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, 2023: Impacted Forms Impacted States LTC04G Florida LTC04I Florida LTC09M Florida LTC06UI Florida LTC09U Florida LT50, NH50, HCA, NHA, LTA Colorado and Missouri 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
Read More
Updates to Covid-19 Underwriting Guidelines
Mutual of Omaha continues to closely monitor our new business and underwriting practices to ensure we create efficiencies and improvements when making business decisions regarding our underwriting guidelines. We are happy to announce the following changes to our COVID guidelines for Fully Underwritten Life, effective March 1, 2023. Acceptance Guidelines Based on Insured’s Issue Age: We are now accepting applications for clients through age 74 and up to table 8, an increase from the prior Table 6 limit Ages 75-79 remain capped at Table 6 Ages 80+ continue to be postponed Clients with a Positive COVID Test A Statement of
Read More
COVID-19, Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
Coronavirus, COVID, COVID-19, Income Advantage, Income Advantage IUL, insurance, IUL, Life Insurance, Life Protection Advantage, Life Protection Advantage IUL, mutual of omaha, Mutual of Omaha Insurance Company, omaha, pandemic, Term Life Answers, Term Life Insurance, TLA, United of Omaha, and virus.
Coronavirus, COVID, COVID-19, Income Advantage, Income Advantage IUL, insurance, IUL, Life Insurance, Life Protection Advantage, Life Protection Advantage IUL, mutual of omaha, Mutual of Omaha Insurance Company, omaha, pandemic, Term Life Answers, Term Life Insurance, TLA, United of Omaha, and virus.
New Simplified Issue Product Updates
We are excited to announce maximum issue age increases to both our IUL Express and Term Life Express Non-ROP (10T) products that will be effective March 1, 2023! These enhancements will position our Simplified Issue product options to be available in more sales scenarios and will serve a wider range of clients. Below are some of the key updates you will need to know: IUL Express Maximum issue ages for both Tobacco and Non-Tobacco ratings will increase to age 75 Currently Non-Tobacco is age 70 and Tobacco is age 65 Maximum face amount for ages 71-75 will remain $150,000 Term
Read More
Flexibility of the Guaranteed Refund Option Rider
The flexibility of our Income Advantage IUL and Life Protection Advantage IUL can benefit your business clients with the Guaranteed Refund Option rider. This no-cost rider can help provide them with cash surrender options when planning for the future of their company, whether they are planning for: Key Person insurance Cross-Purchase Buy-Sell Arrangement Business Succession Planning These are just a few scenarios that may help business clients who need the flexibility of IULs from United of Omaha. If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com. Flexibility of
Read More
Living Promise Provides Affordable Protection
Living Promise Whole Life Insurance may help provide affordable protection that pays benefits directly to the person clients choose to take care of their outstanding medical bills, unexpected expenses or debt they may leave behind. Learn more about Living Promise and help protect your clients and their families today. Living Promise Provides Affordable Protection #goldencareagent #mutualofomaha
Read More
Important Reminders for Life Application Illustration Requirements
Many of our life insurance products require illustrations with the application for insurance. Underwriting and New Business want to reduce confusion and provide clarity on what is required for revised illustrations. When a Life product requires an illustration, the illustration must match how the policy is issued. When changes are made after the application is submitted, a newly signed illustration marked as revised is required to meet compliance standards. This can be accomplished one of two ways: Any time you create an illustration after the application has been submitted, make sure the “Revised” indicator on the policy options tab is
Read More
LTCi Rate Adjustments Effective May 1, 2023
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 May 1, 2023*: Impacted Policy Forms Impacted States LTC04G Utah, Wyoming 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 premium rate increase notification letters, most policyholders will receive
Read More
Inforce Long-Term Care Insurance Rate Adjustments Effective April 1, 2023
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, 2023*: Impacted Policy Forms Impacted States LTC04G Maine*, New Hampshire, New Mexico, Ohio LTC04I Maine*, New Mexico, Ohio LTC04I7 Maine*, New Mexico, Ohio LTC09M Maine*, New Mexico, Ohio LTC06UI Maine*, New Mexico, Ohio LTC09U Maine*, New Mexico, Ohio * The state of Maine requires a 90-day notification period for all policyholders. Therefore, the effective date for the affected
Read More
Help Clients Ease the Financial Burden with Living Promise
Our Living Promise Whole Life Insurance offers simplified underwriting and level and graded benefit plans for seniors to help cover final and other expenses. Whole life insurance can help your clients ease the financial burden associated with outstanding medical bills, debt and final expenses. A Living Promise Whole Life policy offers: Level and graded benefit plans for ages 45-85 Affordable rates that never increase Simplified underwriting for face amounts of $2,000-$40,000 Quick policy issue Accelerated Death Benefits for Terminal Illness or Nursing Home Confinement Learn more about Living Promise Whole Life Insurance in the Product and Underwriting Guide. Help
Read More
Updated Life Underwriting Guidelines
The Life Underwriting Guidelines for Term and Permanent Products has been updated, new for January 1, 2023, and is now available to order. Some changes include: Inspection Reports – page 14 The Fully Underwritten Requirements Chart – pages 16 & 17 Fit Program parameters – page 23 Accelerated UW Program – page 26 Impairments – pages 34, 35 & 38 Remember, all materials are available to view/download through SPA or can be ordered through your normal channels. If you have questions, please contact your Sales Director or Account Executive. Updated Life Underwriting Guidelines #goldencareagent #mutualofomaha
Read More
