February, 26 2017

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Unum Life Insurance Review

Unum Life Insurance Review

Author
  • Price
  • Financial Strength

Unum Life Insurance Review

Pros: History– Unum has been in business since 1848. Market Leader– Unum has been one the nation’s largest disability and voluntary benefits insurance companies for nearly four decades.  Awards– In 2013, Unum made Forbes list of America’s 100 Most Trustworthy Companies.

Cons: Unum doesn’t have the least expensive rates for individual life coverage. (See price comparison below)

Bottom Line: Unum is the top disability insurance company and the leading provider of employee benefit solutions in the United States.  In reviewing their individual life insurance rates, underwritten by Provident Life and Accident Insurance Company they were not the least expensive available.  The bottom line as with as with all the companies we review, we recommend that you receive a quote from Unum and from the other top life insurance companies and choose the best company for you.

About

Founded: 1848

Type: Public-NYSE:UNM

Underwritten:

Individual Life Coverage is underwritten by Provident Life and Accident Insurance Company, Chattanooga, Tennessee

Group Life Coverage is underwritten by Unum Life Insurance Company of America, Portland, Maine

Website: unum.com

Phone: (423) 294-1011

Address: 1 Fountain Sq, Chattanooga, TN 37402

A.M Best Rating: A (Excellent) Third highest of 16 possible ratings

Comdex Ranking: 78 out of 100

BBB Rating: A+  

Life Insurance Products: Term Life Insurance, Whole Life Insurance, Universal Life Insurance, Group Life, Accidental Death and Dismemberment, Corporate-owned Life Insurance

Competitors: Assurant, Genworth, MetLife, Lincoln Financial Group,  Aetna, Cigna, United Health Group, Security Mutual Life, SBLI, State Farm, Farmers, Allstate, Nationwide, Aflac, American Family Life Insurance, ANICO, Allianz Life Insurance Company, Fidelity & Guaranty Life, American General Life, Banner Life, Protective Life, Primerica, Pacific Life Insurance, North American Co, Lincoln National Life, ING-Voya Financial, Transamerica, Prudential, Midland, Cincinnati Life, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Sagicor, Amica, Assurity, Colonial Penn, AARP, Globe Life, Ohio National Life Group, New York Life, Northwestern Mutual, EMC National Life, Motorists Life, Pan-American Life, National Life Group, American Family, Shelter, HoraceMann, Group Life Insurance, Supplemental Life Insurance, MassMutual.

Price Comparison

Sample rates for a $250,000 policy on a 10-year term at each company’s standard health class, for a 40-year old male, non-smoker.

AgeUnumMetLifeBanner LifeNY Life
40$42.88$23.99$23.63$29.64

 Group Life Insurance Reviews

What is your experience with Unum Life Insurance?  Tell others if you would recommend them to your friends and family.  Please leave a comment and rating below.

Summary
Review Date
Reviewed Item
Unum Life Insurance Company
Author Rating
3