UnumProvident helps millions of people protect their incomes through disability, supplemental health, accident, long term care and life insurance.
UnumProvident is the industry leader in disability income protection and one of the top providers of supplemental benefits in the nation. The company serves 25 million insured policyholders worldwide including 171,000 businesses in the U.S. and U.K. and 42 percent of Fortune 500 companies.
The company's major subsidiaries include:
Unum US - division that provides innovative employee benefits and is the market leader in providing disability and long term care insurance in the U.S.
Unum UK - leveraging its market leadership in income protection by guiding the effort in the U.K. of educating companies and their workers about the value of employee benefits.
Colonial Life - combines state-of-the-art benefits education and enrollment services as the premier provider of voluntary worksite benefits in the U.S.
In 2007, UnumProvident paid more than $6 billion in total benefits. Total revenue was $10.5 billion and the company reported net income of $679 million.
The company was originally founded in 1848 when Union Mutual is charted in Maine and sets up its headquarters in Boston. The first policy is issued the following year for $5,000 in life insurance.
In 1986, Union Mutual changes its name to Unum.
UnumProvident was formed by the mergers of the Unum Corporation and Provident Companies on June 30, 1999.
In 2007, UnumProvident Corporation changes its name to Unum Group, with three primary divisions: Unum US, Unum UK and Colonial Life.
* 401(k) retirement plan
Core life and health benefits
* Medical insurance
* Health coaching
* Paid time off
Updated January 18, 2009