Act now to save your clients up to 49%!
To position their solutions for long term viability, Mutual of Omaha will be implementing pricing changes on March 1 to new business sold in the following states: Arizona, Connecticut, Indiana and Vermont
These changes will include reductions in the couples discounts and in the built-in Cash Alternative.
In other states, we’ve seen premiums being up to 49% higher in some instances. Those most impacted are:
- Couples Discount
- SharedCare
- 3% Compound Inflation
Transition Rules and Deadlines
Paper Applications
- Applications with a signed date of March 1, 2021, and later will get the new rates and benefits and will require our new application.
- Applications signed prior to March 1, 2021 and received in the home office on or before March 12, 2021, will receive the current rates and product benefits.
- Old applications received after March 12, 2021, will not be accepted regardless of application sign date. Applications will be closed, and a new application will be required to apply for coverage.
- No exceptions will be made.
e-Applications
- If you have a pending e-Application started, it must be signed on or before February 28, 2021, to receive the old rates and benefits. You can access your pending application, complete and submit like normal.
- Pending e-Application must be submitted to the Home Office no later than March 12, 2021, or it will not be accepted.
Marketing Materials and Forms
- Old paper applications will be available for download only on Sales Professional Access until February 28, 2021.
- New paper applications, e-Applications and marketing materials will be available on March 1, 2021.
Need help in beating these Mutual of Omaha deadlines? Contact our wholesaling team immediately for assistance in helping you obtain the best rates and benefits for your clients!
CLICK HERE for the original Mutual of Omaha bulletin on this change.