Effective July 1, 2014, the previously announced new Continuation of Benefits (COB) rider available with Asset-Care and Annuity Care sales will be released in Ohio and South Carolina.
As a reminder, the new, updated COB rider offers:
- Lifetime benefit periods – returning with their previous parameters
- Expanded inflation protection offerings (may vary by state)
- A new 20-pay premium option (Asset-Care only)
All while retaining the industry-leading, unbeatable COB features your clients desire:
- Guaranteed premiums that can never increase
- Unisex premium rates – at a time when other LTCi products are separating prices by gender with sharply increased female premiums
- The ability to provide joint life benefits from a single policy
So that you may begin illustrating these expanded COB offerings, be sure to download updated State Life illustration software version 5.94 on www.ols.oneamerica.com – available Tuesday, July 1. Updated applications, forms and Sales Connection e-App will also be available Tuesday, July 1.
Please contact Newman Long Term Care at 612-454-4400 with any questions or for assistance.
States previously made available: Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Washington, D.C., Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming.