In the face of the COVID-19 public health crisis, Old American Insurance Company continues to take the necessary steps to ensure the health and safety of our policyholders, life insurance agents, associates and community. Throughout the last few weeks and in the weeks ahead, this will remain our No. 1 priority as we navigate this unprecedented situation.
During this time, Old American remains open for business as an “Essential Business,” here to serve our policyholders and continue to offer financial protection. While we stay open, Old American is committed to doing what is right in the interest of the health of our communities and we have taken steps to reduce the spread of this virus. We are encouraging social distancing on a large scale by reducing face-to-face interactions and having many of our associates work remotely. We have also suspended all non-essential travel and are restricting outside visits to our home offices.
During times of hardship and uncertainty, Old American has always stood strong. Since our founding in 1939, we have stood by our mission of providing peace of mind to the senior market and enhancing the quality of life of our policyholders and their loved ones. We will continue to operate on our foundation of integrity and honest business practices now, and in the weeks, months and years to come.
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Old American Insurance Company remains dedicated to providing Peace of Mind to our policyowners. We understand that due to COVID-19, making a premium payment in the immediate future may be difficult for some. Old American responded by suspending policy terminations for lack of premium payment through June 15, 2020. Policy terminations will be suspended longer for residents of certain states (CA, NJ, OR, and NY) to comply with state mandated extensions.
We have reached the end of our suspension period with the exception of the states noted above with mandated extensions. Policies that have not paid the required premium will now be allowed to terminate. Please contact our office at 800-733-6242 by July 1, 2020, to discuss the options available for a policy that has terminated.