Aflac is the first insurance carrier approved to provide voluntary paid family leave insurance in Virginia

Rhea-AI Summary

Aflac approved to offer paid family leave insurance in Virginia

Positive

• Aflac is the first private insurance company approved to offer paid family leave insurance in Virginia, boosting their presence in the state.
• Paid leave can improve workers' economic security, leading to increased productivity and overall well-being.

Negative

• None.

COLUMBUS, Ga., Sept. 12, 2023 /PRNewswire/ -- Aflac, a leading provider of supplemental health insurance in the U.S., is the first private insurance company approved to offer paid family leave insurance in the Commonwealth of Virginia. The company recently filed for and received approval through Virginia's new Voluntary Paid Family Leave initiative. In April 2022, Virginia became one of the first states to enact a law enabling Virginia employers to purchase Paid Family Leave insurance for their employees from private insurance providers.

Under a voluntary paid family leave policy, workers can take time off for qualifying reasons, including but not limited to the birth or adoption of a child, foster care placement, to care for a family member with a serious health condition or for circumstances arising out of family members who are or will be on military active duty.

"Aflac is proud to be the first carrier approved to provide family leave insurance in the Commonwealth of Virginia, as part of their new voluntary Paid Family Leave insurance program. We are committed to providing best in class products and services in Virginia for those who select Aflac as their paid family leave benefits provider," said Aflac Senior Vice President, Group Life, Absence and Disability Solutions, Scott A. Beeman.

Paid leave enables workers to receive income protection, which can improve their economic security. It can lead to increased productivity and overall healthier well-being. Currently, eight states have adopted a voluntary paid leave program, while 14 states or jurisdictions have passed a form of mandatory paid disability and family leave for private industry workers.

Committed to paid leave, in 2021, Aflac was selected by the state of Connecticut to administer their mandatory paid family leave program. Aflac coverage will be available to employers having situs in Virginia who have purchased group insured short-term disability with our Group Life Absence and Disability Solution beginning in Q4 2023.  Find out more about Aflac's paid family leave coverage here.

Premier Life, Absence and Disability Services (PLADS): Group life, disability, and absence services are administered by Continental American Insurance Company (CAIC); in New York, products and services are administered by American Family Life Assurance Company of New York; in California, coverage is offered by Continental American Life Insurance Company. Products may not be available in all states and may vary depending on state law. Absence services are not insurance and are not legal advice.

ABOUT AFLAC INCORPORATED

Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for more than 67 years to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products.¹ In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance policies in force. In 2021, the company became a signatory of the Principles for Responsible Investment (PRI). In 2022, the company was included in the Dow Jones Sustainability North America Index for the ninth year, the World's Most Ethical Companies by Ethisphere for the 17th consecutive year, Fortune's World's Most Admired Companies for the 22nd time and Bloomberg's Gender-Equality Index for the fourth consecutive year. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated and its commitment to corporate social responsibility and sustainability at investors.aflac.com under "Sustainability."

Aflac | Aflac New York | WWHQ | 1932 Wynnton Road | Columbus, GA 31999.
Continental American Insurance Company (CAIC) | Columbia, SC

Media contact: Jon Sullivan, 706.573.7610 or jsullivan@aflac.com
Analyst and investor contact: David A. Young, 706.596.3264 or dyoung@aflac.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/aflac-is-the-first-insurance-carrier-approved-to-provide-voluntary-paid-family-leave-insurance-in-virginia-301923343.html

SOURCE Aflac