Unum Group Term Life Insurance: Core Protection for Your Workforce

Introduction

Life’s unexpected moments can leave loved ones facing financial strain. Unum Group Term Life Insurance delivers straightforward, cost‑effective protection—paying a tax‑free death benefit if an employee passes during the term. Backed by Unum’s strong financial ratings and comprehensive service, this employer‑sponsored solution helps organizations provide essential security while simplifying benefits administration.

1. Key Features of Unum Group Term Life

2. Administrative Advantages

• Simplified Enrollment
  Digital platform with auto‑populated census data and online elections reduces HR workload.
• Payroll Deduction
  Premiums deducted seamlessly, ensuring timely collection and minimal paperwork.
• Dedicated Service Team
  Unum’s case managers guide you through plan design, implementation, and ongoing support.
• Compliance Tools
  Automated eligibility checks, reporting dashboards, and notice generation help meet ERISA and COBRA requirements.

3. Why Employers Choose Unum

1. Affordability
   Group rates leverage scale to deliver term life at a fraction of individual‑policy cost.
2. Flexibility
   Customize coverage levels, GI thresholds, and riders to fit workforce demographics and budget.
3. Employee Value
   Conversion and portability options give staff peace of mind that protection can continue beyond employment.
4. Trusted Partner
   Unum’s A‑rating from AM Best signals reliable claims paying and plan stability.

4. Enrollment & Claims Process

1. Plan Setup
   Work with Unum to define coverage tiers, GI limits, dependent options, and rider selections.
2. Employee Elections
   During open enrollment or new‑hire, employees choose coverage amounts online—requiring minimal HR intervention.
3. Evidence‑of‑Insurability
   For elections above the GI threshold, employees complete a brief health questionnaire.
4. Claim Filing
   Beneficiaries submit a simple form and death certificate; Unum aims to process straightforward claims within 5–7 business days.
5. Ongoing Management
   Access real‑time enrollment reports, premium reconciliation, and compliance documentation via the Unum portal.

5. Frequently Asked Questions

Q: What happens if an employee leaves the company?
A: Upon termination, employees can convert to an individual policy or, in some plans, port group term coverage—maintaining protection without medical underwriting.

Q: Are employer‑paid premiums taxable to employees?
A: Employer‑paid group term premiums up to $50,000 of coverage are tax‑free per IRS code; amounts above $50K may generate imputed income.

Q: Can employees increase coverage mid‑year?
A: Increases typically require a qualifying life event (marriage, birth) to waive EOI; otherwise, elections occur at open enrollment.

Q: How do AD&D benefits work?
A: If a covered accidental death or specified dismemberment occurs, Unum pays an additional benefit—often equal to or a percentage of the base life amount.

Conclusion

Unum Group Term Life Insurance offers employers a scalable, budget‑friendly way to deliver essential life insurance protection. With flexible design options, streamlined digital administration, and value‑added riders like AD&D and accelerated benefits, Unum helps organizations attract and retain talent—while giving employees confidence that their families will be supported if the unthinkable happens. Contact Unum today to tailor a group term life program that aligns with your workforce needs and financial objectives.