Inforce LTCi Rate Adjustments Effective June 1, 2024

Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective June 1, 2024. Impacted Forms Impacted States LTC04I Vermont LTC0417 Vermont LTC09M Vermont LTC06UI Vermont LTC09U Vermont LT50, NH50, HCA, HCAQ, LTA, LTAQ, NHA and NHAQ South Carolina   For details on yearly rate adjustment percentages, view the supplemental grid here.   Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

AM Best Affirms Mutual of Omaha’s Financial Rating

AM Best Affirms Mutual of Omaha’s Financial Rating AM Best performed their annual rating committee review on Mutual of Omaha and affirmed our financial strength rating of A+ (Superior) with a stable ratings outlook. The ratings reflect Mutual of Omaha’s balance sheet strength, which A.M. Best categorizes as very strong, as well as our strong operating performance, favorable business profile and appropriate enterprise risk management. Mutual of Omaha’s favorable business profile is anchored by its diversification of products and our multiple distribution channels leading to our capitalization level being very strong and considered favorable relative to our peers. For more
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Categories: Accident Insurance, Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Inforce LTCi Rate Adjustments Effective May 1, 2024

Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments in the state of Arkansas, effective May 1, 2024. Impacted Forms 2024 Increase LTC04G 15% LTC04I 15% LTC04I7 15% LTC09M 15% LTC06UI 15% LTC09U 15%   Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate increase effective date as outlined above. Along with the premium rate increase notification letters, most policyholders will
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

LTCi Inforce Rate Increases Effective April 1, 2024

Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective April 1, 2024. Impacted Forms Impacted States LTC04I Hawaii LTC09M Hawaii LTC09U Hawaii LT50, NH50, HCA, LTA, and NHA Vermont   For details on yearly rate adjustment percentages, view the supplemental grid here. Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate increase effective date as outlined above. Along with the
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Reminder: Living Promise Application Update

There is a new application form for our Living Promise Whole Life product. The new paper application form number is ICC23L681A and is currently available in Forms and Materials, or through your normal ordering channels. The new application form is now required to be used for all applications. If an old form is received, you will be asked to resubmit using the new application. Here’s a list of state-specific form numbers: California (T209LCA23A) Florida (T210LFL23A) Kansas (ICC23L687A) Maine (ICC23L682A) Minnesota (T212LMN23A) Montana (T213LMT23A) North Carolina (T214LNC23A) North Dakota (T208LNA23A) Oklahoma (T215LOK23A) South Carolina (T208LNA23A) South Dakota (T208LNA23A) Virginia (ICC23L682A) Vermont
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Inforce LTCi Rate Adjustments Effective March 1, 2024

Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective March 1, 2024 impacting the states of Georgia, Alabama and Delaware. Policy Forms Impacted – Georgia & Alabama LTC04G, LTC0417, LTC04I, LTC06UI, LTC09M, LTC09U Policy Forms Impacted – Delaware LTC06UI For details on yearly rate adjustment percentages, view the supplemental grid.   Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

California Approves Living Promise Underwriting Enhancement

The state of California has approved a new underwriting enhancement for our Living Promise whole life insurance product. Effective December 6th, 2023, the following improvement have been implemented: We’ve lowered the age for diabetes for the Graded Benefit Plan to 45. For Transition Rules regarding applications: Electronic and paper applications using the old form must be signed no later than December 20th, and received at the home office by December 31st to be accepted. Electronic and paper applications signed on or after January 1st, 2024, must use the new application form If you have any questions, please contact Mutual of
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Updates to the Book of Business Tool

The Book of Business download has been enhanced, on Sales Professional Access (SPA) to include a complete list of the inforce Mutual of Omaha policies you have sold now including Prescription Drug Plans and Mutual Income Solutions, effective December 13, 2023. This enhancement will make it even easier to figure out what types of policies your clients may have and prepare to answer any questions. To learn more about the Book of Business feature, review the Book of Business Instructional Flyer.   Updates to the Book of Business Tool   #goldencareagent #mutualofomaha
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Categories: Accident Insurance, Critical Illness, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Legacy LTC Inforce Rate Increase Effective February 1, 2024 (HI)

We will be implementing the following inforce rate adjustments effective February 1, 2024 impacting the state of Hawaii. Policy Forms Impacted: LT50, NH50, HCA, NHA, LTA. 2024 2025 2026 Benefit Period: Non-Lifetime 3.00% 0.00% 0.00% Lifetime 20.00% 20.00% 17.36%   Policyholder Notification Process Policyholders will receive a letter notifying them at least 60* days prior to the premium rate increase effective date as outlined above. Along with the premium rate increase notification letters, most policyholders will receive an adjustment offer if there are options available. The offer will provide the policyholder a benefit reduction alternative to help reduce the impact
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Thanksgiving Holiday Office Closing and 2023 End of Year Pay Dates

Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on Thursday and Friday, November 23rd and 24th for the Thanksgiving holiday. Below are the cut-off dates and times and the adjusted pay schedules. Holiday Pay Calculation Schedule Med Supp E-App & All Life Cutoff 3:00 PM Health Cutoff 3:00 PM Long Term Care Cutoff 3:00 PM Direct Deposit (EFT) Available The 23rd & 24th of November, Thursday and Friday 11/23/2023-11/24/2023 Monday 11/20/2023 Monday 11/20/2023 Friday 11/17/2023 Friday 11/17/2023 Friday 11/24/2023   Weekly and holiday pay schedules are also available on the Sales Professional Access
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Categories: Accident Insurance, Critical Illness, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).