Unum Group launches new pet insurance

Unum Group launches new pet insurance | Insurance Business America

Benefits

Unum Group launches new pet insurance

The company shares the extent of coverage of the new offering

Benefits

By
Jonalyn Cueto

Unum Group has announced the launch of Unum Pet Insurance, a new voluntary benefit offering aimed at providing comprehensive coverage for pets. This addition to Unum’s portfolio of workplace benefits and services is in response to the growing demand for pet-related benefits among employees and aims to offer a holistic approach to family care.

Unum Pet Insurance will be provided by Nationwide, a pet insurance provider with over four decades of experience. It offers coverage for a variety of needs, including accidents, illnesses, wellness, and preventative care.

Tim Arnold, Unum Group’s executive vice president of voluntary benefits and president of Colonial Life, emphasized the evolving needs of today’s workforce.

“As workforce needs and employee expectations evolve, we must too. Employees want more than protection for themselves—they want to ensure their families are cared for as well. For many, pets are just as important as any other member of the household,” Arnold said. He noted that Unum Pet Insurance aligns with the company’s mission to support the working world through various life moments.

Comprehensive care for pets

The coverage offered by Unum Pet Insurance encompasses a broad range of services. These include:

Veterinarian access: Accepted at any licensed veterinarian, with mobile claims submission and digital payment options. Round-the-clock access to veterinary professionals.
Reimbursement choices: Options for 50% and 70% reimbursement depending on the plan.
Prescription discounts: Reduced costs on eligible pet medications at participating pharmacies.
Emergency boarding costs: Covers boarding fees if a household member is hospitalized due to illness or injury.
Optional wellness coverage: Covers non-accident and non-illness expenses.
Lost pet assistance: Pays for advertising and rewards to find a lost pet.
Mortality coverage: Covers euthanasia, cremation, burial, and the original cost of the pet.

See also AXA outlines performance in Q1

Unum Group highlighted that Nationwide was the first company to offer pet insurance as a voluntary benefit through brokers and employee groups, and currently protects over 1.2 million pets. Melissa Lovely, vice president of sales for Nationwide pet insurance, pointed out the benefits for employers and employees alike. “Offering pet health insurance as a voluntary benefit is a win/win for employer and employee. It demonstrates that the company is invested in the wellbeing of the whole family, and it makes it easier and more affordable for employees to protect their beloved pets,” she said.

Unum Group, a Fortune 500 company, has a history spanning over 175 years, providing workplace benefits and services to support workers and their families. In 2023, the group reported revenues of more than $12 billion and paid approximately $8 billion in benefits. It was recognized as one of the World’s Most Ethical Companies by Ethisphere®.

Have something to say about this story? Leave a comment below.