OneAmerica is a leading provider of life insurance products, including term and whole life policies. The company offers a wide range of educational materials and tools on its website to help consumers make informed decisions about their life insurance needs.  Unfortunately, information on its website about OneAmerica’s individual life insurance policies is somewhat limited, making it difficult to compare the company to other insurers. Fortunately, since OneAmerica is one of the top providers of whole life insurance, we feel very comfortable sharing information about OneAmerica. 

About OneAmerica Life Insurance Company

  In 1877, OneAmerica insurance company was founded with the mission of providing coverage for families and employees in need after the loss of a family member or an injury on the job.  The company also provides retirement solutions, annuities, and long-term care insurance alternatives. With nearly a century and a half’s worth of experience in the insurance industry, OneAmerica is dedicated to helping its policyholders secure a bright future. Currently, OneAmerica is one of the most trusted life insurance companies in the United States. With an AA- rating from Standard & Poor’s and an A+ rating from A.M. Best, they are a top-rated company. They have more than $6 billion in insurance in force and pride themselves on their 93% customer retention rate. OneAmerica has a long history of providing financial stability and positive growth opportunities for its policyholders. The company offers a wide range of products and services that are designed to meet the needs of individuals and businesses. OneAmerica has built a strong reputation as a dependable insurance provider and is well-positioned for continued success in the future.

OneAmerica’s Insurance and Financial Products

Like many of its competitors, OneAmerica offers a complete portfolio of life insurance and financial products for individuals and businesses:
Individuals and Families Businesses
Life Insurance Life Insurance
Annuities Disability Income Insurance
Long-Term Care Retirement Plans
Workplace Benefit Plans Group Ancillary Plans
Retirement Plans Claims Management

Individual Life Insurance Products

As a leading life insurance carrier, OneAmerica is one of the small groups of life insurance companies that offer a more complete portfolio of life insurance products. Whether your need is an affordable death benefit or if you prefer a life insurance retirement plan (LIRP), OneAmerica has the product on hand that will provide you with solutions.

Whole Life Insurance

Many individuals and families choose whole life insurance for lifetime insurance protection and to create a retirement plan that will provide a considerable stream of tax-exempt income. In fact, a participating whole life insurance policy guarantees a growing cash value that policyholders can use for any reason during their lifetime. Through the considerable cash accumulation and guaranteed death benefit, OneAmerica’s whole life insurance product can deliver at least three very important financial solutions:
  • Withdrawal strategies for when you retire:
Whole life insurance can be a powerful tool to help you meet your retirement income goals. When used in conjunction with other retirement assets, your whole life can potentially increase your retirement income by 30% to 50%.
  • Pension Solutions:
When a retired employee passes away, their pension plan can provide continuing retirement income for a surviving spouse. However, this option often comes at the cost of reduced retirement income for the employee. When a spouse or family member dies, it is devastating. The last thing you want to worry about is money. However, survivor benefits can provide financial security during this difficult time. Learn how to structure survivor benefits with whole life insurance to gain flexibility, potentially pass more wealth to heirs, and the ability to choose from multiple survivor options.
  • Social Security Strategies
The death of a spouse can have a significant impact on the social security benefits of the surviving spouse. Social security offers survivor options, but these may be reduced or eliminated entirely depending on the circumstances. Whole life insurance can provide the necessary funds to make up for any loss of benefits.

Variable Universal Life Insurance

With a VUL insurance policy, you can have the best of both worlds – protection and the ability to accumulate cash value through participation in equity market investment options. This makes it an ideal way to help those you love to meet their ongoing financial needs in the event of your passing. Additionally, a VUL policy can also help you achieve your own personal financial goals throughout your lifetime. A Variable Universal Life Policy is a great choice for individuals who may be looking for:
  • Lifetime life insurance protection
  • Financial choices to accumulate wealth
  • Flexibility – life events happen to almost everyone and your VUL policy has the flexibility to adjust to your needs.
  • Tax benefits – A VUL insurance policy provides the potential to accumulate significant cash within the policy via your ability to invest in subaccounts that are tied to equity markets as you accumulate a tax-deferred benefit.

Term Life Insurance

Although many individuals get group term life insurance through their employers, a group policy will generally fall short of providing a large enough death benefit that can replace your income in the event you die unexpectedly.  For this reason, it makes good financial sense to add coverage from an individual term policy to enhance the coverage that will be needed by your surviving loved ones. All OneAmerica term insurance policies offer:
  • Extremely affordable rates
  • 10, 15, 20, and 30-year term periods to choose from
  • Level premiums for the duration of the policy
  • Guaranteed death benefit for the duration of the policy
  • Tax-free death benefit

The Bottom Line

  Being in business since 1877 and having high ratings and an outstanding reputation in the insurance industry are great reasons to consider OneAmerica. But even more than that is the company is a mutual insurance company which means the policyholders own the company. This means that instead of providing its to stockholders, the annual profits are divided among its policyholders.

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