Unum Life Insurance – Your Guide to Understanding This Vital Coverage

Unum is a trusted provider of life and disability insurance coverage. Founded in 1848 as the Union Mutual Life Insurance Company, it has since gone through several changes and mergers to become the Unum Group we know today. Unum is dedicated to helping individuals and businesses protect their financial security in the face of unexpected events, such as illness or injury that prevents them from working.

Overview of Unum Life Insurance

Unum offers a range of life insurance products, including term life, whole life, and universal life insurance policies. With these policies, you can choose the coverage amount and term length that best suits your needs. Unum also offers riders that allow you to customize your policy, such as the ability to add accidental death and dismemberment coverage or a waiver of premium rider that would allow you to stop paying premiums if you become disabled.

Unum’s life insurance products are designed for individuals and families who want to protect their loved ones financially in the event of their death. For businesses, Unum offers group life insurance plans that can provide coverage for employees and their dependents.

Term Life Insurance

Term life insurance is a popular choice for those who need temporary coverage. Unum’s term life insurance policies provide coverage for a specified period, usually between 10 and 30 years. If the policyholder dies within the term, the beneficiary receives a death benefit payout. If the policyholder outlives the term, the coverage ends without any payout.

Unum’s term life insurance policies are renewable and convertible, meaning you can extend the coverage or convert it to a permanent policy without having to go through additional underwriting.

Whole Life Insurance

Whole life insurance provides permanent coverage that lasts throughout the policyholder’s lifetime. As long as the policy stays in force and premiums are paid, the death benefit will be paid out to the beneficiary when the policyholder dies. Whole life insurance also builds cash value over time that can be borrowed against or used to pay premiums.

Unum’s whole life insurance policies provide level premiums and death benefits, making it easy to budget for and plan for the future.

Universal Life Insurance

Universal life insurance offers flexible coverage that allows policyholders to adjust their premiums and death benefits over time. With these policies, you can also use the cash value to pay premiums, take a loan, or withdraw funds.

Unum’s universal life insurance policies provide guaranteed minimum interest rates and flexible investment options, giving policyholders more control over their coverage and savings.

FAQ: Unum Life Insurance

Why Choose Unum Life Insurance?

Unum has a reputation for providing reliable and affordable life insurance coverage. Here are some reasons why you might choose Unum:

• Customizable Coverage: Unum offers a range of life insurance policies and riders that allow you to customize your coverage to meet your specific needs.
• Financial Stability: Unum is a financially stable company with a strong track record of paying claims.
• Industry-Leading Tools and Resources: Unum provides innovative tools and resources to help you manage your coverage and plan for the future.
• Expert Support: Unum’s team of insurance experts are available to provide guidance and support throughout the policyholder’s journey.

Conclusion

Unum is a trusted provider of life insurance coverage that can help protect individuals and families from unexpected financial hardship. With a range of customizable policies and riders, you can find the coverage that best suits your needs and budget. Whether you’re looking for term life, whole life, or universal life insurance coverage, Unum has the products and expertise to help you navigate the insurance landscape and feel confident in your coverage.