Unum Life Insurance Review

1 min read

This Unum Life Insurance Review may assist you in making an educated decision about. Whether or not you have to pay a premium is determined on the way your company has set up your group life insurance program. Some businesses foot the bill for their employees’ insurance premiums, while others share the bill with their workers and require them to foot the whole bill themselves. See what Unum Life Insurance has to offer in our Unum Life Insurance Review.

How to get a quote from Unum life insurance?

Unum Life Insurance Review - Unum Logo

To enroll in your Unum life insurance group policy, speak with a representative from human resources at your company.

Pros and Cons of Unum

Pros

  • Portability
  • Protect your partner or child with an insurance policy.
  • Concerning the guarantee.
  • 70 percent of the cost has been paid for an additional 50 percent of the cost is covered

Cons

  • Merely the policies of the group
  • A lowering of the credit rating

What forms of life insurance does Unum provide?

Through your workplace, Unum provides two types of life insurance.

  • Term life insurance. Your company determines your term life options, although most provide 20-year term insurance with coverage in multiples of your income.
  • Whole life insurance. To grow cash value, all Unum whole life insurance policies provide a guaranteed interest rate of 4.5 percent. If your policy includes dividends, you can use them to buy paid-up additions, pay your premiums, cash out, or keep the funds in the policy to earn interest.

What riders can I add to my policy?

You may be able to modify your coverage with the following riders, depending on the choices chosen by your employer:

  • Accidental death benefit rider. If you die in a covered accident before the age of 70, your death benefit is doubled.
  • Accelerated death benefits riders. If you are anticipated to survive for 12 months or fewer, you can request that a portion of your death benefit, up to $150,000, be paid out early. The hastened death benefit rider is another name for this.
  • Child rider. Allows you to purchase up to $10,000 in term life insurance coverage for your kid between the ages of 14 and 25. They can then convert the insurance to a whole life policy for five times the initial face amount.
  • Waiver-of-premium rider. If you become fully handicapped, Unum will waive your premiums for the duration of your incapacity.

Unum life insurance reviews and complaints

As of October 2021, Unum Group has an A+ rating from the Better Business Bureau, but it is not a member of the BBB. Although not all of the complaints were about life insurance products, the company has resolved 87 in the previous three years, including 39 this year.

On the basis of 45 customer evaluations, Unum has a little more than a one-star rating, with the majority of complaints focusing on issues with the claims process and customer service. As a result, it’s impossible to gauge how well life insurance claims and service stand up against disability and health insurance.

Checkout our review of United Home Life Insurance Review for another car insurance review.