OneAmerica-Interest Rate Changes

Mar 13, 2020 • LTCI Partners

OneAmerica-Interest Rate Changes

Access interest rates effective March 15

Effective Sunday, March 15, 2020, some OneAmerica^® interest rates are changing.

Indexed Annuity Care and Asset Care Annuity Funding Whole Life new money rates are decreasing.
Guaranteed Interest Rates (GIR) for some products are decreasing.
All other rates remain unchanged.
New Care Solutions rates, transition rules and GIR changes are listed below.

View all rates »

New Care Solutions rates
Indexed Annuity Care
Point-to-Point Cap: 2.00%
Point-to-Point Par: 10.00%
Monthly Average Cap: 2.00%
Monthly Average Par: 10.00%
Fixed Account: 1.00%

Asset Care
Annuity Funding Whole Life: 1.00%

Transition rules for Asset Care (Annuity Funding Whole Life)
Due the structure of this product as a funding mechanism for Asset Care, we must receive the following by end of business on Thursday, March 12, in order to preserve current interest rates:

A completed application AND
All cash and 1035/transfer funds

Note: The interest rate change will not impact the values for the Guaranteed Income Benefit Rider or the Asset Care benefits provided by that income, as this is calculated using the premium received.

Guaranteed Interest Rates changing March 15

On March 15, 2020, the Guaranteed Interest Rate for new issues of Annuity Care II (in Washington and Nevada) and Asset Care Annuity Funding Whole Life (in all approved states) will decrease to 1.00%.

Transition rules for GIR change

Cash transactions: We must receive a completed application with full premium in the Home Office by end of business on Friday, March 13, to preserve current interest rates.
Transfer/1035 transactions: We must receive a completed application with completed transfer or 1035 paperwork no later than Friday, March 13. All pending transfers to 1035s must be fully funded by Wednesday, May 13, to preserve current interest rates.

Note: The Guaranteed Interest Rate applies to both the cash and LTC fund values.

Most Beneficial Rate: Indexed Annuity Care offers your clients the opportunity to receive the best declared interest (or cap, or par) rate available between the date their application is received in the Home Office, and the effective date of the contract, if fully funded within 60 days of application. This feature is intended as an easy-to-do-business provision to provide you and your clients the peace of mind to know that they can receive the best declared rates during the application process. Annuity Care also offers this feature for 1035/transfer monies only.

Note: All products may not be available in all states or may vary by state. Policies are issued by The State Life Insurance Company®, Indianapolis, Indiana.

For use with financial professionals only. Not for public distribution.

OneAmerica® is the marketing name for the companies of OneAmerica. The companies of OneAmerica® : American United Life Insurance Company®, The State Life Insurance Company®, OneAmerica Retirement Services LLC, McCready and Keene, Inc., OneAmerica Securities, Inc., and Pioneer Mutual Life Insurance Company®, a stock subsidiary of American United Mutual Insurance Holding Company.

© OneAmerica Financial Partners, Inc. All rights reserved.

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