Fair value products for our customers

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment, as they are intended to provide similar cover and outcomes for customers, and the target markets are consistent other than for the minimum number of employees as described below. Where there is potential for a product variant to have a different impact on value, this has been considered within the review:

• Standard Employer Funded Policies.
• Pay Direct Policy: A policy which gives the option to pay basic benefit to a former employee after they have left service.
• Flexible Policies: Includes a core benefit funded by the employer with the option for employees to increase their cover.
• Simplicity Income Protection: An Income Protection policy with simplified options and administration.
• Policies arranged through a special agreement with one of our distributers or a bespoke policy with non-standard terms.
• Policies arranged through a special distribution or Introducer Appointed Representative (IAR) agreement.
• Policies arranged with Unum as local UK network partner of Generali Employee Benefits, a global employee benefits platform working with multinational corporations, including those in multinational pooling and captive arrangements.
• Policies previously insured with Generali UK and have opted to switch to Unum as part of the transfer of rate review rights of its employee benefits (Group Risk) business to Unum.

Overall value rating: Provides fair customer value.

Date published: 30 September 2025

1. Product description

Group Income Protection cover meets the demands and needs of an employer who wishes to provide financial support to their employees if they cannot work due to illness or injury beyond the period outlined in their policy (the deferred period), by paying a proportion of their salary as a monthly benefit.

Product features 

• Where appropriate Unum provides absence management support to help employees stay at work or return to work following illness or injury.
• The product allows employers the option to cover additional costs such as pension contributions and National Insurance Contributions.
• The employer can choose for the policy to provide additional lump sum benefits to be used at the policyholder’s discretion.
• Simplicity Income Protection provides a flat benefit of £12,000 p.a.
• Products distributed through IARs are typically marketed at a fixed price and a flat level of cover.
• Our Group Income Protection customers have immediate access to a range of value-added services (VAS) providing health and wellbeing support at no additional cost, including virtual GP appointments, mental health support and a fully integrated Employee Assistance Programme. 

Key exclusions

• Policies provide a non-medical limit to eligible employees, above which cover is subject to providing satisfactory medical evidence and may therefore be restricted as a result
• Initial lump sum benefits, where provided, are subject to a pre-existing conditions exclusion.

2. Target market

• The target market is employers with 3 or more employees based primarily in the UK who want to protect their employees’ incomes in the event they are unable to work due to accident or illness. 
  • An employee can be a permanent or fixed-term employee, a director, equity partner, member of a limited liability partnership (LLP) or a barrister who is a member of the set of chambers.
  • An employee who is based overseas must have a contract of employment with a UK resident employer.
• On occasion we will offer policies to employers with fewer than 3 employees under a special arrangement.
• Simplicity Income Protection is aimed at employers wishing to give a basic level of cover with simplified options and administration. The minimum number of lives for this product is 20.
• Flexible policies are available to employers with 250 or more eligible employees.
• Any special distribution or IAR agreements typically apply to policies covering between 3 and 100 employees.

We aim to have a balanced book of business insuring small, medium, and large employers. 

Generali UK and Generali Employee Benefits ‘GEB’ Network from 1^st August 2025

Unum joins the GEB Network as its new employee benefits provider in the UK market for Group Income Protection. This expands the target market for Unum Group Income Protection policies to UK employers of GEB Network multinational clients, including multinational pooling and captive clients. 

Generali UK transfers the rate review rights of its employee benefits (Group Risk) business to Unum. The transfer covers Group Income Protection. This means that Unum will quote, in place of Generali UK, when a Group Income Protection policy’s rate review is due.

Customer needs and goals

The policy meets the needs of employers who wish to: 

• Provide financial support to employees who are unable to work for a period of time due to illness or injury. 
• Have independent validation of employee absences. 
• Provide access to absence management services and in-work support for employees struggling to work due to illness or injury. 
• Promote employee health and wellbeing including providing access to employee assistance programmes and support services. 
• Provide an attractive employee benefits package to attract and retain staff. 

The policy may not be suitable for:

• Employers not based in the UK, or do not have a UK branch registered at Companies House.
• Employers with fewer than the required number of employees.
• Non-commercial customers (i.e. individual retail customers).
• Flexible policies are not available for equity partners, LLP members or barristers.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to request instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients. 
• Brokers can also review and service new or existing qualifying policies via UnumOnline.
• Unum may also engage with other partners and introducers on an IAR basis

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extend of the cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution, and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The policy meets a clearly defined need.
  • The customer can use the policy under the circumstances they expect.

This rating is based on metrics and data including:

• Customer feedback and research findings;
• Numbers and causes of complaints;
• Sales and persistency;
• Underwriting outcomes;
• Claims acceptance rates;
• Claims ratios;
• Broker remuneration and commission;
• Utilisation of Value-Added Services; and
• Performance against Service Level Agreements (SLAs).

Learn more about Group Income Protection

^{Help@hand from Unum services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services. The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to unum.co.uk/frequently-asked-questions/services.}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment, as they are intended to provide similar cover and outcomes for customers, and the target markets are consistent other than for the minimum number of employees as described below. Where there is potential for a product variant to have a different impact on value, this has been considered within the review:

• Standard Employer Funded Policies.
• Flexible Policies: Includes a core benefit funded by the employer and gives the employees the option to increase their cover.
• Spouse and Partner Cover: Allows employees to buy life insurance which pays them a lump sum if their spouse or partner dies.
• Simplicity Life: a life insurance policy with simplified options and administration.
• Dependants Pensions: Provide a pension for the member’s dependants on the death of a member.
• Voluntary policies arranged through our Benni distribution channel.
• Policies arranged through a special distribution or Introducer Appointed Representative ‘IAR’ agreement. 
• Policies arranged with Unum as local UK network partner of Generali Employee Benefits, a global employee benefits platform working with multinational corporations, including those in multinational pooling and captive arrangements.  
• Policies previously insured with Generali UK and have opted to switch to Unum as part of the transfer of rate review rights of its employee benefits (Group Risk) business to Unum. 

Overall value rating: Provides fair customer value.

Date published: 30 September 2025

1. Product description

The policy meets the demands and needs of an employer who wishes to provide a lump sum payment, either a multiple of salary or a fixed amount for a member’s dependants if the member dies.

Product features 

• Registered Group Life policies 'RGLPs' can insure schemes registered within the HMRC regulations for an occupational pension scheme. Alternatively, group life cover can be set up under the rules for an Excepted Group Life Policy ‘EGLP’. 
• The policy is held by trustees, who administer and maintain the trust, and distribute the proceeds to the member’s dependants. Unum offers a Master Trust for customers who do not have their own trust.  
• Voluntary policies arranged through our Benni distribution channel have a choice of five benefit amounts from £10k to £50k.
• Products distributed through IARs are typically marketed at a fixed price and a flat level of cover.
• Our Group Life customers have immediate access to a range of Value-Added Services 'VAS' providing health and wellbeing support at no additional cost including virtual GP appointments, mental health support and a fully integrated Employee Assistance Programme (EAP).
• Group Life customers have access to Cancer Assist¹ which offers in-the-moment guidance from an experienced team of client navigators who can help at any stage of the cancer journey.

Key exclusions

• Policies provide a non-medical limit to eligible employees, above which cover is subject to providing satisfactory medical evidence and may therefore be restricted as a result.
• There may be a requirement for employees to be actively at work at the start of cover.
• Policies have an overall maximum benefit limit for multiple claims as a result of a catastrophic or travel event.
• Cover is not provided for the death of a member as a result of, or during business travel to, a country or region where the Foreign Commonwealth and Development Office 'FCDO' advises against all travel.
• Pre-existing conditions and suicide exclusion apply to voluntary policies arranged through our Benni distribution channel. 

2. Target market

• The target market is employers with 3 or more employees based primarily in the UK who want to provide life cover for their employees. 
  • An employee can be a permanent or fixed-term employee, a director, equity partner, member of a limited liability partnership or a barrister who is a member of the set of chambers. 
  • An employee who is based overseas must have a contract of employment with a UK resident employer.
• On occasion, we will offer policies to employers with fewer than 3 employees under a special arrangement.
• Simplicity Life is aimed at employers wishing to give a basic level of life cover to their employees for the first time.
• Flexible policies are available to employers with 250 or more eligible employees.
• The minimum number of eligible employees for spouse and partner cover is 250 and the minimum membership is 50.
• Any special distribution or IAR agreements typically apply to policies covering between 3 – 100 employees.
• Voluntary policies arranged through our Benni distribution channel were available for employers with 50 or more employees, and closed to new customers in 2024.

We aim to have a balanced book of business across small, medium and large employers.  

Generali UK and Generali Employee Benefits ‘GEB’ Network from 1^st August 2025 

Unum joins the GEB Network as its new employee benefits provider in the UK market for Group Income Protection. This expands the target market for Unum Group Life policies to UK employers of GEB Network multinational clients, including multinational pooling and captive clients.

Generali UK transfers the rate review rights of its employee benefits (Group Risk) business to Unum. The transfer covers Group Life (including Group Dependants Cover). This means that Unum will quote, in place of Generali UK, when a Group Income Protection policy’s rate review is due.

Customer needs and goals

The product meets the needs of employers who wish to:

• Provide peace of mind to employees in the knowledge that their dependents will receive financial support in the event of their death.
• Provide death benefits to their employees in a tax efficient way.
• Utilise their own trust or have the benefits of a Master Trust to transfer the responsibility of managing their own trust 
• Offer flexible policies giving employees the opportunity to top up their own cover or choose to cover to pay in the event of the death of their spouse or partner.
• Promote employee health and wellbeing including providing access to employee assistance programmes and support services.
• Provide an attractive employee benefits package to attract and retain staff.

 

The policy may not be suitable for:

• Employers not based in the UK or without a UK branch registered at Companies House.
• Employers with fewer than the required number of employees.
• Non-commercial customers (i.e. individual retail customers).
• Flexible and Simplicity Life policies are not available for equity partners, LLP members or barristers.
• Simplicity Life is not available for certain high-risk industry types.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to request instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients. 
• Brokers can also review and service new or existing qualifying policies via UnumOnline.
• Unum may also engage with other partners and introducers on an IAR basis. 

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers are able to use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the policy under the circumstances they expect.

This rating is based on metrics and data including:

• Customer feedback and research findings;
• Numbers and causes of complaints;
• Sales and persistency;
• Underwriting outcomes;
• Claims acceptance rates;
• Claims ratios;
• Broker remuneration and commission;
• Utilisation of VAS; and
• Performance against service level agreements (SLAs).

Learn more about Group Life

^{Help@hand from Unum services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services. The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to unum.co.uk/frequently-asked-questions/services.} 

^{1 Cancer Assist (the ‘Service’) is provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Service. The Service is entirely separate from the insurance policy provided by Unum. Access to the Service is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Service at any time. Use of the Service is subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to frequently asked questions.}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment, as they are intended to provide similar cover and outcomes for customers, and the target markets are consistent (other than for the minimum number of employees as described below). Where there is potential for a product variant to have a different impact on value, this has been considered within the review:

• Standard Employer Funded Policies.
• Flexible policies: Includes a core benefit funded by the employer with the option for employees to increase or reduce their cover.
• Voluntary policies: Employees choose whether to join the policy and their level of cover within the limits set.
• Simplicity Critical Illness: Designed for employers with 50 or more employees who want to give a more basic level of Critical Illness Cover to their employees for the first time.
• Voluntary policies arranged through our Benni distribution channel: 
• Policies arranged through a special agreement with one of our distributers or a bespoke policy with non-standard terms.
• Policies arranged through a special distribution or Introducer Appointed Representative 'IAR' agreement.
• Policies arranged with Unum as local UK network partner of Generali Employee Benefits, a global employee benefits platform working with multinational corporations, including those in multinational pooling and captive arrangements.
• Policies previously insured with Generali UK and have opted to switch to Unum as part of the transfer of rate review rights of its employee benefits (Group Risk) business to Unum. 

Overall value rating: Provides fair customer value.

Date published: 30 September 2025

1. Product description

Group Critical Illness cover meets the demands and needs of an employer who wishes to provide a tax-free lump sum benefit if a member is diagnosed with one of the defined medical conditions or undergoes (or, where applicable, is placed on an official UK waiting list for) one of the surgical procedures covered under the policy.

For benefit to be payable:

• The condition or surgical procedure must meet the policy definition; and
• The member must survive for at least 14 days after the critical illness event.

Product features 

• Member’s children are automatically covered at no additional cost from birth until their 18th birthday (or 21st birthday if they are in full-time education).
  • Member’s children are provided with the same type of cover as the member and are covered for several children-specific critical illnesses.
  • Children’s benefit is 25% of the member’s benefit up to a maximum of £25,000.
• Provides the option of covering the spouses and/or partners of employees included in the policy for an additional cost.
• Offers a choice of base cover which insures against some of the most common critical illnesses, or a base and extra cover, which includes a number of additional conditions.
• Voluntary policies arranged through our Benni distribution channel have a choice of five benefit amounts from £10k to £50k.
• Simplicity Critical Illness provides a flat benefit of between £10k and £60k for 10 of the most common critical illnesses.
• For Simplicity Critical Illness, members’ medical histories will not prevent claims for events arising after they join.
• Products sold through special distribution IAR are typically sold at a fixed price and a flat level of cover.
• The product complies with the Association of British Insurers’ (ABI) Guide to Minimum Standards for Critical Illness Cover 2022 (updated April 2023).
• Our Group Critical Illness customers have immediate access to a range of Value-Added Services 'VAS' providing health and wellbeing support at no additional cost, including virtual GP appointments, mental health support and a fully integrated Employee Assistance Programme (EAP).
• Every employee (and their insured partner) covered by a Unum Group Critical Illness policy can access the cancer support service, which is provided by Reframe.¹ Those covered can contact Reframe as soon as they are diagnosed for immediate support.

Key exclusions

• A pre-existing conditions exclusion applies to members’ and children’s benefits up to the automatic entry limit.*
  • Where a member has experienced a critical illness before joining the policy, or when they have made a claim under the policy, other than for cancer – second and subsequent, they will not be able to claim for a recurrence of that condition or certain other critical illnesses. 
  • A member will not be able to claim for a critical illness where they were aware of, or being treated for, a related condition on or before cover started. Some related conditions are disregarded once the member has been covered under the policy for at least 2 years.
  • The pre-existing and related conditions exclusions apply:
    • From when the member joins the policy;
    • After a successful claim; and
    • To all increases in benefit that are not related to an increase in salary. 

^{* For Simplicity Critical Illness, claims for conditions arising after a member join will not be affected by their medical history, as a pre-existing condition exclusion does not apply}

2. Target market

• The target market is employers with 3 or more employees based primarily in the UK who want to provide Critical Illness Cover for their employees.  
  • An employee can be a permanent or fixed-term employee, a director, equity partner or a member of a limited liability partnership (LLP).
  • An employee who is based overseas must have a contract of employment with a UK resident employer.
• On occasion we will offer policies to employers with fewer than 3 employees under a special arrangement. 
• Flexible and voluntary policies are available to employers with a minimum of 150 eligible employees.
• Voluntary policies arranged through our Benni distribution channel were available for employers with 50 or more employees and closed to new customers in 2024. 
• Simplicity Critical Illness is available for employers with 50 or more employees.
• Any special distribution or Introducer Appointed Representative (IAR) agreements typically apply to policies covering between 3 and 100 employees.

We aim to have a balanced book of business insuring small, medium and large employers.

Generali UK and Generali Employee Benefits ‘GEB’ Network from 1^st August 2025

Unum joins the GEB Network as its new employee benefits provider in the UK market for Group Income Protection. This expands the target market for Unum Group Critical Illness policies to UK employers of GEB Network multinational clients, including multinational pooling and captive clients.

Generali UK transfers the rate review rights of its employee benefits (Group Risk) business to Unum. The transfer covers Group Critical Illness. This means that Unum will quote, in place of Generali UK, when a Group Income Protection policy’s rate review is due.

Customer needs and goals

The policy meets the needs of employers who wish to:

• Provide financial support to their employees in the event they or their children suffer one of the defined list of illnesses or undergo one of the covered surgical procedures.
• Offer employees the opportunity to top up their own over or choose cover to pay in the event of their spouse or partner suffering a critical illness event.
• Promote employee health and wellbeing including providing access to employee assistance programmes and support services.
• Provide an attractive employee benefits package to attract and retain staff.

The policy may not be suitable for:

• Employers not based in the UK or without a UK branch registered at Companies House. 
• Employers with fewer than the required number of employees.
• Non-commercial customers (i.e. individual retail customers).
• Flexible policies are not available for equity partners or LLP members.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum’s Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to request instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients. 
• Brokers can also review and service new or existing qualifying policies via UnumOnline.
• Unum may also engage with other partners and introducers on an IAR basis. 

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The policy meets a clearly defined real need.
  • The customer can use the policy under the circumstances they expect.

This rating is based on metrics and data including:

• Customer feedback and research findings
• Numbers and causes of complaints
• Sales and persistency
• Underwriting outcomes
• Claims acceptance rates
• Claims ratios
• Broker remuneration and commission
• Utilisation of Value-Added Services
• Performance against Service Level Agreements 'SLAs'.

Find out more about Critical Illness

^{Help@hand from Unum services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services. The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to unum.co.uk/frequently-asked-questions/services.}

^{1 Cancer Support Service (the ‘Service’) is provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Service. The Service is entirely separate from the insurance policy provided by Unum. Access to the Service is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Service at any time. Use of the Service is subject to the terms and conditions of the relevant third-party specialist providers. Service is available to UK residents only. For further information, please go to frequently asked questions}

^{2 For Simplicity Critical Illness, members’ medical histories will not prevent claims for events arising after they join.}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

Health Plan 360 is a new health cash plan product from Unum and is being assessed as a standalone product. 

The following policy types have been grouped together for the purposes of this assessment, as they are intended to provide similar cover and outcomes for customers, and the target markets are consistent other than for the minimum number of employees as described below:

• Standard Employer Funded Policies.
• Flexible Policies: Employees may choose to increase cover provided by their Employer or add a partner at their own cost within the limits set.
• Voluntary Policies: Employees choose whether to join the policy, their level of cover and whether to add a partner within the limits set. 
• Policies arranged through a special agreement with one of our distributors or a bespoke policy with non-standard terms. 

Where there is potential for a product variant to have a different impact on value, this has been considered within the review.

This is a forward-looking fair value assessment based on research, customer feedback, and market-based assumptions. 

Overall value rating: Expected to provide fair customer value.

Date published: 30 September 2025

1. Product description

Health Plan 360 is designed to provide cover towards the cost of everyday healthcare such as dental and optical treatment, physiotherapy and complementary therapies, as well as consultation fees and prescription charges for employees and their families. The policy also provides access to a range of wellbeing services such as a 24/7 remote GP service and personalised mental health support, provided by third party(ies).

Product features 

• Up to 3 levels of cover with increasing amounts of benefit towards eligible healthcare costs within each benefit category, except for Hospital stays which provides a fixed amount across all 3 levels of cover. 
• Additional levels of cover may be made available under special distribution arrangements or a bespoke policy with non-standard terms.
• Eligible costs will be paid in full (100% reimbursement) up to a per policy year limit shown in the benefit table for the relevant benefit category.
• Insured treatment benefits include:
  • Routine dental treatment 
  • Worldwide accident and emergency dental treatment
  • Optical and hearing cover
  • Chiropody and podiatry
  • Specialist consultations and diagnostics
  • Hospital stays (including parental stays)
  • National health Service (NHS) and private prescriptions, vaccinations and General Practitioner (GP) referral letters
• Proactive wellbeing services include:
  • Cancer screening assessments
  • Physiotherapy and complementary therapies
  • Health assessment
  • Nutrition consultations
  • Personalised mental health support
  • Unlimited remote GP appointments
  • Healthcare navigator including second medical opinion
  • Retail discounts and savings
  • 24/7 helpline and wellbeing resources
• Optional benefits:
  • Physiotherapy and complementary therapies (benefit pot)
  • Private Medical Insurance (PMI) excess cover
  • Critical Illness Cover (covering diagnosis of cancer – excluding less advanced cases, heart attack – of specified severity, or stroke – resulting in permanent symptoms) 
  • New Child Cover
  • Personal trainer
• The policy may be customised within set parameters including the increasing or decreasing of select benefit amounts and the removal of benefits and proactive wellbeing services. Customisation is managed as part of the quote request.
• For an additional cost, cover may be extended to the employee’s partner. However, there is no additional cost to add child dependants to the policy.
• The benefits listed in the table apply per insured adult. Where the benefit is provided for children, the maximum amount shown is shared among all children insured under the policy unless under special distribution arrangements or a bespoke policy with non-standard terms. This means that if more than one child is insured and a claim is paid for the full amount of the entitlement, there is no remaining benefit for the remainder of the policy year for any of the other insured children.

Key exclusions

The policy will not cover any claims made for the following:

• Treatment or costs incurred before cover under the policy started, or after cover ends.
• Costs in excess of the maximum benefit limits set by the policy.
• Fees, charges, or costs for:
  • Insurance premiums
  • Administration such as filling in a form or providing information for a claim. This does not apply to claims made under the Optional Critical Illness Cover
  • Joining or registering for a treatment
  • Travelling and accommodation to receive treatment
  • Missed appointments
  • Postage and packing.
• Treatment received from: 
  • Non-qualified professionals 
  • Trainees (even when supervised by a qualified professional)
  • A member’s or eligible partner’s immediate family, parent, sibling, partner, or a friend.
• Treatment received at a business that the member owns.
• Treatment or services received outside of the UK, except for Worldwide Dental Accident and Emergency Treatment, and Optional Critical Illness cover.
• Cosmetic or whitening treatments under the routine dental treatment benefit.
• Hospital stays where the stay is related to a pre-existing condition from the 12 months before the start of cover.
• Diagnosis of a critical illness that is not cancer – excluding less advanced cases, heart attack – of specified severity, or stroke – resulting in permanent symptoms.
• An eligible critical illness event which occurs during the qualifying period of 180 days for cancer – excluding less advanced cases, and 90 days for a heart attack – of specified severity and stroke – resulting in permanent symptoms, starting from the date the member joins the policy in their first year of cover
• Treatment arranged or provided by an employer.

2. Target market

• The target market is employers with 4 or more employees based primarily in the UK who want to provide their employees access to financial support for everyday healthcare costs. 
  • An employee can be a permanent or fixed-term employee, including executive directors, who hold a UK contract of employment.
• On occasion we will offer policies to employers with fewer than 4 employees under a special arrangement.
• For employer-funded flexible upgrade policies, the minimum number of employees is 20. 
• We will consider Voluntary policies (fully funded by the employee) where there are a minimum of 150 currently insured employees. Employers wanting to provide their workforce a Health Cash Plan for the first time on a voluntary basis will be considered on a case-by-case basis.
• For both Flexible or Voluntary policies, employers should have an appropriate platform, process or system to manage employee enrolment and collect premiums. 

We aim to have a balanced book of business insuring small, medium, and large employers. 

Customer needs and goals

The product meets the demands and needs of an employer who wishes to:

• Provide or make available to their employees (and their families), a health plan which provides financial support for everyday healthcare costs.
• Promote health and wellbeing to their employees (and their families) by providing access to a range of wellbeing support services such as unlimited remote GP service, mental health support, nutrition consultations, cancer screening and health assessments.

The policy may not be suitable for:

• Employers wanting to provide or make available to their employees cover for:
  • non-routine tests and treatment for acute medical conditions, including inpatients tests and / or surgery. 
  • critical illness conditions in addition to cancer, heart attack and stroke, that pays a material lump sum benefit of more than £5,000. 
• Employers not based in the UK or do not have a UK branch registered at Companies House. 
• Employers with fewer than the required number of employees.
• Non-commercial customers (i.e. individual retail customers). 

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to get instant online quotes for policies with fewer than 750 employees, or the policy premium is below £100,000. Requests above these limits will be serviced by the Operations team. 
• Benefits may also be tailored according to the needs of the customer via the online portal (size limits apply).
• Once terms have been agreed with the customer, brokers will have the ability to administer policies on behalf of their customers by uploading member data files, viewing invoices and managing joining and leaving members.
• Commission will be paid to brokers at a default rate of 10% on received premiums (net of Insurance Premium Tax ‘IPT’). This rate is in line with the market and considered reasonable in return for the services provided by the broker and arranging cover with Unum on behalf of the customer. See ‘Broker remuneration survey’ for more information on the services provided by brokers in return for the commission. Brokers can request to remove commission or amend the default amount to a maximum of 20% when requesting a quote.
• Unum will seek to enter special distribution arrangements with strategic broker partners to achieve growth objectives. These arrangements typically offer the insurer access to a large volume of the broker’s customers in return for enhanced product and commercial terms. This creates efficiency in the distribution chain and offers value to the customer with the enhanced terms.
• Unum will not be actively seeking direct distribution opportunities but are able to support customers on request.
• Unum may also engage with other partners and introducers on Introducer Appointed Representative ‘IAR’ basis.

3. Value assessment

The product is expected to deliver good value to our target customers based on the forecasts made on the product’s performance in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between claims ratio, distribution, and administration expenses
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The policy meets a clearly defined real need.
  • The customer can use the policy under the circumstances they expect.

As this is a new product, the rating is based on forecast data and metrics including:

• Customer research findings;
• Numbers and causes of complaints;
• Persistency;
• Participation;
• Customer Satisfaction 'CSAT' scores;
• Underwriting outcomes;
• Claims paid;
• Claims ratios; and
• Broker renumeration and commission.

Learn more about Health Plan 360

^{The proactive wellbeing support services on the Help@hand app are provided by third parties on their terms. We reserve the right to change the service provider(s) during the term of the policy. For more information, please click here.}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment, as they are intended to deliver similar cover and outcomes for customers, and the target markets are consistent (other than for the minimum number of employees as described below). Where there is potential for a product variant to have a different impact on value, this has been considered within the review:

• Standard Employer Funded Policies.
• Flexible and Voluntary Policies: Employees choose whether to join the policy and their level of cover within the limits set.
• Policies arranged through our Benni distribution channel.
• Policies arranged through a special agreement with one of our distributors or a bespoke policy with non-standard terms.
• Policies arranged through a special distribution or Introducer Appointed Representative 'IAR' agreement.
• Policies taken out with Unum as part of the Cigna Renewal Rights agreement in 2023-2024.
• Includes our latest Clear and Radiant ‘Extra’ products (launched May 2024) and existing legacy product variants which remain in operation.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

1. Product description

Dental Cover meets the demands and needs of an employer who wishes to provide employees and their dependants (where covered) reimbursement towards the costs of routine and essential dental treatment.

New Product Launches

• Clear Extra and Radiant Extra dental products introduced for new customers from May 2024.
• From March 2025, all renewing customers are being offered terms for the latest ‘Extra’ products.
• Extra products designed to improve customer experience and value through:
  • Streamlined treatment list for simpler claims.
  • Enhanced benefits based on data insights, focusing on high-usage treatments.
  • Adult orthodontic cover added for Index Of Treatment Need (IOTN) grades 4 & 5 only.
  • Digital dental services offering virtual care and guidance.

Feature	Clear Extra	Radiant Extra
Levels of Cover	Up to 6	Up to 6
Treatment Categories	Fixed 'menu' of treatments including preventative, restorative, emergency & other	Grouped treatment across categories including preventative, restorative, emergency & other
Digital Dental Services	Access to Toothfairy	Access to Toothfairy

Product features

• The new ‘Extra’ product and the previous ‘legacy’ products both include:
  • Cover for pre-existing conditions except for mouth cancer. 
    • Note: Implants/bridges for pre-existing gaps excluded on the ‘Extra’ products unless previously insured.
  • Worldwide cover.
  • 100% reimbursement of National Health Service ‘NHS’ dental treatment charges.
  • Immediate cover from the day the policy starts.
  • Visits to any NHS or private dental practice.
• Cover can be extended to the employee’s adult and child dependants where agreed by the policyholder.
• Policies distributed through IARs are typically marketed at a fixed price and a specified level of cover.
• Members of the policy have access to 
  • ‘Benefit Hub’ - a platform which offers a range of discounts, rewards and perks on a range of brands across a variety of categories. 

Key exclusions

The policy will not cover:

• Cosmetic treatment.
• Treatment carried out before cover starts and after cover ends.
• Missed appointment fees and dental sundries and consumables (unless specifically stated otherwise on the benefit schedule).
• Mouth cancer which existed prior to joining the policy.
• For the new Extra products, implants or bridges which are fitted to a pre-existing gap in the mouth unless previously insured for dental treatment under another insurer’s policy immediately before joining Unum’s Dental policy.

2. Target market

The target market is employers with 4 or more employees based primarily in the UK who want to provide their employees access to reimbursement towards the costs of routine and essential dental treatment.

• An employee can be a permanent or fixed-term employee.
• An employee who is based overseas must have a contract of employment with a UK resident employer.
• On occasion we will offer policies to employers with fewer than 4 employees under a special arrangement.
• To offer flexible and voluntary policies, the minimum number of employees is 150, unless otherwise agreed by us.
• Any special distribution or IAR agreements typically apply to policies covering between 3 - 100 employees.

We aim to have a balanced book of business across small, medium, and large employers.   

Customer needs and goals

The product meets the demands and needs of an employer who wishes to:

• Provide employees access to reimbursement towards the costs of routine and essential dental treatment.
• Offer employees the opportunity to top up their own over or choose cover for their family members.
• Promote employee health and wellbeing including providing access to employee assistance programmes and support services.
• Provide an attractive employee benefits package to attract and retain staff.

The policy may not be suitable for:

• Employers not based in the UK or do not have a UK branch registered at Companies House.
• Employers with fewer than the required number of employees.
• Non-commercial customers (i.e. individual retail customers). 

Unum Distribution Strategy

Unum distributes this product through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Unum may also engage with other partners and introducers on Introducer Appointed Representative ‘IAR’ basis.
• Intermediaries must agree to Unum Terms of Business.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution, and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The policy meets a clearly defined real need.
  • The customer can use the policy under the circumstances they expect.

This rating is based on metrics and data including:

• Customer feedback and research findings;
• Numbers and causes of complaints;
• Persistency;
• Participation;
• Customer satisfaction (CSAT) scores;
• Underwriting outcomes;
• Claims paid;
• Claims ratios; and
• Broker remuneration and commission.

Learn more about Group Dental Insurance

^{Toothfairy services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services. The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to unum.co.uk/frequently-asked-questions/services.}

^{1 Savings and discounts services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services.  The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to frequently asked questions}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbookand the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment as the products are intended to deliver similar cover and outcomes for customers and the target markets are consistent (other than for the minimum number of employees as described below). Where there is potential for a product variant to have a different impact on value, this has been considered within the review.

• Standard Employer Funded Policies.
• Voluntary and flexible policies.
• Policies arranged through a special agreement with one of our distributers or a one-off policy with non-standard terms.
• Policies arranged through a special distribution or Introducer Appointed Representative 'IAR' agreement.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

1. Product description

Optical Cover from 'Unum Dental' can help employees and their dependants maintain good eye health by providing cover towards regular eye exams, as well as providing help towards the cost of frames and lenses, including contact lenses.

New Product Launches

• In 2021, Unum enhanced its optical cover to offer greater choice and better coverage.
  In 2024, Unum began amending terms for all renewing customers to the latest product terms. From May 2025, there no customers remaining on the previous product terms. As the assessment period includes 2024 performance data, the previous product information has been included in this year’s assessment.

Feature	Current Product (Post-2021)	Previous Product (Pre-2021)
Levels of Cover	Up to 4 levels	1 level
Covered Items	Exams, lenses, frames, contact lenses, off-the-shelf reading glasses and digital protection lenses	Exams, first set of glasses/lenses or change in prescription
Accidental loss of sight benefit	£10,000 in the event of accidental loss of sight, which can only be claimed once by an insured adult in their lifetime under the optical policy	£10,000 in the event of accidental loss of sight, which can only be claimed once by an insured adult in their lifetime under the optical policy
Immediate Cover	✔️	✔️
Free choice of optician, including outside the UK	✔️	✔️
Access to 'BenefitHub' - retail discounts and savings platform	✔️	✔️

Key Exclusions

The current policy does not provide cover for:

• Optical sundry items or consumables such as cleaning solution and carry cases.
• Optical expenses relating to the cost of repairing lenses or frames.
• Laser eye surgery.
• Any optical procedure or purchase which is purely cosmetic and not necessary to maintain, restore, or correct your vision.
• Loss of sight as a result of an accident when already claimed for previously under any optical policy with Unum.
• Loss of sight for any reason other than as a result of an accident as described in this policy.
• Eye examinations, purchases, or any accident which occurs before cover starts or after cover ends.

2. Target market

• The target market is employers with 4 or more employees based primarily in the UK who want to provide optical cover for their employees. 
  • An employee who is based overseas must have a contract of employment with a UK resident employer.
• On occasion, we will offer policies to employers with fewer than 4 employees under a special arrangement.
• For flexible and voluntary policies, the minimum number of employees is 150.

We aim to have a balanced book of business across small, medium and large employers.

Customer needs and goals

The policy meets the needs of employers who wish to:

• Help employees and their dependants maintain good eye health by providing access to reimbursement towards optical expenses including regular eye examinations, the cost of frames and lenses, including contact lenses.
• Give employees access to financial benefits if they lose their sight in an accident.
• Offer employees the opportunity to top up their own cover or choose cover for their family members.
• Provide an attractive employee benefits package to attract and retain staff.

The policy may not be suitable for:

• Employers not based in the UK or do not have a UK branch registered at Companies House.
• Employers with fewer than the required number of lives.
• Non-commercial customers (i.e. individual retail customers).
• Employers who do not have one or more of the needs or goals listed above.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the policy under the circumstances they expect.

This rating is based on metrics and data including:

• Claims acceptance rates
• Numbers and causes of complaints
• Scheme and Employee Persistency
• Customer Satisfaction (CSAT) scores
• Claims ratios
• Broker remuneration and commission.

Learn more about Group Optical Insurance

^{1 Savings and discounts services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services.  The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to frequently asked questions}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

1. Product description

Sick Pay Insurance meets the demands and needs of an employer who wishes to provide short-term financial support to their employees if they cannot work due to illness or injury beyond the period outlined in their policy (the deferred period), by paying a proportion of their salary as a monthly benefit. 

This product was closed to new employers from May 2022 and allows new employees to join existing employer policies and for employers to continue cover subject to periodic re-rating and/or re-underwriting.

Existing customers were migrated from a self-serve administration platform to our core operating platform in January 2023.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

Product features 

The policy allows an employer when taking out the policy to choose:

• Who to insure.
• The level of income benefit to provide, between 50% and 80% of employee salaries.
• How soon after the employee is absent payments start with 1, 2 or 4-week deferred periods.
• How long the income benefit is paid, between 13 and 52 weeks.

Key exclusions

The policy does not provide cover for employees who are required to hold a license or certificate only issued when they meet certain medical standards.

2. Target market

• The target market is employers with 10 or more employees based primarily in the UK who want to protect their employees’ incomes in the event they are unable to work due to accident or illness. 
  • An employee can be insured if they satisfy the conditions of eligibility defined in the policy, meet the definition of being Actively at Work, and successfully complete Evidence of Insurability, if required.
  • An employee who is based overseas must have a contract of employment with a UK resident employer.
  • Once in force, the number of insured employees may fall below 10.

We aim to have a balanced book of business across small, medium and large employers.   

Customer needs and goals

The policy meets the needs of employers who wish to:

• Provide financial support to employees who are unable to work in the short-term due to illness or injury.
• Obtain independent validation of employee absences.
• Provide access to absence management services and in-work support for employees struggling to work due to illness or injury.
• Promote employee health and wellbeing including providing access to employee assistance programmes and support services.
• Provide an attractive employee benefits package to attract and retain staff.

The policy may not be suitable for:

• Employers with fewer than the required number of employees.
• Individuals subject to Schedule D taxation (i.e. taxation of the profits of trades, professions or vocations under Schedule D of the Income and Corporation Taxes Act 1988).
• Non-commercial customers (i.e. individual and retail customers).
• Employers who do not have one or more of the needs or goals listed above.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The policy meets a clearly defined real need.
  • The customer can use the product under the circumstances they expect.

This rating is based on metrics and data including:

• Claims ratio;
• Broker remuneration and commission;
• Claims acceptance rates;
• Persistency;
• Utilisation of Value-Added Services (VAS);
• Numbers and causes of complaints;
• Process failures; and
• Customer satisfaction.

^{Help@hand from Unum services (the ‘Services’) are provided to Unum Limited (“Unum”) customers by third-party specialist providers chosen by Unum. Unum is not the provider of the Services. The Services are entirely separate from the insurance policy provided by Unum. Access to the Services is facilitated by Unum at no cost to the Unum customer, and Unum may change or withdraw access to the Services at any time. Use of the Services are subject to the terms and conditions of the relevant third-party specialist providers. Services are available to UK residents only. For further information, please go to unum.co.uk/frequently-asked-questions/services.}

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment as they are intended to deliver similar cover and outcomes for customers and the target markets are consistent (other than for the minimum number of employees as described below). Where there is potential for a product variant to have a different impact on value, this has been considered within the review.

• Continuation options: Policies taken out by members when leaving corporate dental plans (Clear and Radiant), Ex-Cigna members when leaving corporate dental plans.
• Dencover Boost: Individual policies chosen by members through a corporate distribution.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

1. Product description

These policies are individual (retail) products, which provide the policyholder and their dependants (where covered) reimbursement towards the costs of routine and essential dental treatment.  

Product features 

• Continuation options provide the same cover as the corporate dental policy under which the member was previously covered: 
  • Clear provides a choice of up to 6 levels of cover with increasing amounts of benefit against fixed treatments.
  • Radiant provides a choice of up to 5 levels of cover, divided into preventative care, major treatment and minor treatment.
• Dencover Boost provides a choice of up to 5 levels of cover, divided into preventative care, major treatment and minor treatment.
• Continuation members have access to 'Benefit Hub', a platform which offers a range of discounts, rewards and perks on a range of brands across a variety of categories.
• Policies include: 
  • Visit any dentist of the policyholder’s choice - National Health Service 'NHS' or private.
  • Worldwide Cover (Continuation option only).
  • 100% reimbursement of NHS charges (Continuation option only).
  • Immediate cover from the day the policy starts.
• Cover can be extended to the policyholder’s adult and child dependants.

Key exclusions

We will not cover:

• Cosmetic treatment.
• Mouth cancer which existed prior to joining the plan.
• Prescription charges, missed appointment fees, and dental sundries and consumables such as toothbrushes and dental hygiene products.
• Treatment carried out before cover starts and after cover ends.
• Benefits for overnight hospital stays in the Republic of Ireland (ROI).
• Orthodontics for insured adults.
• Treatment carried out before cover starts and after cover ends.

For Dencover Boost we will not cover:

• Treatment arising from, traceable to or caused by a pre-existing condition unless otherwise agreed by us and specifically stated on the benefit schedule.
• Treatment which was identified, started or completed during any applicable qualifying period.
• Injury caused to the teeth, gums or mouth during any type of hospital procedure. 

2. Target market

• The target market for Continuation options are former employees of an employer with either a Clear or Radiant policy who are within 30 days of leaving that employer at the time of taking out the policy and wish to continue their cover on leaving their employer.
• Ex-Cigna group policy holders who are within 30 days of leaving that employer at the time of taking out the policy and wish to continue their cover on leaving their employer.
• The target market for Dencover Boost is employees of large employers who have chosen to offer dental cover to their employees without being the group dental policyholder.
• Dencover boost also includes ex-Cigna policyholders who had an individual continuation policy with Cigna.

Customer needs and goals

The product meets the needs of employers who wish to:

• Former employees of an employer who, within 30 days of leaving that employer, need to continue their existing dental cover including reimbursement towards the costs of routine and essential dental treatment.
• Dencover Boost meets the needs of those individuals who need to have access to reimbursement towards the costs of routine and essential dental treatment.

The policy may not be suitable for:

• Individuals who receive Dental coverage from their new employer.

Unum Distribution Strategy

Unum’s Dencover Boost product is introduced by authorised financial intermediaries to employers, who provide their employees with access to purchase the policy online.

Unum’s Continuation option is made available to members of a Group Dental policy who are required to apply to join as an individual retail customer. 

Both the Dencover Boost and Continuation Option products are offered in accordance with UK regulatory requirements for distance selling. These products are introduced and accessed remotely, and all relevant pre-contractual information is provided clearly and accessibly before purchase.

Customers are informed of their cancellation rights and receive all necessary documentation in a durable medium, ensuring compliance with the Financial Conduct Authority’s ICOBS rules and the Financial Services (Distance Marketing) Regulations 2004.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the product under the circumstances they expect.

This rating is based on metrics and data including:

• Claims acceptance rates;
• Customer feedback and research findings;
• Numbers and causes of complaints;
• Sales and persistency;
• Process failures resulting in customer detriment; 
• Claims ratio; and
• Broker remuneration and commission. 

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Scope

The following policy types have been grouped together for the purposes of this assessment as the products are intended to deliver similar cover and outcomes for customers and the target markets are consistent (other than any differences described below). Where there is potential for a product variant to have a different impact on value, this has been considered within the review.

• Executive Income Protection (EIP): Designed for small and midsized enterprises ‘SMEs’ providing selected employees the benefits of an extended sick pay arrangement.
• Individual Income Protection (IIP), including:
  • All versions of the product sold between 1977 and 2012 including Personal Income Replacement Plan, Primary Income Protection Plan and Tax guard policies.
  • Products sold through a private label arrangement.

Individual Income Protection business closed to new customers in 2012, and Executive Income Protection closed to new customers in 2022.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

1. Product description

Income Protection meets the demands and needs of an individual who wishes to protect their income if they cannot work or lose essential abilities due to accident or illness beyond the period outlined in their policy (the deferred period), by paying them a monthly benefit.

Product features 

• Insured benefits can include inflation-linked increases in line with Retail Price Index (RPI).
• Policies can include automatic benefit increase options which allow the customer to increase their benefit without the need for medical underwriting.
• If the policyholder is not working policies can include:
  • Cover while not in occupation offering an alternative definition of incapacity for up to 60 months.
  • A career break for up to 12 months.
• The Executive Income Protection product also includes:
  • Portability of cover:
    • If the employee leaves the employment of the policyholder, cover can be transferred to a new employer. 
    • If the new employer does not wish to continue the policy or the employee becomes self-employed, the employee can transfer ownership to themselves. 
  • Employers can choose to cover additional costs such Pension Scheme Contributions and National Insurance Contributions.
• Additional Disability Plus option for 20% more benefit to be paid.

Key exclusions

• Cover is subject to providing satisfactory medical evidence and as a result may be subject to underwriting restrictions or exclusions.
• During a career break, we will not consider a claim or pay benefit and we will not collect premiums.

2. Target market

The target market for IIP prior is anyone who: 

• Works and needs an income to cover their regular outgoings, and  
• Is not fully covered under a group income protection policy.   

The target market for EIP is:

• Single employee limited companies who want to arrange Income Protection cover through their business.
• SMEs looking to provide cover for selected employees.

Customer needs and goals

This policy meets the needs of an individual who: 

• Requires financial support if they are unable to work due to an illness and/or a disability. 
• Does not have Income Protection cover through their job's compensation package and/or enough savings to cover ongoing living expenses.

The policy may not be suitable for:

• Individuals or employers not based in the UK or without a UK branch registered at Companies House.
• Individuals whose non-UK taxable earnings arise in the currency of any country not in the following list: Australia, any member state of the European Union, Canada, Channel Islands, Gibraltar, Iceland, Isle of Man, New Zealand, Norway, Switzerland, United States of America.
• EIP is not suitable for individuals wanting to protect an income that is not provided by the named policyholder.

IIP may not be suitable for those who would qualify for means tested benefits.
Executive Income Protection customers need income protection through their single employee limited companies or they are SMEs who need to provide income protection cover only for selected employees in case those employees are unable to work because of an illness and/or disability. Support beyond benefit payment is another emerging customer expectation. Good quality rehabilitation services have become an important expectation for customers.

Trust in the insurer is a major factor as well. Consumers expect to see high claim payout rates, high customer service ratings (e.g. Trustpilot scores and Defaqto ratings) as a proxy for quality.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries. 

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers. 
• Intermediaries must agree to Unum Terms of Business. 
• We offer intermediaries access to UnumOnline, allowing brokers to get instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients.  
• Brokers can also review and service new or existing qualifying policies via UnumOnline. 
• Unum may also engage with other partners and introducers on Introducer Appointed Representative ‘IAR’ basis.  

Retail Premium Finance

Unum’s individual protection products including Individual Income Protection include the option to pay the premium monthly for an additional loading. Paying monthly rather than annually in advance, increases the cost to Unum because of the lost investment income and the costs of administering monthly Direct Debit payments.

The additional loading is shown to continue to be fair and proportionate.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the product under the circumstances they expect.

This rating is based on metrics and data including:

• Claims acceptance rates;
• Numbers and causes of complaints;
• Persistency;
• Underwriting outcomes;
• Claims ratios; and
• Broker remuneration and commission.

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

1. Product description

The policy provides a guaranteed cash lump sum if the policyholder is diagnosed with a medical condition or undergoes one of the specified surgical procedures and survives the event by at least 14 days.

For benefit to be payable:

• The condition or surgical procedure must meet the policy definition; and
• The member must survive for at least 14 days after the critical illness event.

The product closed to new business in 2012.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

Product features 

• Policyholders can choose different levels of benefit to match the relative severity of three different types of critical illness event.
• Once a claim has been paid for a critical illness event, no further claims can be made for that category. Any remaining cover in other categories is reduced by the amount of benefit paid.
  • Once the overall maximum benefit has been paid, then plan will end.
• Member’s children are automatically provided with the same type of cover as the member, excluding Total Permanent Disability and Loss of Independent Existence.
  • Children’s benefit is 25% of the member’s benefit up to a maximum of £25,000.
• Other features include:
  • Waiver of premium benefit.
  • Option to increase benefit amounts.
  • Inflation-linked increases.
  • Reducing cover in line with a repayment mortgage.

Key exclusions

• Cover is subject to providing satisfactory medical evidence and as a result may be subject to underwriting restrictions or exclusions.
• Children’s cover excludes Total Permanent Disability and Loss of Independent Existence.

2. Target market

The target market is individuals between the ages of 16–65 who require Critical Illness Cover. This includes:

• Individuals who wish to protect themselves financially in the event of a critical illness diagnosis
• Individuals who have a mortgage on their home
• Individuals with financial dependants 
• Self-employed individuals
• Individuals who have caring responsibilities

Customer needs and goals

The policy meets the needs of individuals who require financial support in the event they or their children suffer one of the specified illnesses or undergo one of the covered surgical procedures.

The policy may not be suitable for:

• Employers looking to provide group cover for their employees (i.e. commercial customers).
• Individuals who have sufficient levels of Critical Illness Cover elsewhere. For example:
  • Through their employers.
  • Dependants who have Critical Illness Cover through their parent/legal guardian or their spouse/partner.
• Individuals who have no financial commitments or financial dependants.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to get instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients. 
• Brokers can also review and service new or existing qualifying policies via Unum Online.
• Unum may also engage with other partners and introducers on Introducer Appointed Representative ‘IAR’ basis. 

Retail Premium Finance

Unum’s individual protection products including Individual Critical Illness include the option to pay the premium monthly for an additional loading. Paying monthly rather than annually in advance, increases the cost to Unum because of the lost investment income and the costs of administering monthly Direct Debit payments.

The additional loading is shown to continue to be fair and proportionate.

3. Value assessment

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between loss ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the product under the circumstances they expect.

This rating is based on metrics and data including:

• Numbers and causes of complaints;
• Customer feedback and research findings;
• Claims acceptance rates;
• Persistency;
• Claims ratios;
• Process failures resulting in customer detriment; and
• Broker remuneration and commission.

Purpose

This review assesses whether the product provides fair customer value as required under FCA Policy Statement (PS21/5), which includes feedback to CP20/19 and the final rules, and the updated governance requirements in section PROD 4.2 of the FCA handbook and the requirements of Consumer Duty PS22/9.

Overall value rating: Provides fair customer value.

Date published: 30th September 2025

1. Product Description 

Essential Ability Cover meets the demands and needs of an individual who wishes to protect their income if they lose essential abilities to perform 3 of the 11 physical tests at any given time; or suffer serious symptoms of mental illness or any serious impairment in social or occupational functioning where certified with a Global Assessment of Functioning (GAF) Scale score of under 51 by a Consultant Psychiatrist or Psychologist. 

Product features 

• Maximum benefit payable is £25,000 pa (at start of policy), unrelated to earnings. The cover can increase to a maximum level of £50,000 a year.
• The definition of incapacity for EAC is a physical or mental health test.
• Customers can choose between 4, 8, 13, 26 or 52 weeks. 
• Policy will pay based on the either of the 2 distinct tests: the physical and the mental health test.
• Policies can end at any age between 50 and 70. However, the plan must last at least 5 years.
• When receiving benefits, Unum’s team of Vocational Rehabilitation Consultants can provide support and assistance in rehabilitation. 

Key exclusions

• Cover is subject to providing satisfactory medical evidence and as a result may be subject to underwriting restrictions or exclusions.
• The plan is not available to non-UK residents. But policy holders are covered if they decide to live, work or travel in the world.
• The cover can’t be suspended under this plan.

2. Target market

The target market for EAC is higher risk occupations (where traditional Income Protection is not available or may be prohibitively expensive) or those who do not have an occupation.

Customer needs and goals

The product is suitable for:

• Customers who are in higher risk occupations requiring financial support if they are unable to perform certain physical activities and can't provide for themselves and/or their dependants. 
• Customer who don’t have an occupation yet would need some form of financial support in the event they were unable to perform certain physical activities so would need to pay someone else to carry them out if they could not.
• Although this group of products are not currently being sold to new customers, their needs were known when the product was open to new business.

The policy may not be suitable for:

• Individuals who do not have a UK bank account in pounds sterling.
• Individuals who need more traditional Income Protection that would provide financial support if they were unable to perform their occupation.

Unum Distribution Strategy

Unum distributes its products through authorised financial intermediaries.

• Intermediary channels include national brokers and employee benefits consultancies, regional and independent brokers and specialist advisers.
• Intermediaries must agree to Unum Terms of Business.
• We offer intermediaries access to UnumOnline, allowing brokers to get instant online quotes and their best pricing for their small and medium sized enterprise ‘SME’ clients.
• Brokers can also review and service new or existing qualifying policies via UnumOnline.
• Unum may also engage with other partners and introducers on Introducer Appointed Representative ‘IAR’ basis.  

Retail Premium Finance 

Unum’s individual protection products including Individual Income Protection include the option to pay the premium monthly for an additional loading. Paying monthly rather than annually in advance, increases the cost to Unum because of the lost investment income and the costs of administering monthly Direct Debit payments.

The additional loading is shown to continue to be fair and proportionate.

3. Value assessment 

The product is shown to continue to provide good value to our target customers in each of the following measures of customer value:

• Suitability for the target market
  • Target customers can use the cover at the appropriate time.
  • The extent of cover appropriately mitigates risks as would normally be expected.
  • Underwriting rules create inclusivity for the target market.
• Price and value for money
  • Appropriate balance between claims ratio, distribution and administration expenses.
  • Profits are reasonable with a long-term view.
• Customer understanding
  • Customers understand the product for the peace of mind it gives should an insured event occur.
• Customer support
  • The product meets a clearly defined real need.
  • The customer can use the product under the circumstances they expect.

This rating is based on metrics and data including:

• Claims acceptance rates;
• Numbers and causes of complaints;
• Persistency;
• Underwriting outcomes;
• Claims ratios; and
• Broker remuneration and commission.