Annuity Care – Notices of Importance

Last week, I spoke about leverage and using Indexed Annuity Care as a funding strategy – what I am calling the million dollar annuity strategy.  Learn more about it at   https://fridayswithfisher.com/million-dollar-annuity/.  My “big ask” of you for the million dollar annuity strategy is to identify 3 or 4 annuity owners 75 or older who might be viable candidates for our leverage strategy then give us a call.

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Another big thing happened last week related to Annuity Care.  The guaranteed crediting rate for Annuity Care II was increased to 2.55 effective July 15.  This has a pretty significant impact on how Annuity Care II illustrates on the guaranteed ledger by simply stabilizing the account value as time passes.

In this example for a female, age 65 funded with $200,000 – you can see how this impacts the guaranteed accounts as well as the benefits. 

For more information on the Annuity Care II crediting rate changes, product information, or illustration assistance – please contact my internal Justin Fox at (844) 658-3725 or via email at justinfox.isp@oneamerica.com

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One last thing on the Annuity Care front … UNDERWRITING.

Remember, even with a base-only policy (the million dollar annuity strategy), there is a level of underwriting that the client must undergo. 

In every instance, the client must not possess a malady or take medication found on the Annuity Care Ineligible Condition list and in the Care Solutions Underwriting Guide.  There will also be a Medical Information Bureau (MIB) and drug script inquiries performed by OneAmerica’s underwriting team.

If a continuation of benefits rider is included with any policy, then a phone interview will be required in addition to the above actions. Again, if you have questions about the underwriting process for any Care Solutions product, please contact my internal Justin Fox at (844) 658-3725 or via email at justinfox.isp@oneamerica.com

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