An important tip to keep in mind – in order to get the most accurate underwriting decision, please take your time while completing the health questions on the e-App. The ‘instant decision’ tool needs to have enough time to run the health checks in the background while the questions are completed. If you are new to Living Promise or e-Apps watch our training videos for the in-person signature method and email signature method. They walk you step-by-step through completing the e-App for Living Promise.   If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800)
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Our LTC Rider on Income Advantage IUL and Life Protection Advantage IUL follows what is known as a reimbursement rider model. Many other companies use an indemnity model. Knowing the difference is important. Here’s a basic definition: Indemnity – Policyowner can take rider benefits up to the maximum monthly benefit limit regardless of the actual expenses incurred. Reimbursement – Policyowner is reimbursed based on actual expenses incurred by the insured, up to the maximum monthly benefit limit. At first glance based on the definitions alone, an indemnity rider may seem like the obvious choice, that your client has access to
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Since launching Automated Underwriting for Living Promise e-Applications in November 2018, over 12,000 applications have been submitted. Of those applications, 59% were instantly approved and 75% of the referred cases were approved after review for an overall approval rate of 82%. As with any new system, there are opportunities for improvements and we are working on fine-tuning the process. We’d like to provide you with an update on some of the recent enhancements/fixes that will improve you and your clients’ experience with the Living Promise e-App. Recent Enhancements/Fixes We removed cookies from the clickwrap email signature process. Your clients will
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Last weekend we updated the process for the clickwrap email signature method for iPipeline e-Applications. We no longer use cookies during the signature process which eliminates the multi-session error message some clients were receiving.   If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com.   Automated Underwriting Updates   #goldencareagent #mutualofomaha
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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
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Let’s say your clients have a house. They’ve taken good care of it – fixed the roof when it needed it, spent money on landscaping and a sprinkler system, and completely redid the kitchen. Now it’s time to sell and the housing market isn’t looking so good – and there’s no way your clients will get their money out of it. Do your clients sell for a loss? Or, is it in their best interest to wait until the market recovers before selling? A retirement portfolio works in a similar way. When building a retirement fund, your clients will continue
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We are excited to announce some major enhancements to our Automated Underwriting ‘instant decision’ tool for Living Promise e-Applications. We have installed updates to improve our HIPAA authorization and touch-to-sign processes. The new flow for these processes will make it even easier to complete the e-Application. Enhancements Made: HIPAA Authorization Process We have streamlined the HIPAA authorization screens by condensing the number of screens your clients have to click through. We no longer require your clients to review the partially completed application before moving on to the HIPAA signature. Touch-to-Sign Process We no longer require your clients to use the
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On March 15, agents selling in New Jersey will now have an additional option to help meet clients’ long-term care planning needs. The new Long-Term Care Rider will be available for you on our Income Advantage and Life Protection Advantage Indexed Universal Life (IUL) insurance policies. The LTC Rider provides: Benefits for Nursing Home, Assisted Living, Home Health Care and Adult Day Care Maximum total benefits up to 100% of the initial specified death benefit 1%, 2% or 4% monthly acceleration percentages One-time, 90 calendar-day elimination period Automatic issue of the Chronic Illness Rider if the client doesn’t qualify for
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When it comes to indexed universal life insurance products, there are many different designs. Our IUL Portfolio Overview flyer provides information on what makes our Income Advantage and Life Protection Advantage IUL products unique in the industry. It highlights our: Simple product design Straightforward crediting strategies Competitive participation rates and caps Our index loan option, which comes with a cap Our Guaranteed Refund Option rider, included with qualifying policies at no additional cost Our living benefit riders, including our LTC, Chronic and Terminal Illness Riders To learn even more about our IUL products, visit www.discoverIUL.com.   Learn What Makes Our
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