OneAmerica Expedited Underwriting: Expanded and Simplified

With Asset Care® expedited underwriting, applicants who qualify can bypass medical exams and medical records, and policies move through underwriting and on to issue more quickly. Now, we’re expanding the program so more applicants can participate, and we’re simplifying the calculations that determine who qualifies. The changes below apply to all new applications submitted on or after February 24.

What’s changing: Making expedited easier
By increasing the amount to underwrite limits for the expedited program, we’re giving more applicants access to easier, quicker underwriting. We’ve also eliminated the 1.5x multiplier previously used to determine the limits for policies with a COB rider, for a simpler calculation.

The total amount to underwrite limits will change as follows:

 

Product option Total amount to underwrite old limit Total amount to underwrite new limit
Asset Care with lifetime COB $166,667* $250,000
Asset Care with limited COB $166,667* $500,000
Asset Care with no COB $250,000 $500,000

 

*Includes the 1.5x multiplier, if applicable

What’s not changing
Clients will still need to meet certain requirements to qualify for expedited underwriting. If they don’t, or if the case exceeds the limits above, full underwriting is still available.

Learn more
Our updated Care Solutions Process Guide is your go-to resource for expedited underwriting processes and calculations. You’ll find Asset Care impairment guidelines with underwriting considerations (page 6-9) as well as full details on the underwriting process, requirements, and how to calculate total amount to underwrite (pages 12-13).

 

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