If you or your covered dependents experience an injury such as broken bones, torn ligaments, burns or other covered injuries due to an accident, Accident coverage can provide you with a lump-sum benefit based on the type of treatment you need. The benefits you receive may cover expenses incurred from emergency room treatment, hospitalization, surgery, medical appliances, lodging, and certain follow-up therapy services.
These benefits are generally paid in addition to and regardless of other coverage you may have (i.e. health insurance).
Please review the plan documents to see the full schedule of benefits including covered injuries/incidents and covered expenses.
Group Critical Illness
Having a Critical Illness policy may help you pay for expenses you could incur when diagnosed with a covered illness such as a heart attack, stroke, coma, major organ failure and possibly cancer.
In general, under a Group Critical Illness policy you can receive a lump-sum benefit payment upon diagnosis of the covered condition to use as you see fit. For example, if you elect to have a $10,000 policy amount and experience a stroke you could receive the full $10,000. This benefit can be used to help offset your income, pay for deductibles and copayments, apply towards your regular living expenses, or even pay for transportation so your loved ones can be with you.
In addition, the policy you elect can be used for each covered condition as long as the allowable period of time has been met between the diagnoses of each condition. Each condition is payable once per lifetime. Depending on your plan options, you may also add Cancer as an additional covered condition. Spouse and Dependent coverage is also available.
This is your policy, therefore coverage is portable. You can take this coverage with you if you leave or retire without having to answer health questions.
Please review the plan documents to see details on the coverage options available including a full list of covered conditions.
Early diagnosis of cancer greatly improves your outcome for survival. According to the National Cancer Institute, the cancer survival rate has greatly improved over the past two decades due to early detection and more advanced treatment options.1
The costs associated with cancer treatment can seem overwhelming to those affected and to their families as well.Cancer coverage is designed to help offset some of these expenses. Depending on your specific policy, the payments you may receive could support the treatment crucial to your short and long term care as well as protect your assets after diagnosis.
Overall, a Cancer policy will help you pay for a variety of expenses associated with cancer care such as your out-of-pocket medical costs, home healthcare, rehabilitation and much more.
Whole Life Insurance:
While Term Life Insurance is an important benefit to maintain through your working years, Whole Life Insurance can also provide you with an additional level of Life Insurance coverage. Typically the premium for Whole Life insurance is fixed so your cost will not increase for the life of the policy. Whole Life insurance not only helps pay for final expenses it can also potentially accumulate cash value where, over time, you could borrow from that cash value.
Four features that add value:
- Cash value- Accumulates at a rate of 4.5%. Over time you can borrow from the cash value or use it to buy a reduced policy with no more premiums due.
- No physical exam- During this enrollment, you can get this insurance up to a specified amount without a health exam. You may be asked a few health questions.
- You own the policy- The payment is deducted from your paycheck and coverage becomes effective the first day of the month. You can keep the policy even if you leave or retire; Unum will bill you directly for the same premium amount.
- Living Benefit Option Rider- You can request an advance, up to 100% of the benefit amount ($150,000 maximum), if diagnosed with a terminal illness limited life expectancy to 12 months or less.