Important Updates from Customer Service

April 6, 2020 | by | Comments Off on Important Updates from Customer Service

At Mutual of Omaha, we exist for our customers. That’s why we want you to know that we’re closely monitoring the global coronavirus (COVID-19) outbreak and taking precautionary measures to promote the health and safety of our customers and associates. Although our physical location is closed, we have implemented measures so that business remains as usual for customers. Our associates are working remotely taking calls and processing customer requests. This article includes information regarding: Extending grace periods Processing of policy claims during an extended grace period Life insurance policy coverage during a pandemic Changes to duplicate policy request processing Self-service
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Categories: COVID-19, Critical Illness, Disability Income Insurance, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, critical illness, disability, health, Life Insurance, Long-Term Care, long-term care insurance, LTC, LTCi, Med Supp, Medicare Supplement, Medigap, MS, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

Important Information Regarding Life Policy Output Procedures

April 6, 2020 | by | Comments Off on Important Information Regarding Life Policy Output Procedures

State government social distancing responses change daily, and it is increasingly difficult to know which of our distribution partners have the ability to maintain back office support for policy receipt and delivery. We also understand that any back-office support you have available today may be forced to discontinue tomorrow as the situation continues to evolve. Therefore, as an interim solution, we will begin mailing all life insurance policies direct to our customers effective Friday, April 3rd. This change is being implemented with the best interests of our customers and distribution partners in mind to ensure timely policy delivery to our
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Categories: COVID-19, Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

The Changing Landscape of LTC Planning

April 6, 2020 | by | Comments Off on The Changing Landscape of LTC Planning

LTCi Remains Firmly Rooted as Viable Option When it comes to planning for LTC, consumers have more choices than ever before. But if they’re looking for the least expensive option, more comprehensive and generous benefits and other features like care coordination and inflation protection, then a traditional LTCi policy may be their best option. Traditional Policy Advantages: The least expensive way to fund long-term care services, providing strong value for the consumer Benefits are more comprehensive and generous than those provided by combined products Flexible policies provide coverage during the progression of care Provides known coverage amounts on day one
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: insurance, Long-Term Care, long-term care insurance, LTC, LTC Conversation, LTC Planning, LTCi, mutual of omaha, and omaha.

Underwriting Materials Updated for New Term Conversion Guidelines

April 1, 2020 | by | Comments Off on 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).
Tags: conversion, express, insurance, IUL, IULE, life, Life Insurance, mutual of omaha, omaha, term life, Term Life Insurance, and United of Omaha.

Important Information Regarding LTC Underwriting and New Business

April 1, 2020 | by | Comments Off on Important Information Regarding LTC Underwriting and New Business

LTC Underwriting and New Business have received several inquiries for processing alternatives in light of the current situation. The e-Application located on Sales Professional Access remains the best means to submit an application and reduce amendments; however, this email provides information on the following topics: NEW: Email submission of applications and requirements NEW: LTC Policy output options Accepted ways of accepting electronic signatures for new business processing The status of our new business vendors NOTE: This information pertains exclusively to the long-term care product portfolio.   Email Submission of LTC Applications Starting on March 27, 2020 LTC paper applications and
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Categories: COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

Important Information Regarding the Underwriting of Pending Apps

April 1, 2020 | by | Comments Off on Important Information Regarding the Underwriting of Pending Apps

As COVID-19 cases increase within the United States and around the world, Mutual of Omaha is issuing the following underwriting guidance on new and pending applications for life and health products, effective immediately (Note: Health products include Accidental Death, Long-Term Care, Disability Income, Critical Illness, Cancer, and Heart Attack & Stroke. This does NOT apply to Med Supp applications.): If the proposed insured or any member of his or her household has traveled or resided outside of the United States within the past 30 days, the application will be postponed until 30 days following their return. If the proposed insured
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Categories: COVID-19, Critical Illness, Disability Income Insurance, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

Term Life Answers Pricing Changes

April 1, 2020 | by | Comments Off on 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).
Tags: express, insurance, life, Life Insurance, Living Promise, mutual of omaha, omaha, term life, Term Life Insurance, United of Omaha, and whole life.

Our Underwriting and Case Management Staff are Here for You

April 1, 2020 | by | Comments Off on Our Underwriting and Case Management Staff are Here for You

Our LTC Underwriting and New Business teams are fully staffed, working remotely and actively accepting and processing your LTCi applications. The e-Application located on Sales Professional Access remains the best means to submit an application and reduce amendments. View the Quick-Start Guide to get started. Our vendors are working to capacity with no delays in issuing or mailing policies; however, due to social distancing, self-imposed quarantine and prioritizing patient care, we are experiencing some delays in face-to-face interviews and obtaining APS’s. That said, we will remain flexible by working with you on keeping your cases open and processing your business.
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Categories: COVID-19, Critical Illness, Disability Income Insurance, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

Important Information Regarding Underwriting and New Business

April 1, 2020 | by | Comments Off on Important Information Regarding Underwriting and New Business

Underwriting and New Business have received several inquiries for processing alternatives in light of the current situation. This article provides information on the following topics: NEW: We are now allowing fully-underwritten IUL policies to be submitted using Speed eTicket (drop ticket) and using Accelerated Underwriting The status of our new business vendors Accepted ways of accepting electronic signatures for new business processing Email submission of applications and requirements Policy output options NOTE: This information pertains to our Life and Health product lines, excluding Long-Term Care, Medicare Supplement and Prescription Drug Plan (PDP). We will engage our partners at LTCG for
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Categories: COVID-19, Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
Tags: Coronavirus, COVID-19, Long-Term Care, long-term care insurance, LTC, LTCi, mutual of omaha, omaha, pandemic, pending cases, Underwriting', and virus.

Upcoming Rate Changes for Life Products

April 1, 2020 | by | Comments Off on 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).
Tags: express, final expense, Graded Benefit, insurance, Level Benefit, life, Life Insurance, Living Promise, mutual of omaha, omaha, United of Omaha, and whole life.