Unum, a provider of group and individual disability insurance products, has announced that it is reducing new business rates on its non-cancelable individual disability insurance which is designed for the executive benefits and professional markets.
The revision represents an aggregate decrease of approximately 11%. In addition, the company has introduced a low priced cost-of-living adjustment rider as well as optional pre-existing conditions riders.
The revised rates for policies are available in all states except California, Florida, Kansas, Ohio, Michigan, New York, Utah and West Virginia.
Steven Joseph, vice president of individual disability operations for Unum, said: We continuously review our products and their rates so that our customers are always offered the best options. We have made a strategic decision to focus primarily on multi-life employer solutions, and this has given the company rate flexibility which will improve our offering in our target market.