First Premium Payment Methods Are Changing

Effective June 28, 2023 Due to our vendor’s processing change, we will no longer be able to accept credit cards as a method of payment for the first premium payment as of June 28, 2023. For a client’s first premium payment we accept: Personal check Cashier’s check Electronic check or eCheck OneAmerica® accepts checks made payable to OneAmerica or to The State Life Insurance Company®.   Pay by eCheck tip Complete the Electronic Premium Payment Authorization, I-34818. The form authorizes one-time or recurring debit payments from a checking or saving account. Make sure the client has their bank account and
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Help is One Phone Call Away with OneAmerica

Supporting Customers Through Long-Term Care Events Retirement comes with endless possibilities, but also added risks. The more we age, the more likely we are to need long-term care. One way for your clients to continue to be there for their loved ones is to have a plan. In case of a long-term care event, your customers can make sure not only that they will have the means to pay for it, but that their loved ones will have the support they need. Help is Only One Phone Call Away Our Care Benefit Concierge makes it easy for a power of
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Streamlining Electronic Sales with eApp

New enhancements to our eApp process are making it easier for you to submit new business with OneAmerica®. These new features and deep-dive resources are built to improve your virtual workspace experience as you continue to grow your business. They add value to your time while developing efficiencies in our current virtual environment.   With eApp you can: Obtain signatures electronically. Run illustrations to prefill applications. Automatically order LTCG tele-interview. Eliminate application errors, no NIGOs. Reduce processing time by two to five days. Place your order with one click! No more calls for tele-interview orders! The new auto-order button automatically
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

Care Solutions News, March 2023

Operations updates OneAmerica Closed on Good Friday OneAmerica will be closed on Friday, April 7, for the Good Friday holiday. Normal operations will resume on Monday, April 10.   Process Solutions Based on your/client feedback, two enhancements were made to the Asset Care eApp process, to provide a new online option to complete the Part 2 questions and to help identify underwriting program earlier. In addition to the release above, here’s an updated eApp process video.   It’s Almost Tax Time Annuity Care II is now offering more leverage on client dollars with activation of a 6-year Continuation of Benefits
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

The Pension Protection Act and Long-Term Care FAQs

The Pension Protection Act and Long-Term Care FAQs The Pension Protection Act (PPA) deals with changes and reforms to pension governance, specifically with annuities, long-term care and new tax advantages. What does this mean for annuities? Cash value withdrawals from eligible annuity contracts for qualifying long-term care (LTC) expenses or qualifying long-term care insurance premiums are no longer taxable income. Can regular annuity withdrawals for LTC expenses be treated as tax-free distributions? An annuity policy must include language which makes it qualifying. This would preclude a “regular annuity” (an annuity with standard free withdrawal) from receiving the benefits of the
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

GILICO: Mid-March Rate Updates

With treasuries and interest rates trending downward following recent banking industry events and related market impacts, it is prudent for Guaranty Income to make appropriate rate adjustments consistent with lower market interest rates. As always, we remain focused on delivering competitive and sustainable products over the long term. Applications must be received no later than 3 p.m. Central Time on Friday, March 17 to hold the higher rate, and monies/transfers/exchanges must be received within 45 calendar days.   > Mid-March Rates       #goldencareagent #gilico
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Categories: Guaranty Income, Industry News, and Linked Benefit/Hybrids.

Don’t Miss this Important Portal News

New Advisor Portal is Coming Soon!   Guaranty Income Life (GILICO) is preparing to roll out new advisor and policyholder portals in the coming weeks. With this enhancement, you will only need to sign on to a single portal to gain access to both presales tools and your clients’ policy information. This new advisor portal will provide access to: Our FireLight eApp tool, if your IMO does not already have an instance of FireLight. A link to client policy information from the advisor landing page. No need to go to a second login page. Access to presales materials and illustration
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Categories: Guaranty Income, Industry News, and Linked Benefit/Hybrids.

OneAmerica — Strong and Stable

DENNIS MARTIN, PRESIDENT, INDIVIDUAL LIFE AND FINANCIAL SERVICES ANDREW MICHIE, CHIEF FINANCIAL OFFICER Over the last few days, you may have seen news reports about Silicon Valley Bank and resulting concern about the stability of the banking sector. Actions by the Federal Reserve and the U.S. Treasury have been swift, but this remains a developing situation. In case you’re wondering if OneAmerica® might be impacted, we want to assure you that: OneAmerica has zero direct exposure to Silicon Valley Bank or to Signature Bank of New York. OneAmerica has exceptional capital strength and diverse sources of liquidity. OneAmerica continues to
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Categories: Industry News, Linked Benefit/Hybrids, and OneAmerica.

SecureCare III repriced in Florida

SecureCare III is up to the challenge Effective February 13, 2023, rates for SecureCare™ III, a long-term care (LTC) and nonparticipating whole life insurance policy, were decreased by 25 percent across all case scenarios in Florida. All pending applications that have an effective date on or after February 13, 2023 will automatically be eligible for and receive the new pricing. This will result in a face amount that is higher than originally illustrated. You take pride in offering your clients the best LTC solution — we think you’ll find it with SecureCare III. SecureCare III offers: Competitive pricing and robust
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Categories: Industry News, Life Insurance, and Securian.

Administrative alert – SecureCare III price improvement

SecureCare III price improvement Effective January 23, rates for SecureCare™ III will be reduced by 25 percent across all case scenarios in all states except AZ, CA, CT, DE, DC, FL, IN, MT, NJ, ND, NY, SC and SD. SecureCare III is a long-term care (LTC) and nonparticipating whole life insurance policy. Transition rules The new SecureCare III rates will be available January 23, 2023 in all states except AZ, CA, CT, DE, DC, FL, IN, MT, NJ, ND, NY, SC and SD. All pending applications that have an effective date on or after January 23, 2023 will automatically be
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Categories: Industry News, Life Insurance, and Securian.