Is Unum Insurance Company legit? A Comprehensive Review

Is Unum Insurance Company legit? Let us find out in this comprehensive article

Unum Insurance Company is one of the largest providers of disability and other benefits in the United States, with over 10,000 employees and 36 million customers.

But is the Unum insurance company legit?

How does it treat its policyholders and claimants?

What are the pros and cons of Unum’s products and services?

In this article, we will answer these questions and more, based on the latest information and reviews available online.

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Is Unum Insurance Company legit for disability?

Unum offers both short-term and long-term disability insurance policies, as well as individual disability insurance for high earners.

These policies are designed to replace a portion of your income if you become unable to work due to a covered illness or injury.

However, Unum has a reputation for denying or terminating legitimate claims, using unfair tactics and practices, and facing numerous lawsuits and regulatory actions.

According to the American Association for Justice, Unum was named the second-worst insurance company in the U.S. in 2008 based on its history of bad faith and abusive behavior.

Some of the common complaints against Unum include:

  • Selectively picking out facts on a claim, focusing on certain parts of an individual’s medical file, and ignoring others that justify the denial or termination
  • Relying heavily on in-house medical reviewers of paperwork rather than doctors who conduct in-person examinations
  • Using a lack of objective evidence of disability to deny or terminate claims even when policies do not require such proof
  • Rejecting or ignoring the claimant’s treating physician’s medical reports and recommendations in favor of the findings of company-sponsored IMEs
  • Unfair evaluation of attending medical examiner notes
  • Failure to evaluate the totality of the claimant’s medical condition.
  • Placing an inappropriate burden on claimants to justify their eligibility for benefits

Therefore, if you are considering buying a disability insurance policy from Unum, or if you already have one and need to file a claim, you should be aware of the potential challenges and difficulties you may face.

You may also want to consult with a disability insurance lawyer who can help you protect your rights and interests.

Unum Life Insurance Payout

Unum offers two types of life insurance policies: term life and whole life.

Term life insurance provides a death benefit to your beneficiaries as long as the policy is active, but it’s not designed to provide permanent coverage. If a policy is not renewed, it will expire once its term ends. With group coverage, it may be renewed every year.

Whole life insurance offers longer-term coverage with the ability to build cash value at a guaranteed rate and is tax-deferred and accessible during your lifetime.

Instead of adjustable premiums and benefits, however, the coverage remains constant as you grow older.

Unum will pay benefits to the beneficiaries in one lump sum; however, if a beneficiary is a minor (typically younger than 18, but this may vary by state) and no financial guardian has been appointed, the benefits will be paid to that minor through a Unum Retained Asset Account.

This is a convenient and secure way to receive and manage the funds, with no fees or charges and the option to withdraw the money at any time or leave it to earn interest.

However, some beneficiaries may prefer to receive the benefits in a different form, such as a check or a direct deposit, or to invest the money elsewhere.

In that case, they can contact Unum and request a change of payment method.

Unum Insurance Company Reviews

Unum has received mixed reviews from its customers, with some praising its customer service, educational materials, online claim filing, and financial strength, and others criticizing its policy types, claim denials, and lack of live chat.

According to Investopedia, Unum has an A (excellent) rating from AM Best, signifying excellent financial strength.

It also received fewer complaints than expected for a company of its size, according to the National Association of Insurance Commissioners (NAIC).

However, Unum offers only term and whole life insurance policies and does not have a live chat option on its website.

On Trustpilot, Unum has a rating of 2.3 out of 5 stars, based on 64 reviews.

Some customers expressed satisfaction with Unum’s products, prices, and staff, while others complained about Unum’s claim process, communication, and data breach.

On Consumer Affairs, Unum has a rating of 1.5 out of 5 stars based on 440 reviews.

Many customers reported problems with Unum’s disability claims, such as delays, denials, terminations, and requests for reimbursement.

Some customers also accused Unum of fraud, deception, and bad faith.

Is Unum Dental Insurance good?

The company offers dental insurance plans that can help reduce out-of-pocket expenses for routine dental exams and advanced procedures.

Unum claims that its plans are expertly designed and have a broad provider network to provide quality dental care while keeping costs down.

Unum Dental members can benefit from online access to their ID card, coverage information, claim history, and more through a secure member portal.

They can also visit any dentist and receive coverage, but the services are discounted when they use a provider in Unum’s national network.

However, some customers have expressed dissatisfaction with Unum’s dental insurance, saying that the level of coverage is not worth the price, that the claims are not processed quickly or accurately, and that the customer service is not helpful or responsive.

On Trustpilot, Unum has a rating of 2.3 out of 5 stars, based on 64 reviews.

Unum Long-Term Disability Requirements

To qualify for Unum long-term disability, you need to:

  • Be under the regular care of a physician
  • Be limited from performing the duties required of your regular occupation due to sickness or injury and be not working, or have a 20% or more loss in monthly earnings due to sickness or injury
  • Need assistance with at least two Activities of Daily Living (ADLs) for more than 90 days or have a severe cognitive impairment requiring substantial supervision
  • Show that you were disabled before the age of 55 or 60 and that you continue to be disabled through age 65
  • Provide personal, employment, and medical information to Unum
  • The amount and duration of your benefits will depend on your plan and your disability.

Generally, Unum will pay you a percentage of your monthly income, up to a maximum amount, for as long as you meet the definition of disability under your policy.

However, Unum may reduce or terminate your benefits if you do not comply with its requests for information, examinations, or treatments, or if you recover from your disability or return to work.

Unum may also offset your benefits with other sources of income, such as Social Security, workers’ compensation, or retirement benefits.

Unum Insurance Company Phone Number

The phone number for Unum Insurance Company is 1-800-635-5597.

This is the number to call if you want to file a claim, check the status of a claim, or ask questions about your policy.

You can also use this number to request a paper claim form or to speak with a customer service representative.

The phone lines are open from Monday to Friday, 8 a.m. to 8 p.m. Eastern Time.

Alternatively, you can contact Unum online through its website or mobile app.

You can file a claim, view your benefits, upload documents, and access other resources through your online account.

You can also send an email to Unum through its contact form.

However, Unum does not have a live chat option on its website, so you may have to wait for a response.

Unum Insurance Company Complaints

Unum Insurance Company has also received numerous complaints from customers who were dissatisfied with the company’s products, services, and customer support.

Some of the common complaints against Unum are:

  • Unum’s payments for claims take a long time and are not always the agreed-upon amount.
  • Unum’s website is not user-friendly and does not allow customers to log in, submit documents, or access their policy information.
  • Unum’s customer service representatives are rude, unhelpful, and hard to reach.
  • Unum’s claims process is complicated, confusing, and stressful, and it requires customers to provide excessive documentation and information.
  • Unum’s policies are expensive, misleading, and full of exclusions and limitations that affect the benefits payable.

Unum Insurance Company Claims

Unum Insurance Company claims that it provides comprehensive and flexible coverage options to meet the diverse needs of its customers.

The company claims that it offers the following benefits to its policyholders:

  • Financial protection and income replacement in case of disability, illness, injury, or death
  • Access to online tools and resources to file and manage claims, set up direct deposit, update information, upload documents, and view policy details
  • Support and guidance from experienced claims specialists and customer service representatives
  • Wellness and recovery programs to help customers cope with their health challenges and return to work.
  • Additional services and discounts on health, travel, legal, and financial products and services

Unum Insurance Company Address

Unum Insurance Company is headquartered in Chattanooga, Tennessee

It has 41 office locations across the United States and the United Kingdom.

The main address of Unum Insurance Company is:

Unum Group 1 Fountain Square Chattanooga, TN 37402 USA

The phone number of Unum Insurance Company is +1 866-679-30548.

Unum Login

Unum Login is an online portal that allows customers to access their Unum accounts and manage their benefits.

Customers can use the Unum login to:

  • File and track claims and leaves.
  • Request a direct deposit of claim payments.
  • Update personal and contact information.
  • Upload documents and medical records.
  • Add or update medical providers.
  • View policy documents and annual W-2 information.

To use the Unum login, customers need to register for an account on the Unum website or the MyUnum for Members mobile app.

Customers need to provide their name, email, phone number, date of birth, and policy number to create an account.

Customers also need to agree to the terms of use and the privacy notice and verify their identity with a passcode.

Unum Insurance Company Ratings

Unum Insurance Company ratings are evaluations of the company’s financial strength, creditworthiness, and performance by independent rating agencies.

The company ratings reflect the company’s ability to meet its obligations to its policyholders, creditors, and investors.

Some of the rating agencies that rate Unum Insurance Company are:

  • Standard & Poor’s (S&P), which rates Unum’s long-term issuer credit rating as BBB (outlook stable) and its financial strength rating as A (outlook stable),
  • Moody’s, which rates Unum’s senior unsecured debt rating as Baa3 (outlook negative) and its insurance financial strength rating as A3 (outlook negative),
  • Fitch Ratings, which rates Unum’s long-term issuer default rating as BBB (outlook stable) and its insurer financial strength rating as A- (outlook stable),
  • A.M. Best, which rates Unum’s long-term issuer credit rating as bbb and its financial strength rating as A (outlook stable),

Conclusion

Unum Insurance Company is a legit and reputable company that has been providing insurance products and services for over 170 years.

However, Unum Insurance Company has also faced some challenges and controversies, such as:

  • lawsuits
  • complaints
  • data breaches

The challenges have tarnished its reputation and customer satisfaction.

Unum Insurance Company claims that it is committed to improving its products, services, and customer support and to providing financial protection and peace of mind to its customers.

Unum Insurance Company ratings are generally positive and stable, indicating that the company has a strong financial position and performance.

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