OneAmerica® Introduces First Fixed-Indexed Annuity with Long-term Care Benefits

The State Life Insurance Company, a OneAmerica company, is pleased today to announce the launch of Indexed Annuity Care, the first and only fixed-indexed annuity that can also provide benefits for long-term care (LTC) expenses.

“The Care Solutions portfolio has been at the forefront of the asset-based long-term care marketplace for many years, and that leadership continues with the introduction of Indexed Annuity Care,” said Chris Coudret, executive vice president, State Life. “Indexed Annuity Care uniquely combines the up-side potential offered by investing in a market index with the same set of distinguishing benefits found in our other long-term care products that have been serving customers for twenty-five years.”

Consumers can pay a single premium to obtain Indexed Annuity Care, which in turn offers built-in leverage for qualifying LTC expenses such as assisted living, home care, adult day care, respite, hospice and nursing home care. In addition, optional lifetime LTC insurance rider benefits can be added to the contract—with premiums that are guaranteed never to increase. Indexed Annuity Care owners can also enjoy income-tax free withdrawals and benefits for qualifying LTC expenses thanks to provisions of the Pension Protection Act (if funded from after-tax premium sources).

Another product feature that the market has come to expect from the Care Solutions asset-based LTC line up—joint benefits—is also available. Indexed Annuity Care can provide benefits to two spouses from a single policy, a very attractive option for today’s pre- and post-retirees.

“Individuals can both grow and protect their retirement assets with Indexed Annuity Care,” said Coudret. “The potential for growth is especially appealing when paired with a guarantee that your safety net for long-term care insurance benefits will never lose value.”

The value of an Indexed Annuity Care policy can grow through either a fixed interest rate or by linking the interest potential to the S&P 500 Index. Information about the four crediting strategies available, how and when interest is credited and options for accessing the policy’s cash value are outlined in the Indexed Annuity Care brochure (below) for consumers.

“We work hard to prepare for and enjoy retirement,” said Coudret. “Indexed Annuity Care can help protect your quality of life and remove the worry of how to pay for long-term care from you and your loved ones.”

Indexed Annuity Care is the newest addition to State Life’s full suite of market-leading asset-based long-term care offerings.

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About State Life
The State Life Insurance Company, a OneAmerica company, is focused on providing asset-based long-term care products. State Life is a recognized leader in providing these products, which utilize life insurance, fixed-interest deferred and immediate annuities. The company’s extensive Care Solutions portfolio of products helps consumers prepare for future long-term care needs by helping to protect their assets.

Indexed Annuity Care is underwritten and issued by The State Life Insurance Company, Indianapolis, Indiana. Policy Form Number Series SA36, R529, R529 PPA, R530, R530 PPA, ICC14 SA36, ICC14 R529, ICC14 R529 PPA, ICC14 R530, ICC14 R530 PPA are not available in all states or may vary by state. All guarantees are subject to the claims paying ability of State Life.

Visit the OneAmerica Newsroom or follow @OneAmericaNews on Twitter for more information.

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