Protecting your loved ones and your way of life means protecting your income from the unexpected. Illness, injury, and loss can mean serious financial hardship.
Explore this page to learn more about better benefits at work:
http://unum.me/14HpZQw
Sunday, April 21, 2013
Saturday, April 6, 2013
Protecting the earning power of American workers
Scott Maker, senior vice president of Government Affairs at Unum, discusses how new partnerships and data are driving the important conversation of income protection. Maker also shares new research that, for the first time, quantifies the value of disability benefits.
http://files.parsintl.com/eprints/73128.pdf
http://files.parsintl.com/eprints/73128.pdf
Monday, March 4, 2013
Unum CEO Tom Watjen on CNBC: Insuring Future Growth
CEO Tom Watjen joined CNBC’s Squawk Box last Thursday morning to discuss the need for our products in the midst of a “tepid” economic environment. “We have found demand for the product despite the soft economic conditions,” Tom said.
The discussion also addressed future growth and potential road blocks for our company and industry. Watch the video here and see what else Tom had to say.
The discussion also addressed future growth and potential road blocks for our company and industry. Watch the video here and see what else Tom had to say.
Tuesday, February 5, 2013
Unum posts strong fourth quarter earnings results
Unum reported fourth quarter earnings today which showed solid earnings per share growth and a continuation of positive trends seen throughout the year. This is the seventh consecutive year that Unum has shown EPS growth.
The company reported after-tax operating income of $225 million, or 82 cents per share, compared to $228.2 million, or 78 cents per share, in the fourth quarter of 2011.
Net income was $233.9 million, or 85 cents per share, compared to a net loss of $369 million, or $1.26 per share a year ago, due mainly to charges the company took in its Closed Block business which created a one quarter loss.
Earnings in the U.S. business segment rose 2.3%, as premium income grew 3.2%. The benefit ratio--a measure of claim payouts versus premiums--improved to 84.5% from 84.7%, due in part to fewer claims for group long-term disability
During the earnings announcement, CEO Tom Watjen highlighted the strong performance of the company’s investment portfolio and how that has helped Unum through recent economic challenges, including a continued low interest rate environment.
Results reported from the fourth quarter include:
The company reported after-tax operating income of $225 million, or 82 cents per share, compared to $228.2 million, or 78 cents per share, in the fourth quarter of 2011.
Net income was $233.9 million, or 85 cents per share, compared to a net loss of $369 million, or $1.26 per share a year ago, due mainly to charges the company took in its Closed Block business which created a one quarter loss.
Earnings in the U.S. business segment rose 2.3%, as premium income grew 3.2%. The benefit ratio--a measure of claim payouts versus premiums--improved to 84.5% from 84.7%, due in part to fewer claims for group long-term disability
During the earnings announcement, CEO Tom Watjen highlighted the strong performance of the company’s investment portfolio and how that has helped Unum through recent economic challenges, including a continued low interest rate environment.
Results reported from the fourth quarter include:
- Operating income for Unum US increased 2 percent to $212.2 million, with premium income rising by more than 3 percent. The company continued to enjoy solid profitability and margins across most product lines this quarter.
Wednesday, January 23, 2013
Unum benefits in a post-reform era
Creating a post-reform benefits strategy
It’s expected that the cost of health care insurance will continue to rise. In fact, employers say health premiums will increase by another 7.2% in 2012 — nearly twice the rate of inflation.
As a result, nearly two-thirds of employers surveyed expect to use a wider variety of cost-sharing strategies:2
53% plan to increase the percentage that employees contribute to the premiums
39% plan to increase in-network deductibles
73% will offer employees at least one consumer-directed health plan in 2012, an increase from 61% offering a CDHP in 2011
The supplemental safeguard
These strategies can help businesses effectively manage costs, but they may leave employees financially vulnerable. In today’s challenging economy, a single illness or injury can have a profound impact:
41% of working age adults report they have had to go without medical treatment due to costs.
40% say they are having trouble paying off medical bills.
That’s why supplemental health benefits — particularly accident and critical illness — are growing in popularity. These 100% employee-paid plans make it simple for employees to choose the important coverage they need, with little or no impact to the company budget.
No impact on “Cadillac tax”
These benefits are also reform-friendly for employers. As long as the benefits are HIPAA-excepted, the premium is not part of the calculation used to determine whether a health plan exceeds the “Cadillac” excise tax threshold.
That tax, scheduled to begin in 2018, will place a 40% excise tax on plans with premium that exceeds set government thresholds. It will be levied on insurers (or, in self-insured plans, directly on employers). It is anticipated that insurers will pass some of this tax expense onto their customers.
77% of employers surveyed say they are somewhat to very concerned about this pending tax.5
These Unum benefits are all HIPAA-excepted. Click on the benefit to learn more.
Accident
Critical illness
Disability
Life
MedSupport
It’s expected that the cost of health care insurance will continue to rise. In fact, employers say health premiums will increase by another 7.2% in 2012 — nearly twice the rate of inflation.
As a result, nearly two-thirds of employers surveyed expect to use a wider variety of cost-sharing strategies:2
53% plan to increase the percentage that employees contribute to the premiums
39% plan to increase in-network deductibles
73% will offer employees at least one consumer-directed health plan in 2012, an increase from 61% offering a CDHP in 2011
The supplemental safeguard
These strategies can help businesses effectively manage costs, but they may leave employees financially vulnerable. In today’s challenging economy, a single illness or injury can have a profound impact:
41% of working age adults report they have had to go without medical treatment due to costs.
40% say they are having trouble paying off medical bills.
That’s why supplemental health benefits — particularly accident and critical illness — are growing in popularity. These 100% employee-paid plans make it simple for employees to choose the important coverage they need, with little or no impact to the company budget.
No impact on “Cadillac tax”
These benefits are also reform-friendly for employers. As long as the benefits are HIPAA-excepted, the premium is not part of the calculation used to determine whether a health plan exceeds the “Cadillac” excise tax threshold.
That tax, scheduled to begin in 2018, will place a 40% excise tax on plans with premium that exceeds set government thresholds. It will be levied on insurers (or, in self-insured plans, directly on employers). It is anticipated that insurers will pass some of this tax expense onto their customers.
77% of employers surveyed say they are somewhat to very concerned about this pending tax.5
These Unum benefits are all HIPAA-excepted. Click on the benefit to learn more.
Accident
Critical illness
Disability
Life
MedSupport
Wednesday, December 26, 2012
Unum recognized for commitment to clear communication
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Simpler is better. That philosophy drives the approach Unum (NYSE:UNM) takes to customer communication, and recently earned the company a ClearMark Award from the Center for Plain Language.
“This recognition is a great indication of the value of the work we’ve done to simplify our communications in every area of the business,” said Chris St. John, Consumer Strategy director at Unum. “Our industry is complex, so it’s a challenge to make plain language the standard. But we’re focused on making it happen.”
Judges at the recent ClearMark Awards named a guide from Unum the best document in its category. The guide clearly explains how to file a disability claim and what to expect once the claim is filed.
Judges praised the guide’s clear timeline and direct, jargon-free language. The revision of the guide was part of a much broader effort across the company to make Unum’s communications to its customers simpler and more effective.
“Making employee benefits easier to understand and use is critical to helping consumers protect their financial stability,” St. John said. “Individuals are increasingly responsible for choosing and paying for their financial protection benefits. Ensuring they have the information they need in a form that’s easy to understand is a strong focus for Unum.”
Among the ways Unum is making benefits information useful and clear:
“Across our business, we work in teams to assess and improve letters, forms and other documents,” St. John said. “We’ve rolled out training across the company to give employees clear, consistent guidance on simplifying their communications.
“We’ve made a lot of progress, but there’s always more to do. We’ll keep at it.”
View Unum’s winning entry in the ClearMark Awards here: http://centerforplainlanguage.org/awards/clearmark2012/unum/.
“This recognition is a great indication of the value of the work we’ve done to simplify our communications in every area of the business,” said Chris St. John, Consumer Strategy director at Unum. “Our industry is complex, so it’s a challenge to make plain language the standard. But we’re focused on making it happen.”
Judges at the recent ClearMark Awards named a guide from Unum the best document in its category. The guide clearly explains how to file a disability claim and what to expect once the claim is filed.
Judges praised the guide’s clear timeline and direct, jargon-free language. The revision of the guide was part of a much broader effort across the company to make Unum’s communications to its customers simpler and more effective.
“Making employee benefits easier to understand and use is critical to helping consumers protect their financial stability,” St. John said. “Individuals are increasingly responsible for choosing and paying for their financial protection benefits. Ensuring they have the information they need in a form that’s easy to understand is a strong focus for Unum.”
Among the ways Unum is making benefits information useful and clear:
- A benefits education site at GetBenefitSmart.com uses a fun quiz and conversational descriptions to help employees learn how benefits are useful at specific ages and stages of life. The site is also available in Spanish at BeneficiosParaMi.com.
- A benefits enrollment platform features a simple, shopping cart approach and a video coach who explains insurance terms in plain language;
- A health care reform information site at unum.com/HealthCareReform offers straightforward explanations of reform and its effects;
- Benefits enrollment booklets include simple education, rates and forms information, and a front-page summary of when and where enrollment events will occur.
“Across our business, we work in teams to assess and improve letters, forms and other documents,” St. John said. “We’ve rolled out training across the company to give employees clear, consistent guidance on simplifying their communications.
“We’ve made a lot of progress, but there’s always more to do. We’ll keep at it.”
View Unum’s winning entry in the ClearMark Awards here: http://centerforplainlanguage.org/awards/clearmark2012/unum/.
Monday, December 3, 2012
Top of our game, four years running
The results are in:
For the fourth year in a row, an independent industry study confirms that Unum stands alone as a voluntary benefits provider with no perceived weaknesses1 — from the products we offer to the service we provide.
Unum strengths include - product breadth, services excellence, strong broker and customer relationships, extensive use of technology, reputation for disability product leadership. This was concluded after an Eastbridge analysis of the TOP 13 voluntary benefits providers.
Unum sustained market leadership as the #1 whole/universale life provider. #2 in new VB sales and total inforce VB premium. #3 in critical illness and short term disability sales.
93% of customers are likely to recommend Unum.
Subscribe to:
Posts (Atom)