OneAmerica Care Solutions News 📢 March 2021

BT_3.30.21_OneAm_march_news_post

OneAmerica Care Solutions News 📢 March 2021

Care Solutions Sales & Support Teams

Find your key sales contacts using our current territory map.

Level up with CSU in 2021

Join OneAmerica for Virtual Care Solutions University

Register for Virtual Care Solutions University on March 30, 12:30 – 4:30 p.m. ET.  Get an in-depth exploration into the benefits and features of the OneAmerica Care Solutions product suite and how it is different.  Whether you are looking for industry experience, protection that’s beyond the average, using qualified dollars to fund a policy or an industry-leading care benefits concierge experience, you can learn more about it all here!

Tools and Resources

Lead through philanthropy and earn CFP and CE credit

Join the American College of Financial Services for a webinar roundtable on March 31!  Hosted by American College President and CEO George Nichols III and OneAmerica Chairman, President and CEO Scott Davison, along with other thought leaders, the discussion will focus on why economic mobility in underserved communities is good for society and business.  Get inspired to lead through philanthropy and earn CFP and American College CE credit!

LTC Tax Guide

The 2021 Long-Term Care Tax Guide is now available, including updated information on the 2021 age-related table eligible premium amounts; a thorough discussion of the benefits of Asset Care when provided as an executive bonus; the benefits of IRC section 1035 exchanges into Care Solutions portfolio products; and much more!

Compliance Notices

Attention Arkansas, Michigan and Rhode Island: Best interest is here!

Arkansas, Michigan, and Rhode Island have updated the requirements around best interest and suitability in annuity transactions. A new training will be required to be able to submit applications for any annuity products, including annuities funding whole life.  The changes for Arkansas and Michigan went into effect Dec. 29, 2020, and for Rhode Island, the changes will take effect until April 1, 2021.  Information will be forthcoming on the new training requirements and the new forms to use in these states. Original forms can be submitted until updated ones are made available.  Note: States previously approved include Arizona and Iowa.

New Best Interest Annuity Suitability Policies and Procedures Producers’ Guide for Arkansas, Michigan and Rhode Island

A new version of the Producers’ Guide has been created to align with the 2020 Best Interest revisions of the NAIC Suitability in Annuity Transactions Model Regulation.  These changes go in effect Dec. 29, for Arkansas and Michigan and April 1, for Rhode Island.  The prior version of the Producers’ Guide will remain in effect for those states that have not yet adopted the revised Best Interest requirements.  Review the new Best Interest Annuity Suitability Policies and Procedures Producers’ Guide here .  All other states will continue using the original producers’ guide.  Note: States previously approved include Arizona and Iowa.

Operations Updates

Grace period in place to assist policyholders receiving late billing statements

OneAmerica has become aware that due to pandemic and weather mailing delays, some policyholders are receiving their premium notices very close to the payment due date.  If you receive calls from concerned policyholders, please keep the following in mind:

  • Although we contractually grant 30 days grace to our clients, we actually provide up to 60 days of grace.  So, there is ample time for clients to get their payment to OneAmerica.  Policies are fully in force and active during a grace period.
  • OneAmerica neither charges late fees nor assess any kind of penalties for late payments.
  • OneAmerica provides no payment history reporting of any kind to credit agencies on client payment activities.

OneAmerica continues to monitor the USPS situation and are working on process improvements to mitigate some of these challenges.  Thank you for your support as we all work through this situation.

New for California: Updated asset-based LTC loan/withdrawal process

In an effort to help clients better understand the impact of taking a loan or withdrawal from their asset-based LTC policy, California will now require policy owners to sign a letter outlining this impact before OneAmerica can process a loan or withdrawal.  This will affect California Asset-Care, Annuity Care, Annuity Care II and Indexed Annuity Care policies and contracts issued on or after Jan. 1, 2021.  Learn more about this new regulation and review our FAQs.

Access March interest rates

Review new business interest rates for OneAmerica company products that took effect on March 15, as well as changes to the Guaranteed Interest Rate for new issues of Annuity Care that took effect on March 15 in certain states.

Beyond Care Solutions

Beyond Care Solutions products, OneAmerica helps Americans secure their financial future through their Retirement Services and Employee Benefits products and services.  Read more below and reach out to your OneAmerica regional sales director to learn more. 

ComboPlan: Revolutionizing the tax-exempt market

Retirement plan offerings for tax-exempt organizations can be complicated.  But OneAmerica Retirement Services’ cutting-edge new ComboPlan solution offers simplicity, flexibility and sophisticated plan administration.  As organizations deal with the impacts of COVID-19, the RS team continues to look for ways to move the needle on retirement planning and improve employee decision-making abilities.  Read more about ComboPlan and OneAmerica's innovative approach in the tax-exempt market in this recent 401(k) Specialist feature with Retirement Services President Sandy McCarthy.

Learn and Earn

Join us in Madrid for the 2020 Chairman’s Trip

As one of the world’s great capital cities, Madrid is the perfect place to celebrate outstanding achievement for the 2022 Chairman’s Trip.  Qualifiers will join OneAmerica from April 5 – 10 and enjoy a luxurious stay at the historic Westin Palace, Madrid.  Find out how to qualify.

Get away to Aruba for the 2022 Independent Leaders’ Conference

There’s nothing like a little sun, surf and celebration to recognize your success.  That’s why OneAmerica is excited to invite you to Aruba, their destination for the 2022 Independent Leaders’ Conference.  Qualifiers will join OneAmerica for a relaxing getaway from June 7 – 11 and enjoy a luxurious beachfront stay at the Ritz-Carlton, Aruba.  See the qualification rules here.

Webinar

Dig into Care Solutions with free webinars

Learn the basics of OneAmerica Care Solutions products with suite and concept training webinars every other Friday.  Want to go deeper?  Join a Care Solutions Live Deep Dive webinar for in-depth modules on key asset-based LTC topics.

/ Carrier Updates, Featured News

Share the Post

About the Author