Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective August 1, 2021: Block of Business Impacted States LTC06 Colorado For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders will receive
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Rate Adjustments Effective September 1, 2021 (RI)
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective September 1, 2021: Block of Business Impacted States LTC06 Rhode Island For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders will
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LTC New Business Rate Refresh and Benefit Changes in Additional States
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 in line with industry trends, internal claims data and the economic environment. Last year, Mutual of Omaha began implementing new rates and benefit option changes to the MutualCare Solutions Portfolio in approved states. Effective June 1, 2021, we will be implementing these changes in four additional states. Impacted States Delaware, Florida, North Dakota and South Dakota Rate Adjustments Premium adjustments may vary by age, sex and benefit selection. You may view the
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Rate Refresh Partner Allowance Guidelines
Mutual of Omaha is allowing a 6-month period for policyholders to receive the “Partner – Both Issued” allowance when partners are issued policies with two different rates (one issued pre rate refresh, one issued post rate refresh). The rule will only apply if the second partner’s policy is issued within 6 months of the rate refresh effective date. Below are scenarios based on a state with a rate refresh implementation date of September 1, 2020 and a six-month deadline of March 1, 2021. Partner A is issued a policy with old rates. The 15% “Partner – One Issued” allowance applies
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Important Information Regarding GUL Express
At Mutual of Omaha, we know how important it is to provide product solutions that help customers achieve their financial goals. We also know it is imperative that we make prudent business decisions to help ensure we remain profitable so we can be here when it comes time to fulfill the promises we’ve made to our policyholders. We have made the difficult decision to no longer offer our Guaranteed Universal Life Express (GUL Express) product beginning June 1, 2021. I want to assure you that we remain committed to the simplified issue marketplace and we will continue to offer product
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Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
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Using our Mobile Quoting App
We all know someone who has been diagnosed with or fought cancer. You may even know someone who has had a heart attack or stroke. More than likely, your clients do too! The coverage offered by the products in our Critical Advantage Portfolio can be very low, and your clients may be surprised by just how little they could pay each month for coverage. When using our mobile quoting app, all you need to do is put in your client’s information, and in just a matter of seconds, you’d find that your 50-year-old client would only pay $37 dollars a
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Mutual of Omaha – A Company You Can Trust
Mutual of Omaha – A Company You Can Trust Mutual of Omaha issued its first Medicare supplement insurance policy more than 55 years ago, and in recent years we’ve added competitive dental and prescription drug plan solutions. Today, our commitment to help your producers meet the needs of their senior-age clients is stronger than ever. Our formula for success is simple – offer people the coverage they want at competitive prices and provide them the convenience of working with one company. Learn more about our Medicare Solutions Portfolio and the tools, rewards and support that can help your producers grow
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Industry News, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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COVID-19 drives interest in life insurance
According to the 2021 Insurance Barometer Study from Life Happens and LIMRA, the Coronavirus pandemic has driven an increase in life insurance purchase intent, with 31% of consumers more likely to buy life insurance due to COVID-19. 1 The impact is even greater among distinct audiences, with the likelihood of buying increasing to 45% among millennials and 42% among respondents who have household incomes of $150K or more.1 This changing mindset seems to indicate that consumers are thinking of additional ways to protect themselves and their families and that life insurance has become more of a priority relative to other
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Product changes clarification and past due policies reporting
Product changes clarification and new past due policy reporting Clarification: Updates to Final Expense portfolio On May 1, 2021, Great Western Insurance Company (GWIC®) adjusted the Final Expense product portfolio. The only change that was made to the Guaranteed Assurance (Guaranteed Issue) product was the chargeback period on deaths is now 12 months. The Assurance Plus (First-day coverage) product’s changes are: The minimum age was changed from age 40 to age 50. The minimum face amount increased to $2,500. The chargeback period on deaths was changed to 12 months. View past due policies Previously named the Submitted and Pending Dashboard,
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Did You Miss Omaha’s News About New LOW Med Supp Rates?
Did You Miss Omaha’s News About New LOW Med Supp Rates? Mutual of Omaha and its Affiliates have been releasing new Medicare Supplement rates in ND, CA, IL, NC, AR, SC, KY, and more! If you’ve missed some of these recent announcements, click the links below for details, including access to special state-specific sales incentives: New low Med supp rates in North Dakota are here! New low Med supp rates in California are here! New low Med supp rates in Illinois are here! Our Florida Med supp rates drop! New low Med supp rates in North Carolina are here! New
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