Definition: A life insurance Aflac (American Family Life Insurance Company) is an American-based company that provides life insurance policies to individuals, families, and businesses. The policyholder typically owns a life insurance policy, which can be purchased as either term or whole life policies, depending on their needs and preferences. With Aflac's products, policyholders receive coverage for the death of a loved one, for catastrophic losses resulting from natural disasters like hurricanes and earthquakes, and to protect their family members against unexpected financial hardships.
The company offers various types of insurance policies with varying features, including:
1.
Term Life Insurance
: This is typically purchased as a term life policy, which provides coverage up to 60 years without any guaranteed death benefit.
2.
Whole Life Insurance
: This type of policy covers for the death of the insured or spouse within 30 days following the insured's death.
3.
Variable Life Insurance
: This policy allows you to adjust your premiums based on your health status, age, and risk of disease.
4.
Critical Illness Coverages
: Aflac offers various types of critical illness coverages such as accidental death, accident, disability, and catastrophic injury.
5.
Life Insurance for Business Owners
: For businesses, Aflac provides a broad range of life insurance options including term and whole-life policies for both individual and business owners.
Aflac is headquartered in Omaha, Nebraska, but its products are sold throughout the United States. They offer products across multiple market segments, including health, lifestyle, home, auto, and property insurance.
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