Effective February 1, 2021, the IUL maximum illustrated rates in WinFlex Web will increase as follows: Income Advantage IUL: 100% Participation Rate with 10% Cap: Increasing from 6.17% to 6.20% 140% Participation Rate with 7% Cap: Increasing from 4.74% to 4.77% 50% Participation Rate with No Cap: Increasing from 5.80% to 5.84% Life Protection Advantage IUL: 100% Participation Rate with 8.5% Cap: Increasing from 5.42% to 5.45% 140% Participation Rate with 6% Cap: Increasing from 4.11% to 4.14% 40% Participation Rate with No Cap: Increasing from 4.66% to 4.69% IUL Express: 100% Participation Rate with 9.25% Cap: Increasing from 5.80%
Read More
How Section 7702 Changes Will Impact the Life Insurance Industry
In this Advanced Markets Minute, we look at the changes that were made to the definition of life insurance under Section 7702 of the Internal Revenue Code. Perhaps some of you have heard about the changes that were made. If you have, you may have even heard that this will allow more money to go into the cash value of life insurance. Or maybe you’ve heard that it is a good thing for whole life insurance. Maybe you’ve heard nothing or are just confused about the whole thing. This article should help you understand the changes and how they affect
Read More
Customize a Living Promise Postcard
Living Promise Whole Life Insurance can help ease the financial burden associated with outstanding medical bills, debt and final expenses. It offers your clients affordable premium rates that never increase, no medical exam is required and the policy can’t be canceled as long as premiums are paid and there has been no material misrepresentation. Call Mutual of Omaha’s Sales Support at 1-800-693-6083 to customize our Living Promise rate postcard today! Customize a Living Promise Postcard #goldencareagent #mutualofomaha
Read More
Encourage Customers to Update Their Email on Customer Access
Over the past several years Mutual of Omaha has made a number of enhancements to our customer-facing systems. In doing so, we’ve increased the number of email notifications sent to our customers who have an email address on file. Please encourage customers to provide an email address so they can receive important policy-related communications, including: Payment notification emails: Upcoming automatic deduction Upcoming payment due (if receiving paper billing statements) Payment past due email Payment returned notification (i.e. insufficient funds) New Medicare Supplement Explanations of Benefits available Proxy voting information (Mutual of Omaha customers only; does not pertain to United of
Read More
Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
administrative, consumer, consumer-access, Customer Service, insurance, mutual of omaha, omaha, self-service, United of Omaha, and United World.
administrative, consumer, consumer-access, Customer Service, insurance, mutual of omaha, omaha, self-service, United of Omaha, and United World.
When You Think of Us, Think ‘Age Last Birthday’
Many companies set premium rates based on an applicant’s nearest birthday rather than using their actual age. Using age last birthday can: Save your clients when it comes to premium: The client is paying a premium based on their current age, not on the age they will be. Result in fewer underwriting tests: Underwriting requirements are based on age, so the client may have fewer tests when basing the requirements on the client’s current age. Less tests can help save your clients time. For the best possible rates, be sure you use your client’s date of birth when quoting United
Read More
Simplified Issue Underwriting Quick Reference Guide
The Simplified Underwriting Reference Guide provides you with a quick overview of the underwriting requirements for Indexed Universal Life Express (IULE), Term Life Express (TLE), Guaranteed Universal Life Express (GULE) and Living Promise Whole Life (Final Expense). This downloadable one-page flyer provides the basic underwriting requirements by product, the build chart and a summary of some of the ineligible conditions. You can also download this flyer and other Simplified Issue marketing materials by visiting mutualofomaha.com/simple or by logging into Sales Professional Access (SPA). If you have questions, please contact your Account Executive or Sales Director. Simplified Issue Underwriting
Read More
Administrative Alert! Changes to Indexed Life Portfolio
Administrative Alert! Changes to Indexed Life Portfolio Due to the continuing economic impact of the COVID-19 pandemic, it is necessary to reduce cap rates and participation rates on some of the accounts within our Indexed Universal Life product portfolio. These changes will take effect for all premium received and new indexed segments created after Friday, January 15, 2021. All premium received on or before January 15 for approved and existing policies will have current rates applied. Illustrations will be updated January 15, 2021. Many considerations go into determining the cap and participation rates – and we want to make sure
Read More
Foreign National Questionnaire Now on iPipeline e-Apps
You are no longer required to submit a paper application if your client is a non-US citizen. The required Foreign National Questionnaire is now built into our iPipeline e-App for most products! Here’s what you need to know: Available on iPipeline e-App’s for: Indexed Universal Life Express (IULE) Term Life Express (TLE) Guaranteed Universal Life Express (GULE) Term Life Answers (TLA) AccumUL Answers Income Advantage IUL Life Protection Advantage IUL Who does this affect: Clients who are non-US citizens Make sure your client has the following ready in order to complete the Foreign National Questions: Visa Permanent Resident Card If
Read More
New Underwriting Guidelines Booklet – Now Available
The Life Insurance Underwriting Guidelines booklet has been updated for January 1, 2021 and is now available to order. Changes effective January 1, 2021 include: The IRS Tax Transcript form number that was previously 4506T-EZ has been updated and is now 4506-C. The new 4506-C tax transcript form is available to download on SPA. The generally acceptable maximum face amount for juveniles has been increased from $100,000 to $250,000; and the maximum we will consider has been increased from $250,000 to $500,000 We will now request a pharmaceutical check (Rx) for all Juvenile policies The updated guide is available to
Read More
Reminder: Holiday Hours for Securian’s SecureCare Team
SecureCare tele-interview and underwriting holiday hours Please take note of the following holiday office closures: Christmas Eve (Dec. 24): Closed at 3 p.m. CST Christmas Day (Dec. 25): Closed Boxing Day (Dec. 26): Closed New Year’s Eve (Dec. 31): Closed at 5 p.m. CST New Year’s Day (Jan. 1): Closed We hope that you and your loved ones stay safe and healthy. #goldencareagent #minnesotalife #securian
Read More
