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.
Some more highlihghts:
What you need to plan for today
New business processing updates
OneAmerica is committed to providing a positive customer experience. In anticipation of a higher volume of business with the Asset Care product launch, we have implemented the following:
• Added additional resources internally to help ensure processing time
impacts are minimal
• Worked with LTCG, our vendor who conducts our underwriting phone
interviews, to add additional hours for interview availability
Despite these efforts, you may still experience an impact in internal processing time and LTCG interview availability. You can help by:
- Setting expectations with your clients in advance
- Letting clients know that interviews could take two to three weeks to complete
We’ll work to ensure resources are dedicated appropriately and continue to provide updates as necessary.
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.
Click here for the full transition rules »