Unum provides extra coverage for pregnancy complications, added cancer benefits and life-threatening illnesses

Rhea-AI Summary

Employers are planning to increase investments in health insurance, prioritizing the benefits that workers want and need, according to research from Unum. Unum's critical illness insurance is adding more financial protection for policyholders and their families. They have introduced a new cancer benefit that provides ongoing support and coverage. The coverage now includes a wider range of life-threatening illnesses and behavioral health solutions for occupational PTSD. A healthy habits benefit is also available for policyholders who want to improve their health.

Positive

• Employers plan to increase investments in health insurance
• Unum's critical illness insurance adds more financial protection for policyholders
• Unum introduces a new cancer benefit that provides ongoing support and coverage
• Coverage now includes a wider range of life-threatening illnesses
• Healthy habits benefit available for policyholders who want to improve their health

Negative

• None.

CHATTANOOGA, Tenn., July 17, 2023 /PRNewswire/ -- Employees say they are looking for additional health and wellness benefits and employers are listening. According to research from Unum (NYSE: UNM), a leading employee benefits provider, employers are planning to prioritize those benefits workers say they want and need. Over the next year, employers plan to increase investments in health insurance. Unum's critical illness insurance, which provides benefits upon diagnosis of a serious illness or medical event, is adding more financial protection for policyholders and their families.  

"Providing coverage that includes enhanced protection for critical illnesses is an investment in the well-being and security for employees, said Tom Dupuis, VP of Products. "Employers look to supplemental coverage to help ease the burden of unexpected out of pocket medical expenses."

According to the American Cancer Society, there were 1.9 million new cancer cases diagnosed in the U.S. in 2022. Unum has introduced a new cancer benefit that provides ongoing support and coverage. After receiving a lump sum payout for cancer treatment, policyholders can receive an additional percentage of their policy's total benefit amount for each month of treatment, up to another 100%. The coverage includes hospital stays, chemotherapy, radiation, surgery and hospice. 

Incorporating new medical conditions to better address diverse health concerns, there's a wider spectrum of life-threatening illnesses now covered including:  

a.  Sudden cardiac arrest and new procedures that qualify for coronary artery disease benefits 
b.  Type 1 Diabetes, Sickle Cell Anemia and Congenital Heart Disease  
c.  Huntington's Disease, Lupus, Muscular Dystrophy, Myasthenia Gravis, Systemic Sclerosis and Addison's Disease 
d.  Supplemental conditions - Transient ischemic attacks (TIA) also known as mini-stroke, pulmonary embolism, bone marrow or stem cell transplants
e.  A behavioral health solution for occupational post-traumatic stress disorder (PTSD) 

The broadened range of illnesses covered includes pre-eclampsia, which happens in one out of 25 pregnancies, ectopic pregnancy, and NICU services for newborns.

A healthy habits benefit is available for policyholders who want to improve their health and   participate in an eligible healthy lifestyle program that incorporates emotional health, nutritional education and exercise. 

The enhancements continue the modernization of coverage, which is one of many additional employee benefit solutions that provides support for time away from work, technology integration with HR systems and administrative assistance. 

Click for more information on Critical Illness Insurance, or contact the customer relations team at 800-321-3889.  

*Enhancements are not available in all states. 

THIS INSURANCE PROVIDES LIMITED BENEFITS. Critical Illness Insurance is referred to as Specified Disease Insurance in New York and North Carolina. This policy provides limited benefits health insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The insurance or its provisions may vary or be unavailable in some states. The insurance has exclusions and limitations which may affect any benefits payable. See the actual policy or your Unum representative for specific provisions and details of availability. Applicable to policy form UIC-GCIP16-2 Underwritten by Unum Insurance Company, Portland, ME. In New York and New Jersey underwritten by Provident Life and Casualty Insurance Company, Chattanooga, TN. Unum is a registered trademark and marketing brand of Unum Group and its insuring subsidiaries.

About Unum Group
Unum Group (NYSE: UNM), an international provider of workplace benefits and services, has been helping workers and their families for 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support and behavioral health services. In 2022, Unum reported revenues of about $12 billion and paid $8 billion in benefits. The Fortune 500 company is one of the 2023 World's Most Ethical Companies, recognized by Ethisphere®. 

Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram

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SOURCE Unum Group

FAQ

What are employers planning to prioritize?

Employers are planning to prioritize the health and wellness benefits that workers want and need.

What does Unum's critical illness insurance provide?

Unum's critical illness insurance provides benefits upon diagnosis of a serious illness or medical event, adding financial protection for policyholders and their families.

What new benefit has Unum introduced?

Unum has introduced a new cancer benefit that provides ongoing support and coverage.

What does the coverage for critical illnesses now include?

The coverage now includes a wider range of life-threatening illnesses, such as sudden cardiac arrest, type 1 diabetes, and lupus.

Is there a benefit for policyholders who want to improve their health?

Yes, a healthy habits benefit is available for policyholders who want to improve their health and participate in an eligible healthy lifestyle program.