The State Life Insurance Company has developed a new underwriting process to speed up service to clients and producers for of its life insurance policy with long term care options.

The new process, called ExpressUW, coincides with a recent upgrade of its Asset-Care product, says State Life, a unit of State OneAmerica Financial Partners Inc., Indianapolis.

ExpressUW underwriting takes 5 to 7 business days, a significant drop in wait timesfrom its previous underwriting processes, which took up to 2 months, the company says.

State Life also says it has expanded Asset-Care’s client benefits and increased compensation for producers.

As with previous versions of Asset-Care, the product offers guaranteed premiums, guaranteed benefits and growth of their cash value, the company says

Consumers who never need money for LTC expenses can pass their policy on as a death benefit. Those that ultimately that need LTC can access the benefit to cover those expenses on a monthly basis, the company says.

The new Asset-Care is available in 46 states.