Whole Life Insurance
Unum’s whole life policy provides permanent life insurance protection and once you have bought the coverage, your cost won’t increase as you age. The benefit amount stays the same too, during your working years and into retirement.
Whole life insurance also builds cash value at a guaranteed interest rate, and you can borrow from the cash value or buy a smaller, paid-up policy with no more premiums due.
Employee: $10,000 to $250,000 in $10,000 increments
Spouse: $10,000 to $50,000 in $10,000 increments
- Employee coverage required
Child(ren): $10,000 or $20,000
- Not to exceed 100% of employee amount
Plan Provisions
- The benefits reduce at the later of age 70 or 25 years.
- The vesting period for cash value is 10 years and earns interest at 4.5%.
- The plan includes an accelerated death benefit, or a living benefit for diagnosis with a terminal illness.
- Employees and spouses up to age 75 are eligible to enroll.
- Permanent life insurance protection for your whole life.
- Premiums are based on rates for your age at the time you elect the policy and never increase.
- Waiver of premium is included in the event of total disability.
- Enroll when initially eligible, and you may then increase coverage up to $100,000 for yourself and $30,000 for your spouse at subsequent Open Enrollments with no health questions.
Definition of Eligible Child
"Child" means any child (from live birth) to age 26 who is:
- Your own natural offspring;
- Your Spouse's child;
- Your legally adopted Child or a child who is lawfully placed with you for legal adoption by you;
- A foster Child placed with you by an authorized placement agency or by judgment, decree or other order of any court of competent jurisdiction.
Coverage for Child may be continued past age 26 if the Child is incapable of self-sustaining employment due to permanent intellectual or physical incapacity prior to reaching age 26 and is dependent upon you for support and maintenance.
Premium Examples - Employee
| Non-Tobacco | $25,000 | $50,000 |
| Age 25 | $15.85 | $31.70 |
| Age 35 | $18.95 | $37.90 |
| Age 45 | $28.13 | $56.25 |
| Age 55 | $49.93 | $99.85 |
For Employees Who Have a Unum Whole Life Policy:
The new Unum whole life insurance plan, effective January 1, 2026, is not intended to replace the current policy. Employees with current Unum whole life coverage will retain your existing policies through payroll deduction. It is generally recommended that existing policies be retained because of the cash value accumulated. Employees with current whole life coverage are also eligible to elect coverage with the new plan. The new Unum whole life insurance plan is lower in cost than the existing whole life policies.
Current and New Unum Whole Life Policies
- Many employees have existing Unum policies in 2025.
- A new and additional Unum whole life plan will be offered for 2026.
- You may elect the new 2026 Unum whole life policy in addition to any existing whole life coverage you have.
- It is recommended that you retain any older Unum whole life policies that you may have.
- The new 2026 Unum whole life plan is not intended to replace your existing 2025 whole life coverage.
If you have questions about your current 2025 Unum whole life policy, please contact Unum at 800-858-6843.
