COLUMBUS, Ga., Aug. 21, 2017 /PRNewswire/ -- Aflac, the
leader in voluntary insurance sales at the worksite in the United States, today announced the launch
of its new Group Term Life and Group Whole Life products to further
enhance its group life insurance portfolio. Along with the
introduction of Aflac's Universal Life offering that took place in
2016, the addition of these customizable, innovative life insurance
options allows Aflac to offer its broker partners a more robust
suite of product solutions than ever before.
"In a short period of time, Aflac has significantly expanded the
breadth and depth of our suite of true group and permanent life
insurance products, allowing us to offer one of the strongest
portfolios in the market," said Stephanie
Shields, vice president of Product Innovation and Marketing
at Aflac. "With our improved group life insurance portfolio, we can
meet the diverse needs of our distribution channels and enable
brokers to better satisfy the unique benefits needs of employees
quickly and easily. By becoming a true one-stop shop, we are
eliminating any need for brokers to look elsewhere to provide what
their clients want for their workers."
Group Term Life
Aflac's new Group Term Life product has a highly flexible plan
design that includes employer-paid, supplemental buy-up and
voluntary plan options. Furthermore, with three AD&D levels and
19 additional benefits, brokers can deliver options that align with
employer benefits strategies.
With features like a waiver-of-premium benefit and high plan
maximum amounts in coverage, brokers will feel confident in their
life insurance offering, knowing they are providing powerful
protection options priced to fit most budgets. The plan also
includes an accelerated death benefit, which allows the insured to
receive cash advances if diagnosed with a terminal illness. This
helps to give employees peace of mind by supplying them with a
financial safety net that they can control if the worst were to
occur.
Group Whole Life
Aflac's new Group Whole Life plan is a portable, permanent life
option with a maximum death benefit of up to $300,000 to help take care of immediate and
future needs if an insured should pass away. It includes benefits
to help with things like end-of-life expenses, medical costs, debts
and more.
The Group Whole Life product also builds cash value over time
and allows customers to accumulate savings at a guaranteed rate of
return. Insureds can access their guaranteed cash value and secure
loans through this insurance plan, if needed. Other improvements
include a living benefit rider, more competitive rates, increased
guaranteed-issue amounts that are tiered based on group size, and
enhanced broker commissions.
Beyond Life Insurance
With the addition of the new Group Term and Group Whole Life
insurance products to its suite of supplemental insurance
offerings, Aflac has become a one-stop shop for all broker needs.
By bundling life insurance with products such as Aflac's critical
illness, accident and hospital insurance, brokers can arm clients
with an impressive benefits package from a company that has been a
trusted, ethical provider for more than 60 years.
To learn more about Aflac's life insurance products, including
the new Group Term and Group Whole Life products, visit
aflacgroupinsurance.com. Aflac Universal Life is underwritten by
Trustmark Insurance Company.
About Aflac
When an insured gets sick or hurt, Aflac
pays cash benefits fast. For six decades, Aflac insurance policies
have given insureds the opportunity to focus on recovery, not
financial stress. In the United
States, Aflac is the leader in voluntary insurance sales at
the worksite. Through its trailblazing One Day
PaySM initiative, Aflac U.S. can receive, process,
approve and disburse payment for eligible claims in one business
day. In Japan, Aflac is the leading provider of medical and
cancer insurance and insures 1 in 4 households. Aflac insurance
products help provide protection to more than 50 million people
worldwide. For 11 consecutive years, Aflac has been recognized by
Ethisphere as one of the World's Most Ethical Companies. In 2017,
Fortune magazine recognized Aflac as one of the 100 Best Companies
to Work for in America for the 19th consecutive year and in 2017
included Aflac on its list of Most Admired Companies for the 16th
time. In 2015, Aflac's contact centers were recognized by J.D.
Power by providing "An Outstanding Customer Service Experience" for
the Live Phone Channel. Aflac Incorporated is a Fortune 500 company
listed on the New York Stock Exchange under the symbol AFL. To find
out more about Aflac and One Day PaySM, visit aflac.com
or espanol.aflac.com.
Aflac Group products are underwritten by Continental American
Insurance Company (CAIC). Aflac Individual products are
underwritten by American Family Life Assurance Company of
Columbus. In New York, coverage is underwritten by American
Family Life Assurance Company of New
York. In California, group
coverage is underwritten by Continental American Life Insurance
Company.
Media contact – Kristen
Fraser, 706.243.5543 or mediarelations@aflac.com
Analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667,
FAX 706.324.6330, or dyoung@aflac.com
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SOURCE Aflac