LTC Post-Issue Requirements: Amendment Scenarios

Last week you read the overview of the three types of post issue requirements for LTC policies: amendments, outstanding premiums and Policy Delivery Acknowledgments. Amendments must be returned to Mutual of Omaha within 60 days of your client’s policy being issued. Changes made within the first sixty days from issue will also require a returned amendment. The Benefit Change form found in the issue kit may be used to request a benefit change but is not required, nor is it a replacement for an amendment.

Amendments are required for a variety of situations, including:

Missing Application Requirements
When an application is submitted with missing information or if the response to a question has changed, an amendment will be required. These changes can be requested verbally or via email. However, the applicant must verify the corrections with their signature at the time the policy is accepted.

Incorrect Benefit Selections
Amendments may also be required on applications submitted with benefits that are not allowed or approved (ex: applying for spousal benefits when the spouse is not applying/already has a policy in force). Changes to the policy that are different than that which was requested on the application will require an amendment.

Note: To avoid an amendment, corrections to applications require date and initial prior to policy issue.
 
The following application corrections cannot be accepted via Amendment:

  • Replacement notice
  • Personal Worksheet
  • TIA or Conditional Receipt
  • Section C, Question 4 requires dated initials of the agent on a corrected application page (Producer Question)
  • Section I, Question 3 requires dated initials of the applicant on a corrected application page (Compound Inflation Protection)
  • Section J, Question 3 requires dated initials of the applicant on a corrected application page (Compound Inflation Protection)
  • Missing Signatures and/or dates

How do I know if there is an amendment on a policy?

  • The Issue email sent by your Case Manager at issue
  • The amendment form located in the Policy Issue Kit
  • The Post-Issue Requirements section of Case monitoring above the Completed Requirements section

If you have any questions, please contact Mutual of Omaha’s Sales Support at (800) 693-6083 or e-mail sales.support@mutualofomaha.com.
 

LTC Post-Issue Requirements: Amendment Scenarios
 

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