Effective December 23, 2021, all Indexed Universal Life products will now be listed under a new product type drop-down, Indexed Universal Life. The drop-down change will also affect the drop-downs in Forms and Materials. All forms and materials for IUL products will be located under Indexed Universal Life effective December 23, 2021. For a detailed look at the changes, including screenshots please refer to this overview. Thank you for your patience and cooperation as we complete this update and if you have questions, please reach out to a member of your Life Brokerage Sales Team. Reminder: iPipeline Product Type
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Life Protection Advantage IUL Product Enhancement Available in California January 1, 2022
We are pleased to announce that effective January 1, 2022, the Life Protection Advantage IUL’s long-term, no-lapse protection guarantee will be extended from age 85 to 90 for the state of California. And, we are providing this additional 5-year guarantee at no additional cost for level-pay premium illustrations!* This exciting new enhancement helps make Life Protection Advantage even more competitive in the industry. In addition to providing protection that is guaranteed to age 90 at competitive premiums, Life Protection Advantage also offers: Competitive Protection Beyond Age 90 While the average 50-year-old in the U.S. has a life expectancy in the
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Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
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Good News in 2022: Living Promise Graded Reprice
Our Living Promise Graded Benefit Plan offers affordable coverage and competitive product features and now on January 1, 2022, you will also see rate decreases in many of the age bands. Here’s what you need to know: Rate Adjustments Rate adjustments will be a mix of decreases and increases and may vary by age and sex. You can view the new rates by referring to the quoting software beginning January 1, 2022. Transition Rules Applications signed prior to January 1, 2022, will receive the old rates. Applications signed on January 1, 2022, or after will receive the new rates. Quoting
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REMINDER: New EFT Direct Deposit Requirements
Effective February 1, 2022, Mutual of Omaha will require an electronic deposit for all commission payments. Enrolling in EFT will get you paid in a more timely, secure, and convenient manner with no checks needing to be deposited. Once compensation totals more than $25, we will send an electronic payment directly to the bank that is in your profile on Sales Professional Access. Failure to enroll in EFT will result in your commissions being delayed and will be paid annually in January following the end of a calendar year. Please add or update your electronic deposit information by January 31,
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Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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Inforce Long-Term Care Insurance Rate Adjustments Effective March 1, 2022
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 February 1, 2022: Effective Date States Impacted Policy Forms Impacted Benefit Period 2022 Rate Increase 2023 Rate Increase 3/1/2022 Georgia LT50, NH50, HCA, NHA and LTA Non-Lifetime 15% N/A 3/1/2022 Georgia LT50, NH50, HCA, NHA and LTA Lifetime 15% N/A 3/1/2022 Michigan LT50, NH50, HCA, NHA and LTA Non-Lifetime 30% N/A 3/1/2022 3/1/2023 Michigan LT50, NH50, HCA, NHA and LTA Lifetime
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Living Promise Prospecting Postcard
Promote Living Promise Whole Life (Final Expense) to your prospect list with this customizable postcard. It explains the basics of Living Promise and you can select specific rates to highlight. Call Mutual of Omaha’s Sales Support at 1-800-693-6083, or email sales.support@mutualofomaha.com to customize your order! Living Promise Prospecting Postcard #goldencareagent #mutualofomaha
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Updated LTC Rider Underwriting Guide Available
The LTC Rider Information and Underwriting Guide has been updated and is now available to order. All materials are available to view/download through SPA or can be ordered through your normal channels. If you have questions, please contact your Account Executive or Sales Director. Updated LTC Rider Underwriting Guide Available #goldencareagent #mutualofomaha
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Inforce Long-Term Care Insurance Rate Adjustments Effective February 1, 2022
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 February 1, 2022: Effective Date States Impacted Policy Forms Impacted Benefit Period Overall Rate Increase Per Year 2/1/2022 Arkansas LT50, NH50, HCA, NHA and LTA Non-Lifetime 25% 2/1/2022 Arkansas LT50, NH50, HCA, NHA and LTA Lifetime 25% Policyholder Notification Process Policyholders will receive a letter notifying them at least 60 days prior to the premium rate increase. The effective date
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iPipeline Product Drop Down Update
On December 1, 2021, we are updating the iPipeline product type drop-downs. Here’s everything you need to know. What’s Changing We are adding a NEW product type drop-down, Indexed Universal Life, where you can find all Indexed Universal Life products. Beginning December 16, 2021, these products will no longer be listed under the Universal Life product drop-down. We made minor changes to the application names for Term Life, Whole Life, and Universal Life products. Please note, these changes will not affect your pending applications. For a detailed look at the changes, including screenshots of the new drop-downs, please refer to
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New EFT Direct Deposit Requirements
Effective February 1, 2022, Mutual of Omaha will require an electronic deposit for all commission payments. Enrolling in EFT will get you paid in a more timely, secure, and convenient manner with no checks needing to be deposited. Once compensation totals more than $25, we will send an electronic payment directly to the bank that is in your profile on Sales Professional Access. Failure to enroll in EFT will result in your commissions being delayed and will be paid annually in January following the end of a calendar year. Please add or update your electronic deposit information by January 31,
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Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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