The Indianapolis-based firm has added a three-year Acceleration of Benefits (AOB) option for both individual and joint policies, moving beyond the previous two-year limit. This adjustment allows policyholders to better calibrate their coverage against death benefit goals, potentially ensuring that the payout equals or exceeds total premiums paid. Bud Graessle, senior vice president of ILFS distribution and product development, noted that these changes provide financial professionals with the tools to tailor solutions for diverse estate and retirement priorities.
Beyond basic care coverage, the company is refining its Annuity Funding Whole Life (AFWL) solution. This product allows clients to transition qualified retirement assets into a policy that combines life insurance with long-term care benefits. To support this, OneAmerica Financial is rolling out new 5-year and 20-year annuity income riders, supplementing the existing 10-year option. These choices offer increased flexibility for managing tax considerations and distribution timelines, catering to individuals looking to integrate inherited IRA assets into their broader financial planning.
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