Mutual of Omaha allows term conversions to any product and rest assured, we will continue to offer this conversion option. One change that we are implementing is the way in which we compensate term conversions for TLA.
After careful review, we have modified the compensation rates for TLA policies converted to one of our permanent policies:
- Now, term conversions years 2 through 9 will receive full new business first-year commissions payable — an increase to what is currently paid!
- For term conversions in years 10+, the year 2 renewal commission rate will apply
Transition Rules
- These compensation changes are effective July 22, 2022
- All TLA term conversion applications must be signed by July 22, 2022 AND received by the Home Office by July 29, 2022 to receive the current compensation rules (as of this communication)
- TLA term Conversion applications signed on July 23, 2022 and later and/or received by the Home Office on July 30, 2022 or later, will receive the new term conversion compensation detailed above
- No exceptions will be made
Mutual of Omaha is fully committed to continuing to provide you with the best solutions to fit your clients’ changing needs. We thank you for your continued business, partnership, and commitment to Mutual of Omaha.
If you have any questions, please contact your Sales Director or Account Executive.
Important Term Life Answers (TLA) Conversion Policy Changes
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