LTC Riders: Understanding the Differences in Design

Our LTC Rider on Income Advantage IUL and Life Protection Advantage IUL follows what is known as a reimbursement rider model. Many other companies use an indemnity model. Knowing the difference is important. Here’s a basic definition: Indemnity — Policyowner can take rider benefits up to the maximum monthly benefit limit regardless of the actual expenses incurred. Reimbursement — Policyowner is reimbursed based on actual expenses incurred by the insured, up to the maximum monthly benefit limit. At first glance based on the definitions alone, an indemnity rider may seem like the obvious choice, that your client has access to
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Updated Product Portfolios and Underwriting Guides

The Life Insurance Underwriting Guidelines and Product Portfolio have been updated and are now available to order. Click below to view/download directly: Underwriting Guidelines Product Portfolio   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 Product Portfolios and Underwriting Guides   #goldencareagent #mutualofomaha
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Initial Premium Bank Draft Update

In April, we announced an enhancement to our payment system. On all Life products, your clients’ initial premium payments would draft their bank accounts on the day they requested it instead of a few days after. Currently, there is a production issue affecting the enhancement we installed in April and initial premium bank drafts are being processed one to two business days after the date requested. Our IT team is working on a fix to correct this issue as soon as possible. We will notify you as soon as we repair the issue.   If you have any questions, please
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Final Reminder: August 1st Updates for 2017 CSO Table Changes

As a final reminder, throughout the remainder of 2019, United of Omaha will be modifying the products in our life insurance portfolio as we implement the 2017 Commissioners Standard Ordinary (CSO) Tables. Product Impacts The first phase of product changes will be implemented on August 1, 2019: Income Advantage IUL will be updated with the new tables. Impacts of these modifications include: There will be slight increases and decreases in our premiums, required minimum face amounts and disbursement amounts. Disbursement amounts will be consistently within 2% in either direction from our current disbursements, with very minor changes in our competitive
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Holiday Telephone Solicitation Bans for the Month of August 2019

Please be aware of the following holidays requiring a holiday telephone solicitation ban for the month of August. On Monday, August 12, 2019: Rhode Island prohibits unsolicited marketing calls to residents in observance of Victory Day On Friday, August 30, 2019: Louisiana prohibits unsolicited marketing calls to residents in observance of Huey P. Long Day Holiday Telephone Solicitation Bans for the Month of August 2019   #goldencareagent #mutualofomaha
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Categories: Industry News and Mutual of Omaha (& Affiliates).

Customize Your Own Living Promise Postcard

Living Promise Whole Life Insurance can help ease the financial burden associated with outstanding medical bills, debt and final expenses. It offers your clients affordable premium rates that never increase, no medical exam is required and the policy can’t be canceled as long as premiums are paid and there has been no material misrepresentation. Call Mutual of Omaha’s Sales Support at 1-800-693-6083 to customize our Living Promise rate postcard today!   If you have questions, please contact Mutual of Omaha’s Sales Support at 800-693-6083 or email sales.support@mutualofomaha.com.   Customize Your Own Living Promise Postcard   #goldencareagent #mutualofomaha
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

AccumUL Answers is Available in California on August 1st

Effective August 1st, AccumUL Answers is approved for sale in California. AccumUL Answers offers your clients both a permanent death benefit and the potential to accumulate a cash value. This provides flexibility down the road if coverage needs change. You can also customize your client’s coverage with a variety of riders, including the riders below. The Accelerated Death Benefit for Terminal and Chronic Illness Riders. The Chronic Illness Rider provides benefits if the insured is unable to perform two of six Activities of Daily Living for 90 consecutive days or has severe cognitive impairment. The Terminal Illness Rider provides benefits
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Business Planning Strategies Using the Guaranteed Refund Option

Life insurance can be an important planning tool for business owners. If you have business clients that want a Guaranteed Universal Life product, make sure they understand the additional value provided by the Guaranteed Refund Option rider on United of Omaha’s GUL. The GRO rider provides flexible options for business owners who are planning for the future of their company. And, it is available at no additional cost on qualifying policies. Here are three scenarios in which a life insurance policy with a Guaranteed Refund Option rider can benefit your business clients.   If you have questions, please contact Mutual
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

Fourth of July Office Closing 2019

Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on Thursday, July 4th and Friday, July 5th 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, Thursday 7/4/2019 and Friday, 7/5/2019 Monday 7/1/2019 Monday 7/1/2019 Friday 6/28/2019 Friday 6/28/2019 Friday 7/5/2019 Weekly and holiday pay schedules are also available on the Sales Professional Access (SPA) website. If you have
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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).

Holiday Telephone Solicitation Bans for the month of July 2019

Please be aware of the following telephone solicitation bans for the month of July. On Thursday, July 4, 2019: Alabama, Louisiana, Mississippi, Rhode Island, and Utah prohibit unsolicited marketing calls to residents in observance of Independence Day On Wednesday, July 24, 2019: Utah prohibits unsolicited marketing calls to residents in observance of Pioneer Day Holiday Telephone Solicitation Bans for the month of July 2019   #goldencareagent #mutualofomaha
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Categories: Industry News and Mutual of Omaha (& Affiliates).