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| It is hard to believe that we are already two months into the new year! 2023 has started off with a flourish of activity and there is no slowing down! It’s been great to see many of you at your distribution events and annual kick-offs. |
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Next up is the Intercompany Long Term Care Insurance Conference (ILTCI) taking place in Denver, Colorado from March 12-15th. With more than 800 registered attendees, it will be fantastic to see so many familiar faces in person. As they say, 3-D is much better than virtual!
For those of you not familiar with the ILTCI, the conference is an educational summit that includes sessions for attendees working in sales, marketing, and distribution; actuarial and finance; management and operations, claims and underwriting; and legal, compliance, and regulatory arenas. In addition to educational tracks, the conference provides networking, facilitates communication with thought leaders, increases public awareness of extended care needs and financing options, and fosters alliances between the public and private sectors. It is a conference well worth attending.
As we continue to settle in to 2023, I’m very excited about the realignment of our Care Solution sales and support organization that I shared with you in January. We have reorganized our team to support you where and how you do business: at the individual producer level, regional brokerage general agency level, and at the national independent marketing organization or financial institution level. We have expanded the number of OneAmerica® sales professionals who are ready to meet with you one on one and we have added to our account relationship management team.
Lastly, in the coming months we will be sharing a new tool with you and your sales professionals. This new tool will be a first in the LTC industry – marrying storytelling with illustrations. Rather than simply showing a client a series of tables with features and pricing, those numbers will be integrated into a story that the producer can share with clients. Each story is personalized based on the client’s needs, culminating in a solution that is easy to understand and easy for the producer to present. It’s another way that OneAmerica is focusing on starting a conversation around extended care planning.
As always, thank you for having courageous conversations with your clients and explaining the need for LTC planning. We do what others don’t. I wish you all the best for your continued selling success. Give us a call and let us know how we can help.
Cheers, Jeff
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| Access February interest rates |
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| OSO Updates for Book of Business and Life Events |
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Life Events and Book of Business Download are now available for you to use in the new OneSource Online. This is the first of many releases to allow for full utilization in the new OSO, reducing the amount of back and forth you experience between old and new sites.
Life Events is a self-service reporting module to run and print reports showing term conversions, birthdates, GPO exercises, lapse warnings and more.
Book of Business Download allows you to download a summary file of your agency's existing in-force policies.
These features are available for you in the OSO menu under My Business.
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| Time to move to eApp! Register for OneSource Online |
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Are you still submitting your OneAmerica business on paper? If you answered Yes, now is a great time to get started using eApp for writing your new business whenever possible! One of the first things you’ll need to do to start this process is to register for OneSource Online (OSO) and access Sales Connection. Please go here for detailed instructions to register for OneSource Online. Once you have registered for OSO you can accomplish a lot of tasks, such as checking pending business and commissions and accessing Sales Connection. There are some great resources available on OSO to learn about submitting eApp that you will find helpful. OneAmerica has a lot of resources to help you with this transition. If you have any questions, reach out for help. If you have an iPipeline subscription, you can have OneAmerica products turned on and submit eApp that way as well. Here’s how to do it. |
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| Best Interest and Suitability updates | Attention Minnesota: Best Interest is here! |
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Minnesota updated requirements around Best Interest and Suitability in annuity transactions, effective Jan. 1, 2023. New training courses will be required to submit applications for any annuity products, including Asset Care Annuity Funding Whole Life.
Minnesota producer training includes state-specific training course contents. Minnesota resident producers will need to complete the Minnesota course. Reciprocity applies to non-resident producers only.
Existing producers in Minnesota have until June 30, 2023, to update their training. New producers in Minnesota must complete the new Best Interest and Suitability four-hour training before solicitation of any annuity products.
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| “Where and When” state chart |
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Minnesota producers are required to use these:
- NAIC Best Interest Annuity Suitability Policies and Procedures Producers’ Guide, all other states will continue using the prior version of the guide.
- Best Interest Consumer Suitability Due Diligence Questionnaire, I-22733(MN)(BI), will replace Consumer Suitability Due Diligence Questionnaire, I-22733, in Minnesota and will be available on March 11, 2023. It is a state specific form. However, the standard Best Interest Consumer Suitability Due Diligence Questionnaire, I-22733(BI) may be used in MN until the MN form is available.
- Producer Compensation Disclosure for Annuities, I-34191(MN), is required at the time of submitting an annuity application in Minnesota. It is a state specific form and will be available soon. However, the standard Producer Compensation form, I-34191 may be used in MN until the MN form is available.
In eApp, original forms can be submitted until updated ones are made available
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| Best Interest Producers’ Guide |
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| Submitting CE Certificates |
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Once you have completed your NAIC Annuity Suitability and Best Interest CE Certificates you can email your certificates to us at Individualcontracting.IND@OneAmerica.com. We recommend you email us your certificates when received, there is no reason to wait. |
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| You’re invited to attend our Webinar |
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Join our Advanced Strategies Team, Directors Kelly Hall, and AJ Reiber, along with Jim Kontopoulos, Field Product Director from OneAmerica, as they walk through the Advanced Markets Online (AMO) resource center. They’ll go over the wide variety of resources available to you and demonstrate how to access topics and tools on AMO. There will be a Q & A at the end of the webinar for you to get answers to any questions. Wednesday, Mar. 15 2 p.m. ET Register Here |
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| Care Solutions state licensing guide |
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For use with financial professionals only. Not for public distribution. OneAmerica® is the marketing name for the companies of OneAmerica. Products issued and underwritten by The State Life Insurance Company® (State Life), Indianapolis, IN, a OneAmerica company that offers the Care Solutions product suite. Asset Care Form numbers: ICC18 L302, ICC18 L302 JT, ICC18 L302 SP, ICC18 L302 SP JT, ICC18 R537, ICC18 R538, ICC18 SA39 and ICC18 R540; L302, L302 JT, L302 SP, L302 SP JT, R537, R538, SA39 and R540. Not available in all states or may vary by state.
NOT A DEPOSIT. NOT FDIC/NCUA INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY ANY BANK OR CREDIT UNION. MAY LOSE VALUE.
© 2022 OneAmerica Financial Partners, Inc. All rights reserved. OneAmerica® and the OneAmerica banner are all registered trademarks of OneAmerica Financial Partners, Inc. |
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