From OneAmerica:
Due to the ongoing challenges with the COVID-19 outbreak, we believe it is prudent to make temporary changes to our business limits as detailed below. These changes are effective at the close of business Friday, May 1 (5/1/2020). Business already in-house and business received by end of day on May 1 will be handled according to our guidelines prior to this announcement. Applications received after close of business on May will be handled according to the guidelines below.
Care Solutions business
- For ages 70 and above
- Only single-pay is allowed. We are suspending Asset Care Repetitive Pay Whole Life and Asset Care 4
- COB must also be single pay
- Annuity Funded Whole Life and Asset Care 2/3 remain available
- Annuity products remain available; COB pay periods remain as they are today on annuities
- No rated cases allowed
- Asset Care Return of Premium is also being suspended
- Age 70 and above cases not meeting these criteria will be postponed
- For ages 69 and below, there no changes to our current guidelines
For ages 70 and above, cases not meeting these criteria will be postponed. Please note that there are no changes to annuity business at this time.
For ALL underwritten products, both Care Solutions and traditional, we will require a Certificate of Insurability (COI) upon policy delivery for all sales (both Cash on Delivery (COD) and Cash with App (CWA)). The COI must be received before the policy can be put in force / paid.
We appreciate your efforts to serve your clients and to adapt along with us to this rapidly changing environment. Thank you for your commitment and THANK YOU for your business
From Newman Long Term Care:
Need help getting business in by 5/1?
If you already have cases meeting this criteria, our team will be reaching out to you to assist you. For any clients you’d like to insure with the current OneAmerica options, contact our Wholesaling Team at 800-625-9267, Option 1 or Quotes@NewmanLTC.com