Why Choose Unum for Life Insurance
When planning for tomorrow’s uncertainties, Unum stands out with its comprehensive life insurance portfolio tailored to meet diverse needs:
- Flexible Coverage Options: From affordable term policies to cash-value universal life, Unum offers both temporary and lifelong protection.
- Group & Individual Plans: Whether through your employer or on your own, you’ll find Unum solutions that integrate seamlessly with existing benefits.
- Accelerated Death Benefit Rider: Access up to 50% of your death benefit early if diagnosed with a qualifying terminal illness—providing crucial liquidity when it matters most.
1. Term Life Insurance: Affordable, Straightforward Protection
Unum’s Term Policies are ideal for covering time-limited obligations such as:
- Mortgage Balances
- College Tuition Costs
- Income Replacement During Child-Raising Years
Key Features:
- Level Premiums: Your monthly cost stays the same throughout the chosen term (10, 15, 20, or 30 years).
- Conversion Privilege: Convert to a permanent policy without additional medical underwriting before age or term limits—guaranteeing lifelong coverage if circumstances change.
- Underwriting Flexibility: Many applicants qualify with minimal health questions or exams, speeding up approval.
2. Universal Life Insurance: Lifetime Coverage & Cash Value Growth
For those seeking permanent protection plus an investment component, Unum’s Universal Life delivers:
- Adjustable Death Benefit: Increase or decrease your coverage (subject to underwriting and policy guidelines) as your needs evolve.
- Tax-Deferred Cash Accumulation: A portion of your premium builds cash value, which you can borrow against or use to pay future premiums.
- Interest Crediting Options: Choose from a variety of crediting rates linked to market indexes or fixed accounts—balancing growth potential with stability.
3. Supplemental and Voluntary Life: Enhancing Your Employee Benefits
Many employers partner with Unum to offer:
- Basic Group Life: A base multiple of salary (commonly 1× or 2×) at no cost to the employee.
- Supplemental Coverage: Voluntary buy-up options—up to 5× salary or a flat amount—to fill any protection gaps.
- Dependent Life Plans: Affordable coverage for spouses and children, ensuring every family member has a safety net.
Benefit: Employees retain supplemental coverage even if they change jobs, thanks to portability features.
4. Unique Riders & Features That Set Unum Apart
- Accelerated Benefit Advance: Draw a portion of the death benefit upon diagnosis of a terminal illness, helping cover medical bills or end-of-life expenses.
- Waiver of Premium for Disability: If you become totally disabled, Unum waives your future premiums while keeping your coverage in force.
- Child Term Rider: Add a level amount of coverage for each eligible child—often convertible to a permanent policy when they reach adulthood.
5. Competitive Rates & Easy Application
Unum streamlines your purchase with:
- Online Quotes: Instantly compare term and universal life options based on your age, health, and desired coverage level.
- Accelerated Underwriting: Many applicants under age 50 with standard health metrics can get approved without a paramed exam.
- Dedicated Support: Unum’s licensed agents guide you through policy selection, beneficiary designations, and riders to tailor the best plan.
How to Determine Your Coverage Needs
To calculate the right amount of unum life insurance:
- Income Replacement: Multiply your annual income by the number of years your dependents would need support (commonly 10–20).
- Debt & Final Expenses: Add outstanding mortgages, loans, and $10,000–$15,000 for funeral costs.
- Education & Legacy Goals: Include future college tuition or legacy gifts you wish to leave.
- Existing Resources: Subtract any employer-provided coverage or savings earmarked for these purposes.
Example:
$75,000 salary × 15 years = $1,125,000
- $200,000 mortgage balance
- $100,000 college fund
- $10,000 final expenses
– $150,000 existing coverage
= $1,285,000 total recommended coverage