Aflac Adds Mental Illness, COVID-19 To Group Critical Illness Insurance

Aflac Incorporated, a leading provider of supplemental insurance products in the U.S., today announced the launch of its newly redesigned Aflac Group Critical Illness Insurance to help employers better support the changing needs of their valued workers in a post-pandemic environment.

The newly designed product includes more standard and optional benefits, giving employers greater flexibility to design the coverage plan that meets the unique needs of their workforce. This has become increasingly important as critical illness insurance is one of the five fastest-growing benefits employers offer.¹

Aflac's redesigned Group Critical Illness Insurance is a next-generation product, offering coverage for a growing list of acute and chronic conditions. In addition to benefits for serious health events and illnesses — like heart attacks, stroke and cancer — that are traditionally part of a critical illness plan, the redesigned product now gives employers the option to include coverage for infectious diseases, including the flu, pneumonia, human coronavirus and chronic conditions like diabetes.

Aflac's new Group Critical Illness Insurance product also offers a mental illness rider that covers serious mental illnesses, including bipolar disorder, post-traumatic stress disorder, substance use disorder, major depressive disorder and schizophrenia. This benefit helps address alarming survey data that shows 80% of workers are worried about their mental health,² particularly as studies show that chronic illnesses, such as cancer, heart disease or diabetes, may increase the likelihood of having or developing a mental health condition.³ Health screenings, including mental health exams that can help detect potential problems before they become more harmful to a covered individual's health, are also available in the plan.

"The past two years have taught us that being prepared for potential medical challenge is essential for employers to maintain a safe and healthy workforce," said Bob Ruff, senior vice president, Aflac Group Voluntary Benefits. "Aflac's new Group Critical Illness Insurance, including new mental health and infectious disease coverage, allows employers to keep their benefits program robust in a way that is meaningful and relevant for today's workforce, while not impacting budget and cost constraints."

"Employees bring their whole selves to work. That includes everything they're dealing with physically, mentally and financially, and the last two years have been especially challenging," said Kim Rudeen, vice president, Aflac Product Development and Management. "Aflac's Group Critical Illness Insurance products were designed to meet today's rapidly changing benefits environment with flexible coverage that helps take care of expenses health insurance doesn't cover. Insured individuals can use their benefits to help with medical co-pays, deductibles and prescriptions or everyday living expenses like rent, utilities or child care."

Highlights of Aflac's strengthened Critical Illness Insurance product include:

• Hospitalization benefit for treatment of a covered infectious disease that is payable on day one of intensive care unit confinement or day four of hospital confinement, whichever is the highest applicable benefit.
• Expanded tests and screenings: New health screening benefits encourage people to seek care that can help detect health concerns, including annual vision exams, testing for certain human coronaviruses, biopsies, immunizations, genetic screening tests and mental health screenings.
• Customizable coverage: Modular expansions cover more chronic and serious illnesses that can be expensive to treat and could possibly lead to higher health insurance costs. The progressive disease rider provides optional coverage for conditions like COPD, Crohn's disease, advanced Parkinson's disease and advanced Alzheimer's disease, while the specified disease rider now covers human coronavirus, pneumonia, influenza, bird flu and Ebola.
• Cancer treatment rider: Rarely seen on a critical illness plan, this new rider provides benefits for therapy, hospitalization, inpatient and outpatient surgery, blood and plasma.

Learn more about this new plan at Aflac.com/critical.

Products and benefits vary by state and are not currently available in all states.

Aflac Group products are underwritten by Continental American Insurance Company (CAIC), a proud member of the Aflac family of insurers. CAIC is not licensed to solicit business in New York, Guam, Puerto Rico, or the Virgin Islands. For groups sitused in California, group coverage is underwritten by Continental American Life Insurance Company.

About Aflac Incorporated
Aflac Incorporated (NYSE: AFL) is a Fortune 500 company helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when insured individuals get sick or injured. For more than six decades, insurance policies of Aflac Incorporated's subsidiaries have given insured individuals the opportunity to focus on recovery, not financial stress. In the U.S., Aflac is the number one provider of voluntary/worksite insurance products. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan, where it insures 1 in 4 households. In 2021, Aflac Incorporated was proud to be included as one of the World's Most Ethical Companies by Ethisphere for the 16th consecutive year. Also in 2021, the company was included in the Dow Jones Sustainability North America Index and became a signatory of the Principles for Responsible Investment (PRI). In 2022, Aflac Incorporated was included on Fortune's list of World's Most Admired Companies for the 21st time and Bloomberg's Gender-Equality Index for the third consecutive year. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/español. Investors may learn more about Aflac Incorporated and its commitment to ESG and social responsibility at investors.aflac.com under "Sustainability."

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

¹ Willis Towers Watson. Pandemic accelerates employer voluntary benefit offerings. May 13, 2021. Accessed 10.7.2021.

² The Conference Board. Survey: Workers Say Job Pressures Take Bigger Mental Toll than COVID-19 Fears. October 7, 2021. Accessed 10.28.2021.

³ Centers for Disease Control and Prevention. Chronic Illness and Mental Health: Recognizing and Treating Depression. Accessed 11.15.21.