Navigating TLE 30T ROP

Mutual of Omaha has an exciting announcement for you. Effective February 1, 2022, the TLE 30T Return of Premium (ROP) product will have Critical Illness and Chronic Illness Riders available in addition to the Terminal Illness Rider. This allows your clients even more options on their policy.

In addition to these no-cost benefits, we will be repricing TLE 30T ROP while keeping it one of the most competitive ROP products in the industry.

Here’s what you need to know:

New Riders
Chronic and Critical Illness Riders will be added to TLE 30T ROP.

Rate Adjustments
TLE 30T ROP rates will increase by an average of 5% in all cells. TLE Non-ROP rates will remain the same. You can view the new rates by referring to the quoting software beginning February 1, 2022.

Transition Rules
Electronic Applications: Applications signed prior to February 1, 2022, will receive the old rates and available riders. Applications signed on February 1, 2022, or after will receive the new rates and additional available riders.

Paper Applications:

  • Applications signed prior to February 1, 2022 will receive the old rates and available riders.
  • Applications signed February 1 – 28, 2022 will receive the new rates and available riders.
  • Applications signed on or after March 1, 2022 will require the updated ABR form, as well as will receive new rates and available riders.
    • If the old form is received, the new ABR will be a delivery requirement to be signed and returned to the home office.

Quoting Software
Mobile Quotes, iPipeline, and Winflex quoting software will be updated effective February 1, 2022. To ensure rates are appearing properly, please update your software on or after this date.

Forms and Marketing Materials
On January 31, 2022, paper applications and all marketing materials will be updated and available for ordering via your normal ordering channel, or by contacting sales.support@mutualofomaha.com.
 
If you have any questions regarding the reprice, please reach out to a member of your Life Brokerage Sales Team.
 

Navigating TLE 30T ROP
 

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