Has OneAmerica ever raised premiums on Asset Care policies?

No—and they can't. Asset Care premiums are contractually guaranteed at issue and cannot be increased. This is a fundamental advantage over traditional LTC insurance, where rate increases of 50-100%+ have devastated policyholders industry-wide.

Can I use Asset Care benefits for home care?

Absolutely. OneAmerica's "Total Care" benefit can be used for ANY type of qualified long-term care: nursing home, assisted living, memory care, adult day care, or home care. There are no separate benefit pools or reduced percentages for different care settings. You can even use the Cash Indemnity Benefit to pay a family member providing informal care.

What happens if I never need long-term care?

Your beneficiaries receive the death benefit—typically equal to or greater than your original premium, and it passes income-tax-free. You can also access cash value during your lifetime if circumstances change. With Asset Care, your money is never "lost" to the insurance company. This is the Three Doors promise: Live (LTC benefits), Die (death benefit), or Leave (cash value).

What's the minimum health requirement to qualify?

You must be able to perform all Activities of Daily Living (ADLs) independently and have no cognitive impairment at the time of application. Well-controlled chronic conditions like Type 2 diabetes, hypertension, and history of cancer (5+ years clear) are often approved. Conditions like Parkinson's, dementia, ALS, or recent stroke are typically declined.

Can my spouse and I share one policy?

Yes—and this is one of Asset Care's most valuable features. Joint policies offer a shared benefit pool that either spouse can access. If one spouse needs care, they can access the entire pool. If both need care simultaneously, they share. The flexibility protects the couple—not just individuals.

What triggers benefit payments?

Benefits are triggered when you cannot perform 2 of 6 Activities of Daily Living (bathing, dressing, eating, toileting, transferring, continence) for a period expected to last at least 90 days, OR when you have a severe cognitive impairment like Alzheimer's. A licensed healthcare practitioner must certify your condition and create a plan of care.

Can I fund Asset Care with IRA or 401(k) money?

Yes, through OneAmerica's Annuity Funding Whole Life (AFWL) structure. You transfer qualified funds into a OneAmerica annuity, which then pays premiums on your Asset Care policy over 10 years. This spreads the tax impact while immediately activating your LTC protection. It's particularly powerful for inherited IRAs that must be distributed within 10 years under SECURE Act rules.

How long does underwriting take?

Typical timeline is 4-6 weeks. The process includes an application, phone interview (with cognitive screening for ages 65+), medical records review, and potentially a paramedical exam for larger face amounts. Having your medication list and physician contact information ready can speed up the process.

OneAmerica Asset Care Review: Is It Worth It? (2025)

Key Metrics at a Glance

Leverage Ratio	3-5x	LTC benefit per premium $
Minimum Premium	$50,000	Single premium
Issue Ages	35-80	Best rates under 70
Premium Guarantee	100%	Can never increase
Death Benefit	Guaranteed	If LTC not used
Return of Premium	100%	After year 10

Three Doors Framework Applies

Three Outcomes. One Asset. You Stay in Control.

When you reposition assets into Asset Care, your money comes back to you or your family in one of three ways—guaranteed. The insurance company doesn't keep it.

Scenario	What Happens	Benefit	Who Gets It
Door 1: LIVE	You need LTC care	Benefits pay for your care (3-5x your premium)	You receive benefits
Door 2: DIE	You don't need LTC	Death benefit goes to your heirs	Family receives benefit
Door 3: LEAVE	You change your mind	Surrender value returned to you	You receive cash value

The Bottom Line: In every scenario, the money comes back to you or your family. You're not "betting against yourself"—you're planning for all outcomes.

Return of Premium Schedule

Unlike traditional LTC insurance, you never "lose" your premium. Here's what you'd receive if you surrendered the policy:

100%

85%

87%

89%

91%

93%

95%

97%

98%

99%

100%

85%

Yr 1

87%

Yr 2

89%

Yr 3

91%

Yr 4

93%

Yr 5

95%

Yr 6

97%

Yr 7

98%

Yr 8

99%

Yr 9

100%

Yr 10

100% of premium available after year 10. With Return of Premium rider, full premium available from day one (lower leverage ratio applies).

Leverage Ratios: The Numbers That Matter

This is THE number that matters. How much LTC protection do you receive for each dollar of premium? Asset Care consistently delivers among the highest ratios in the industry.

Female, age 60, 3% compound inflation

Premium Repositioned

$100,000

3.5xleverage

LTC Benefit Pool$350,000

Monthly Benefit$5,833/mo

Benefit Period60 months (5 years)

Death Benefit$100,000

Male, age 58, 3% compound inflation

Premium Repositioned

$150,000

4xleverage

LTC Benefit Pool$600,000

Monthly Benefit$10,000/mo

Benefit Period60 months (5 years)

Death Benefit$150,000

Couple, both 62, joint policy with shared benefits

Premium Repositioned

$200,000

4.5xleverage

LTC Benefit Pool$900,000

Monthly Benefit$7,500/mo each

Benefit PeriodShared pool (120 months total)

Death Benefit$200,000

Actual benefits vary by age, gender, health classification, and selected riders. These are representative illustrations—request your personalized quote for exact figures. • December 2025

Real World Scenarios

Is Asset Care right for YOUR situation? Here's who this works for—and who should look elsewhere.

Perfect Fit: The Asset Repositioners

Perfect Fit

David & Susan (Age 62 & 60): Have $200K in CDs earning 2.5% and an old whole life policy with $80K cash value. Both healthy, non-smokers. Main concern: LTC costs draining their retirement nest egg and burdening their adult children.

How Asset Care Helps:

They execute a tax-free 1035 exchange of the whole life policy ($80K) and add $120K from CDs into a joint Asset Care policy with shared benefits. Result: • Total LTC Pool: $900,000+ (4.5x leverage) • Death Benefit: $200,000 (if LTC unused) • Monthly Benefit: $7,500/month EACH • Benefit Period: Shared 120-month pool • Either spouse can use the entire pool if needed

Outcome:

Transformed $200K of underperforming assets into $900K of LTC protection with zero tax consequences. The CD interest they "gave up" was $5K/year—the peace of mind and family protection is worth exponentially more.

Poor Fit: Monthly Budget Only

Look Elsewhere

Margaret (Age 67): Has $800/month she could dedicate to LTC coverage but no significant lump sum assets to reposition. Wants maximum LTC protection for her budget.

Why It's Not Ideal:

Asset Care requires a minimum $50,000 single premium. While a 10-pay option exists (~$6,500/year), Margaret's $9,600/year budget would actually purchase MORE LTC coverage through traditional insurance. The Numbers: • Asset Care 10-pay: ~$3,200/month LTC benefit • Mutual of Omaha Traditional: ~$5,500/month LTC benefit That's 72% more coverage through traditional—significant.

Better Alternative:

Traditional LTC policy from Mutual of Omaha with 3% compound inflation. Her monthly budget buys substantially more coverage, and if she never needs care, she could add a Return of Premium rider.

Edge Case: Health Question Marks

Proceed Carefully

Robert (Age 70): Has $150K in CDs ready to reposition. Controlled Type 2 diabetes (A1C at 7.1), mild hypertension (managed with medication), and had a stent placed 4 years ago. Interested in Asset Care but worried about qualifying.

Analysis:

Robert's conditions are common but require careful navigation. OneAmerica uses full medical underwriting with a cognitive assessment at his age. Likely outcomes: • Diabetes + controlled BP: Possibly approved with standard or Table 2 rates • Cardiac history (stent): May trigger additional review—4 years is borderline • Cognitive screen: Required at 70+, typically straightforward if no concerns The unpredictability means Robert shouldn't put all eggs in one basket.

Our Recommendation:

Apply simultaneously to OneAmerica Asset Care AND Lincoln MoneyGuard. Lincoln is sometimes more lenient with cardiac history. Have Mutual of Omaha traditional LTC as a backup option. Do NOT delay—conditions can worsen and eliminate all options.

Underwriting Reality

OneAmerica uses full medical underwriting. They're thorough but fair—well-controlled conditions often get approved, but don't expect automatic acceptance.