Business Underwriters Associates, LLC

OneAmerica: Price Decrease on Asset Care Portfolio, Effective December 9, 2022

12-09-2022

For the second time in 2022, OneAmerica® is announcing a price decrease on their Asset Care product portfolio across the country, effective Dec. 9, 2022. 

OneAmerica's long-term perspective, disciplined approach and more than 30 years of experience in asset-based long-term care allow them to confidently improve the value to their stakeholders. Backed by their financial strength and commitment to this market, OneAmerica will simply be there when customers need them most. 

Overview

Dec. 9, 2022 The Asset Care price decrease goes into effect on all cases issued on or after Dec. 9, 2022. This will impact the following Asset Care product portfolio funding options:

All States except California 

  • Single Premium, including the Return of Premium option and Single Premium Drop-in Rider
  • Annuity Funding Whole Life: Income Benefit Rider Bonus increasing to 25%.
  • Recurring Premium: 5-pay and 10- pay only; No change on 20-pay or pay-to-95.

California

  • Asset-Care I
  • Asset-Care II/III
  • Asset-Care IV: No Change

Cases Issued Between Nov. 9 – Dec. 9, 2022 Eligible for New Pricing

Dec. 9, 2022

  • Quote software reflects new pricing. Neither the software nor the home office can generate quotes with the new pricing prior to this date.
  • Advisors may begin submitting requests to reissue eligible policies via email or OneSource Online. Sending a new, unsigned illustration with the request is preferred but not required.
  • Reissue requests will be worked as quickly as possible. It is our desire to maintain service levels on all new applications, so reissue requests pertaining to this price change may fall outside our normal service standards.

By Dec. 20, 2022 

  • Requests for reissue must be received by OneAmerica® no later than Dec. 20, 2022 via email or OneSource Online. Sending a new, unsigned illustration with the request is preferred but not required.

Important Notes:

  • Commission statements will reflect a chargeback when the original policy is terminated. The commission for the new policy will then be applied when processing is complete.
  • New policy pages will be generated, and new delivery requirements will apply as well. These must be signed by the applicant and returned to the home office as directed.

Please give us a call at 1-800-792-6795 if you have any questions.