Over the past few months, we’ve introduced two enhancements on Income Advantage IUL and Life Protection Advantage IUL that will help speed up your IUL sales: IUL on Speed eTicket and improved IUL illustrations. IUL on Speed eTicket and using Accelerated Underwriting: Speed eTicket Parameters: Face Amounts up to $5 million; Ages 18+ See the Speed eTicket flyer for additional parameters Please note: Lab requirements will be needed for cases outside Accelerated Underwriting parameters Accelerated Underwriting Parameters: Face amounts up to $1 million; ages 18-55; standard, standard plus, preferred and preferred plus classes See the Accelerated Underwriting flyer for additional
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Updated Transmittal Forms are Now Available
Beginning July 14, 2020, the Transmittal Forms on our Sales Professional Access producer website have been updated to include a Call Center checkbox. Call centers are becoming more prevalent in the insurance and financial services industry, and it’s important for Mutual of Omaha to know which of our agencies are operating as Call Centers. It’s also important to recognize that not all agencies conducting business over the phone are considered a Call Center. Use our Call Center Guidelines flyer to help determine if your agency or an agency in your downline would qualify as a Call Center. If you have
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Rate Adjustments Effective October 1, 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective October 1, 2020: Block of Business Impacted States LTC06UI Arizona For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders will receive
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The Extras on Life Protection Advantage IUL
Life Protection Advantage IUL has competitive long-term no-lapse guarantee premiums. But that’s not all. The product also comes with value-added features that many competitors don’t offer. A Guaranteed Refund Option Rider Unlike many other IULs, qualifying Life Protection Advantage IUL policies come with a premium refund option when clients pay the ‘guarantee to 85’ premium level. With this feature, if your clients no longer need their life insurance coverage, they have seven 60-day windows in which they can surrender their policy and receive their premiums back. A Terminal and Chronic Illness Rider — at no additional cost Life Protection Advantage
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Important Information Regarding EMSI Closure
On Friday, July 3, one of our approved paramedical companies, Examination Management Services Inc. (EMSI), announced they were ceasing operations effective immediately. This closure impacts exams and APSs ordered by the agent through EMSI. Please note: This does not impact exams and APSs ordered by the Mutual of Omaha home office since those are ordered through ExamOne. What You Need to Do: Any exams that were scheduled by the agent through EMSI will need to be rescheduled using one of the approved paramedical companies listed below. If your client has an exam scheduled with EMSI, it is important to let
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Online Applications Can Simplify Your Life
We are proud to offer a diverse Simplified Issue product portfolio so you can find the right solution for each of your clients – and fast. Term Life Express, Living Promise Whole Life (Final Expense), Children’s Whole Life, Accidental Death and most recently – IUL Express and GUL Express – are all available on iPipeline e-Application. Some of the benefits of using an e-Application: Helps you complete the application in good order – saving you and your client time Ensures you are always you using the correct forms Quicker issue for your clients – which means you get paid faster
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Independence Day Office Closing 2020
Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on Friday, July 3rd for Independence Day. 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 Independence Day, Friday 7/3/2020 Tuesday, 6/30/2020 Tuesday, 6/30/2020 Monday, 6/29/2020 Monday, 6/29/2020 Friday, 7/3/2020 Weekly and holiday pay schedules are also available on the Sales Professional Access (SPA) website. If you have any questions, please contact your Sales Director
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Understanding your Exposure with Telephone Solicitations
Telephone solicitations are an important aspect of insurance marketing. Unfortunately, this has become a high-risk endeavor. The Telephone Consumer Protection Act of 1991, better known as the TCPA, was enacted to protect consumers from unwanted telemarketing calls and faxes. It imposes liability in the form of regulatory fines and incentivizes private plaintiffs to pursue claims with statutory damages of $500 to $1,500 per call, with no limit. Attorneys’ fees for defending TCPA actions can easily reach hundreds of thousands of dollars and multi-million dollar settlements are, unfortunately, a common occurrence. Agents and brokers are expected, and contractually required, to act
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Improved Sales Support Service Line
As we mentioned in May, Mutual of Omaha has been working on changes to the prompts on our Sales Support toll-free phone line (1-800-693-6083). We are happy to announce these changes have now been fully implemented. To better serve you, we now provide prompts allowing you to select the department, service or product you are calling in for and route you directly to the correct representative that can help. Please listen carefully to these prompts, as these enhancements will help shorten wait times, lessen the number of transfers and overall provide for a quicker service response. We appreciate your business
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A New Look for All of Your IUL Illustrations
Beginning July 1, 2020, we are enhancing our fully-underwritten IUL illustrations in design, functionality and speed. These improvements to our Income Advantage IUL and Life Protection Advantage IUL illustrations in WinFlex Web reinforce our commitment to delivering high quality, simple, transparent products to the IUL marketplace. The Look The new illustrations use a cleaner design that complements the Mutual of Omaha brand. The tables have been redesigned to make them easier to read. Plus, by using a combination of landscape and portrait pages, we are now able to fit all of the values you need on each page. The Functionality
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