The Republican lawsuit targets reinsurance that helps insurance companies provide universal coverage without accounting for pre-existing conditions.
INDIANAPOLIS, Feb. 23 /PRNewswire/ -- More than one year after The State
Life Insurance Company(R), a OneAmerica company, purchased the Financial
Services division of Golden Rule, the benefits from the acquisition are very
apparent. With sustained sales, phenomenal employee retention and the
successful release of Care Solutions (a suite of life insurance and annuity
products with long-term care benefits) in 22 states, company leadership has
stated that this transition has been the smoothest in OneAmerica's history.
When State Life closed on the sale of Golden Rule's Financial Services
division (GRFS), it was the largest acquisition ever for the OneAmerica
enterprise. One year ago, nearly 100 employees moved from Golden Rule's
headquarters on Indianapolis' northwest side into the OneAmerica Tower in
"We not only acquired the most competitive portfolio of long-term care
solutions and its assets, we also inherited the extraordinary employees behind
this innovative product line," said Dayton Molendorp, OneAmerica President and
CEO. "This addition to the OneAmerica family is one that has added significant
value to our policyholders while aligning with our strategic growth plans."
This success is a direct result of the careful and comprehensive planning
of a group who devoted much of their time and energy to integrating the new
team. "We had it set up so that all GRFS employees had to do was drive to a
different building," said Joe Pearson, OneAmerica vice president, strategic
For GRFS employees, the benefit of coming to State Life is more evident
every day. "Because of the incredible support structure at OneAmerica, we're
better positioned to grow our business," said Richard Merrill, President of
State Life. "We're taking full advantage of the remarkable administration,
systems and investment experience available to us."
More exciting milestones are expected in 2007. Among the most critical is
continuing the momentum of releasing Care Solutions in additional states.
Plans are also in place to hire more sales staff to pursue new and exciting
About State Life
With the acquisition of Golden Rule Financial Services (GRFS) division in
October 2005, The State Life Insurance Company(R) is now the exclusive
wholesaler of the Care Solutions portfolio, including: Asset-Care(R) (life-
based LTC), Annuity Care(R) (annuity-based LTC), ImmediateCare(R) (immediate
annuity for individuals currently receiving long-term care) and Legacy Care(R)
(senior-focused deferred annuity). These products are still issued through
Golden Rule in states where the State Life portfolio has not yet received
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN.
The companies of OneAmerica can trace their solid foundations back more than
125 years in the insurance and financial services marketplace.
OneAmerica's nationwide network of companies offers a variety of products
to serve the financial needs of their policyholders and other clients. These
products include retirement plans, products and services; individual life
insurance, annuities, long-term care solutions and employee benefits. The goal
of OneAmerica is to blend the strengths of each company to achieve greater
The products of the OneAmerica companies are distributed through a network
of employees, agents, brokers, and other distribution sources who are
committed to maximizing value to our policyholders by helping them plan to
meet their financial goals.
Contact: Jessica Mace
CONTACT: Jessica Mace of OneAmerica, +1-317-285-4168, Jessica.firstname.lastname@example.org