OneAmerica Transfer

[navigator]

Just wondering if anyone has any information on OneAmerica and their transfer process such as how long it takes or if they try hard to conserve etc..

Thanks!!

 

[Larry Tew]

How hard they try to conserve is more about the writing / servicing agent than the company. They all have peculiar hoops to jump through but be patient - it will get done.

 

[bboman23]

90% chance you won't be released. Search for Parker and Associates. It's the same company!

 

[goillini52]

90% chance you won't be released. Search for Parker and Associates. It's the same company!

https://www.oneamerica.com/

I think you're thinking of One Life America Bob.

 

[navigator]

Thanks!! I submitted some transfer paperwork to OneAmerica today (i havent worked with them before on a 1035) and the lady told me in 10 days they would send a "form" for the client to sign and once they get the form back they will then send funds within 20 days.. I have had companies send letters before needing a signature for a full surrender but not for a transfer.

 

[scagnt83]

90% chance you won't be released. Search for Parker and Associates. It's the same company!

He is talking about a 1035 transfer of funds. Not a producer contract.

And dont all IMOs have to release after a certain time period of non production?

 

[bboman23]

Oh I was thinking about the IMO! I was quick on that trigger!

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He is talking about a Direct Transfer of Qualified Funds. Not a producer contract.

And dont all IMOs have to release after a certain time period of non production?

That's not the IMO releasing. It's the company allowing the agent to move.

 

[scagnt83]

That's not the IMO releasing. It's the company allowing the agent to move.

Gotcha. Makes sense.

 

[bboman23]

Gotcha. Makes sense.

You mean I made a post that made sense? Woohoo

That doesn't happen often.

 

[scagnt83]

Thanks!! I submitted some transfer paperwork to OneAmerica today (i havent worked with them before on a 1035) and the lady told me in 10 days they would send a "form" for the client to sign and once they get the form back they will then send funds within 20 days.. I have had companies send letters before needing a signature for a full surrender but not for a transfer.

Are you sure this isnt a Qualified Plan you are dealing with transferring out of? They have their own forms the client must fill out and do not accept outside Direct Transfer forms or 1035s.