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Medicare Blog | Medicare News | Medicare Information

Introducing GTL's Heritage Plan - Graded Whole Life Insurance

Posted by www.psmbrokerage.com Admin on Sun, Apr 19, 2020 @ 01:34 PM

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Tags: Final Expense, Whole Life, GTL

Introducing Prosperity Life Final Expense Plans

Posted by www.psmbrokerage.com Admin on Thu, Apr 02, 2020 @ 12:44 PM

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Tags: Final Expense, phone sales, online sales, Prosperity Life

Get to know the New PlanRight from Foresters

Posted by www.psmbrokerage.com Admin on Thu, Dec 05, 2019 @ 02:32 PM

Effective date December 8, 2019
 
Foresters Financial Log on to ezbiz
Get to know the new PlanRight. Download the Product Guide.
Effective December 8, 2019, Foresters Financial™ is introducing a brand new PlanRight! It’s fast, flexible protection that’s been enhanced to help meet the needs of your clients.
 
    New Branded Plans  
 
 
•
  
Level, Graded, and Modified are now Preferred, Standard, and Basic
•
  
New minimum face amount of $5,000 on all plans
•
  
A death benefit amount, based on 100% of the face amount, from day one on our newly branded Standard plan
 
 
    Simplified Application and Shorter PHI  
 
 
•
  
Streamlined health questions improving application flow
•
  
Easier to qualify for Standard and Preferred plans
•
  
Shortened PHI providing instant medical eligibility over the phone. And now 5 minutes faster!
 
 
    New Riders & Competitive Rates  
 
 
•
  
Family Health Benefit Rider available on all plans
•
  
Accelerated Death Benefit Rider for Terminal Illness on select plans¹
•
  
Same rates on the Preferred Plan and lower rates for select non-tobacco users²
 
 
Watch for more info coming soon to your inbox! Be sure to get the PlanRight US General application below or log in to ezbiz to get state-specific applications and to order your new PlanRight materials.
 
Download the U.S. General Application
Be prepared. Call PSM today for more details
 
800-998-7715
 
Not appointed with Foresters? Click Here

Foresters products and their riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Refer to the applicable Foresters Product Guide and the insurance contract for your state for these terms and conditions. Products underwritten by The Independent Order of Foresters.

1 Family Health Benefit rider is available on all plans, while Accelerated Death Benefit rider for Terminal Illness is only available on Standard and Preferred Plans.

2 Reduced rates are applicable only to male non-tobacco users, ages 65-70 and female non-tobacco users, ages 64-70.

For Producer use only. Not for use with the public. 418212 US 12/19
 
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Tags: Final Expense, Whole Life, Foresters

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

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