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:

• Additional financial protection with family coverage for spouses and children
• Accelerated "living benefit" available to covered individuals diagnosed as terminally ill
• Financial, legal and emotional counseling for beneficiaries
• High benefit maximums to help a family manage despite the loss of an income, up to $750,000 or five times annual salary
• Plans that can continue protection even if the employee changes jobs
• A guaranteed-issue amount, so employees can get a base level of coverage — and often increase the coverage amount later — with no health questions or physical exams
• Accidental Death and Dismemberment (AD&D) Insurance available for employees and dependents in amounts independent of the life benefit they purchase, based on their own insurance needs

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.