WASHINGTON, Dec. 7, 2010 /PRNewswire/ -- It is estimated that nearly 3,000 Americans become disabled every hour -- that is 49 people every minute.(1) In these tough economic times, it is difficult for even the most skilled workers to find employment and make ends meet. Being sidelined due to injury or illness makes that challenge even greater. The Union Labor Life Insurance Company, a wholly-owned subsidiary of Ullico Inc., is helping to alleviate that economic uncertainty with its Group Long-Term Disability insurance offering.
The mission of Union Labor Life has always been to provide the best and most comprehensive insurance solutions for the country's unionized work force. With broad expertise in insurance products as well as a thorough understanding of unions and their unique needs, Union Labor Life is an industry leader in offering insurance products and services that meet the needs of union members and their employers.
"According to the Social Security Administration, three out of 10 Americans who are entering the workforce today will become disabled in some capacity before they retire," said Denise Olivares, Vice President, Marketing and Product Development. "That's approximately a third of the workforce. With numbers that high, it is critical that we continue to develop solutions that help the union work force in a variety of different ways, including disability insurance."
Union Labor Life's Group Long-Term Disability insurance provides many features that allow employers to tailor the product to fit their group's needs. Some of these features include benefit amounts that start at 50 percent, benefit periods ranging from as low as two years all the way up to age 65 and compatibility with return-to-work programs. Policies can be designed to integrate with Social Security and Workers Compensation; in some cases, rates may be guaranteed for up to two years. This policy is currently offered in 14 states and the District of Columbia.(2)
"With a reputation that has been built from more than 80 years of experience serving the union market, Union Labor Life understands how important flexibility is in meeting the distinctive needs of labor," said Larry Paradise, Vice President of Sales. "Our expertise, knowledge and financial strength are highly trusted throughout the industry."
About Ullico Inc.
Ullico Inc. is a $5.5 billion insurance and financial services holding company whose subsidiary companies include The Union Labor Life Insurance Company; Ullico Investment Advisors, Inc.; Ullico Investment Company; Ullico Casualty Company; and Ullico Casualty Group, Inc. For additional information, visit www.ullico.com.
(1) National Safety Council, Injury Facts 2008 Ed.
(2) Currently available in AK, AL, AZ, CO, CT, DC, GA, MA, NJ, NM, NV, NY, PA, SC and TN
SOURCE ULLICO Inc.