Updates to LTC Policy Dating Process and Commission Timing

Mutual of Omaha is committed to providing you a product portfolio that meets the needs of your clients. With this goal in mind, we have made the following changes to get your LTC policies issued efficiently. Currently, compensation is paid on LTC13 policies once premium has been collected and the policy is in force, regardless of any outstanding Post Issue Requirements (PIRs). Beginning February 23, 2020, compensation will now be paid at the time all PIRs are received and the case is considered placed. Applications signed on or after this date will be effective on the date the policy is
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

TLE e-App Updates

Important TLE e-App Transition Update Beginning Wednesday, January 22, 2020, you will begin seeing a blocker page if you try to start a new application in the TLE – Traditional e-App on iPipeline. You can no longer start new applications using the TLE – Traditional e-App. To start a new e-App, please use the updated e-App, TLE – Point of Sale Decision. The blocker page will include the instructions below for completing a new application: Go to the Case Information page Select the “Find Available Products” button Select “Term Life Express Point of Sale Decision” as the product Complete the
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Tax Advantages of Disability Income Insurance

The taxation of disability income insurance is straightforward – especially in individual cases. However, surprises can occur if policies are set up incorrectly as unexpected taxation of a benefit reduces available funds at precisely the wrong time. Individual DI In terms of taxes, individual DI is rather clear cut. Premiums paid by individual policyholders are non-deductible as they are not considered an eligible medical expense on Schedule A. Also, benefits are not included as income and therefore not taxable. Employer-Paid DI In disability income cases where a business entity is involved, the tax implications are varied. Here are some common
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Categories: Disability Income Insurance, Industry News, and Mutual of Omaha (& Affiliates).

Medicare News – Omaha Family of Companies

Medicare Supplement: High Deductible G in HI, IN, ME, PA Effective January 24, 2020 the new High Deductible Plan G will be available for sale in Hawaii, Indiana, Main and Pennsylvania.   Rate Adjustment-MS and NC United of Omaha policy holders will notice a rate adjustment for the states of Mississippi and North Carolina.   Florida Med Supp Outline Change With MACRA changes, the Florida outline of coverage now only displays monthly rates.   Spotlight on Dental- Taking an App It’s easy to give your clients the dental coverage they need and it starts with the application.   Explanation of
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Categories: Industry News, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).