Effective August 2nd, you will now see additional information when accessing policyholder information on Sales Professional Access (SPA). Below are the enhancements that you will see: All Hierarchy levels will be able to see their downline policyholder conservation events. Top level (Level 20) will be able to view all events in their hierarchy All other levels within the hierarchy will be able to view their own events and the levels below them When accessing your reports on SPA: A new view will appear showing the most recent Conservation Events and the date the action was requested. Below the Conservation Events
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Updated Kit Ordering Form
At Mutual of Omaha, we currently provide a complimentary service of product specific sales kits for our brokerage sales distribution. We understand the importance of having the materials you need to meet with clients as you discuss their financial needs. Due to increased costs and our commitment to retain the same delivery service time you are accustomed to, beginning August 1, 2018, the maximum number of kits allowed per producer per product is 5*. If you have a special need and business justification for an increase of the maximum allowed, please contact your Regional Director at GoldenCare by calling 800-842-7799.
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The Advantage of a Monthly LTCi Benefit
Some insurance companies offer LTC policies based on a daily benefit amount. Mutual of Omaha’s policies are based on a monthly benefit. A daily benefit has a per day maximum which means your clients are reimbursed up to a set amount for each day. If the cost of the service is over this amount your client will have to pay the balance. With a monthly benefit, your clients are reimbursed for the actual costs of the services received each day up to the maximum monthly benefit – regardless of daily costs that may vary throughout the month. While both policies
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Help Clients Plan for the Future with Strong Conversion Privileges
Your client’s life insurance needs change. Shouldn’t their coverage change with them? Our strong conversion privileges give them options. Take a look at our new Strong Conversion Privileges flyer to learn: How the liberal conversion privileges on Term Life Answers work The flexibility these privileges can offer your clients For even more information on Term Life Answers, visit our Sales Professional Access producer site. Help Clients Plan for the Future with Strong Conversion Privileges #goldencareagent #mutualofomaha
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Senior Assessment Underwriting Requirement Changes
In April, we announced that a Senior Assessment would be required for all fully-underwritten life insurance policies when the client was age 66 and over and was applying for a face amount of $500,000 and above. Beginning August 1, 2018, we have revised this requirement. The Senior Assessment will only be needed for clients ages 66 to 70 with coverage amounts of $500,000 to $1 million when the client is applying for the Long-Term Care Rider. The Senior Assessment will be completed at the time of the paramedical examination. Since the paramedical companies will not know if an LTC rider
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New Product Portfolio and Underwriting Guide Available
New July 2018 versions of the Product Portfolio and Underwriting Guidelines booklets are available for ordering. The July 2018 versions have been updated with: The new Long-Term Care Rider — This new rider has been added to our Income Advantage IUL and Life Protection Advantage IUL products. It is designed to give clients an additional option to help prepare for their long-term care planning needs. The product portfolio and life underwriting guide have been updated to include the availability of the rider; however, it’s important to note that complete information on the LTC Rider can be found in our LTC
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LTC Rider Cost Per Thousand: Available on Winflex August 1st
The Long-Term Care Rider Personal Worksheet within the LTC Rider Supplemental Application Packet is a required form that must be submitted whenever a client is applying for the Long-Term Care Rider. On the Personal Worksheet, you must fill in the LTC rider cost per $1,000 of net amount at risk. The cost per $1,000 information was not included in the July 1 release of the Winflex illustration software, and in a previous article, we had asked that you leave this section of the application blank temporarily until the software could be updated. This has now been fixed and beginning August
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AZ and SD: Are You Ready to Sell the New LTC Rider?
On August 1, agents selling in Arizona and South Dakota will now have an additional option to help meet clients’ long-term care planning needs. A 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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Maryland Inclement Weather Information
The Governor of Maryland declared a state of emergency in two Maryland Counties: Frederick and Washington, because of severe storms and rains that occurred during the week of May 23, 2018. The Insurance Commissioner issued the subject Bulletin requiring compliance from all insurance carriers. Pursuant to our Policyholder Disaster Response Plan, we have extended the grace period for policies in the affected area to sixty (60) days for policyholders in the two counties impacted by this disaster, with no lapsing of policies with a due date of May 13, 2018, through May 19, 2018. To comply with this requirement the
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The New Long-Term Care Rider is Here!
Since 1987, long-term care insurance has been – and continues to be – a core product for Mutual of Omaha. In fact, an important part of our 2018 corporate strategy focuses on providing our customers with viable long-term care planning solutions. On July 1, we now have an additional option to help meet your clients’ long-term care planning needs. A new Long-Term Care Rider is available 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
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