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April 25, 2003
Ohio National Enhances Level-Term Insurance Products

Cincinnati -- Ohio National Financial Services has enhanced its level-term life insurance products by introducing a new product for early planned conversions and lowering rates on its best-selling products.

Recap Term is a new 10-year guarantee rate policy that lets policyowners recapture all premiums paid on their term policy and apply it to a permanent Ohio National product. Recapturing is available if the term policy is converted to the new policy within a specified time.

"Recap Term is an idea that came from our sales force. It offers clients an innovative incentive to convert a term policy to a permanent plan,” said Carolyn Nightingale, Vice President, Marketing Support.

“Clients and producers are looking for products that add value in new and unique ways. Recap Term acknowledges the price value of term and enhances it by allowing policyowners to ‘recapture’ the premiums paid in the first five years when they decide to buy into the long-term benefits of a permanent policy,” Nightingale added.

Products in the new portfolio include the following features:

Lower rates – Greater savings are now available on 10, 15- and 20-year term policies.
Fully guaranteed level premiums – The premiums are guaranteed for 10, 15 or 20 years.
Conversion privileges – Products are convertible for the entire level premium period up to age 70 with two conversion options: expanded (offered with Plus products) and Basic.The Plus conversion option allows conversion to all Ohio National permanent products.
Six underwriting classes and four rate bands – The underwriting classes include the highly competitive Super Preferred Nonsmoker and Preferred Nonsmoker classes; rate bands including those at $500,000 and $1 million.

Term life insurance products are issued by and guarantees based on the claims-paying ability of Ohio National Life Assurance Corporation. Term Life Insurance Policy Form 92-TR-1 and any state variations.

Premiums are based on the age of the insured at nearest birthday and specified underwriting classification and is subject to change without notice. Premiums for issued policies may be different than a quote premium based upon actual underwriting classification. The premium stated in the policy is guaranteed to remain level for the term of the policy. The policy includes certain limitations during the first two policy years.

Product, product features and rider availability vary by state.  Issuer not licensed to conduct business in New York.

Susan McDonald
513.794.6325 (office); 513.633.1277 (mobile)

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©2017 Ohio National Financial Services, Inc.
Product Issuers: The Ohio National Life Insurance Company
and Ohio National Life Assurance Corporation
Registered Products Distributed by: Ohio National Equities, Inc.
Member FINRA
One Financial Way | Cincinnati, Ohio 45242