> PCS II with Stable Premium Option > Choice 1 with Stable Premium Option As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Virginia has now allowed the following increases: Virginia Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 39% 99% PCS I 55% 72% PCS II 55% 72% Choice 1 73%* 55%** 83%* 72%** * This rate increase applies to policies issued before 10/1/2003
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In-Force Rate Action Announcement: Virginia (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Virginia has now allowed the following increases: Virginia non-AARP Product Series Increase Percentage Privileged Choice 24.8%* 33.9%** Classic Select 24.8%* 33.9%** Virginia AARP Product Series Increase Percentage Privileged Choice 33.9%** Classic Select 33.9%** * These rate increases apply to policies issued before 10/1/2003 ** These rate increases apply to policies issued on or after 10/1/2003 Communications Timeline Servicing agents will receive a list
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TeleUW APPROVAL CODE REQUIRED on AnnuiCare App Submissions
For All AnnuiCare® Apps Submitted: APPROVAL CODES ARE REQUIRED We want the new AnnuiCare® process to go smoothly for you and your clients. Please note these important changes that began in June: The pre-interview checklist is the first step in determining if you should proceed to the teleunderwriting interview. The teleunderwriting interview is NOT OPTIONAL. This step, where the applicant participates in a telephone interview at your office, is required in our new process. Call 888-390-5824 to conduct the interview. If the applicant passes, the interviewer will give you an approval code. Be sure to write the approval code
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Holiday Telephone Solicitation Ban for the Month of September 2019
Please be aware of the following holiday telephone solicitation ban for the month of September. On Monday, September 2, 2019: Alabama, Louisiana, Mississippi, Rhode Island and Utah prohibit unsolicited marketing calls to residents in observance of Labor Day Holiday Telephone Solicitation Ban for the Month of September 2019 #goldencareagent #mutualofomaha
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October 1st Updates for 2017 CSO Table Changes
On October 1, 2019, United of Omaha will be modifying our GUL and GUL Express products due to the implementation of the 2017 Commissioners Standard Ordinary (CSO) Tables. Product Impacts Guaranteed Universal Life (GUL) The product will be updated with the new CSO tables, resulting in a mix of increases and decreases in premiums. The Disability Continuation of Planned Premium Rider will be introduced on GUL in California at the same time. Guaranteed Universal Life Express (GUL Express) The product will be updated with the new CSO tables, which has resulted in decreases in the lifetime guarantee premiums. We will
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What are LTC Post Issue Requirements?
Below is an illustration of the typical LTC application process: STEP 1 Application Submission STEP 2 Risk Assessment STEP 3 Final Action STEP 4 Policy Delivery STEP 5 PIR Submissions You may think that your work is complete by Step 4: Policy Delivery; however, in some situations post issue requirements (PIRs) are needed. Awareness of potential PIRs will help you maintain customer satisfaction as well as monitor your cases until final policy delivery. So… What is a Post Issue Requirement? PIRs may include one or more of the following items: Outstanding Premium Total premium is due 60 days from
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Mandatory Phone Health Interview Removed on TLE and GULE
Want another reason to sell TLE and GULE? We no longer require a mandatory phone health interview (PHI) on our Term Life Express and Guaranteed Universal Life Express products for face amounts between $250,001-$300,000. A mandatory PHI will not be required, at any face amount applied for, effective August 1, 2019. Applications signed prior to August 1, 2019, with a face amount of $250,001-$300,000, will continue to have the mandatory PHI Applications signed August 1, 2019 and later, will no longer require a mandatory PHI to be completed Now the application process can go even faster and your clients only
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Medicare News – Omaha Family of Companies
Medicare Supplement: Med Supp In-force Only Rate Adjustment Please view the upcoming In-force Only Rate Adjustment in West Virginia. Med Supp Modernized September Rate Release Please view the upcoming rate release in DE, ME, NC, and VA. MACRA is here Webinar Questions and Answers During each broadcast, you can ask questions through the Q&A board. Here are the questions we received during the August 6th webinar, MACRA is Here. Medicare Advantage and Prescription Drug Plans: The Mutual of Omaha CareAdvantage Difference Mutual of Omaha CareAdvantage plans offer value based, coordinated care that puts your clients at the
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Get Your Clients Cash When They Need it the Most
Many of today’s health insurance plans come with a high deductible. If you have clients with these plans, talk to them about how our Critical Advantage℠ Portfolio can help. Critical Illness, Cancer and Heart Attack/Stroke products all offer a onetime cash benefit when diagnosed with a covered condition. This benefit can be used to cover your client’s high deductible, or any out of pocket expense they may have. Plus, the policies have no elimination period, so your clients get paid right away. See other tips on selling the products in the Critical Advantage Portfolio here. If you have questions,
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It’s Almost Life Insurance Awareness Month
It’s almost time for those of us in the industry to celebrate what we do every day—help clients protect their family home, their savings, their way of life and their plans for the future. It’s also a great time for your agents to start a conversation about the value of life insurance-whether they’re meeting with a new prospect or conducting an annual review with an existing client. Life insurance and retirement planning Any discussion about life insurance should include its role in retirement planning. Our Map Your Course materials can help. This suite of materials helps your agents talk with
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