most thorough itinerary can’t prevent lost medication, accidents or sudden illnesses. So help your employees prepare — with Unum’s worldwide emergency travel assistance4. This service is available 24/7 to employees when they travel 100 or more miles away from home, whether for work or pleasure.
Group life coverage is underwritten by Unum Life Insurance Company of America, Portland, Maine
Individual life coverage is underwritten by Provident Life and Accident Insurance Company, Chattanooga, Tennessee
In New York, life coverage is underwritten by First Unum Life Insurance Company, New York, New York
The policies or their provisions may vary or be unavailable in some states. The policies have exclusions and limitations which may affect any benefits payable. See the actual policy or your Unum representative for specific provisions and details of availability.
