Financial protection

Dad and boy

Understanding financial protection

Hear stories of our benefits at work and get up-to-date information on the latest ways you can prepare for your financial future.

Better benefits

Benefits that help you protect what matters most

Preparing for what’s ahead
At Unum and Colonial Life, our mission is to help protect people financially when they are injured or ill and need it most. And in today’s uncertain environment, financial protection benefits are more important than ever.

You can’t predict the future, but you can prepare for it.

A growing need
Financial protection benefits have become more important as financial foundations have shifted, government resources have been strained, and costs have climbed. When people need them most, benefits such as disability, accident, critical illness and life insurance protect against financial hardships that can derail their stability.

Preparing and protecting
Few people understand that the average worker has a one in three chance of becoming disabled by injury or illness for six months or more during his or her working life.1 Most of us are unprepared for the consequences of losing an income, even for a short period of time. In fact, 40 percent of working Americans live paycheck-to-paycheck.2 Half of all households could not raise $2,000 in a month if they needed to.3

Political pressures
The most widespread income protections – workers’ compensation, government programs or personal savings – are useful but often insufficient. The average Social Security Disability insurance benefit is only $1,100 a month, and is reserved for disabilities expected to last for at least a year.4 In addition, government programs in the U.S. and U.K are under intense financial pressure. Individuals will need to be more responsible for their own protection.

The value of benefits
Unum benefits can play a major role in addressing the growing need for financial protection for families and individuals, and in taking the pressure off government resources. Private disability benefits save U.S. taxpayers up to $4.5 billion a year and help as many as 575,000 families avoid impoverishment, according to research from Charles River Associates and Unum in 2011.

1 Charles River Associates. “Financial Security for Working Americans: An Economic Analysis of Insurance Products in Workplace Benefits Programs,” 2011, Prepared for Unum.
2 CareerBuilder.com, “Percentage of U.S. Workers Living Paycheck to Paycheck Reaches Recession-Era Low, Finds CareerBuilder Survey” (August 15, 2012; accessed Oct 30, 2012)
3 National Bureau of Economic Research Working Paper 17072, (2011). “Financially Fragile Households: Evidence and Implications,” by Lusardi, Annamarie, et. Al.
4 Social Security Fact Sheet, 2011.

Financial strength

With a strong foundation, Unum is well-positioned to help people develop a financial safety net.

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Unum in the US

We are a leader in offering financial protection benefits at the workplace. Visit our site to learn more.

Colonial Life logo 
Colonial Life

Colonial Life is protecting the financial stability of American workers. Visit our site to learn how.

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Unum in the UK

In the U.K., we’re helping workers ensure they have a financial back-up plan. Visit our site to learn more.

Starmount Life 
Starmount Life

Helping American workers protect their health with flexible, valuable dental and vision benefits. Visit our site to learn more.