When you write qualifying Medicare supplement policies with Mutual of Omaha, Mutual of Omaha rewards you with broker incentive programs. Below are a few of our incentive programs that rewards you for your hard work throughout the year, not just during AEP.
Mutual Sales Leaders (Qualification)-Your Medicare supplement and dental/vision sales during the year, including AEP, can help you qualify for the Mutual Sales Leaders trip. This is an organization that honors our top producers and rewards sales excellence. For more information on the upcoming Mutual Sales Leaders (MSL) trip, click here.
Broker Bonus– Once you have five issued underwritten Medicare supplement applications in a month, you will start earning cash. The 4th Quarter Broker Bonus program runs from October 1 through December 31, 2020. To learn more about the Broker Bonus Program, click here.
Marketing Credits-When you write a minimum of 5 issued Medicare supplement applications in a month or write a minimum of 2 issued Dental applications in month, you begin earning Marketing Credits. While there is no limit to how many credits you can earn, the credits do expire at the end of the year. You can use these credits to get reimbursed for building your business or redeem them for Mutual of Omaha branded promotional merchandise. For additional information on earning and redeeming Marketing Credits, click here.
You can also view information on these incentive trips by logging onto Sales Professional Access (SPA), under the Sales and Marketing tab, click Rewards. Here you will find information about each program, as well as where you can check your balances and standings.
Good news regarding Mutual's Dental Portfolio – with three years under their belt, they have a few exciting items to communicate.
Rate Reduction on Mutual Protection Plan Mutual is looking at their first rate change since they launched their Mutual Dental Preferred and Mutual Dental Protection products. These actions will improve their competitive position and ultimately provide a unique value to their Med supp policyholders. As follows:
10% decrease on our Protection Plan (DNT5)
Rate hold on our Preferred Plan (DNT2)
For any DNT5 policies written prior to 10/1 – the rate decreases will adjust (going forward) at the next premium renewal date, post 10/1 or future dates. These specific dates are indicated on the Dental Rate Reduction and Multi-Policy communications that have gone out in Broker Express.
But there is more!
Multi-policy Discount They are also pursuing a multi-policy discount when either of their dental policies is written with a Med supp policy. The discount is as follows:
15% discount on the dental premium when the dental application is signed between:
The Med supp application signed date, and
30 days after the Med supp issue date
Keep in mind, existing policyholders will receive the discount moving forward if they would have qualified at the original time of issue.
Mutual is filing the rate adjustments and multi-policy discount in all states where they have the dental product with a targeted implementation and effective date of October 1st 2020, implementation is dependent on state approval. Most states have approved their rate adjustments and multi-policy discounts. They are waiting on state response from a handful of states, still. However, we will continue communicating states’ reductions and discounts, as they approve and become effective.
Mutual of Omaha offers two dental plans* Mutual Dental Preferred and Mutual Dental Protection insurance policies with an optional vision care rider** underwritten by Mutual of Omaha Insurance Company. The dental product is available in all states except: New York, Virginia and Washington.
While this product is positioned for individuals who are Medicare eligible the issue age is 19 – 99 for these policies. For more information and to see rates view theDental Insurance Product and Rate Guide.
Medicare supplement and Dental Insurance – Better Together You have a built-in target market. If you are selling Medicare supplement, there are a number of reasons you should be offering your Medicare clients a dental policy.
First, good dental care is important to overall health. But do you know Medicare doesn’t cover dental services? That means dental bills have the potential to take a bite out of people’s savings.
Second, there is a need among individuals age 65 and older for dental insurance.
87% of this group still have their natural teeth
Due to cost, 1 in 5 of them has untreated tooth decay and fewer than half see a dentist even once a year
Only 12% have dental insurance
Third, it is an easy sale. If you are taking a Med supp e-App the dental plans are quoted up front and with a few simple questions at the end of the app you can complete a dental sale. Also, all Med supp paper apps have the dental application included in the application book. And with our mobile quote app you can provide your clients a quote on the spot.
Mutual of Omaha is proud to introduce their new logo
For more than a century, Mutual of Omaha has been committed to listening to their customers and helping them through life's transitions by providing an array of insurance and financial products.
Earlier in July, Mutual announced the retirement of the Native American symbol to support their strong commitment to diversity and inclusion. At this time, they are pleased to unveil the new corporate logo allowing them to progress towards the future with their customers and sales distributions.
Protection and strength are traits that represent who Mutual is as a company, and they're also characteristics of an animal that always protects its kingdom — the lion. The lion also further deepens our connection to the memorable Mutual of Omaha Wild Kingdom program, an important part of their heritage.
There is no better symbol to reflect their mission, values and loyalty to you and their customers.
So while our logo has evolved, we continue to be the same strong company you've come to know and trust.
Mutual of Omaha: Competitive Med Supp Rates and So Much More!
If you offer Medicare supplement to your clients in one of the states below take a look at these rates on our Plans G and N. Competitive rates coupled with a household discount provides your clients great savings on their monthly premiums.
Sample rates are age 67 (66 in Georgia), nontobacco-users, lowest ZIP area, with 12% household discount applied. Click on the state to view the outline of coverage.
Taking a Medicare supplement application for Mutual or its affiliates is fast, easy and convenient when you use our e-application. The e-application can be found on Sales Professional Access (SPA- www.mutualofomaha.com/broker) under the Electronic Applications tab.
When you use the Med Supp e-App, you’ll discover all its features and benefits. Here are a few of the highlights:
Underwriting rules are automatically applied
FDA database prescription drugs and dosages are listed if needed
Visual cues indicate your progress, missing information and clarifications
One signature covers all forms
Answers to simple questions reveal only the additional questions your client needs
Each client’s signature options appear (electronic or voice)
Real-time rate quotes and data updates
A Dashboard shows all your applications in progress
And best of all, the e-application is ready anytime you and your client are ready. And when you cannot meet face-to-face with your client, you can still do business via e-App and a phone call.
Finally, don’t forget, your clients receive some great added benefits when they purchase their Medicare supplement policy from us. These include:
Amplifon Hearing Health Care – Save on hearing tests and hearing aids.
EyeMed Vision Care – Get eye care and eyewear savings from a network that includes independent providers as well as the nation’s top optical retailers.
Mutually Well – the Mutually Well program gives your client more – more resources to help stay healthy, stay fit, and keep more money in their pocket.
If you are looking to expand your Medicare supplement sales, take advantage of these competitive rates, the convenience of e-app and being able to offer your clients some great added benefits.
Stay in touch with your Mutual of Omaha Brokerage Health sales teams in 2020 through a series of Medicare Solutions monthly webinars.
Our June webinar – “How Value-Adds Enhance Med Supp Coverage”is now available to view. Take a few minutes to watch this informative presentation from Sales Director, Jason Weber, and learn about Mutual of Omaha’s Value-Add Programs.
You can enhance your clients Med supp coverage using our Value Adds, with Vision, Hearing, and Mutually Well programs.
The webinar is available on demand. You can watch it at your convenience, anytime. If you missed a webinar, you can access past webinars, including “How Value-Adds Enhance Med Supp Coverage”, on Sales Professional Access – select a state and click Product Education.
There is no sign in required to view the presentation.
Curious as to what’s ahead?
July – Why Med Supp Clients Need Cancer Insurance, Too
August – Customer Access: 24/7 Self-Service for Your Client