Aflac offers supplemental health and life insurance policies that cover special conditions, primarily cancer. AFLAC stands for American Family Life Assurance Company. They are a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services and making capital available. Its principal business is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac), which operates in the United States (Aflac U.S.) and as a branch in Japan (Aflac Japan). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S. Aflac Japan sells cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans and annuities. Aflac U.S. sells accident/disability plans, cancer expense plans, short-term disability plans, sickness and hospital indemnity plans, hospital intensive care plans, fixed-benefit dental plans, vision care plans, long-term care plans and life insurance products1.
1. Aflac was the first major US company to offer shareholders a right to have a say on how much executives are compensated - announced in February of 2007 that they will allow shareholders to cast a non-binding vote on executive pay starting in the 2009 proxy. Boston Common Asset Management, a SRI manager in Boston, was the lead filer on the resolution, emphasized the importance of investors' role in improving corporate policy such as this one on executive pay. The federal governments of the UK, Australia & the Netherlands require sharedholder votes on executive pay with the belief that to allow shareholder voices to be heard on executive pay correlates to better returns1.
2. Solid philanthropy program - As of March 2008, Aflac gave $40M in donations to the Aflac Cancer Center and Blood Disorders Service of Children's Healthcare of Atland2. Aflac also has teamed up with LIME Media (consultancy for wellness and philanthropy sites and custom digital programs focused on social media) to make the largest matching grant ever on Facebook causes3. What were the causes?
How do the 'cancer insurance plans' work? HQ in Columbus, GA