Aflac Launching Latest Lump Sum Critical Illness Insurance, Finding New Ways to Reach Patients in Need

Aflac expands distribution to make policy available to more people working in nontraditional settings

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Nov 12, 2018, 08:01 ET

COLUMBUS, Ga., Nov. 12, 2018 /PRNewswire/ -- Aflac, the leader in voluntary insurance sales at the worksite in the United States, announced today the initial launch of its latest lump sum critical illness insurance policy, which has been redesigned to include new riders and a wider range of benefits to offer a holistic approach to recovery and care.

With the latest lump sum critical illness insurance policy, Aflac is expanding its direct-to-consumer portfolio, further opening up the voluntary insurance market to millions of Americans by expanding the way consumers can access benefits. Other Aflac plans available directly for consumers to apply for include cancer, accident, life, dental and specified health event, with more planned for 2019. As more American workers build careers outside of the traditional workplace as freelancers, contractors, self-employed solopreneurs and in startups, Aflac is making more and more plans available to everyone, no matter where or how they work.

"At Aflac, we believe everyone deserves care and coverage," said Wendy Herndon, second vice president of Product Development and Implementation at Aflac. "As the market evolves, we remain committed to finding new ways to meet the needs of our current customers while also reaching consumers across the nation. We're thrilled to offer Aflac agents a competitive critical illness policy that enables them to sell where potential customers may be."

Aflac's latest lump sum critical illness plan offers competitive coverage, with benefits for up to nine conditions when paired with Aflac's cancer protection assurance policy. Highlights of the plan include:

Lump sum payment upon diagnosis, allowing policyholders to focus on recuperation;
Building benefit, which means the policy increases every year for up to 10 years, to be paid out when policyholders need it most;
Hospitalization Rider, providing additional benefits to help policyholders with everything from ambulance costs to physical therapy, easing the financial stress often associated with an unexpected illness;
New Event Recovery Rider, paying a lump sum benefit for up to three months to help cover expenses from being out of work.

The newest critical illness policy is currently available in the following states: Alabama, Delaware, Georgia, Iowa, Indiana, Mississippi, Nebraska, South Carolina and Wisconsin. Additional states and territories are scheduled to have the policy available by the end of the year, including: Alaska, D.C., Guam, Hawaii, Kansas, Louisiana, Montana, North Dakota, Vermont and West Virginia. Remaining states will follow in 2019.

To learn more, visit Aflac.com.

Coverage is underwritten by American Family Life Assurance Company of Columbus. WWHQ | 1932 Wynnton Road | Columbus, GA 31999

About Aflac
When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For more than six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the leader in voluntary insurance sales at the worksite. Through its trailblazing One Day Pay^SM initiative, for eligible claims, Aflac U.S. can process, approve and electronically send funds to claimants for quick access to cash in just one business day. In Japan, Aflac is the leading provider of medical and cancer insurance and insures 1 in 4 households. Aflac insurance products help provide protection to more than 50 million people worldwide. For 12 consecutive years, Aflac has been recognized by Ethisphere as one of the World's Most Ethical Companies. In 2018, Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for the 20th consecutive year and included Aflac on its list of World's Most Admired Companies for the 17th time. Aflac Incorporated is a Fortune 500 company listed on the New York Stock Exchange under the symbol AFL. To find out more about Aflac and One Day Pay^SM, visit aflac.com or aflac.com/espanol.

Media contact – Kristen Fraser, 706.580.3813 or [email protected]

Analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667, FAX 706.324.6330, or [email protected]

SOURCE Aflac