The State Life Insurance Company launches ExpressUWsm to complement upgraded Asset-Care product
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (March 4, 2009) – The management of The State Life Insurance Company, a OneAmerica® company, is pleased to announce the launch of a new underwriting process to offer faster service for clients and producers. Called ExpressUWsm , the process coincides with the recent upgrade of State Life’s 20-year old Asset-Care product, which is a life insurance-based long-term care solution.
ExpressUWsm underwriting takes between five to seven business days, giving producers and policyholders a significant drop in wait times, compared to previous underwriting processes, which took up to two months.
“ExpressUWsm is one more feature that is attracting producers and their clients to Asset-Care,” said Christopher Coudret, executive vice president for State Life. “Of all the positive aspects that we’re offering, the addition of our Asset-Care Express underwriting process is the most important because we’re able to issue and deliver an approved policy in record time.”
In addition to launching an upgraded and improved version of Asset-Care in 2009, State Life also expanded Asset-Care’s client benefits and increased compensation for producers.
“The basic foundations of Asset-Care still remain from when the product was launched in 1989,” said Bruce Moon, vice president of marketing for State Life. “The product offers guaranteed premiums, which is a truly unique benefit in the long-term care insurance industry where rate increases are common. It also offers consumers guaranteed benefits and growth of their cash value.”
For consumers, Asset -Care serves a dual purpose. If they never need money for long-term care expenses, they can pass their policy on as a death benefit, which is income tax-free to the beneficiary. For policyholders that experience a long-term care situation, they can access their death benefit to cover those expenses on a monthly basis.
“Life insurance based long-term care solutions can protect policyholders against the costs of nursing or in-home health care while alleviating the potential financial and emotional burdens placed on family members,” Coudret explained. “Through product improvements to Asset-Care, we are pleased to offer solutions that can help producers grow their business while helping policyholders rest easy.”
Celebrating 20 years as a long-term care insurance solution, the new Asset-Care is now available in 46 states. Asset-Care is one of a portfolio of Care Solutions products offered through State Life, a OneAmerica company. 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 #L301 & SA31: Product and riders may not be available in all states.
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