August 28, 2013
Mutual of Omaha to Launch New LTC Portfolio, MutualCare® Solutions (LTC13)
Gender neutral rates will be eliminated on 9/16/13.
Female rates will increase by as much as 50%!
In order to take advantage of the current pricing structure, applications must be received in our office no later than noon PT on 9/20/13.
Mutual of Omaha announced the following:
Mutual of Omaha is excited to announce a new long-term care insurance portfolio, MutualCare® Solutions (LTC13). This portfolio will be able to support you and your LTCi sales and addresses the needs of the changing LTCi marketplace. Look for MutualCare® Solutions to have new pricing strategies and various packaging; which will continue to support this valuable product lines' longevity and remain a strong member in the long-term care industry. The two products, MutualCare® Secure Solution and MutualCare® Custom Solution, are valuable options for clients who worry about relying on their families for care, staying home as long as possible, or protecting their retirement nest egg.
Features with MutualCare® Solutions:
This product will not offer rate guarantees (built-in or via rider).
For the additional states that are still pending the approval of MutualCare® Solutions, the new revised underwriting guidelines outlined below will apply. These guidelines will be effective September 16, 2013. Please watch for these details to be coming soon.
Please review the rules and dates regarding the transition to MutualCare® Solutions in the states from the grid below:
Complete underwriting updates will be available in the new product and underwriting guide being released in September, but here are some of the basics:
Approved MutualCare® Solutions marketing materials will be available September 3, 2013.
Approval of consumer-approved prospecting and point-of-sale materials is still pending. Please check our website under the 'New You Can Use' section, located on the far right, for more details after September 3.
Submit your prospects' LTC applications today to ensure they qualify for the current pricing (especially females) and, if applying for United of Omaha, ensure they receive the 5 year built-in rate guarantee.