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 Cheapest Life Insurance USA

Colonial Life and Accident - Life Insurance

About Colonial Life and Accident

Colonial Life and Accident has more than 2 million policies in force and serves more than 40,000 businesses and organizations. Colonial has also helped more than 30,000 employers implement flexible benefits plans.1

Colonial Companies, Inc., the parent company of Colonial Life & Accident Insurance Company, merged with Unum Corporation in 1993. On June 30, 1999, Unum Corporation and Provident Companies, Inc., merged to form UnumProvident Corporation, which through its subsidiaries is the world leader2 in income protection and complementary coverages. Marketing under the Unum brand, UnumProvident Corporation combines the individual income protection and return-to-work expertise of Provident and Unum's leadership in group disability and other specialty coverages. UnumProvident Corporation offers expanded distribution, greater benefits expertise and comprehensive products and services to a broad range of individual and corporate customers in markets around the world.

Colonial Tops Disability Ranking
Colonial Life & Accident Insurance Company is number one in the country for individual guaranteed renewable disability insurance total net premiums written. This marks the fourth consecutive year that Colonial achieved the top spot in the category, which is based on Colonial's net premiums written on disability income products known as Lifestyle Protection Series and Lifestyle Protection categories. Colonial is also the third largest insurer of individual dread disease and the sixth largest insurer of individual guaranteed renewable accident and health.

Colonial Life and Accident continue to uphold their traditions of highest ethical standards of business conduct, dedication to providing quality products and service to their policyholders, and concern and respect for their employees and sales organization. Colonial Life and Accident do this by putting people first in everything they do: the way they serve their customers, treat their employees and sales organization, and support the community.

  • SOURCE: Colonial Life & Accident Insurance Company corporate records as of December 31, 1999.
  • Includes the #1 group disability carrier and the #1 individual income protection carrier in the United States and Canada, according to Employee Benefit Plan Review (EBPR), May 2000, and A.M. Best 1998.
  • These rankings are based on A.M. Best's Sales Studies: Health Sales Results, 2000 Edition. These studies rank net premiums written on both group and individual products.

Community Involvement - From the Heart

"From the Heart" is the name Colonial Life and Accident chose for its employee volunteer program. It could also describe their overall corporate community involvement program, including individual and corporate volunteerism, and financial support for more than 50 organizations and projects annually. Colonial's corporate giving mission is to be a good corporate citizen: to be part of the community and to help resolve social and economic problems. Colonial helps fund:

  • Local ballet, symphony and museums.
  • Teacher training and development programs.
  • College scholarships.
  • Homeless shelters.
  • AIDS and drug abuse education projects.
  • Child abuse prevention projects.
  • Elder-care projects.
  • K-12 mentoring programs.
  • Dollars for Hours

Colonial Life and Accident also encourages employees to get directly involved and contribute their time, experience and hearts. Colonial Life and Accident help employees find compatible opportunities for volunteering and match their volunteer time with grants to nonprofit organizations of their choice.

Colonial Life and Accident - Life Insurance

Individual Term Life Insurance

Colonial Life and Accident term life insurance plans combine the advantages of low-cost life insurance with the flexibility of individually-owned coverage. Premiums, coverage amounts and term periods vary depending on the employee's needs.

What this product can do for employers

  • Employers can increase the value of their employee benefits program with individually- owned term life insurance that provides coverage for employees and their families.
  • Employers can attract and retain the best employees when they offer benefits options that meet their employees' needs.
  • Employers can provide a more comprehensive benefits program at no additional cost.
  • Employers may use a term plan for key business needs, such as offering life insurance to a key employee or protecting a business loan.
  • These plans will not replace any other existing life insurance plan included in their employee benefits program.

What this product can do for employees

  • Employees can own large amounts of term life insurance coverage for relatively low premiums.
  • Employees can protect themselves and their families with the amount of coverage they need for the specific period of time they need it.
  • In the event of an insured employee's premature death, the beneficiary can use the term insurance benefits to pay for final expenses, provide financial security, repay debts or fund a child's education.

Important features

  • Employers do not have to meet participation requirements to offer this plan.
  • Employees may convert all or part of term insurance to permanent life insurance coverage with no additional underwriting.
  • Employees' coverage is guaranteed renewable, and they may keep the coverage at the same premium rate if they change jobs or retire.
  • Employees may purchase coverage for their spouses and dependent children.

P.O. Box 1365,
SC 29202-1365

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