OneAmerica Introduces New Indexed Dividend Crediting Option Rider for Whole Life Policies

INDIANAPOLIS, Feb. 6 -- OneAmerica Financial Partners, a provider of insurance and financial services, issued the following news release:

OneAmerica today introduced the Indexed Dividend Crediting Option (IDO) Rider - a unique product that allows Legacy and Legacy 121 policyholders to participate in market upswings without sacrificing whole life guarantees, including a steady cost of insurance and increasing cash value.

With IDO, a policyholder may earn up to double their dividend in any given year by selecting all or a portion of their dividend to be connected to S&P 500 performance. If the market underperforms, all whole life guarantees remain in place, and the dividend can never be negative.

"OneAmerica is the only company to offer a potential increased dividend based on an external index, and we are proud to introduce this innovative product to the marketplace," said Pat Foley, President of Individual Life and Financial Services at OneAmerica. "Financial professionals are always looking for a way to accelerate cash growth on whole life policies. IDO offers this opportunity without imposing extra premiums or sacrificing the guarantees that make whole life an attractive option."

Here's how it works:

Dividends are scheduled to grow each year, based on policy value and the length of time the policy is kept in force. If a policyholder elects to index all or part of their dividend, the dividend will grow or decrease based on market performance.

If the market performs well and a policyholder fully participates in IDO, they could earn double their dividend. If market performance is positive, but does not meet the level for doubling, then the dividend earned is determined by an index factor. If market performance is negative, the dividend has down-side protection and will never be negative. Policyholders may choose to allocate a portion of their dividends to IDO, and the remaining portion will earn the scheduled dividend.

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