Unum Affiliates Extends Hospital Confinement Line

Colonial Life is selling a version of the product that is compatible with health savings accounts.

The company is offering an employer a choice of a simply underwriting approach with few participation requirements; “standard guaranteed issue” underwriting, which makes coverage available to all employees if participation requirements are met; and “guaranteed issue with waiver of pre-existing conditions,” which allows all employees and conditions to be covered, regardless of health, if more rigorous participation requirements are met.

The product comes with level, age-banded rates, and there are no increases when employees move to a new age band, Colonial Life says.