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!
What you need to plan for today:
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
Paper apps for the current product must be received in the Home Office by end of business on June 28, 2019. eApps must be locked and sent for signature by end of business on June 28, 2019 and must be received in the Home Office by end of business on July 12, 2019. Applications submitted through both submission methods must have the underwriting interview ordered by June 28, 2019.
Transition timeline
June 28, 2019
eApps must be locked (apps not yet signed but sent for signature)
Interview must be ordered with LTCG
Signed paper app must be received by Home Office by end of business
June 29, 2019
Sales Connection and iPipeline eApps and quoting updated
The new product is available for quoting and submission in the launch states
Underwriting interviews for the new product can be ordered with LTCG in launch states
July 1, 2019
Market launch in AL, AK, AR, CO, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NE, NV, NH, NM, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WV, WI, WY
July 12, 2019
Signed eApps previously locked and sent for signature for the current product must be received in Home Office by end of business
Training opportunities
We’ll be hosting national webinars on the new Asset Care product every Tuesday and Thursday in June and July. Producers from all distribution channels are encouraged to participate.
Click here to register for a FREE webinar today »