Planning Tips and Carrier News for Advisors 

Coming July 1: Updated Asset Care

Posted by LTCI Partners | Jun 13, 2019 9:36:34 AM
 
June 12, 2019   
News to Know
 
 
Coming in July: Updated Asset Care®
By Jan. 1, 2020, all issuers of life insurance are required to reprice their products according to the 2017 CSO mortality tables. OneAmerica® has updated the benefits and pricing within our whole-life based Asset Care® product suite, and we will be launching a new product in July!
Asset Care is still the same great product with the same great benefit guarantees — we’ve just simplified and enhanced the product, improved consistency while maintaining flexibility, and added options that our distribution partners have asked for over the years. Joint coverage and lifetime benefits are still available! Some more highlights:
  • We’re introducing a Single Premium Drop-In Rider (SPDR) on the Recurring Premium Whole Life funding option. Read more about the new SPDR »
  • We’re offering a new 5-pay option on Recurring Premium Whole Life – your clients will now be able to choose a 5, 10 or 20-pay option
  • The COB rider will be built into the base policy – no separate policy number/contract for the COB rider
What you need to plan for today
State approvals
The Asset Care Product Launch and Advertising Approval tracking spreadsheet shows the most current state availability information. After the initial launch, you may continue to sell the current product in states where the new product has not launched.

Transition rules

Have questions?

Contact your OneAmerica regional sales director with questions about the launch, transition rules or training.

OneAmerica® is the marketing name for the companies of OneAmerica. ©2019 OneAmerica Financial Partners, Inc. All rights reserved. OneAmerica® and the OneAmerica banner are all registered trademarks of OneAmerica Financial Partners, Inc. Products are issued and underwritten by The State Life Insurance Company® (State Life), Indianapolis, IN, a OneAmerica company that offers the Care Solutions® product suite. Asset Care Form numbers: ICC18 L302; ICC18 L302 JT; ICC18 L302 SP; ICC18 L302 SP JT. Not available in all states or may vary by state.

For use with financial professionals only. Not for public distribution.
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OneAmerica Financial Partners, Inc.
One American Square, PO Box 368 Indianapolis, IN 46206-0368 United States

 
 

Topics: OneAmerica, hybrid life/Long-Term Care

Written by LTCI Partners

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