Unum 2013 Annual Report Download - page 9

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UNUM 2013 ANNUAL REPORT / 7
69%
Employee Paid
31%
Employer
Paid
54%
Employee Paid
46%
Employer Paid
2003 2013
A CHANGING MARKETPLACE
(% Sales* with Employee Contribution)
*U.S. Sales excluding IDI-RI and LTC
Most workers in the U.S. and U.K. lack
access to benefits that can preserve
their financial stability in the face of
illness or injury. These vulnerable
individuals and families could lose
their financial footing with one difficult
diagnosis or sudden accident. So while
we see a tremendous opportunity to
grow the financial protection benefits
market, our view is more expansive.
The true opportunity lies in helping
a majority of the modern workforce
plan for unforeseen circumstances
rather than hoping against them.
With government programs on both
sides of the Atlantic stretching fewer
resources further and further, the
responsibility for building a personal
financial safety net lands squarely on
individuals. Employers play a critical
role in offering meaningful benefits
to the employees who strengthen their
businesses. And the need is clear.
In the U.S., more than one in four of
today’s 20-year-olds will be unable
to work due to injury or illness before
they turn 67.
With 165 years of industry leadership,
we’re in a strong position to expand
a market with clear potential and
help ensure financial security for today’s
diverse workforce. Our desire to pursue
these opportunities is driven by our
understanding of the need to protect
the financial stability of individuals,
families, and communities.
“ Unum is both a market and thought
leader in financial protection benefits.
With employers, consumers, and
policymakers, we are actively engaged
in enhancing the understanding of the
vital importance of financial protection,
as well as helping more people
prepare for the unexpected.”
Mike Simonds, President and CEO, Unum US
“ With solid financial footing and an
excellent reputation, Colonial Life
meets the financial protection needs
of America’s workers. Our market-
leading benefits counseling support
helps employees understand and fill
their coverage gaps, strengthening
their financial safety nets while
controlling costs for employers.”
Randy Horn, President and CEO, Colonial Life