CASE STUDY: OneAmerica’s Single Life LTC Preferred Rates Win the Day
Take a look at this case study!
Carrier: OneAmerica
Product: Assetcare (Asset-based LTC)
Target Premium: $73,173 Single Premium
CLIENT PROFILE
77-year-old widower seeking to secure his Long-Term Care funding plan.
The Client’s age presented a product selection challenge, and his status as a widow precluded any couples discount or preferred pricing.
SOLUTION
OneAmerica AssetCare
RESULTS
Given the Client’s age and limited premium budget, marital status, case design elements and underwriting details, many of the currently available products were excluded based on issue age alone.
With that step complete, attention turned to the remaining products and optimizing the design, seeking the maximum monthly benefit with the following parameters:
$73,173 Single Pay
4-Year Benefit Period
No Inflation
Rather than running all products without a Couples Discount or at Standard rates, a single carrier was identified that could offer Preferred pricing to a widower: OneAmerica
That advantage translated into a monthly benefit that outpaced competing carriers by over $410, an increase of over 14%.
This underwriting advantage allowed OneAmerica to place the case with a $73,173 single pay and a monthly benefit of $3,249, bolstering the Client’s LTC funding strategy.
Reach out to your Watermark Life Specialist for any advanced product, strategy or solution needs like this one!