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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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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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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Critical Advantage Has Express and Simplified Underwriting
With the products in the Critical Advantage Portfolio, your clients get coverage that pays a lump-sum benefit upon diagnosis of a covered condition. It also offers two underwriting options to give your clients the benefits they need fast. It also means you get paid fast. Express underwriting for Critical Advantage products covers benefit amounts from $10,000 to $50,000. It has simple yes/no knock-out questions to make applying easy and fast. Simplified underwriting is for benefit amounts from $51,000 to $100,000. Simplified underwriting also has simple yes/no knock-out questions in addition to a MIB, Pharmaceutical inquiry and possible telephone interview. No
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Important Information Regarding LTC Underwriting and New Business
From the Desk of Marty Johnson 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
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Important Information Regarding the Underwriting of Pending Applications
From the Desk of Marty Johnson 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 (Accidental Death, Long-Term Care, Disability Income, Critical Illness, Cancer, and Heart Attack & Stroke), effective immediately: 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 or any member of his or
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Mutual of Omaha ILTCI Status Update
From the Desk of Steve Pike As concern with the global coronavirus (COVID-19) outbreak grows domestically, Mutual of Omaha has made the difficult decision to withdraw its participation from the 2020 ILTCI Conference in Denver on March 29-April 1st. The Punch Bowl Social hospitality event scheduled on Monday, March 30th, is also canceled We apologize for any inconvenience this may cause and look forward to our continued support to the ILTCI conference in the future Steve Pike National Sales Director – LTC, DI, CI (800) 693-6083 Contact Me Mutual of Omaha ILTCI Status Update E3422 #goldencareagent #mutualofomaha
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Successful Quoting Starts with Understanding Underwriting
Successful Quoting Starts with Understanding Underwriting CSG Actuarial’s Advanced Underwriting Filter alerts agents about their client’s declineable health conditions and medications and provides a list of carriers that may accept their client. Here’s how it works: While running the initial quote, the agent adds client’s health conditions and medications Quote results remove carriers who label those entries as a decline Option to see view look-back period on application The Advanced Underwriting Filter saves you from submitting applications that will automatically be declined. For complimentary access, or to learn more about our tool, contact GoldenCare at 800-842-7799 or email marketing@goldencareusa.com.
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Give Your Clients Credit using Our Fit Underwriting Program
Our Fit Underwriting Program offers your clients the potential for a better rate class and a lower premium. Here are some examples of what it means to be physically or financially fit. Great family history — no deaths from any disease prior to age 70 Optimal blood pressure control (treated or untreated) with an average of 135/85 or better Preferred or better build, ages 18-60; Standard Plus or better build, ages 61-75 Regular preventative medical care and compliant follow-up for treated impairments (within the past 12 months) Income > $100,000, or net worth > $1,000,000 Preferred or better driving record
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Important Announcement from United Security Assurance
January 28, 2020 As many of you are aware, United Security entered into a reinsurance treaty in 2016 in order to improve its financial results and risk-based capital, which had been affected by blocks of business purchased in the past. During an Examination of United Security Assurance Company, the Pennsylvania Department of Insurance (“PA DOI”) determined that the Reinsurer’s assets, which back the policyholder reserves for the business transferred to the reinsurer, were substantially invested in subsidiaries and affiliates of a large private company. The PA DOI and the Company have concerns about the Reinsurer’s assets and would like them
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