Additional suitability & training requirements for life insurance sales in New York

Important information for financial professionals currently selling, or intending to sell, life insurance to New York residents Amended New York Regulation 187: Additional suitability and training requirements for life insurance sales in New York The amended version of New York (NY) Regulation 187 (Reg. 187) will become effective on February 1, 2020, for life insurance sales. Reg. 187 adopts a best interest standard for annuity and life insurance transactions in NY. Annuity recommendations have been required to comply with the Regulation since August 1, 2019. Securian Financial’s goal is to effectively support your business with us, while also ensuring that
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Categories: Industry News, Life Insurance, and Securian.

Upcoming Life Rate and Product Changes Effective January 1, 2020

Effective January 1, 2020, we will be: Increasing the cap on our 100% Participation Rate Strategy for Life Protection Advantage IUL Decreasing our crediting rate on AccumUL Answers Repricing our AccumUL Answers product Life Protection Advantage IUL Cap Increase: The cap for the 100% Participation Strategy on Life Protection Advantage IUL will increase from 9% to 10%. This rate change will apply to newly issued policies, as well as to any in force policies with a segment that is created (with new premium dollars) or renews on January 10, 2020. With the sweep feature, all money received in the home
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Living Promise e-App Now Has Bank Validation

When you enter your client’s payment information you want to ensure everything is correct. With bank validation, your client’s bank routing and account numbers will be verified to ensure they are a match. If they aren’t you’ll receive an error message so you can correct the payment information on the spot. Just one more great reason to use our Living Promise e-App. If you have any additional questions, please contact your Mutual of Omaha Life Sale Director or Account Executive.   Living Promise e-App Now Has Bank Validation   #goldencareagent #mutualofomaha
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Reminder: Upcoming Changes to Our Life Portfolio

As a reminder, effective January 1, 2020, we will be making changes to our life product portfolio, including discontinuing our Guaranteed Universal Life product, repricing our Level and Graded Living Promise Whole Life final expense products, repricing our Term Life Express Non-ROP product and discontinuing our Term Life Express 20-Year ROP product. Read the Upcoming Changes to Our Life Portfolio article for complete details on the changes. Read the 2020 Life Product Changes: Transition Rules article to get the full transition rules. Read the FAQ document to get answers to any questions you may have regarding the upcoming changes. If
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Reminder: End of Year Pay Schedule

As the holiday season quickly approaches, it’s easy to forget important dates with all the hustle and bustle. Don’t forget to mark our end of year pay dates in your calendar. Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on the following days: Christmas: Wednesday, December 25, 2019 New Year’s Day: Wednesday, January 1, 2020 The past pay cutoff in 2019 for Life is December 30 and for Health is December 27. This is the last pay cycle to be paid in 2019. Life Cutoff Dates Holiday Date Holiday Observed Cutoff – New
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Categories: Critical Illness, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

New IUL Express Client Video Now Available

Our new client-approved video helps you explain how an IUL Express product works and the benefits an IUL Express policy has to offer. Watch it now and share it with your clients. The new video is available, along with other IUL Express materials, on our new simplified issue microsite, mutualofomaha.com/simple.    If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com.   New IUL Express Client Video Now Available   #goldencareagent #mutualofomaha #iul
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

REMINDER Regarding Discontinuing New Sales of SureBridge Life Plans

REMINDER: Discontinuing New Sales of Final Expense and Term Life Plans With the date approaching for discontinuing new sales of the Life products, we want to send one last reminder. Effective December 16, 2019, SureBridge will no longer accept new sales of the Final Expense Whole Life and Term Life plans. If your customer is interested in purchasing the Term Life or Final Expense plan offered by SureBridge, the application MUST be completed, signed (by both the customer AND the agent) and submitted NO LATER than December 15, 2019. Applications submitted after this date will NOT be accepted. In addition,
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Categories: Industry News, Life Insurance, and SureBridge.

Coming soon! Two new IUL options

New products focused on accumulation and protection We’re launching two competitive Indexed Universal Life (IUL) solutions your clients can depend on – whether their goal is accumulation or protection. At Securian Financial, we’re known for our quality IUL products that demonstrate a strong commitment to policyholders. And our latest products, Eclipse Accumulator IUL and Eclipse Protector II IUL, continue this tradition. Below are some key benefits. Available December 14, 2019: Eclipse Accumulator IUL (accumulation focused) Straightforward, traditional IUL product design – offers some of the lowest policy charges in the industry Resiliency – Low charges allow for strong crediting in
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Categories: Industry News, Life Insurance, and Securian.

External Replacement Guidelines

Since September 1, 2015, United of Omaha has not accepted external replacements on simplified issue life insurance applications in Kentucky, Kansas or West Virginia. Please make sure you are aware of the external replacement guidelines below. Products impacted Term Life Express Guaranteed Universal Life Express Living Promise Whole Life (Final Expense) Children’s Whole Life Indexed Universal Life Express Any simplified issue application taken in Kentucky, Kansas or West Virginia stating an external replacement is involved, will not be accepted. External replacements will be considered on fully underwritten products in these states on a case by case basis. It is required
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Upcoming Changes to Our Life Product Portfolio

Mutual of Omaha is financially strong and we continue to focus on growing our company. Our commitment to growth is what helps ensure that we’ll be around when it comes time for us to deliver on the promises we’ve made to our policyholders. This continued growth requires an investment of capital, and as a mutual company, we rely primarily on our earnings to create new capital. Recently, statutory earnings have been impacted by several economic factors, including a prolonged low interest rate environment. We’re proactively addressing this trend in 2020 to produce positive statutory earnings and maintain our long-term financial
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).