During this recent period of low interest rates, The State Life Insurance Company, a OneAmerica® company took responsible steps to ensure our products were priced effectively while continuing to meet the needs of our consumers and distribution partners. Because of this measured approach, we are now in a position to respond to current positive interest rate movement. It’s what you should expect from the asset-based LTC market leader.
Effective September 1, 2013, premium expense charges on Asset-Care® I, II, and III policies will be decreasing. This decrease has the effect of increasing Asset-Care death benefits, LTC benefits and cash value accumulation.
The premium expense charge decrease will be implemented as follows:
- All Asset-Care I, II, and III policies issued September 1, 2013 and after will receive the new, lower premium expense charges.
- Software version 5.83 will be available September 1, 2013 to illustrate the higher values provided by this decrease in expense charges.
- Asset-Care IV premium expense charges will remain unchanged as they have not been included in previous expense charge increases.
Through the ups and downs, we’ve been there with rock-solid products and market commitment. Thank you for your continued support and the trust you and your clients place in the Care Solutions portfolio asset-based LTC products.