Mutual of Omaha LTC Compensation Timing Update
To better align with other product lines, beginning June 5, 2020, Mutual of Omaha compensation for LTC policies will be paid at the time all Post Issue Requirements (PIRs) are received and the case is considered placed.
As a reminder, below are the PIRs that must be received to place the policy in force:
- Outstanding Premium – total premium due 60 days from issue
- Policy Delivery Acknowledgement (PDA) – required in WV, LA, SD, NE, IL
- Amendments – required when application response is missing/changed, when policy is issued with different risk class or benefits than applied, and when benefit changes are made after policy issue.
Click below for additional details and PIR follow-up procedures:
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