OneAmerica - Long-Term Care Insurance Review

Clifford PendellWritten by Clifford Pendell
Louis LopesReviewed by Louis Lopes, CLU ChFC
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The OneAmerica company offers some of best and most innovative long-term care insurance products in the industry.

They also offer lenient underwriting for health impairments, and their policies provide unique features that set them apart from the competition.

70% of us will need some form of long-term care by age 65, and all of us will eventually pass away. Why not purchase an insurance product that would protect your family financially for both of these events?

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    A Brief Overview of the OneAmerica Insurance Company

    OneAmerica is an A+ rated insurance company that offers retirement solutions, life insurance, and long-term care insurance. They are known for their permanent long-term care policies that also offer a death benefit or a cash value upon surrender.

    The company has been in business for more than 145 years, holds more than $80 billion U.S. dollars in assets, and employs 2,000 people.

    In addition to their A+ rating from AM Best, they also have a ComDex score of 95 out of 100 which is one of the highest in the industry.

    The OneAmerica company is based in the United States and their corporate headquarters are located in Indianapolis, Indiana.

    They have been offering long-term care insurance for more than 30 years and their products are currently available in every state except for the state of New York.

    Unique Living Benefits that are Offered by OneAmerica

    The "Care Solutions" policies by OneAmerica offer a handful of benefits that set them apart from the other long-term care policies currently in the marketplace. The company also holds two patents for their innovations. We've outlined some of these unique benefits below:

    1. Guaranteed Rates - The cost of your long-term policy cannot change, regardless of any changes to your health or the marketplace. This sets OneAmerica apart from other long-term care providers that have had to increase their rates in order to offset the rising cost of nursing care.

    2. Death Benefit - With OneAmerica's long-term care policies, if you do not require long-term during your lifetime, your loved one's will collect a death benefit when you pass away. Your policy will also provide a death benefit if you do not use your entire benefit amount before you die.

    Most long-term care insurance policies are "use it or lose it" which means you could end up paying a lot of money for nothing. If you do not need to file a claim during your lifetime, the money you've paid into your policy will be forfeited to the insurance company when you pass away.

    3. Cash Value - You can surrender your policy in exchange for a cash value. While this option forfeits your coverage, it can also be extremely helpful if you experience any financial hardship later in life. This cash surrender value cannot change, it is disclosed before you purchase your policy.

    4. Lifetime Protection - Most long-term care insurance policies offer a benefit period of 2 or 3 years, but about 20% of Americans will need long-term care coverage for 5 years or longer. With OneAmerica, your policy will protect you for your entire lifetime, even if you need care for decades.

    5. Joint Coverage - Instead of purchasing two policies, paying two policy fees, and keeping track of two payments, why not purchase one policy with combined benefits for you and your spouse? Not only will this strategy save you money, it will also provide you with more options down the road.

    OneAmerica's long-term care insurance products are available in every state except for New York. To learn more about OneAmerica, or to instantly compare life insurance rates from more than 50 providers, use our online quoting tool below or call us at 855-247-9555.

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      Additional Benefits that OneAmerica's Products Can Provide

      Every long-term care policy has what's called an "elimination period." This is a qualifying period of 30 to 180 days that must pass before your insurer will cover the cost of your long-term care expenses. With most insurance providers, these days must be in succession.

      With Care Solutions from OneAmerica, you will automatically accumulate days towards your policy's elimination period if you need qualified nursing care while your policy is active. Your condition doesn't have to be permanent to access your benefits either.

      Do You Have An Annuity that Is Outside of It's Cash Surrender Period?

      Instead of paying taxes on your earnings when you withdrawal your money, you can use a 1035 exchange to avoid the IRS and pay for your long-term care coverage instead. With a single pay policy, you can pay off your policy in one large payment and legally avoid the capital gains.

      Are You A Business Owner or Do You Own A C-Corp?

      Did you know that the cost of your long-term care insurance serve as a tax write-off for your business? If your business has employees, you can also legally discriminate which of them will receive long-term care insurance as a company provided benefit.

      Do You Plan To Retire in the Next 10 to 20 Years?

      With OneAmerica, your long-term care insurance policy can be structured to be paid off over a period of 10 to 20 years. This strategy allows you to focus on paying for your policy during your income earning years so you won't have to worry about the added expense once you're retired.

      To learn more about long-term care insurance and the benefits it can provide for you or your business, give us a call today, toll-free at 855-247-9555. All of our licensed agents have at least 10 years of experience and we're happy to answer all of your questions.

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        Who Is Eligible for One America's Long-Term Care Insurance?

        If you are between the ages of 40 and 85, OneAmerica may have the best long-term care policy for you. They offer the most-lenient underwriting guidelines in the industry, which makes them the ideal company for people with serious health concerns.

        Here are some of the health issues that won't automatically prevent you from qualifying for a long-term care policy from OneAmerica. It's important to note that some of these issues will result in your application being declined with other insurance companies:

        • Well-Controlled Type I or Type II Diabetes
        • History of a Stoke (with No Residuals) after 12 Months
        • Applicants that are more than 100 Pounds Overweight
        OneAmerica is also extremely lenient with minor health issues including elevated cholesterol and high blood pressure. In some situations, they will even offer their "standard" non-tobacco rate class to applicants that smoke cigarettes.

        How Do I Apply for a Long-Term Care Policy from OneAmerica?

        Applying for long-term care coverage from OneAmerica is simple. It only takes about 5 to 10 minutes to apply over the phone and schedule your telephone interview. You can start today by calling us toll-free at 855-247-9555.

        The interview takes usually takes about 45 minutes to complete, and for roughly half of OneAmerica's applicants, no exam is required for an approval. If you have some health issues, the company may require an exam to ensure that your condition is under control.

        At JRC Insurance Group we work with more than 50 top-rated life insurance providers and OneAmerica company offers some of the most lenient underwriting guidelines in the long-term industry. Their products also include valuable benefits for the consumer.

        To learn more about the OneAmerica company, or to review your options for long-term care insurance, please give us a call today. You can also can request a free quote online below to instantly compare quotes from dozens of top-rated life insurance providers.

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        Written by:

        Clifford Pendell

        Clifford Pendell

        Managing Partner and Co-founder

        Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.

        Expert reviewed by:

        Louis Lopes

        Louis Lopes, CLU ChFC

        Chartered Life Underwriter, Licensed Life and Health Agent

        Louis has been in the insurance business for over 30 years. He specializes in “high risk” cases as well as more complex coverages for long term care, disability, and estate planning.

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