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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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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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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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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2020 Life Product Changes: Transition Rules
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. Below is a summary of the transition rules. More information on these product changes and transition rules can be found in our 2020 Life Product Changes Frequently Asked Questions document. GUL and TLE 20-Year ROP policies: You will still be able to submit applications for GUL and TLE 20-year ROP
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Email Submission for Paper Applications
Sending a fax can be time-consuming and frustrating, that’s why we are pleased to announce paper applications can now be submitted via email. This update is effective immediately and available for all Life products and Health products, excluding Medicare Supplement, Medicare Advantage, Prescription Drug Plans and Long Term Care. While this new capability will streamline the submission process there are some very important steps to follow in order to make sure applications are being submitted correctly and securely. Please ensure you follow this guide when submitting new business and additional requirements via email. Thank you for your business and if
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Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
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Get Up to Speed on the IUL Express Process
An IUL Express policy is a great way to provide your clients with long-term life insurance protection using a simplified issue sales process. Our new IUL Express Process Video will take you through the step-by-step process for determining a premium, completing the application packet, understanding the underwriting process, and delivering the policy. You can also use the IUL Express Process Flyer. For even more information on our IUL Express product, as well as our other simplified issue products, visit our now Simplified Issue microsite: mutualofomaha.com/simple. Get Up to Speed on the IUL Express Process #goldencareagent #mutualofomaha #iul
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Learn the Basics: Living Promise
If you are a new agent or would just like to learn more about Living Promise (Final Expense) Whole Life Insurance, we’ve made it simple for you. We created this quick, informative video to teach you about the product features and some of the selling points of Living Promise. Or to view in a separate window, click here. If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com. Learn the Basics: Living Promise #goldencareagent #mutualofomaha
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Gerber Life Insurance CSO Mortality Table Transition
Gerber Life Update Important Changes to the Gerber Life Grow-Up® Plan, Young Adult and Guaranteed Life CSO Mortality Tables. The National Association of Insurance Commissioners (NAIC) has adopted the 2017 Commissioners Standard Ordinary (2017 CSO) mortality tables. Life insurance policies are required to use the updated 2017 CSO Mortality Tables by January 1, 2020. Additionally Guaranteed Life Issue policies will continue to use the 2001 CSO Mortality Tables. As a result the following changes will be made: Grow-Up® Plan and Young Adult Grow-Up® Transitions to the 2017 CSO Mortality Tables All Grow-Up® Plan and Young Adult Grow-Up® policies issued
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Spread the Word About Customer Access
Spread the word! Customer Access is a great resource that allows your clients to access their information in one convenient spot 24/7. By simply logging into Customer Access, clients have access to a variety of self-service capabilities, including making a payment, viewing Explanation of Benefits, obtaining policy information and much more – new features are also added periodically! Here’s a list of what can be done 24/7 on Customer Access. Customers can also utilize the Interactive Voice Response (IVR) system within our customer service line 24/7 to do the following: Make a payment Request a duplicate ID card Obtain policy
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