The State Life Insurance Company reports exceptional 2009 sales, expanded distribution for its asset-based long-term care products
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (April 14, 2010) – National sales of traditional long-term care insurance products struggled in 2009, but a bright spot was The State Life Insurance Company, a OneAmerica company that reported a 77 percent jump in sales of its asset-based long-term care products and an increased wholesaling staff to support its strategic initiatives.
“Our game plan is unique – we focus on long-term care products by using life insurance and annuities as foundations. With our experience in products and a great wholesaling team, we can offer opportunities that other companies cannot,” said State Life president Mark Wilkerson. “The result of our 2009 efforts was sales growth and a greater presence in the marketplace.”
In 2009, State Life’s sales force grew by nine and expansion is set to continue in 2010. A new structure that began to segment financial institutions and brokerage/non-bank accounts has proven successful in its first year. Additionally, State Life also added significantly to its number of strategic distribution professionals, released a new Asset-Care® version in 48 states, and has launched its second Annuity Care® product, which provides another tax-advantaged annuity solution that allows consumers to benefit from Pension Protection Act provisions.
“During the last year, State Life has reinforced its leadership position and shown a stellar commitment toward providing outstanding opportunities to help consumers ease the burdens of paying for costly long-term care expenses,” said Dayton H. Molendorp, chairman, president and CEO for the OneAmerica companies. “Under normal circumstances, this is a significant achievement. However, given the struggles of the traditional long-term care insurance industry throughout 2009, State Life’s accomplishments are tremendous.”
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 helping to protect 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 plan 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 increasing value to our policyholders by helping them plan to meet their financial goals.
We deliver on our promises when customers need us most.
Products underwritten and issued by The State Life Insurance Company, Indianapolis, IN. Asset-Care Policy Form series numbers: L301, R501 and R518. Annuity Care Policy Form series numbers: SA34, R508. Guarantees are subject to the claims paying ability of State Life.
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