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Aflac

Aflac Incorporated is currently the largest provider of supplemental insurance in the US. The company underwrites a range of insurance policies, but it is most known for its payroll deduction insurance coverage, which consists in cash payments as benefits when a policyholder has a covered accident or illness.

Aflac Incorporated is also very big on other parts of the world, such as Japan, where it is the second largest insurer overall and the largest life insure. Aflac’s mission is to combine innovative strategic marketing with quality products and services at competitive prices to provide the best insurance value for consumers.

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About Aflac

Aflac is a Fortune 500 company, founded by brothers John, Paul and Bill Amos founded in 1955. Aflac Incorporated is an international holding company based in Columbus, Georgia. Aflac has the largest on-site child-care facilities in Georgia: Imagination Station and Imagination Station Too. Together, the facilities have capacity for 621 children.

Since the 1980s, Aflac has added many new insurance policies, including accident, short-term disability, hospital intensive care, hospital confinement indemnity, long-term care, lump sum cancer, lump sum critical illness, specified health event, life, dental and vision.

Aflac, Inc.

Corporate Headquarters:
932 Wynnton Road
Columbus, Georgia
31999.
CEO:
Daniel Amos
Licensed Agents:
74,300 licensed agents
2008 Revenue:
More than $16.5 billion

Product Types Offered

Individuals

Aflac offers Health Products for individuals, families and sole proprietors under the age of 65 and not eligible for Medicare. All of their policies–from accident/disability to vision–offer direct-to-the-policyholder cash payouts to help cover what other insurance doesn’t.

Laws in your state of residence will determine benefit offerings. Not all policies or benefits are available in all states. For more information concerning benefits, costs, limitations and exclusions, you can contact a local Aflac agent.

Aflac policies cover just about any need, including:

  • Accident
  • Cancer/Specified Disease
  • Dental
  • Hospital Confinement Indemnity
  • Hospital Confinement Sickness Indemnity
  • Hospital Intensive Care
  • Life
  • Long-Term Care
  • Lump Sum Cancer
  • Lump Sum Critical Illness
  • Short-Term Disability
  • Specified Health Event
  • Vision

Employers

Aflac offers plans for three basic employer groups: plans for Small Businesses (0-99 employees), plans for Mid-Size Businesses (100-999 employees), and Large Bussinesses (1000+ employees). Aflac helps create a more attractive employee package, at no direct cost.

You can choose from a wide range of insurance policies that can help your employees with health events—from accidents, to intensive care, to life insurance. Your employees enjoy benefits from Aflac, all employee-paid.

There are the policies offered for all Businesses:

  • Accident
  • Cancer/Specified-Disease
  • Dental
  • Hospital Confinement Indemnity
  • Hospital Confinement Sickness Indemnity
  • Hospital Intensive Care
  • Life
  • Long-Term Care
  • Lump Sum Cancer
  • Lump Sum Critical Illness
  • Short-Term Disability
  • Specified Health Event
  • Vision
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Provider Network

One of the main differences and features of Aflac is that it has no provider network. The Aflac policy does not coordinate with other insurance and they pay a flat benefit amount, regardless of what the patient is billed. Any payment received, exceeding the amount of the bill, should be provided to the patient. Aflac's plans are designed to allow for an easier claim payment process, allowing to maintain fast turnaround times for claim payments.

Recent News

Here are some of the most recent news regarding Aflac:

Aflac Lands on Black Enterprise Magazine's List of 40 Best Companies for Diversity

COLUMBUS, Ga., June 23 /PRNewswire/ -- Aflac today announced that it has been named to Black Enterprise magazine's list of the Top 40 Best Companies for Diversity. It is the fifth consecutive year the company has been named to the prestigious list.

"Our commitment to diversity has created an environment where wide-ranging ideas have helped our company grow," Aflac chairman and CEO Dan Amos said. "We embrace the good fortune of a diverse workforce and are proud of this recognition by Black Enterprise's magazine." (Continue Reading)

Rating

Aflac’s rating, as rated by A.M. Best Company. A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors.

Financial Strength Rating
Lowest Rating: --
Highest Rating: --
Outlook/Implication: Not Applicable

Issuer Credit Rating
Long-Term: a-
Outlook/Implication: Stable

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