The State Life Insurance Company unveils new, improved Asset-Care product for 2009
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (Dec. 16, 2008) – The management of The State Life Insurance Company, a OneAmerica® company, is pleased to announce that Asset-Care®, the original whole life insurance approach for funding long-term care, is being dramatically improved for 2009.
Initially prompted by required updates in the industry’s mortality tables, State Life is making additional, substantial changes that are beneficial to producers and their clients.
“The new Asset-Care continues to be available for those wishing to pay with a single premium, as well as with other annual payment options, including those using non-qualified annuities or qualified dollars as premium,” said Bruce Moon, vice president of marketing for State Life. “All Asset-Care products retain their core foundations: guaranteed premiums, as well as guaranteed cash value growth and guaranteed death benefits and long-term care benefits.”
Long-term care options are expanding with the addition of caregiver training and supportive equipment benefits. Asset-Care policyholders have been used to receiving exceptional claims service, and these additional benefits will offer more flexibility to keep policyholders in their own homes in the event of a chronic illness.
Qualifying for coverage also has become seamless with a new ExpressUWSM process, which will allow business to be processed in 70 to 80 percent less time than before, further delivering on a promise to policyholders.
“What has made Asset-Care successful over the past 20 years has been our commitment to providing meaningful benefits to help our customers. The fact we can do it with guarantees unique in the industry makes it especially attractive. We are not only helping to ease their minds, but also reduce the burden that other family members carry when caring for a loved one,” Moon explained.
The popular option to extend LTC benefits beyond the base life policy death benefit remains available. This includes lifetime LTC coverage with premiums guaranteed to never increase.
Celebrating 20 years as a long-term care insurance solution, the new Asset-Care is now available in 46 states. More details can be obtained by calling State Life at 1-800-428-2316.
About State Life
The State Life Insurance Company, a OneAmerica® company, is focused on providing asset-based long-term care solutions. State Life is a recognized leader in providing these solutions, which utilize life insurance, fixed interest deferred and immediate annuities. The company’s extensive Care Solutions portfolio of products helps consumers build a secure future by creating, leveraging and protecting their assets.
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica® can trace their solid foundations back more than 130 years in the insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plans, products and services; individual life insurance, annuities, long-term care solutions and employee benefits. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees, agents, brokers, and other distribution sources that are committed to maximizing value to our policyholders by helping them plan to meet their financial goals.
We deliver on our promises when customers need us most.
*Note: Asset-Care is whole life insurance that allows prepayment of the death benefit for qualifying long-term care expenses. It is medically underwritten and issued by The State Life Insurance Company. Policy series #L301SA31: Product and riders may not be available in all states.
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