Settlers Life will cease new business operations, effective November 7th. This decision was the result of a decision by Settlers’ parent company, National Guardian Life, to exit the final expense marketplace. We realize this is a significant impact to all Settlers Life agents and we hope this message outlines everything that you need to know. Please understand that this decision was not made due to financial difficulties. Settlers Life remains profitable, with over $420 million in assets and over $40 million in surplus. The important facts that you need to know are as follows: We are only ceasing sales operations;
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Transamerica Notable News (November 2018)
Notable News Policy Change Application & UW Questionnaire Effective September 14th, 2018 we implemented a revised Policy Change Application and Underwriting Questionnaire that can be accessed through your agent portal. Previous versions of these forms will be accepted until January 1, 2019. Transamerica: Holiday Closure & Early Closing, Nov. 22-24 The Transamerica Long Term Care administrative office in Plano, TX will be closed Thursday, Nov. 22, and will close at 2 p.m. on Friday, Nov. 23, 2018, in honor of the Thanksgiving holiday. Please allow additional time if necessary to order and receive materials during that time. Much
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Coming Soon: Automated Underwriting for Living Promise
We will soon be offering Automated Underwriting for Living Promise (Final Expense) e-Applications. Here’s why you’ll like it: Get an instant underwriting decision on your Living Promise e-Apps any time – day or night. Just follow the e-App and it will guide you through all the questions you need to ask your client – the Automated Underwriting feature will run in the background. Ever worried you’re missing something on your application? No need to worry, with the e-App the correct forms always come pre-loaded so you know you have all the correct forms when you are ready to submit. With
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The New LTC Rider is Now Approved in North Dakota
On November 1, agents selling in Florida, Hawaii, North Dakota and Virginia 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
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Omaha 2018 End-of-Year Pay Schedule
Mutual of Omaha and its affiliates (United of Omaha, Companion Life Insurance Company, and United World) will be closed on the following days: Thanksgiving: Thursday, November 22, 2018 Day After Thanksgiving: Friday, November 23, 2018 Christmas Eve: Monday, December 24, 2018 Christmas Day: Tuesday, December 25, 2018 New Year’s Eve: Monday, December 31, 2018 New Year’s Day: Tuesday, January 1, 2019 The past pay cutoff in 2018 is December 28 for Life and December 27 for Health. This is the last pay cycle to be paid in 2018. Holiday Date Holiday Observed Life Cutoff (New issues & renewals) Check Distribution
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Living Promise Training Video
If you are a new agent or would just like to learn more about Living Promise (Final Expense) Whole Life Insurance, we’ve made it simple for you. We created this quick, informative video to teach you about the product features and some of the selling points of Living Promise. Or to view in a separate window, click here. If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com. Living Promise Training Video #goldencareagent #mutualofomaha
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The New LTC Rider is Now Approved in FL, HI and VA
On November 1, agents selling in Florida, Hawaii and Virginia 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
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Simplified Issue Underwriting Updates
Effective Monday, October 15, 2018, we made some improvements to Simplified Issue Underwriting. Here’s what has changed. Mandatory Phone Interviews are no longer required for Term Life Express, issue ages 61-70 and Guaranteed Universal Life Express, issue ages, 61-65. In place of the mandatory phone interview, we will run an automated lab history check on these applications – there will not be extra work for you or your clients The Express Life Products Reference Guide has been updated and is ready to order via your normal ordering channels The maximum total combined coverage amounts for Term Life Express, Guaranteed Universal
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LTC Rider Competitive Snapshot
Life insurance plays many roles. It can help your clients protect their loved ones through the death benefit. It can help prepare them for a long, healthy retirement by allowing them to take supplemental income from the cash value.* It can also help clients preserve their estate if the insured needs long-term care services. This protection comes in the form of a Long-Term Care Rider on our two indexed universal life insurance products – Life Protection Advantage IUL and Income Advantage IUL. Take a look at our Competitive Snapshot flyer to learn about some of our LTC Rider strengths, and
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A Case Study: Accumulation, Protection or Both?
Income Advantage IUL can provide your clients with valuable life insurance protection. It also offers the opportunity to accumulate cash value* for future needs, such as supplementing the client’s retirement income. Teaming an Income Advantage policy up with a Term Life Answers policy may be an ideal solution for clients who want to plan ahead for retirement, but also have a larger temporary life insurance need. Learn more about how this works by looking at our Satisfy the Need for Accumulation and Protection flyer. It includes: A case study showing how this concept works A comparison of taking income immediately
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