Last Updated: August 24
Mutual of Omaha
- Flexible Payment Options Available for Living Promise e-Apps and Paper Apps. We now offer flexible payment date options for the Living Promise (Final Expense) e-Application and paper application. For e-Applications, the e-App screens have been updated to include payment options that allow you to select flexible payment dates. Please review the Living Promise e-App screen shots for further instructions. For paper applications, the new payment authorization forms for United and Companion have been added to the Living Promise (Final Expense) application packets. If you have a client with an in-force Living Promise policy that is interested in changing their payment date, they can now log into Customer Access to select flexible dates. Or they may complete the Automatic Deduction form for United or Companion and submit to Policyowner Services for processing.
- Flexible Payment Options Coming Soon for Paper Applications. Policyowners want flexibility in scheduling their payments based on their budget and lifestyle. Effective August 18, 2017 we will offer new, flexible options for automatic deductions. Flexible payment options will be available on paper applications for reoccurring payments for all products. A new payment authorization form will need to be submitted with the application.
- Static dates: 1-28 of each month
- Flexible day: Last day of the month
- Week/day combination (your customer can select a combination of the options below):
- Either the first, second, third, fourth or last week of the month AND
- Either Monday, Tuesday, Wednesday, Thursday or Friday
- Examples of the week/day combinations:
- Your customer chooses to have their payment on the third Wednesday every month;
- Your customer chooses to have their payment on the first Monday of every month;
- Your customer chooses to have their payment on the last Friday of every month.
- Rate Adjustments Effective November 1, 2017. 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. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow 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 November 1, 2017: Florida and Georgia & Mississippi.
- MutualCare Solutions Product and Underwriting Guide Updates. The LTC Product and Underwriting Guides, along with supporting underwriting forms or processes, are being updated to provide you with information and guidelines that are consistent with the way we will be processing and underwriting our MutualCare Solutions Long-Term Care Product Portfolios. These updates are effective 8/14/17. This updated information is provided in order to equip you with the tools needed to better support field underwriting. After an extensive study of cases conducted earlier this year, we have implemented a new underwriting process. Rather than wait until all underwriting evidence is in, Underwriting will now review each piece of underwriting evidence as it is received, then determine if and what additional underwriting requirements are needed. Any additional requirements needed would be determined by the underwriter. This means Medical records may not be immediately requested. If they are needed, they may be ordered during the review of the application, prescription history, MIB, and telephone interview. This should reduce the number of medical records ordered and improve overall turnaround time.
Need help with any of Mutual of Omaha's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Principal
- Principal Universal Life Protector IVSM Re-Price Coming in August. Effective August 28, 2017, we’ll be updating Principal Universal Life Protector IV pricing for new-issue policies. Taking this action helps ensure the ongoing viability of the product and allows us to continue to deliver on the commitments we have to current policyholders. Rates will increase approximately 4 percent, with some rates higher and some lower than this overall average. Click the link above for details.
Need help with any of Principal's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Protective
- Term Insurance From Protective. Our new term is tailored for clients who may be starting out or just looking for solid, inexpensive coverage. This means your agents now have two short-term choices from Protective to offer clients—Protective® Classic Choice term and Protective Custom Choice SM UL. Click the link above for details.
Need help with any of Protective's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Prudential
- PruLife SUL Protector - Price Increase Starting August 21st. On Monday August 21, 2017, PruLife SUL Protector changes will be introduced, subject to state approvals. August 21, 2017 (Ready to Sell Date): New Rates for the revised product are in effect. The current face amount limit of $10 million is removed for New Rates. All applications signed and dated on or after August 21, 2017 will receive New Rates (unless Old Rates are requested and permitted). September 10, 2017 (Transition Period End Date): Last day that an application can be signed with a request for Old Rates.
- If Old Rates are desired for an application dated during the 21-day Transition Period, a written request, along with the appropriate presentation version, must be submitted on or after the state introduction date
- The face amount limit of $10 million is still in effect for Old Rates
- Applications dated September 11th and later will receive the New Rates only
Need help with any of Prudential's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
SBLI
- SBLI of MA Completes Conversion to Mutual Insurance Company. The Savings Bank Life Insurance Company of Massachusetts (SBLI) today announced the successful completion of its conversion from a stock insurance company owned by 30 shareholder banks to a mutual insurance company owned by its policyholders. Following the conversion, the company’s name will change to The Savings Bank Mutual Life Insurance Company of Massachusetts.
- SBLI’s Flex PUA Rider Is Being Suspended. Effective August 14, 2017, the Flex Pay Paid-Up Additions Rider (Flex PUA Rider) is being suspended and will no longer be available. The SBLIAgent.com and Winflex illustration systems will continue to support the Flex Whole Life product line with its remaining seven riders. Only the Flex Pay Paid-Up Additions Rider will no longer be available, effective August 14, 2017. Flex Whole Life applications with a Flex Pay Paid-Up Additions Rider will continue to be accepted by the Home Office with a supporting illustration, until September 15, 2017.
Need help with any of SBLI's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Symetra
- Introducing Symetra's External Term Conversion Program. Policyholders who have purchased a fully underwritten single life term insurance policy from our select group of carriers within the last five years may be eligible to convert that external term policy to a permanent Symetra UL-G or CAUL policy. The following guidelines will apply to external term conversion cases: Available products: Symetra UL-G, Symetra CAUL; Minimum face amount is $100,000; Maximum face amount is $1,000,000. Click the link above for details on underwriting guidelines and eligibility.
Need help with any of Symetra's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
