LTCi Underwriting Update: “Other than applied for” cases

In an effort to increase customer satisfaction with a Long-Term Care policy issued by Mutual of Omaha and align ourselves with other Mutual of Omaha Underwriting Departments, we plan to implement a new process effective October 1, 2017.

Effective October 1, 2017, when a case has been approved “other than applied for” (except for a better rate), Underwriting will reach out to the producer and inquire whether the producer will be able to place the policy with the rate and benefit changes (if any) proposed by Underwriting. Underwriting will hold the policy for 14 calendar days for the producer to discuss the rate change and benefit changes (if any) with the client and relay this information back to Underwriting. If we do not hear back from the producer after the 14-day period, we will withdraw the application.

The 14-day period has several benefits:

  1. Agent has time to discuss offer with their client to determine whether the client wants the policy with the new premium and benefits, or whether the client wants to alter benefits.
  2. Agent can submit additional health items that could alter the original underwriting decision.
  3. Decreases the need for policy changes post issue, and alleviates possible billing problems post issue.

We piloted the above program earlier this year with successful results and we feel this new change will improve the Long-Term Care purchasing experience for your clients.

Please direct any questions to your Case Manager (800-275-5528) or Underwriting (800-551-2059).

LTCi Underwriting Update: “Other than applied for” cases


>   Related: LTCi Underwriting Update for October 2017