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Mutual of Omaha Living Promise Final Expense: Automated Underwriting is Here!

Posted by www.psmbrokerage.com Admin on Thu, Nov 15, 2018 @ 03:41 PM

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AUTOMATED UNDERWRITING IS HERE!

We just received confirmation that the installation of the Instant Decision Living Promise e-App will be the evening of Friday, November 16 and will be live on Saturday, November 17th at 9AM Central.

PLEASE READ FOR IMPORTANT INFORMATION!

How do you get trained?
Mutual created a training video that will walk you through the new and improved application process. The entire presentation is 21 minutes long and while it can be viewed on your mobile devices, it is best viewed on a laptop. Below is the link to the training video: https://www.brainshark.com/mutualofomaha/vu?pi=zJ9zqmkqxzkVyz0
 
With Automated Underwriting, you can deliver instant underwriting decisions to your clients through a faster application process.
 
What do I need to do BEFORE Saturday, November 17th
The iGo eApplication will be automatically updated, so you will not need to download any new software. There are some things you will need to do by Friday, November 16th at 5PM Central

  1. Make sure any Living Promise eApplications you have started are submitted by 5PM Central on Friday, November 16th. Any eApp that is not submitted by then will be deleted during the upgrade.
  2. Make sure you have copies of a blank application with you over the weekend. While we anticipate no problems with the installation, we do not want you to be in a jam while you are in front of a client.
  3. To download the application packets, please visit our producer website at www.mutualofomaha.com/broker and visit “Forms and Materials” to download the appropriate application.



Check out the on-demand training video by clicking the link below. 


Instant Decision for Living Promise® eApp (In Person Signature)

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We’ll notify you as soon as Living Promise Instant Decision is ready, so make sure you are! 
Need a quick refresher on Living Promise? Click here to view this on demand training video.

If you have any questions or would like to get contracted with Mutual of Omaha, please contact us at 800-998-7715 or go here

Additional Updates:
 

Tags: Final Expense, mutual of omaha, living promise

Mutual of Omaha Living Promise Final Expense: Automated Underwriting - It's Almost Here

Posted by www.psmbrokerage.com Admin on Wed, Nov 14, 2018 @ 10:04 AM

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AUTOMATED UNDERWRITING

IT'S ALMOST HERE!!!

Mutual of Omaha is getting even closer to releasing Automated Underwriting for Living Promise (Final Expense) e-Applications and we want you ready to go when we do. With Automated Underwriting, you can deliver instant underwriting decisions to your clients and a faster application process.

Check out the on-demand training video by clicking the link below. 

Instant Decision for Living Promise® eApp (In Person Signature)

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We’ll notify you as soon as Living Promise Instant Decision is ready, so make sure you are! 
Need a quick refresher on Living Promise? Click here to view this on demand training video.

If you have any questions or would like to get contracted with Mutual of Omaha, please contact us at 800-998-7715 or go here

Additional Updates:
 

Tags: Final Expense, mutual of omaha, living promise

Product Spotlight: United of Omaha Living Promise Final Expense

Posted by www.psmbrokerage.com Admin on Fri, Nov 09, 2018 @ 10:27 AM

United of Omaha Living Promise Final Expense

PSM Product Spotlight

UnitedofOmaha_Logo_No_Border

United of Omaha’s’ Living Promise® Final Expense is designed to help provide affordable protection that pays benefits directly to the person you choose to take care of your outstanding medical bills, unexpected expenses or debt that you may leave behind.

Living Promise®  premiums are guaranteed to never increase, and the benefits are guaranteed to never decrease. Your clients will feel secure with the knowledge that they are locking in the price and coverage that work for them.

United of Omaha Living Promise Final Expense Options:

Level Benefit Plan Features:
  • For ages 45-85
  • Face amounts from $2,000 to $40,000 (in WA, $5,000 to $40,000)
  • Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement
  • Optional: Accidental Death Benefit Rider

Graded Benefit Plan Features:

  • For ages 45-80 (in NY, 50-75)
  • Face amounts from $2,000 to $20,000 (in WA, $5000 – $20,000)
  • This policy contains a graded benefit meaning that for death due to natural causes (any cause other than accidental) during the first two years, the beneficiary will receive all premiums plus 10 percent. After the two years, the full benefit is paid for death due to all causes. Full death benefits will be paid, in all years, if death results from an accidental bodily injury

Plus:

  • Offers competitive premiums that fit many budgets
  • Top of the line Agent Portal Tools - for running illustrations, tracking applications, and submitting business.
  • Top of the line E-Application – seamless technology to complete enrollments over the phone.
  • Top of the line Administration - quick turnaround, email notifications, etc.
  • Top of the line Agent Support – quick and reliable answers, short waiting times.
  • Simplified underwriting. No medical exam – coverage is based on your answers to a few simple health questions.
  • A great product with a strong brand and from a stable and secure company that you know *Not available in AR, MT, NC.

Automatic Underwriting:

  • Mutual of Omaha will soon offer Automated Underwriting on e-Applications for their Living Promise® Final Expense product. Automated Underwriting delivers instant underwriting decisions for clients when using the iGO e-App platform.
  • Simply complete the e-App for Living Promise and the new automated underwriting feature will work in the background.

Key points about Automated Underwriting:

  • Provides an instant underwriting decision — Possible outcomes include: Approved (with level benefit), Approved (with graded benefit), Referred to Underwriting (you or your client will be contacted for more information), or Declined.
  • Mobile friendly - It's available on mobile devices so it goes where you go

Mutual of Omaha quoting application - Click to download in the iTunes App Store

Mutual of Omaha quoting application - Click to download in Google Play


Mutual of Omaha has additional information in this Flyer

Mutual of Omaha Automatic Underwriting

 

Policy Exclusion:

The death benefit will not be paid if the insured commits suicide, while sane or insane, within two years from the contestability date (in ND, within one year). Instead, we return all premiums paid, minus any loan. (May not be available in all states.)

Call now to talk to one of our stellar marketing staff for details on how you can start selling these plans today.

Not appointed with United of Omaha? We encourage you to learn more and put this in-demand product in your portfolio, request details here

Additional Updates:
 

Tags: Final Expense, product spotlight

Withdrawal of PlanRight Voice Signature Telesales

Posted by www.psmbrokerage.com Admin on Mon, Nov 05, 2018 @ 08:23 AM

Withdrawal of PlanRight Voice Signature Telesales

ForestersFinancial_Logo_No_Border

Over the past number of years Foresters has worked to ensure that PlanRight remains a sustainable product for the final expense market. Unfortunately PlanRight sold through the Voice Signature process (VSOP) has continued to see high levels of non-disclosure and higher than expected claims, causing a negative impact on PlanRight as a whole.

Foresters recognizes that for many of you, VSOP is a key part of your portfolio. And while we remain committed to PlanRight as a product, we have made the difficult decision to withdraw the VSOP telesales option from sale effective November 30th, 2018.

You can continue to sell PlanRight through VSOP up until November 30th. All VSOP personal health interviews (PHIs) must also be completed by November 30th. As of December 1st, the “PlanRight Voice Auth Final Expense” product will no longer be a product option on Apptical’s LiveApp website. Any incomplete or pending applications will also be deleted from LiveApp.

PlanRight can continue to be sold through the traditional face-to-face sales process. Foresters Financial™ is committed to the final expense market; we’re excited to be making updates to PlanRight in 2019, and continuing our partnership with you.

Questions?
If you have questions regarding PlanRight Voice Signature please contact the Sales Desk at 1‑866‑466‑7166 option 1. If you have questions about the status of a submitted application, please contact the Service Center at 1‑866‑466‑7166 option 2

Additional Updates:
 

Tags: Final Expense, Whole Life, Foresters

Mutual of Omaha to Offer Automated Underwriting for Living Promise Final Expense

Posted by www.psmbrokerage.com Admin on Thu, Oct 25, 2018 @ 03:28 PM

Mutual of Omaha to Offer Automated Underwriting for Living Promise Final Expense

Mutual of Omaha will soon offer Automated Underwriting on e-Applications for their Living Promise® Final Expense product. Automated Underwriting delivers instant underwriting decisions for clients when using the iGO e-App platform. Simply complete the e-App for Living Promise and the new automated underwriting feature will work in the background.

Key points about Automated Underwriting:

  • Provides an instant underwriting decision — Possible outcomes include: Approved (with level benefit), Approved (with graded benefit), Referred to Underwriting (you or your client will be contacted for more information), or Declined
  • Mobile friendly - It's available on mobile devices so it goes where you go
 
Here is a flyer to check out.

 
If you have any questions or would like to get contracted with Mutual of Omaha, please contact us at 800-998-7715 or go here

Additional Updates:
 

Tags: Final Expense, mutual of omaha, living promise

Mutual of Omaha: Final Expense Helps Provide Peace of Mind

Posted by www.psmbrokerage.com Admin on Tue, Sep 18, 2018 @ 10:20 AM

Final Expense Helps Provide Peace of Mind  


By providing affordable coverage to help ease the burden of outstanding medical bills, debt and final expenses, our Mutual of Omaha's Living Promise delivers peace of mind that your clients will appreciate. And with simplified underwriting your agents will like that policies are issued quickly. Share our Living Promise Product and Underwriting Guide for your agent's one-stop shop for Final Expense.

Level Benefit Plan:

  • Death Benefit: 100%
  • Issue Ages: 45-85
  • Face Amounts: $2,000 – $40,000 (in WA, $5,000 – $40,000)
  • Underwriting Classes: Standard Tobacco/Nontobacco
  • Underwriting Requirements: MIB, pharmaceutical check, random phone interviews

ADDITIONAL BENEFITS – LEVEL BENEFIT PLAN ONLY

Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider*

Allows the owner a one-time election to receive the Accelerated Benefit if the insured is either: (a) diagnosed as having a terminal illness that, with a reasonable degree of certainty, will result in the insured’s death within 12 months or less from the date a physician signs the statement of proof of terminal illness, (b) has been confined to a nursing home for 90 consecutive days or more and is expected to remain confined in a nursing home for the duration of the insured’s life; in FL, or (c) certified by a physician that the insured is unable to perform (without substantial assistance from another person) at least two activities of daily living due to a chronic illness.

* Accelerated Death Benefit for Terminal Illness or Chronic Illness Rider in FL; Accelerated Death Benefit for Terminal Illness Rider in CT.

Optional: Accidental Death Benefit Rider

This Rider provides an additional death benefit equal to the policy’s face amount if the death of the insured results from accidental bodily injury and independently of sickness and all other causes.

Graded Benefit Plan*

  • Death Benefit: This policy contains a graded benefit meaning that for death due to natural causes (any cause other than accidental) during the first two years, the beneficiary will receive all premiums paid plus 10 percent. After the two years, the full benefit is paid for death due to all causes. Full death benefits will be paid, in all years, if death results from an accidental bodily injury.
  • Issue Ages: 45-80
  • Face Amounts: $2,000 − $20,000 (in WA, $5,000 – $20,000)
  • Underwriting Class: Standard (no tobacco distinction)
  • Underwriting Requirements: MIB, pharmaceutical check, random phone interviews

*not available in AR, MT, NC

View Living Promise Guide →

Not appointed with Mutual of Omaha? Request details here

Additional Updates:
 

Tags: Final Expense, mutual of omaha

Final Expense Sales: $400 in 2013

Posted by Jeremy Davis on Fri, Sep 12, 2014 @ 08:54 AM

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In a positive piece of news for the life insurance industry, it has been reported that final expense insurance sales reached nearly $400 million in 2013. The Life Insurance Council and CSG Actuarial conducted a survey of 25 insurers, finding that final expense insurance new premium totaled nearly $400 million in 2013, representing 613,000 policies.

“The final expense market has great potential. According to LIMRA Secure Retirement Institute research, 1.5 million Americans are projected to retire each year until 2025 and many of them will need the protection final expense insurance will provide,” noted Jeffrey S. Shaw, LIC executive director. “We are seeing renewed interest from larger insurers, as well as new firms entering the market.”


http://www.lifehealthpro.com/2014/09/08/final-expense-insurance-sales-400-million-in-2013

 

Source: http://www.lifehealthpro.com

Additional Updates:

Tags: Final Expense, Medicare Supplement, Life Insurance Council survey

Introducing a New Final Expense from Phoenix

Posted by Lauren Hidalgo on Fri, Feb 22, 2013 @ 11:26 AM

Medicare Supplements
Phoenix is now offering Remembrance Life, a whole life policy with some very unique riders helping your clients leave a lasting legacy for their loved ones. Phoenix Remembrance can protect those special moments in life; a child or grandchild’s birthday, graduation, going off to college or even your client’s retirement.

Precision Senior Marketing is proud to be an exclusive distributor offering top level direct contracts on the complete Phoenix portfolio.

Phoenix Remembrance Product Highlights:

  • Whole Life insurance with Additional Income Coverage Rider (AICR)
  • Coverage includes lump-sum and monthly income stream death benefits
  • Total coverage amounts $10,000-$100,000 (base plus AICR)
  • Issue Ages 30-80
  • Simplified Issue Underwriting
  • Included riders: Accidental Death, Terminal Illness and Critical Illness

The optional riders available for Phoenix Remembrance make the product unique and versatile.

These optional riders include*:
Legacy Rider – A way for clients to leave a lasting legacy, by sending a birthday present each year, of up to $500
Educational Benefit Rider – Up to $5,000, in four annual payments, for a client’s beneficiary to further their education
Income Term Rider – Helps provide income replacement protection in case of a premature death
Lifetime Income Rider – Designed to help your clients replace Social Security benefits or other income they may lose due to insured’s death

* Available at an additional premium. Age restrictions vary by rider.  For all riders, the named Rider Beneficiary must be alive to receive benefit payments. Rider benefits are only
available upon the death of the insured and will cease at the earlier of the death of the Rider Beneficiary or the term
stated in each rider.

These benefits are discussed in greater detail in the Phoenix Remembrance Quick Reference Guide and Product Summary.

To request information and get contracted on this new, innovative, product please click the “Request Information” link below or call your marketer at 800.998.7715.


Request Information

Phoenix Remembrance Life (ICC12FEWL) is whole life insurance issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in Maine and New York. In Maine and New York, Phoenix Remembrance Life is issued by Phoenix Life Insurance Company (PLIC) (East Greenbush, NY). These insurers are separate entities and each is responsible only for its own financial condition and contractual obligations. Members of The Phoenix Companies, Inc. The Phoenix Companies, Inc. and Precision are not affiliates. Payment guarantees are based on the claims-paying ability of the issuing company. 38680 4/13

For agent use only. Not for use with the public as sales literature.

 

Additional Updates:
  • Competitive Med Supp Rates from Equitable Life - Learn More
  • There's a New Med Supp in Town from Cigna - Learn More
  • Combined Med Supp Now Available for Sale in AZ, SC, WV - Learn More
  • Gerber Life Med Supp Rate Increase for FL - Learn More

Tags: Final Expense, Whole Life, Combined Insurance Medicare Supplement, Equitable Life Medicare Supplement, Gerber Life Medicare Supplement, Cigna Medicare Supplement, Phoenix Remembrance

Penalties for Seniors Who Delay Filing for Medicare

Posted by Lauren Hidalgo on Fri, Feb 03, 2012 @ 09:05 AM

Medicare SupplementsAs you are talking with seniors just aging into the Medicare market, it is important to advise them about the penalties they will pay if they do not sign up for Medicare Part B at the right time. For those seniors who have already filed for Social Security, they will automatically be enrolled in Medicare at age sixty-five. However, seniors who continue in the workforce, either by choice or necessity, and delay their Medicare coverage need to notify Medicare of their decision. Otherwise they will face a 10% Part B penalty for each year that they do not file. So someone filing for the first time at age seventy will face a 50% Part B penalty. The penalty is permanent and can translate into thousands of dollars in unnecessary penalty charges.

For your clients who decide to continue working, advise them to notify Medicare of their decision as soon as they turn sixty-five to ensure they will avoid penalties later. Especially, those seniors who work at a company with over twenty employees, as their employer will continue to provide their benefits. They can do this by choosing the option on the back of the Medicare card that is sent, calling the Social Security Administration, or visiting the SSA website. For their Part D prescription coverage, seniors can delay filing as long as their employer provides equal or better coverage.

Those seniors earning more should also be informed about the surcharges on high-income seniors. Currently, this affects only 5% of seniors, however those still in the workforce are more likely than those retired to fall into the income bracket. The extra charges can be applied not only to Part B, but also Medicare Advantage and Part D coverage.

Advising your prospects of these penalties is great for client retention and relationship growth. While they continue to receive their healthcare from their employer, you can work with them on their final expense, long-term care, and annuity needs until they require a Medicare Supplement.

Please give us your feedback!
Do you have clients who didn't know about these penalties and have suffered inflated costs due to delaying? How do you go about avising your clients who want to delay their Medicare benefits?

Source: KHN

Additional Updates:
  • • New Medicare Supplement from Stonebridge Life - Learn More
  • Sentinel Life Personal Choice Annuity Released in OR & MN - Learn More
  • Freedom is Here with Forethought Freedom Final Expense - Learn More
  • An Exciting New Short Term Care Plan from MedAmerica - Learn More
  • UnitedHealthcare Code Of Conduct/Conflict Of Interest Policy Awareness - Learn More

Tags: United Healthcare Medicare Supplement, Final Expense, Annuities, Senior Market Advice, Medicare Discussion, health insurance news, industry news, Stonebridge Medicare Supplement

Annual Enrollment Period is Over, What's Next?

Posted by Lauren Hidalgo on Fri, Dec 16, 2011 @ 09:06 AM

Medicare SupplementsThe whirlwind of the Annual Enrollment Period ended December 7. As you catch your breath and prepare to enjoy the holiday season with your family and friends, you might find yourself wondering now what? Now is an ideal time to start planning for 2012 and there are many opportunities to take advantage of.

Unlike Medicare Advantage plans, Medicare Supplements can be sold at any point during the year to those who are age sixty-five or older (or those on Medicare disability).

Also the first quarter of 2012 is a great time to contact the new clients you signed up during AEP to see if there are any other products they would like to take advantage of such as:

By adding additional products to your portfolio you are helping to make your business well-rounded, increase your sales volume, and offer another way to market to your prospects and clients. Plus the more policies your clients have with you, the more likely they are to keep their business with you as their agent.

As we wind down 2011 be sure to take a good look at your portfolio and make sure you have the products you need to serve your clients. PSM will continue to bring you the newest in Medicare Supplements with low rates and excellent compensation to help you maintain growth in your business.


Please give us your feedback!
What are you doing in preparation for 2012? Do you have any tips for those agents just getting started in the senior market?

Additional Updates:
  • Forethought Med Supp Released in Arizona - Learn More
  • Forethought Med Supp Released in New Jersey - Learn More
  • Heartland National Life Rate Increase Notification - Learn More

Tags: Final Expense, Annuities, Medicare Supplement, Heartland National Medicare Supplement, Customer Service, Building Client Relationships, Short Term Care

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