OneAmerica – Updates and Changes to Asset Care Portfolio


OneAmerica is committed to the long-term care (LTC) market and to offer products that bring value to both the agents and clients we serve together. To help ensure the longevity of the Care Solutions product portfolio, OneAmerica must continually monitor market conditions, practices, pricing, and features and make adjustments as needed. Below is information on upcoming changes to be aware of:

Changes on Asset Care Single Premium, Annuity Funding Whole Life and Asset-Care I in California

OneAmerica is making two key changes to the Asset Care portfolio, effective Sept. 25, 2021, that will affect the single premium life products only. These actions are precipitated solely by the prolonged low-interest-rate environment, which has the largest impact on our single premium products. These changes will not affect any recurring or Continuation of Benefits (COB) premiums.


• Adjusting the pricing of Care Solutions single premium whole life products; this change will apply to Asset Care Single Premium and Asset-Care I (California)
• Reducing the annuity income rider bonus on our Annuity Funded Whole Life (AFWL) product from 20% to 10%
• Asset Care Recurring Premium
• Continuation of Benefits (COB)
• Asset-Care III (CA)
• Asset-Care IV (CA)


7702 Updates for Asset Care and Asset-Care in California

Concurrently, OneAmerica will implement changes required by the recent updates to 7702 federal tax code. The regulatory changes require a reduction in their non-forfeiture interest rate (cash value interest rate). These updates will also be effective Sept. 25, 2021, with the impacts as follows:

  • Asset Care (non-California): Changes have resulted in a slight increase to policy cash values with no impact to face amounts and long-term care benefit values.
  • Asset-Care in California: There will be a slight increase in cash values and little to no impact on the policy face amount and long-term care benefit values.

What you need to know: Transition rules

Sept. 24, 2021, will be the last day to submit Asset Care and Asset-Care I applications with the current single premium rates and the 20% AFWL bonus. Please review the full transition timeline for details.

Despite these changes to a portion of OneAmerica portfolio, we remain steadfast in our commitment to offering long-term care protection to your clients, with features such as optional lifetime benefits, joint benefits under a single policy, a variety of funding options, and personalized Care Benefit Concierge service to support clients and their families when a claim need arises.


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