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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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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How to Safely Conduct Business
As we shared with you on March 16, 2020, Mutual of Omaha is practicing social distancing to help protect the health and safety of our associates and ensure uninterrupted service to our customers and you. We encourage you to also do your part to slow the spread of the coronavirus. You’re likely rethinking how you can keep yourself and others safe in a business that’s built on relationships with people and, most often, face-to-face interactions. Mutual of Omaha is offering suggestions on how to continue your business in today’s environment while keeping both you and your clients safe and healthy.
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COVID-19, Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
Coronavirus, COVID-19, critical illness, disability, disability income, insurance, life, Life Insurance, Long-Term Care, long-term care insurance, LTC, LTCi, Medicare Supplement, Medigap, mutual of omaha, omaha, and United of Omaha.
Coronavirus, COVID-19, critical illness, disability, disability income, insurance, life, Life Insurance, Long-Term Care, long-term care insurance, LTC, LTCi, Medicare Supplement, Medigap, mutual of omaha, omaha, and United of Omaha.
Anti-Money Laundering (AML) Refresher Training
As REQUIRED by federal regulation, all producers writing permanent life or annuity products must complete the Anti-Money Laundering (AML) training. Each producer that completed AML training prior to January 1, 2020 is required to complete AML renewal training by June 30, 2020. The renewal course is titled “Money Laundering and Cybercrime – Anti-Money Laundering for Insurance Review” will automatically be assigned by LIMRA and takes approximately 30 minutes to complete. Mutual of Omaha has contracted LIMRA to provide anti-money laundering training at no cost to you. Once you’ve completed the course, LIMRA will automatically send Mutual of Omaha a notification.
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Securian answers Minnesota nurses’ call for masks in a big way
Nicole Hansen with Securian Financial and Rick Fuentes with the Minnesota Nurses Association load up a dolly with cases of protective masks at the MNA offices at 345 Randolph Ave. in St. Paul on Saturday, March 21, 2020. Securian had stockpiled protective masks in a warehouse in case of emergency. (John Autey / Pioneer Press) The Minnesota Nurses Association began its protective-mask donation drive with a bang on Saturday. Securian Financial in St. Paul donated 20,200 masks to help fill the “drastic” shortage health care workers say they face in the fight against the COVID-19 pandemic. “We are all
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Updates to Term Life Answers Conversion Language
Effective April 1, 2020, we will be updating the conversion language for our Term Life Answers policies. Conversion Period The conversion period allowed will be as follows: 10-year Term: – For issue ages 18-72: The earlier of 10 years or age 75 – For issue ages 73+: During the first 2 policy years only 15-year Term: – The earlier of 15 years or age 75 20-year Term: – The earlier of 20 years or age 75 30-year Term: – During the first 20 policy years only Conversion Product Beginning April 1, 2020, the language in the Term Life Answers
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We’re Open for Business – You Can Be Too
Our e-Application and email signature method give you the ability to complete applications for your clients, without having to meet face to face. Below you can find all the information you need to get started with an e-App today. New to using the e-App? Make sure you watch our training videos. They walk you through completing an e-App step by step. Products Available on e-App Term Life Answers and Fully-Underwritten IUL – See the Speed eTicket Flyer for details (For IUL, submit your application as if you were submitting a Term Life Answers drop-ticket application. In the Special Requests section
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Instant Decision Training
We now offer Automated Underwriting on Living Promise Whole Life (Final Expense) and Term Life Express e-Applications. This flyer walks you through the simple process of how Automated Underwriting works. Looking for more detailed training? Check out our videos for both email and in-person signature methods. Living Promise In-Person Signature Method Living Promise Email Signature Method Term Life Express In-Person Signature Method Term Life Express Email Signature Method Also, don’t forget to check out all our helpful resources available on mutualofomaha.com/simple. Instant Decision Training #goldencareagent #mutualofomaha #life
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IUL Express in Four Simple Steps
The IUL Express process guide takes you through the step-by-step process to sell IUL Express. This guide walks you through: How to run an IUL Express quote How to complete and submit the application packet Simplified underwriting Delivering the policy Looking for even more training on IUL Express? Check out our producer training video on MutualofOmaha.com/Simple. IUL Express in Four Simple Steps #goldencareagent #mutualofomaha #life
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Introducing Mutual Perks for Mutual of Omaha Policyholders
Everyone loves a good deal. Whether it’s a discount at a favorite store or restaurant, savings on eyeglasses and hearing aids, a reduced rate on a home mortgage or a low-cost gym membership, the Mutual Perks program is designed to help some of your clients keep more money in their pockets. What’s Included in the Mutual Perks Program? Coupons & Discounts – Discounts at local restaurants and retailers, as well as a variety of national online merchants – many of the places where your customers already spend their dollars. Provided via AccessPerks Health & Fitness Programs – Also known as
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