Underwriting Materials Updated for New Term Conversion Guidelines

On March 18th we announced changes to our term conversion rules on our Term Life Answers fully-underwritten term insurance product. Our new Underwriting Guidelines booklet has been updated with the new term conversion guidelines and is available for ordering through your normal supply channels. And our newly updated Term Conversion Guidelines flyer also gives guidance for both of our term products, Term Life Answers and Term Life Express, regarding: The term conversion periods The conversion products available The compensation paid on conversions If you have any questions about our term products or their conversion privileges, please contact Mutual of Omaha’s
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Term Life Answers Pricing Changes

It’s important that we continually review our product portfolio and make decisions that are in the long-term best interest of our policyholders and our distribution partners. Effective April 1, 2020, we will be updating our Term Life Answers (TLA) product pricing for new issue policies. Our TLA product continues to provide clients with value and we will continue to offer these competitive product features: Age Last Birthday Underwriting FIT Underwriting Credit Program Accelerated Underwriting Program Flyer (for drop ticket applications only) Conversion Priviledges No-Cost Waiver of Premium for Unemployment Rider In addition to the product features above, effective April 1,
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Upcoming Rate Changes for Life Products

We are announcing upcoming changes to our participation rates, cap rates and fixed account rates on our life products. These rate decreases come as a result of the current rate environment and the increased market volatility, which causes an increase in options costs. Effective April 1, 2020, we will be lowering the fixed crediting rate on Income Advantage IUL, Life Protection Advantage IUL, IUL Express and AccumUL Answers. Effective May 10, 2020, we will be making changes to our participation rates and cap rates on our Income Advantage IUL and Life Protection Advantage IUL products. Fixed Crediting Rate Changes Effective
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Updates to Term Life Answers Conversion Language

Effective April 1, 2020, we will be updating the conversion language for our Term Life Answers policies. Conversion Period The conversion period allowed will be as follows: 10-year Term: – For issue ages 18-72: The earlier of 10 years or age 75 – For issue ages 73+: During the first 2 policy years only 15-year Term: – The earlier of 15 years or age 75 20-year Term: – The earlier of 20 years or age 75 30-year Term: – During the first 20 policy years only   Conversion Product Beginning April 1, 2020, the language in the Term Life Answers
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

We’re Open for Business – You Can Be Too

Our e-Application and email signature method give you the ability to complete applications for your clients, without having to meet face to face. Below you can find all the information you need to get started with an e-App today. New to using the e-App? Make sure you watch our training videos. They walk you through completing an e-App step by step. Products Available on e-App Term Life Answers and Fully-Underwritten IUL – See the Speed eTicket Flyer for details (For IUL, submit your application as if you were submitting a Term Life Answers drop-ticket application. In the Special Requests section
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Instant Decision Training

We now offer Automated Underwriting on Living Promise Whole Life (Final Expense) and Term Life Express e-Applications. This flyer walks you through the simple process of how Automated Underwriting works. Looking for more detailed training? Check out our videos for both email and in-person signature methods. Living Promise In-Person Signature Method Living Promise Email Signature Method Term Life Express In-Person Signature Method Term Life Express Email Signature Method Also, don’t forget to check out all our helpful resources available on mutualofomaha.com/simple.   Instant Decision Training   #goldencareagent #mutualofomaha #life
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

IUL Express in Four Simple Steps

The IUL Express process guide takes you through the step-by-step process to sell IUL Express. This guide walks you through: How to run an IUL Express quote How to complete and submit the application packet Simplified underwriting Delivering the policy Looking for even more training on IUL Express? Check out our producer training video on MutualofOmaha.com/Simple.   IUL Express in Four Simple Steps   #goldencareagent #mutualofomaha #life
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

New Authorization for Release of Individual Tax Return Transcript Form

United of Omaha has previously asked for tax returns and 3rd party verified financials when a client was applying for a life insurance policy with a face amount exceeding $5 million. Beginning March 1, 2020, a new Authorization for Release of Individual Tax Return Transcript form and an IRS 4506T-EZ form will now need to be filled out and signed by the client when applying for a United of Omaha life insurance policy when the face amount exceeds $5 million. The authorization form will automatically be included when downloading an IRS 4506T-EZ form on our Sales Professional Access producer website.
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

iGO e-App Training

If you’re looking for an even faster way to submit business, use our iGO (in Good Order) e-App featuring Automated Underwriting for Living Promise and Term Life Express. Both of these online applications ensure you have the right forms and all required fields are highlighted in yellow preventing mistakes and saving you time. Even better? We also offer Automated Underwriting on Living Promise and Term Life Express e-Apps so you will receive an instant underwriting decision while you’re with the client. Want to learn more? Watch our agent training videos below. > Living Promise Email Signature Method > Living Promise
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Help Clients Understand Their IUL Express Allocation Options

The accumulation value within an Indexed Universal Life Express (IUL Express) policy earns interest at a rate that is calculated based on the performance of a market index. If you use the IUL Express Easy Solve, the 100% participation rate crediting strategy will be selected, but your clients also have additional crediting strategy options. Your clients can choose from three crediting strategies, all based on the performance of the S&P 500, as well as a fixed account. This allows them to tailor their policy based on how they believe the index will perform. Clients can choose to allocate all of
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).