Introduction
Unum Life Insurance Company of America is a leading provider of disability insurance, life insurance, and voluntary benefits in the United States. With a rich history that spans over a century, Unum has established itself as a reliable and trusted insurance company, offering a range of products to meet the diverse needs of individuals and businesses.
History and Background
Unum Life Insurance Company of America, commonly known as Unum, was founded in 1848 as the Union Mutual Life Insurance Company. It started as a mutual company, owned by its policyholders, and initially focused on providing life insurance coverage. Over the years, the company expanded its product offerings and grew both organically and through strategic acquisitions.
In 1999, Union Mutual Life Insurance Company changed its name to UnumProvident Corporation after merging with The Provident Companies. The merger brought together two established insurance companies, creating a stronger entity with a broader range of products and services. Eventually, the company rebranded as Unum Group in 2007.
Unum Life Insurance Company of America operates as a subsidiary of Unum Group and is headquartered in Chattanooga, Tennessee. The company has a strong presence nationwide and serves millions of customers across the country.
Products and Services
Unum Life Insurance Company of America offers a comprehensive range of insurance products and services. These include:
Disability Insurance: Unum provides both short-term and long-term disability insurance coverage. Disability insurance helps protect individuals from the financial impact of a disability or injury that prevents them from working. Unum’s disability insurance policies offer income replacement and other benefits to ensure financial stability during difficult times.
Life Insurance: Unum offers various life insurance options, including term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period, while permanent life insurance offers lifelong protection. These policies can help individuals protect their loved ones financially in the event of their death.
Voluntary Benefits: Unum also specializes in voluntary benefits, which are additional insurance products that employers can offer to their employees. These benefits, such as critical illness insurance, accident insurance, and hospital indemnity insurance, provide employees with added financial protection and peace of mind.
Customer Satisfaction and Financial Strength
Unum Life Insurance Company of America has a strong focus on customer satisfaction and strives to provide excellent service to its policyholders. The company has received several accolades and awards for its commitment to customer service and claims handling.
In terms of financial strength, Unum has consistently demonstrated stability and resilience. The company has a strong balance sheet and maintains high ratings from independent rating agencies such as A.M. Best and Standard & Poor’s. These ratings reflect Unum’s financial strength and ability to meet its obligations to policyholders.
Conclusion
Unum Life Insurance Company of America is a reputable insurance provider with a long-standing history and a wide range of insurance products and services. Whether it’s disability insurance, life insurance, or voluntary benefits, Unum aims to protect individuals and businesses from financial risks and provide peace of mind. With a commitment to customer satisfaction and financial strength, Unum continues to be a trusted choice for insurance coverage.
References
– Unum Group: www.unum.com
– A.M. Best Rating: www.ambest.com
– Standard & Poor’s Rating: www.standardandpoors.com
