As COVID-19 cases increase within the United States and around the world, Mutual of Omaha is issuing the following underwriting guidance on new and pending applications for life and health products, effective immediately (Note: Health products include Accidental Death, Long-Term Care, Disability Income, Critical Illness, Cancer, and Heart Attack & Stroke. This does NOT apply to Med Supp applications.): If the proposed insured or any member of his or her household has traveled or resided outside of the United States within the past 30 days, the application will be postponed until 30 days following their return. If the proposed insured
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Term Life Answers Pricing Changes
It’s important that we continually review our product portfolio and make decisions that are in the long-term best interest of our policyholders and our distribution partners. Effective April 1, 2020, we will be updating our Term Life Answers (TLA) product pricing for new issue policies. Our TLA product continues to provide clients with value and we will continue to offer these competitive product features: Age Last Birthday Underwriting FIT Underwriting Credit Program Accelerated Underwriting Program Flyer (for drop ticket applications only) Conversion Priviledges No-Cost Waiver of Premium for Unemployment Rider In addition to the product features above, effective April 1,
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Our Underwriting and Case Management Staff are Here for You
Our LTC Underwriting and New Business teams are fully staffed, working remotely and actively accepting and processing your LTCi applications. The e-Application located on Sales Professional Access remains the best means to submit an application and reduce amendments. View the Quick-Start Guide to get started. Our vendors are working to capacity with no delays in issuing or mailing policies; however, due to social distancing, self-imposed quarantine and prioritizing patient care, we are experiencing some delays in face-to-face interviews and obtaining APS’s. That said, we will remain flexible by working with you on keeping your cases open and processing your business.
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Important Information Regarding Underwriting and New Business
Underwriting and New Business have received several inquiries for processing alternatives in light of the current situation. This article provides information on the following topics: NEW: We are now allowing fully-underwritten IUL policies to be submitted using Speed eTicket (drop ticket) and using Accelerated Underwriting The status of our new business vendors Accepted ways of accepting electronic signatures for new business processing Email submission of applications and requirements Policy output options NOTE: This information pertains to our Life and Health product lines, excluding Long-Term Care, Medicare Supplement and Prescription Drug Plan (PDP). We will engage our partners at LTCG for
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“CMS waives nurse-aide training, certification requirements”
“CMS waives nurse-aide training, certification requirements,” by Danielle Brown, McKnight’s LTC News Quote: “Nursing homes in need of more direct-care workers have received a big boost from federal regulators. A rule that says new aides cannot work longer than four months without becoming certified has been waived by the Centers for Medicare & Medicaid Services. The vital staffing decision was a part of a set of blanket waivers applauded by operators, many of whom are facing staffing shortages as the pandemic continues to create thousands of new COVID-19 patients every day.” LTC Comment (from Stephen A. Moses, President,
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Clippings, Industry News, and Long-Term Care.
“Moderate drinkers have lower amyloid-beta levels, study finds”
“Moderate drinkers have lower amyloid-beta levels, study finds,” by Alicia Lasek, McKnight’s LTC News Quote: “Individuals who moderately consume alcohol throughout their lifetimes show fewer deposits of dementia-associated amyloid-beta in brain scans, according to Korean researchers. Investigators interviewed more than 400 dementia-free men and women from age 56 to 90 about their drinking habits. All participated in brain scans, physical exams and cognitive testing. Participants who drank one to 13 standard drinks a week had a 66% lower rate of amyloid-beta deposits than a cohort who abstained from drinking. Standard drinks were defined as any drink that contained 10 grams
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Clippings, Industry News, and Long-Term Care.
Upcoming Rate Changes for Life Products
We are announcing upcoming changes to our participation rates, cap rates and fixed account rates on our life products. These rate decreases come as a result of the current rate environment and the increased market volatility, which causes an increase in options costs. Effective April 1, 2020, we will be lowering the fixed crediting rate on Income Advantage IUL, Life Protection Advantage IUL, IUL Express and AccumUL Answers. Effective May 10, 2020, we will be making changes to our participation rates and cap rates on our Income Advantage IUL and Life Protection Advantage IUL products. Fixed Crediting Rate Changes Effective
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Medicare News – Omaha Family of Companies
Medicare Supplement: 2nd Quarter Broker Bonus Incentive Program View details on Mutual of Omaha’s Medicare supplement Broker Bonus Program. 2020 Med Supp Buyer’s Guides Latest update on the availability of the 2020 Med supp buyer’s guides. New Plans Available in MN and WA View upcoming High Deductible G Availability information. #goldencareagent #mutualofomaha
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2020 Med Supp Buyer’s Guides
The 2020 buyer’s guides, Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare and the Wisconsin Guide to Health Insurance for People with Medicare have been released. Regarding the Wisconsin buyers guide (337129_2020) The guide is print-on-demand and is available today for ordering. It may be ordered individually or in the Wisconsin Med supp sales kit. It will be updated in the e-App documents on March 26 It is also available now on Sales Professional Access (SPA) mutualofomaha.com/broker Forms and Materials to view and download. Regarding the Center for Medicare and Medicaid Services (CMS) Med supp
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2nd Quarter Broker Bonus Incentive Program
You can make even more bucks on your Medicare supplement underwritten business through our 2020 2nd Quarter Broker Bonus Program. Here are the nuts and bolts: Qualification Period: Bonus Program period is from April 1, 2020 to June 30, 2020. Eligible states: Payment will be made on qualified applications in the following states: Alabama Illinois Nebraska Ohio Texas Arizona Iowa Nevada Oklahoma Utah Colorado Kentucky New Jersey Oregon Virginia Florida Louisiana New Mexico Pennsylvania West Virginia Georgia Maryland North Carolina South Dakota Wyoming Idaho Mississippi North Dakota Tennessee Qualifying Apps: All Medicare supp applications, any state, any Plan
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