We are excited to announce a major enhancement to our payment system. Effective immediately, on all Life products, your clients’ initial premium payments will draft their bank accounts on the day they request it – not a few days later. The best part? There’s nothing for you to do. If your client picks the second Tuesday of each month – their payment will come out on the second Tuesday of each month. No new forms or applications for you to worry about. Also, don’t forget to let your clients know they have options when selecting the date their payment comes
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We have discovered stand-alone medications are being included in the combination medication rules with our vendors. This mainly affects high blood pressure medications, such as Losartan and Lisinopril, as well as around the use of diuretics such as Furosemide. We have identified changes needed and are in the process of adjusting our prescription rules with our vendors. We expect to have these corrections implemented by the end of April. Until then, we will review cases you do not feel should have been included in this medication change. If you have a case you feel needs further review, please contact your
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Outliving assets is a real threat as people are living longer. According to data compiled by the Society of Actuaries, a man reaching age 65 today has a 50% chance of living until age 86. A woman turning age 65 today, has a 50% chance of living until the age of 88. And those are just for those in average health. About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95. Not knowing exactly how long they will live can make planning tricky for your clients. How
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Automated Underwriting for Living Promise e-Applications offers many great features, but one you might not think about is our ability to refer cases. We would always like to provide an instant decision at the time you are with the client. Having the ability to refer a case to our underwriting team for further review allows us more flexibility to approve cases – and 77% of our referred cases are approved and issued after review. One of the reasons a case could be referred for further review would be our inability to verify your client’s identity. During the automated underwriting process,
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United of Omaha Life Insurance Company Position Statement on Insurable Interest April 2019 United of Omaha Life Insurance Company and its affiliates’ (together, “United of Omaha”) are committed to providing financial security to individuals, families and businesses through affordable insurance and financial products. We continually strive to develop life insurance and annuity products that meet our customers’ needs and provide good value at a competitive price. A fundamental principle in providing individual life insurance coverage is the existence of an insurable interest by the proposed owner in the life of the insured. Issuing life insurance coverage to persons who do
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We have discovered medication rules for high blood pressure medications are inadvertently including single medication use, with rules for combination medication use. This includes medications such as Losartan, Lisinopril, and Furosemide, which is a diuretic. The changes needed have been identified, and we are in the process of adjusting our prescription rules with our vendors. We expect to have these corrections implemented by the end of April. We are open to appeals on cases and will review the prescription history if you feel a case was incorrectly decisioned based on their medication use. Appeals can be submitted by contacting your
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Statistics show that almost 70 percent of people over 65 will require chronic care later in life. Long-term care services can be expensive – and the costs are only expected to keep rising. So, why haven’t your clients purchased long-term care insurance yet? Some may not realize they need it. In fact, most don’t. That is, until they’ve experienced a parent or grandparent depleting their assets to pay for long-term care services. Perhaps that parent or grandparent even had to rely on family members to provide the care they couldn’t afford. Others have a hard time making the purchase because
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