To help provide relief for California policyholders residing in Ventura and San Diego Counties affected by the winter storms, Aflac will provide a premium grace period starting Jan. 22, 2024, and ending Mar. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
To help provide relief for California policyholders residing in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending Apr. 4, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
To help provide relief for California policyholders residing in Alameda, Butte, Glenn, Lake, Mendocino, Monterey, Sacramento, San Francisco, Santa Cruz, Sonoma, and Sutter Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending May 21, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
On Feb. 21, 2024, the cyber event reported by Change Healthcare, a company that assists healthcare providers with claims submissions and payments, has created a significant impact to health care providers, including hospitals, individual practitioners, practice groups, diagnostic centers, laboratories, and pharmacies. We have determined Aflac’s primary operations are not impacted. Further, Aflac and its subsidiaries do not have any direct connection to Change Healthcare systems in any of Aflac’s systems or applications. At this time, we are not aware of any impact to customer data but we are monitoring for any communications from our critical third-party suppliers. While Change Healthcare’s cyber event was not directed at Aflac, we will provide flexibility with claims submissions related to this incident should it be needed. If you believe you have a claim impacted by Change Healthcare’s event, please contact Aflac at 800-992-3522.
Affordable life insurance with living benefits and stable rates that will not change for life*
COLUMBUS, Ga., July 25, 2023 /PRNewswire/ -- Chronic diseases are the leading causes of illness, disability and death in the U.S., according to the Centers for Disease Control and Prevention.1 Addressing the need for better options for Life Insurance, Aflac, a leading provider of supplemental health insurance products in the U.S., announced today the launch of a new product, Aflac Group Life Term to 120, to provide worksite life insurance with flexible living benefits and affordable rates that won't increase across employees' lifespans.
"Most life insurance is either unaffordable for the average household or does not provide benefits for the living, which results in the lack of financial protection," explains Virgil Miller, president, Aflac U.S. "Aflac's new group life product is designed to stand in the gap by providing affordable and stable pricing as well as flexible living benefits to age 120, in order to guarantee employees will not outlive their coverage."
Many expenses accumulate at the end of life, with the average costs for an individual reaching over $96,000 annually,2 and many people do not have sufficient savings to cover those costs — not to mention financial protection for loved ones when a wage earner passes away.3
"This product is particularly unique when it comes to flexible living benefits," explained Bob Ruff, senior vice president, Aflac Group Voluntary Benefits. "Aflac's Term Life to 120 product is designed so that it is easy to use whenever it's needed. Whether that is needing benefits for potential home modifications related to a health condition, health care or final expenses, our customers can be assured that they will have financial protection in their time of need."
Aflac Group Term to 120 offers more than the typical life insurance with:
For more information visit Aflac.com/business.
*Aflac's Group Term to 120 product defines a lifetime as up to 120 years of age to guarantee individuals do not outlive their coverage.
ABOUT AFLAC INCORPORATED
Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for more than 67 years to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products.4 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance policies in force. In 2021, the company became a signatory of the Principles for Responsible Investment (PRI). In 2022, the company was included in the Dow Jones Sustainability North America Index for the ninth year, the World's Most Ethical Companies by Ethisphere for the 17th consecutive year, Fortune's World's Most Admired Companies for the 22nd time and Bloomberg's Gender-Equality Index for the fourth consecutive year. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated and its commitment to corporate social responsibility and sustainability at investors.aflac.com under "Sustainability."
Media contact: Jon Sullivan, 706-763-4813 or jsullivan@aflac.com
Analyst and investor contact: David A. Young, 706-596-3264, 800-235-2667 or dyoung@aflac.com
1Centers for Disease Control and Prevention (2023). Health and Economic Benefits of Chronic Disease Interventions | CDC. Accessed on March 27, 2023 from https://www.cdc.gov/chronicdisease/programs-impact/pop/index.htm.
2CNBC (2023). What is long-term insurance? Accessed on May 5, 2023 from https://www.cnbc.com/select/what-is-long-term-care-insurance/.
3LIMRA 2021 Facts About Life 2021. Accessed on March 15, 2023 from https://www.limra.com/siteassets/newsroom/fact-tank/fact-sheets/facts-of-life-2021-format-vfinal.pdf.
4 LIMRA 2021 US Supplemental Health Insurance Total Market Report.
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SOURCE Aflac
