Businessweek

individual and group basis. Aflac U.S. also offers term and whole-life coverage sold through payroll deduction at the worksite on both an individual and group basis, and various term and whole-life individual policies on a direct basis. Aflac U.S. offers accident coverage on both an individual and group basis. These policies are designed to protect against losses resulting from accidents. The accident portion of the policy includes lump-sum benefits for accidental death, dismemberment, and specific injuries, as well as fixed benefits for hospital confinement. In addition, other benefits, such as short-term disability are available as riders. Aflac U.S. offers coverage for critical illnesses on both an individual and group basis. These policies are designed to protect against losses resulting from critical illnesses, such as heart attack, stroke, or even cancer. The company offers cancer coverage on an individually underwritten basis; critical illness/critical care policies on both an individual and group basis; critical care and recovery on an individual basis; and hospital intensive care plans on an individual basis. Aflac U.S. offers hospital indemnity coverage on both an individual and group basis. The company’s hospital indemnity products might provide fixed daily benefits for hospitalization due to accident or sickness, or just sickness alone. Indemnity benefits for inpatient and outpatient surgeries, as well as various other diagnostic expenses, are also available. Aflac U.S. offers fixed-benefit dental coverage on both an individual and group basis. Aflac U.S. also offers Vision Now, an individually issued policy, which provides benefits for serious eye health conditions and loss of sight. Vision Now includes coverage for corrective eye materials and exam benefits. The company has a strategic marketing alliance with Dai-ichi Life Insurance Company. Distribution – Japan The traditional channels through which the company sold its products are independent corporate agencies, individual agencies, and affiliated corporate agencies. As of December 31, 2011, Aflac Japan was represented by approximately19,700 sales agencies, with approximately 120,700 licensed sales associates employed by those agencies. Distribution – U.S. The company’s U.S. sales force comprises sales associates and brokers who are independent contractors licensed to sell accident and health insurance. Many are also licensed to sell life insurance. Regulation – U.S. The company and its insurance subsidiaries, Aflac (a Nebraska-domiciled insurance company), American Family Life Assurance Company of New York (Aflac New York, a New York-domiciled insurance company) and Continental American Insurance Company (a South Carolina-domiciled insurance company) are subject to state regulations in the United States as an insurance holding company system. Such regulations generally provide that transactions between companies within the holding company system must be fair and equitable. Significant Events In May 2012, AFLAC Inc. announced that it has launched Aflac Benefits Solutions (ABS), a separate subsidiary focused on providing specialized services to the nation's brokerage firms. History Aflac Incorporated was founded in 1955.