COLUMBUS, Ga., June 23, 2014 /PRNewswire/ -- In today's new
health care environment, people are especially interested in
purchasing insurance coverage to protect them from the rising costs
of health care. To help provide even more protection, Aflac (NYSE:
AFL), the leading provider of voluntary insurance in the United States, launched the new Aflac Plus
Rider to alleviate the financial challenges consumers face –
increasing deductibles, copayments and out-of-pocket maximums on
their major medical insurance. It is designed to enhance an
individual's coverage on a new or an existing voluntary accident,
hospital or disability plan. With the Aflac Plus Rider,
policyholders will be able to reduce out-of-pocket expenses
associated with serious accidents and illnesses such as heart
attacks, strokes, diabetes, traumatic brain injury, sustained
multiple sclerosis, advanced Alzheimer's disease, advanced
Parkinson's disease and many more.
For about 75 cents a
week1, the Aflac Plus Rider provides cash benefits with
the freedom to spend it as best as policyholders see fit if they
experience a serious health event. Cash benefits can be used to
help with their medical expenses or everyday living expenses. And,
the rider is guaranteed-issue which means there are no underwriting
questions.
"There's no substitute for being prepared for the unexpected,"
said J. Keith Pellerin, vice
president of Product Management and Innovation at Aflac. "We
created the Aflac Plus Rider, a rider that fits most budgets,
because people are in need of additional layer of coverage when
life-changing events happen and things like car payments, utility
bills and mortgage payments still need to be made."
Benefits highlights of the Aflac Plus Rider include:
- Tier One Critical Illness Event Benefit2:
Cash benefit of $5,000 payable once
per covered person, per lifetime for the actual date (onset date)
that one of the following covered critical illness events occurred.
- Heart Attack
- Stroke
- Coma
- Paralysis
- Type 1 Diabetes
- Traumatic Brain Injury
- Advanced Alzheimer's Disease
- Advanced Parkinson's Disease
- Amyotrophic Lateral Sclerosis
- Loss of Independence
- Sustained Multiple Sclerosis
- Permanent Loss of Sight
- Permanent Loss of Hearing
- Permanent Loss of Speech
- Sudden Cardiac Arrest
- Subsequent Tier One Critical Illness Event
Benefit2: Cash benefit of $2,500 payable upon covered person's onset date
of a recurrence of that same covered critical illness event, or an
occurrence of a different covered critical illness event in Tier
One as listed above. This benefit is payable if the subsequent
covered critical illness event is 180 days or more from the onset
date of any previously paid Tier One Critical Illness Event per
covered person. This benefit is not payable on the same day as the
Tier One Critical Illness Event Benefit.
- Tier Two Critical Illness Event Benefit2:
Cash benefit of $1,250 payable per
covered person upon the onset date of one of the following covered
critical illness events. This benefit is not payable on the same
day as the Tier One Critical Illness Event Benefit.
- Encephalitis
- Bacterial Meningitis
- Lyme Disease
- Sickle Cell Anemia
- Cerebral Palsy
- Necrotizing Fasciitis
- Osteomyelitis
- Systemic Lupus
- Cystic Fibrosis
- Coronary Artery Bypass Graft Surgery
Benefit2: The rider offers $1,250 of coverage payable once per covered
person, per lifetime when the policyholder undergoes coronary
artery bypass graft surgery.
Due to increased health care costs and the transformation of
workplace benefits, employees have started looking at their
benefits packages with more scrutiny. In addition, many employees'
finances remain in fragile condition and are one serious medical
event away from financial hardship according to the 2014 Aflac
WorkForces Report3:
- Only 17 percent of workers are extremely/very prepared to pay
for out-of-pocket expenses related to an unexpected serious illness
or accident that aren't covered by major medical insurance.
- Almost 5 in 10 (49 percent) workers say they would be able to
afford less than $1,000 in
out-of-pocket expenses associated with an unexpected, serious
illness or accident, and 27 percent could afford less than
$500.
With the Aflac Plus Rider, policyholders will have expanded
protection on their insurance coverage and be better prepared for
an unexpected medical emergency. The rider also carries benefits
for employers. Employers can provide their employees with more
robust benefits offerings at no direct cost to the company while
helping to increase employee retention and attracting new
candidates. Currently, the Aflac Plus Rider is only available in
AL, AR, HI, IA, IN, KY, LA, ME, MI, MO, MS, ND, NE, NM, NV, OK, SD,
TN, TX, UT, WI and WY.
For more information, visit Aflac.com/business, Small Business
Blog or follow @aflac on Twitter.
About Aflac
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For nearly six decades, Aflac
insurance policies have given policyholders the opportunity to
focus on recovery, not financial stress. In the United States, Aflac is the leading
provider of voluntary insurance at the worksite. In Japan, Aflac is the number one life insurance
company in terms of individual policies in force. Aflac individual
and group insurance products help provide protection to more than
50 million people worldwide. For eight consecutive years, Aflac has
been recognized by Ethisphere magazine as one of the World's
Most Ethical Companies. In 2014, Fortune magazine recognized
Aflac as one of the 100 Best Companies to Work For in America for
the 16th consecutive year. Also, in 2014, Fortune magazine
included Aflac on its list of Most Admired Companies for the 13th
time, ranking the company number one in the life and health
insurance category. Aflac Incorporated is a Fortune 500
company listed on the New York Stock Exchange under the symbol AFL.
To find out more about Aflac, visit aflac.com or
espanol.aflac.com.
1 The average weekly premium for individual
coverage (ages 18-29) for the rider is $0.72. Premiums may vary by coverage type,
account state of issue, and the election of additional/optional
benefits.
2 This is a brief product overview only. Coverage may
not be available in all states. The policy/rider have limitations
that may affect benefits payable. Please consult your Aflac
insurance agent for complete details of coverage, plan benefits,
limitations, and exclusions.
3 2014 Aflac WorkForces Report, a study conducted by
Research Now on behalf of Aflac, January
2014.
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Media contact – Kip Havel,
706.243.5543 or mediarelations@aflac.com
SOURCE Aflac