First announced in our April 2019 Underwriting Operation teleconference, the LTC field underwriting guide has been updated to include the newest guideline improvement: TENS units are now accepted. What are TENS units? TENS units, or transcutaneous electrical nerve stimulation units, are battery-operated devices used to treat pain. They work by delivering small electrical impulses through electrodes that have adhesive pads attached to a person’s skin and are an excellent noninvasive method for relieving pain. Clients with TENS units currently in use will be rated based on specific health condition. Review the changes on page 53 here, access the guide on
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Final Reminder: October 1st Updates for 2017 CSO Table Changes
As a final reminder, on October 1, 2019, United of Omaha will be modifying our GUL and GUL Express products due to the implementation of the 2017 Commissioners Standard Ordinary (CSO) Tables. Product Impacts Guaranteed Universal Life (GUL) The product will be updated with the new CSO tables, resulting in a mix of increases and decreases in premiums. The Disability Continuation of Planned Premium Rider will be introduced on GUL in California at the same time. Guaranteed Universal Life Express (GUL Express) The product will be updated with the new CSO tables, which has resulted in decreases in the lifetime
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Case Study: A New LTC Producer Uses Underwriting Tools to His Advantage
Don is a new long-term care insurance agent based in St. Louis. As he learns the industry and product, Don has found it useful to carry the MutualCare® Solutions Underwriting Guide as an aid while screening clients. Recently, Don was working with a 65-year-old male applying for the Custom Solution. Having already familiarized himself with the build chart before the meeting, Don knew to quote no better than Class 1 based on the client’s height and weight. However, during the prescreen Don learned of a pre-diabetes diagnosis. Unsure how to proceed, Don consulted the Underwriting Guide. Under “Diabetes” the guide
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Video Interview with Chief LTC Underwriter Carol Carville
Go behind the scenes with Carol Carville. We hope the video interview with Demerri Bond was helpful and insightful. We’re excited to bring you the next in the series, a candid interview with underwriter Carol Carville. Carol has worked in group medical, life, disability and now long-term care, so her perspective is unique and varied. In the video, she talks about common application mistakes and why the relationships she has with producers in the field is so important to her and our business. Don’t miss it! Video Interview with Chief LTC Underwriter Carol Carville #goldencareagent #mutualofomaha
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Strength Must Be Earned – Even in the Insurance Industry
When we offer a product, we know we’re staking a century’s worth of hard-won reputation on it. So we know our IUL products have to be honest and simple. It may sound easy, but the IUL products that are on the market today are growing more complex and increasingly difficult for clients to understand. But not ours. We pride ourselves on having the moral strength to do what’s right for clients and provide them with an IUL that does what they were originally designed to do – offer upside potential and downside protection. Simple. Transparent. Honest. Now that’s strong —
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August 22nd Underwriting Teleconference Recording Now Available
We appreciate your attendance and enjoyed answering all your questions at the third LTC underwriting teleconference. During the call you heard from Aaron Smallwood, Supervisor Underwriting Support for LTC, Demerri Bond, LTC Underwriting Manager, and Allen Gregoire, our Director of Underwriting for all individual health. Didn’t make it? That’s OK! We recorded it for you. All teleconferences are available for download on Sales Professional Access under Sales Tools > Product Education. Listen to last week’s teleconference now. Make sure to add the remaining bi-monthly teleconferences to your calendar. Please email us suggestions on topics or questions you’d like
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We’re Strongest When We Work Together
Nothing is More Powerful than Passionate People Working Together. Recently, we’ve seen the IUL industry beginning to use complex product features to enhance their hypothetical illustration values. This has taken the focus off of doing what’s right for clients and put it on to which company can manipulate their product to illustrate better values. Choosing a product based on these illustrated values might be appealing, but it may not be what’s best for our industry in the long run. We need to get back to selling IULs based on what they were designed to do and provide customers with a
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LTC Post-Issue Requirements: Amendment Scenarios
Last week you read the overview of the three types of post issue requirements for LTC policies: amendments, outstanding premiums and Policy Delivery Acknowledgments. Amendments must be returned to Mutual of Omaha within 60 days of your client’s policy being issued. Changes made within the first sixty days from issue will also require a returned amendment. The Benefit Change form found in the issue kit may be used to request a benefit change but is not required, nor is it a replacement for an amendment. Amendments are required for a variety of situations, including: Missing Application Requirements When an application
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Clarification on Lumico’s Underwriting Process
Clarification on Lumico’s Underwriting Process It has been mentioned by several agents that during the underwriting process Milliman RX Rules has been making underwriting decisions, based on the drugs they show for an individual applying for Lumico’s medicare supplement plans. We believe this is happening because when a client is declined due to a particular drug or combination of drugs we suggest the applicant contact Milliman to see and confirm the drugs they have listed are actually correct. The results received from Milliman are then reviewed by Lumico for a underwriting decision. Milliman in no way makes these underwriting decisions
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October 1st Updates for 2017 CSO Table Changes
On October 1, 2019, United of Omaha will be modifying our GUL and GUL Express products due to the implementation of the 2017 Commissioners Standard Ordinary (CSO) Tables. Product Impacts Guaranteed Universal Life (GUL) The product will be updated with the new CSO tables, resulting in a mix of increases and decreases in premiums. The Disability Continuation of Planned Premium Rider will be introduced on GUL in California at the same time. Guaranteed Universal Life Express (GUL Express) The product will be updated with the new CSO tables, which has resulted in decreases in the lifetime guarantee premiums. We will
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