Care Solutions News, November 2021

Care Solutions Sales & Support Teams Find your key sales contacts using our current territory map.   Operations updates Prepare for year-end: Review key dates and holiday hours We’re dedicated to helping you have a smooth and successful year-end. To ensure you’re prepared, review our holiday hours, new business processing guidelines for 2021 production, and details about this year’s required minimum distribution waiver.   Thanksgiving office closure, early newsletter deadlines OneAmerica will be closed Thursday, Nov. 25 and Friday, Nov. 26 for the Thanksgiving holiday. We will resume regular business hours on Monday, Nov. 29. Because of the upcoming holidays,
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Adjustment to charge back of commission in months 7-12

Schedule Adjustments on charge back of commission   Effective 12-1-2021, GLICO is making an adjustment to its commission schedules as they pertain to the charge back of commission in months 7-12. 100% of commission will be charged back should a surrender happen within six (6) months of date of issue and 50% for surrenders within 7-12 months of issue. This is not a change to the commission rate, only the charge back in months 7-12. This change will affect all annuity products and year durations. It will be effective on all policies that fund after 1-1-2022. Questions? Call GILICO’s Agent
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Categories: Guaranty Income, Industry News, and Linked Benefit/Hybrids.

WA long-term care application processing update

WA long-term care application processing update We would like to share an important application processing update now that the state of Washington (WA) Nov. 1st deadline has passed for individual coverage to be in place for the WA Cares Fund exemption. As you know, the volume of applications from WA put a significant strain on carriers and vendors who support this business across the industry. While OneAmerica® Underwriters and Case Managers are focused on processing as much business as possible before year-end, our processing times remain higher than normal. Unfortunately, our ability to provide and respond to status requests is
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Great News About Care Solutions Leadership

Care Solutions Sales & Support Teams DENNIS MARTIN, PRESIDENT, ILFS MARK SCALERCIO, HEAD OF DISTRIBUTION, ILFS   Our Care Solutions business continues to be an important part of the OneAmerica® story, and one of the ways we differentiate and drive value for the distribution partners and customers who depend on us.   Today, we’re pleased to announce an exciting next chapter for Care Solutions, and to share with you that Jeff Levin has accepted a role as our new head of Care Solutions. Jeff has been serving as interim head of Care Solutions since July, and his leadership, vision, experience
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Care Solutions News, October 2021

Care Solutions Sales & Support Teams Find your key sales contacts using our current territory map.   Operations updates Thanksgiving office closure, early newsletter deadlines OneAmerica will be closed Thursday, Nov. 25 and Friday, Nov. 26 for the Thanksgiving holiday. We will resume regular business hours on Monday, Nov. 29. Because of the holiday, the November issue of Care Solutions News will be distributed on Thursday, Nov. 18.   Postal Service delays The Unites States Postal Service (USPS) has implemented new service standards for First-Class Mail, beginning Oct. 1. This may be affecting the timing of mail from OneAmerica being
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Update: WA long-term care application process

Update: WA long-term care application process The rapid influx of applications in the state of Washington (WA) has put significant strain on carriers, underwriters, and the vendors who support this business across the industry. When we made the decision to temporarily suspend sales of our Asset Care and Annuity Care products in Washington state on Aug. 14, we indicated we were unable to guarantee applications would be fully processed with a policy in force prior to Nov. 1, 2021. The following is the current status on pending applications for the remainder of October: On WA applications requiring medical records it
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Updates and changes to our Asset Care® portfolio

Updates and changes to our Asset Care® portfolio OneAmerica® is committed to the long-term care (LTC) market and to offering products that bring value to both the agents and clients we serve together. To help ensure the longevity of our Care Solutions product portfolio and confidently continue to keep our promises to you and your clients, we must continually monitor market conditions, practices, pricing and features and make adjustments as needed. Below is information on upcoming changes to be aware of:   Changes on Asset Care Single Premium, Annuity Funding Whole Life and Asset-Care I in California We’ll be making
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Return to pre-COVID guidelines: COI no longer required for every case

Return to pre-COVID guidelines: COI no longer required for every case Effective immediately, we will no longer require a Certificate of Insurability (COI) to be completed at policy delivery if premium is submitted with the application and the policy is issued standard or better. As long as the premium is submitted with the application, doesn’t have a substandard rating, and bound via a temporary insurance agreement (such as in Cash with App cases), no COI will be required. Additionally, we will no longer require a COI to be completed prior to initiating a request of funds or 1035 exchange. This
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

LIVE EVENT! Part 1 and 2 LTC vs Hybrid – he Gloves are Coming Off!

Join Jeff Clark as these two insurance products go blow-by-blow! In Part 1 of this 2-Part Series, we’ll show why traditional LTCi is still the best option in many cases, supported with premium comparisons! Wed, Aug 18, 2021 11-11:30 p.m. CDT Thurs, Aug 19, 2021 2-2:30 p.m. CDT   View Our Full Line Up of Product and Sales Webinar Events     Questions or help registering? Call the GoldenCare Marketing Team at 800-842-7799! Don’t forget to subscribe to our News Digest for all the latest announcements from the Top Carriers! Check out GoldenCare News  
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Categories: GoldenCare News, Industry News, and Long-Term Care.

Suspension of Asset Care Sales in Washington State, effective Aug. 14

Suspension of Asset Care Sales in Washington State, effective Aug. 14 We have been monitoring the sales and regulatory environment created by the WA Cares Fund. It’s important for OneAmerica® to regularly assess risk to protect our ability to deliver on promises made today and long into the future. Accordingly, we have decided to temporarily suspend sales of our Asset Care product in Washington state effective Aug. 14, 2021.   New Business Submission Rules Beginning Aug. 14, 2021, Asset Care applications in Washington will no longer be accepted. All eApp or paper applications must be received in the Home Office
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.