Recently, you should have received our communication outlining the transition rules, implementation dates and benefit option changes to the MutualCare® Solutions Portfolio for the states of Kansas, Maryland, Massachusetts, Pennsylvania and Wisconsin. I want to reinforce how important it is to take note of our transition rules as they were outlined: Old applications signed after October 31, 2020, will not be accepted Old applications signed by October 31st but received by Mutual of Omaha after November 13, 2020 will not be accepted In both scenarios, new applications would be required, and new rates and benefits options would apply. No exceptions
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Phase 2 LTC New Business Rate Refresh and Benefit Changes
On September 1, 2020, Mutual of Omaha implemented new business rate refresh and benefit option changes to the MutualCare® Solutions Portfolio in 32 states. Effective November 1, 2020, we will be implementing 5 additional states for the rate refresh and benefit changes. The details are outlined below: Impacted States Kansas, Maryland, Massachusetts, Pennsylvania and Wisconsin. Transition Rules New paper and e-Applications for MutualCare Solutions will be required beginning November 1, 2020. The new application pack cover series will end in _1120. Please discontinue use of all old applications based on the transition rules below. The following transition rules will apply:
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LTC New Business Rate Refresh and Benefit Changes
As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are effective. We have been monitoring industry trends, internal claims data and the economic environment over the past several years. As a result, we are refreshing our rates and implementing benefit option changes to the MutualCare® Solutions Portfolio effective September 1, 2020. The details are outlined below: Impacted States Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, Ohio,
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You Can Avoid LTCi Application Pitfalls
Did You Know? You can avoid these LTCi application pitfalls It’s a jungle out there. There’s a lot for you to remember, and LTCi is a complicated product. And you certainly don’t want to get through the sales process only to have the application declined, postponed, or withdrawn. Mutual of Omaha’s underwriting team offers these tips to help you avoid LTCi application pitfalls: If clients haven’t had a physical and lab work in the past 2 years, there’s no way to know if they’re healthy. Mutual of Omaha will not be able to insure someone who has not met this
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LTCi Application Tips
Painting a picture is the best way to ensure your cases are issued quicker When underwriting your LTCi cases, Mutual of Omaha looks at the total picture, including your client’s health, cognitive status and lifestyle. So, the better job you do painting a picture of your client’s situation, the faster the underwriting process will go. Mutual of Omaha knows your LTCi clients are more than a list of diagnoses. Even people with chronic health conditions can be viewed favorably as long as they’re physically and socially active and working with a physician to manage their health. But underwriting has to
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