UnumProvident in Chattanooga, Tenn., has announced a group long-term-care product that can help preserve the assets of employees and their families from the financial effects of illness and injury.
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The new product is to begin being offered next month, the company said on Thursday.
Group long-term-care coverage offers employers two policy options - indemnity or reimbursement. Indemnity policies can pay a benefit up to a maximum amount specified in the policy, regardless of expenses incurred. Reimbursement policies pay only for an individual's actual expenses, up to a maximum amount specified in the policy.
