Aflac, the leader in voluntary insurance sales at the worksite in the United States, announced the expansion of its Group Life portfolio, which will now include a new Universal Life Plan with Long-Term Care benefits and an enhanced Group Whole Life Plan. Brokers asked Aflac for a full suite of permanent life products, and Aflac responded. The new insurance offerings help brokers serve as a true one-stop resource for affordable voluntary benefits.

"With the expansion of our Group Life portfolio, we are broadening the scope of our voluntary solutions. Now brokers can offer a complete portfolio of benefits that include high guaranteed-issue limits so that our customers have the protection they need," said Stephanie Shields, vice president of Product Innovation and Marketing at Aflac. "We call it 'quality of life' insurance— whether the need is to pay off current bills and debt, cover funeral expenses, send children to college or create a scholarship in their loved one's name, life insurance is the tool to deliver peace of mind and financial stability for all employees."

Universal Life with Long-Term Care:

With eight optional riders, which include living benefits for long-term care, Universal Life is a comprehensive option to help shield every family from financial hardship if a spouse or loved one passes away. This insurance is fully portable and offers a maximum death benefit up to $300,000 along with living benefits, which can be utilized for long-term care, home health care, and adult day care or assisted living. The Universal Life accumulates cash value as it ages, which the insured can take as a partial surrender to withdraw funds or borrow money through a loan against the cash value. Other plan highlights include family coverage and employee guaranteed-issue options, which are available at a case level and vary by case size, industry and access to employees.

Many employees want to protect their families' futures with end-of-life benefits; however, an important health care benefit for families is long-term care. In fact, the average length of a stay for long-term care in the U.S. is three years, and the cost for this care can range from $200-$300 per day. With a steep price tag, it's more important than ever for employers to build long-term care into their benefits offerings to help provide a financial safety net for their employees during difficult times.

Aflac's Universal Life product is white-labeled under Trustmark Insurance Company as a pure distribution partnership. This allows Aflac to leverage its unmatched brand recognition in the marketplace while ensuring product administration and risk management are supported by a partner with a long-standing, successful reputation and experience in the product category.

"It is critical that we design product offerings to be more relevant and to provide holistic solutions to brokers and their customers," said Teresa White, president of Aflac U.S. "In order to do so, we continue to look for opportunities to partner on different products through private labeling and reinsurance, allowing us to bring together best-in-class expertise from our partners and the leading brand in the voluntary insurance industry."