The State Life Insurance Company has revised a life insurance policy designed for customers who want to use the policy to fund long term care.
State Life, a unit of OneAmerica Financial Partners Inc., Indianapolis, says it has updated the 20-year-old Asset-Care whole life policy to accommodate the new 2001 Commissioners Standard Ordinary mortality table.
The company also has added benefits to the policy.
New LTC features include caregiver training benefits and supportive equipment benefits.
State Life also has added an ExpressUW underwriting process, which could cut new business processing time by about 70%, the company says.