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Long Term Care Blog

September 21st Deadline - New Pricing Coming - OneAmerica Asset Care

by Jack Lenenberg

Long Term Care Insurance Genworth Privileged Choice Flex 

August 29, 2019 Update: The old Asset Care pricing is certainly much better than the new Asset Care pricing.

The old OneAmerica Asset Care pricing is still available until September 20, 2019 for a limited period of time in the following states:

Arizona, California, Connecticut, Delaware, District of Columbia, Hawaii, Montana, New Jersey, North Dakota and South Dakota.

Genworth Long Term Care Insurance ReviewIf you are fortunate to be a resident in any of these states you still have the opportunity to lock in the old Asset Care pricing. Please call me before September 20 at (800) 891-59824 to submit your application before this pricing changes in your state.

OneAmerica Asset Care, the market leading hybrid long term care insurance policy that provides lifetime unlimited LTC benefits and joint life options for couples is changing its pricing July 1st.  The deadline to receive current pricing is June 28th, 2019

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 its whole-life based Asset Care product suite, and OneAmerica will be launching a new Asset Care product July 1st.

The Asset Care market launch is occurring in the following 40 states July 1st.

• 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

We do not have new pricing, however in the past repricing on long term care policies typically has increased 20% - 30% with various underwriters.  With the uniqueness of the Asset Care policy - it is the only hybrid LTC policy that offers Lifetime Unlimited Benefits and joint life - a price jump in this 20% - 40% range is to be expected.  If you are interested in this policy, it will certainly be in your best interest to submit your application before the deadline.

See Also: Shift In The Asset Based Market Expected To Grow

State Life One America Asset CareOneAmerica Asset Care Deadline Transition Rules

To receive current Asset Care pricing the following rules apply:

Paper applications must be received in home office by the end of business on June 28, 2019.

Electronic applications must be locked and sent for signature by June 28, 2019. 

OneAmerica Asset Care Illustrations And Quotes

To receive your customized OneAmerica Asset Care illustrations please call me directly at (800) 891-5824 or you may request a quote through our online request form.

Should you want to apply for coverage to beat the June 28th deadline, the application process is fast and easy.  We will generally need 15-20 minutes by phone to complete your application.

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