Unum Life Insurance Review

You may learn more by reading Unum Life Insurance review. You may or may not be required to pay a premium depending on how your employer has structured its group life insurance policy. When it comes to insurance premiums, some companies foot the bill for their employees, while others expect their employees to pay for the entire cost.

How to get a quote from Unum life insurance?

Unum Life Insurance Review - Unum Life Insurance Logo

To enroll in your company’s Unum life insurance plan, contact a human resources representative.

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?

Unum offers two forms of life insurance through your job.

  • Term life insurance. Term life insurance options are determined by your employer, although most companies provide 20-year policies with coverage in multiples of your salary.
  • Whole life insurance. All Unum whole life insurance contracts include a fixed interest rate of 4.5 percent, which can be used to build cash value. There are a number of ways to spend profits in your policy, including purchasing paid-up additions, paying the policy’s annual premiums, or cashing out.

What riders can I add to my policy?

Depending on your employer’s options, you may be able to customize your coverage using the following:

  • Accidental death benefit rider. As long as you die before the age of 70, your death benefit is doubled.
  • Accelerated death benefits riders. You can request that a part of your death benefit, up to $150,000, be paid out early if you expect to live for less than 12 months. Another name for this is the expedited death benefit.
  • Child rider. Insures your teen between the ages of 14 and 25 for $10,000 in term life insurance. Five times the initial face value can then be converted to a full life insurance plan.
  • Waiver-of-premium rider. For the period of your disability, Unum will waive your insurance premiums.

Unum life insurance reviews and complaints

The Better Business Bureau has given Unum Group an A+ rating as of October 2021, however the company is not a member of the BBB. Some concerns were regarding life insurance products, but 87 have been addressed since 2012, including 39 this year.

More than 40 customers have complained about the claims procedure and customer support at Unum, with the majority of complaints centered on these two areas. So it’s hard to compare how well life insurance claims and services stack up against those of disability and health insurance.

Check out our review of United Home Life Insurance Review for another insurance review.