Asset Care® Update from OneAmerica

Bringing Value to More States

We’re pleased to announce that our updated Asset Care® product will be available starting Sept. 23, in Arizona, Connecticut, Delaware, Hawaii, New Jersey, North Dakota and South Dakota as we continue to launch the product across the country.

Review the full transition rules for newly launching states, noting these key dates:

  • Paper applications for the current product and rates (premium expense charges) must be received in the Home Office by EOB Sept. 20, 2019.
  • eApps must be locked and sent for signature by EOB Sept. 20, 2019 and must be received in the Home Office by EOB Oct. 4, 2019.
  • Applications submitted through both methods must have the underwriting interview ordered by Sept. 20, 2019.
Additional State Notices

Montana and Washington D.C. Announcement
Effective Sept. 21, Asset Care® will no longer be available for sale in Montana and Washington D.C. Existing applicants must be submitted to the Home Office by Friday, Sept. 20, and be placed inforce by Dec. 31. We continue to work on these approvals and look forward to offering the new Asset Care as soon as possible after approvals are received.

California Announcement
Effective Sept. 23, we’re making changes to the Asset-Care base premium rates for California. These changes allow us to maintain product availability while we continue to seek approval on the new Asset Care product.

This change only affects applications submitted on or after Sept. 23. All existing inforce policies are not affected, as all premiums are contractually guaranteed to remain unchanged for the life of the policy.
 

What You Need to Know

State approvals
The Asset Care Product Launch and Advertising Approval tracking spreadsheet shows the most current state availability information. You may continue to sell the current product in states where the new product has not launched, except for in Montana and Washington, D.C., as noted above.
 
Transition rules for new state availability
Click here for the full transition rules
 
Training opportunities
Register for a FREE webinar today
 
Asset Care annuity suitability training requirement
An insurance producer may not solicit the sale of the new Asset Care® annuity-funded whole life option until he/she has completed insurer-provided product-specific training. Review the training requirements and access the training for both the new Asset Care product as well as California requirements for the old product.
 
New business processing
OneAmerica® is committed to providing a positive customer experience. Learn more about the steps we’re taking to ensure business continues to run smoothly in anticipation of a higher volume of business with the Asset Care product launch.
 

Have questions?
Contact your OneAmerica regional sales director with questions about Asset Care.
 

 
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