Coming on April 25: Key changes to Annuity Care II Continuation of Benefits rider
As a result, we’ll be making two key changes to the Continuation of Benefit (COB) rider options on our Annuity Care II product, effective April 25, 2020. These changes reflect our commitment to good stewardship and the viability of our products, as well as our dedication to being there when our customers need us most. We are:
- Adjusting the pricing of the Annuity Care II COB rider as well as the inflation protection on this benefit
- Suspending the sale of 72-month (6-year) and 108-month (9-year) extension options for the Annuity Care II COB rider. The 36-month (3-year) extension option with the non-decreasing LTC feature will remain available
What you need to know
The Annuity Care II State Approvals tracking spreadsheet shows the most current state approval information for both changes. The Annuity Care II COB rider pricing change will launch in certain approved states only, while the discontinuation of the 72-month (6-year) and 108-month (9-year) COB options will affect all states where Annuity Care II is approved for sale.
will be the last day to submit Annuity Care II applications with either the 72-month (6-year) or 108-month (9-year) COB options in all states, or the old rates for the 36-month (3-year) option, where applicable. Review the full transition timeline for details.
If you have already completed the required OneAmerica Product Training for Annuity Care II, you will not need to complete a new course in order to sell the product.
Contact your OneAmerica regional sales director with questions about these product changes, transition rules or training.