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OneAmerica Long Term Care Insurance Review


ConsumersAdvocate.org Rating: 4.2 / 5 (Excellent)
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OneAmerica is a financial services organization that provides insurance and other products to individuals and businesses and is part of a group of mutual companies owned by American United Mutual Insurance Holding Company (AUMIHC). Through their underwriting companies, they offer insurance products that can include long-term care benefits. The company has headquarters in Indianapolis, Indiana.
 
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Call: (866) 788-3932

How is OneAmerica rated?

Breakdown

4.5/5
Benefit Limits
4.0/5
Policies & Coverage
4.0/5
Customer Service

Overall Rating: 4.2 / 5 (Excellent)

Though OneAmerica does not have a standard long-term care insurance policy, it offers LTC benefits with other insurances, which can meet their members' needs just as well. General information provided by the company indicates these benefits include the coverage an average LTC insurance policy has.

Their underwriting company obtained financial strength ratings that place it high on the trustworthiness scales. Both companies are accredited by the Better Business Bureau and have A+ ratings.

Policies & Coverage

Policies & Coverage - 4 / 5

OneAmerica's underwriter, the State Life Insurance Company, specializes in asset-based long-term care solutions and offers two options for long-term care insurance. Members can choose between a life insurance policy or an annuity policy that include long-term care benefits. Unfortunately, the company does not list a stand-alone long-term care insurance. For information about available discounts and insurance riders, members will have to get in contact with the company's financial professionals.

Their life insurance with asset-based LTC benefits policies provide members with the option to use their existing assets as a one-time-only premium payment. They can also opt for guaranteed annual premiums that will not increase. Their LTC benefits included with annuities only feature the single premium payment option.

Both types of policies can be purchased for one or two people and could include care for expenses incurred for in-home care, adult day care, nursing home or assisted living services. These policies also have the potential to include tax benefits when used for qualifying long-term expenses. Other benefits include coverage for support equipment, hospice care, caregiving training, and more.
Policy Types
Hybrid Life and Long Term Care
Tax Qualified
Types of Covered Care
In-Home Care
Assisted Living / Adult Day Care
Nursing Home
Hospice Care

Claims & Benefits

Benefit Limits - 4.5 / 5

As OneAmerica is not the insurance provider itself, detailed information like daily limit amounts, benefit duration periods, and elimination periods for the policies' long-term care benefits is not available. Members who wish to learn more about these policies are advised to consult their insurance agents or producers.
Eligibility Requirements
Activities of Daily Living Limitations

Financial Strength & Ratings

Financial Strength - 4 / 5

OneAmerica's long-term care insurance policies, contracts, and riders are underwritten by The State Life Insurance Company, which has headquarters in Indianapolis, Indiana. This company received an A+ rating from AM Best and an AA- rating on Standard and Poor's on account of their ability to fulfill their insurance obligations. It is not currently rated by Moody's.
Underwriter
The State Life Insurance Company
AM Best Financial Rating
A+
Standard & Poor's Financial Rating
AA-
*The above information reflects the financial strength of the underwriter of the OneAmerica long term care insurance policies: The State Life Insurance Company.

OneAmerica Reputation

Customer Service - 4 / 5

OneAmerica is accredited by the Better Business bureau and holds a BBB rating of A+. Their profile can be found under the name OneAmerica Securities, Inc., which lists the State Life Insurance Company, their long-term care insurance underwriter, as one of their related businesses. The company's underwriter is also BBB accredited and holds a rating of A+ as well. Both company have customer review ratings of 1 out of 5.
BBB Rating
A+

Contact & Additional Information

Year Founded
1969
Homepage URL
https://www.oneamerica.com
Headquarters Address
One American Square P.O. Box 368, Indianapolis, IN, 46206

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Long-term care benefits provided with life insurance & annuities

  • Intended for adults between the ages of 45 and 79

  • Individual and joint policy options available

  • Members can receive in-home and/or facility care
  • Coverage for hospice & respite care, caregiver training included
  • Accessible via Goldencare
(866) 788-3932
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