Aflac expands Short Term Disability Insurance to include mental health care

Benefits help provide financial protection to employees when financial and emotional stressors arise

COLUMBUS, Ga., Oga. 18, 2022 /PRNewswire/ — Aflac, a leading U.S. health insurance provider, today announced the launch of Aflac Individual Short-Term Disability Insurance to help employers better support the needs of their key employees amid economic uncertainty and the challenges of chronic illness. . The company’s benefit protection insurance provides policyholders with a monthly income if mental illness or other covered injuries or illnesses make them unable to work.

According to the National Alliance on Mental Health, 21%, or about 53 million US adults, suffered from a mental illness in 2020, and 46% of adults with mental illness received treatment.1 He goes on to say that serious mental illness causes it $193.2 billion in lost profits every year.

“Today, many Americans are facing issues that in the past, may have received little attention, but due to this epidemic it is clear that mental health is a major concern for our customers,” said Aflac’s US Vice President. Virgil Miller. “That’s why Aflac is expanding its offerings in the mental health space to provide solutions to consumers who want to protect not only their health, but their emotional well-being.”

Aflac’s Individual Short-Term Disability product is an employee benefit that can help protect the health, financial and emotional health of employees. With a variety of options, employees can balance their needs with their budgets, so they can focus on recovery and return to work instead of financial stress.

“The conditions and causes of disability that prevent people from working and earning an income are more common than many people think,” he said. Kim Rudeen, Vice President, Aflac Product Development and Management. “When a disability prevents a person from earning enough money to support themselves, the increase in the amount of money they need can quickly destroy their income. In fact, one in three workers (36%) could not go more than a month without pay. , which is very difficult.”3

Highlights of Aflac’s short-term recommended products include:

  • Increasing number of disabilities caused by mental illness, including but not limited to schizophrenia, bipolar disorder, depression, anxiety disorders, eating disorders, post-traumatic stress disorder, drug and alcohol abuse.
  • Increased coverage without increasing premiums for policyholders.
  • Riders can choose to help increase financial security.

For more information visit Aflac.com/business.

History of AFLAC INCORPORATED

Aflac Incorporated Company Profile AFL) is a Fortune 500 company that helps protect more than 50 million people through its subsidiaries. Japan and the US, paying money quickly when policyholders get sick or injured. For more than sixty years, Aflac Incorporated insurance policies have given policyholders the opportunity to focus on recovery, not stress. In the US, Aflac is the number one health insurance provider.4 Aflac Life Insurance Japan is the leading medical and cancer insurance provider Japan, where it protects 1 in 4 homes. In 2021, Aflac Incorporated was proud to be included as one of the World’s Ethical Companies by Ethisphere for the 16th year in a row. Also in 2021, the company was included in the Dow Jones Sustainability North America Index and signed the Principles of Responsible Investment (PRI). In 2022, Aflac Incorporated was included on Fortune’s list of the World’s Most Admired Companies for the 21st time and Bloomberg’s Gender-Equality Index for the third year in a row. To find out how you can get help and expenses that health insurance does not cover, contact us at aflac.com or aflac.com/español. Investors can learn more about Aflac Incorporated and its commitment to ESG and social responsibility at invest.aflac.com under “Sustainability.”

Media contact: Jon Sullivan706-763-4813 or [email protected]

Expert and investor relations: David A. Young706-596-3264, 800-235-2667 or [email protected]

1 National Alliance on Mental Health (2022). Mental Health Statistics. Access July 20, 2022to https://www.nami.org/mhstats.
2Integrated Benefits Institute (2019). IBI Benchmarking Analytics Series: Which Identifies Drive STD Incidence, Cost and Lost Time? Access from https://f.hubspotusercontent10.net/hubfs/8926463/Resource%20Assets/Benchmarking%20Analytics/IBI-Benchmarking-Analytics-STD-condition-drivers.pdf.
3 Aflac (2021). 2021-2022 Aflac WorkForces Report. Access July 5, 2022to https://www.aflac.com/docs/awr/pdf/2021-overview/2021-aflac-awr-health-wellness-power-benefits.pdf
4 LIMRA 2021 US Supplemental Health Insurance Total Market Report.

Aflac Incorporated Company Profile