OneAmerica Asset Care Product Teaser

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 highlihghts:

  • The new application has two designated sections, Part I and Part II, providing a clearer distinction — HIPAA language is included in the app and is no longer a separate form!
  • Joint applicants are now defined as legally married spouses, domestic partners or those in a civil union.
  • Waiver of Premium for LTC is automatically included for ALL coverages at no additional charge with recurring premium policies. It is built into the base policy and the rider will no longer be individually declined.
  • Tobacco will be defined as “any nicotine use” which is consistent with a traditional product approach.

Learn more »

What you need to plan for today

NEW!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.
 
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
Click here for the full transition rules »

Training opportunities
Register for a free Asset Care webinar today »
Read more about the NEW Asset Care training requirement »

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

 
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OneAmerica Asset Care Product Teaser