Planning Tips and Carrier News for Advisors 

OneAmerica- Updated AssetCare Coming in July

Posted by LTCI Partners | Jun 6, 2019 8:59:00 AM
June 5, 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!
Overall, we chose to focus on streamlining the product offering. Asset Care is ONE PRODUCT with multiple ways to fund protection:
  • Single Premium Whole Life
  • Single Premium Whole Life with Return of Premium
  • Annuity Funding Whole Life
  • Recurring Premium Whole Life (with optional Single Premium Drop-In)
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
Paper apps for the current product must be received in the Home Office by end of business on June 28, 2019. eApps must be locked and sent for signature by end of business on June 28, 2019 and must be received in the Home Office by end of business on July 12, 2019. Applications submitted through both submission methods must have the underwriting interview ordered by June 28, 2019. Click here for the full transition rules »
Training opportunities

We'll be hosting national webinars on the new Asset Care product every Tuesday and Thursday in June and July. Producers from all distribution channels are encouraged to participate.

Register for a free webinar today »

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.



Topics: OneAmerica, hybrid life/Long-Term Care

Written by LTCI Partners

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