Three NEW Riders Available on United of Omaha's Simplified Issue Term

News Image 07-26-2016

United of Omaha's Term Life Express product offers simplified underwriting, competitive pricing, and attractive conversion privileges ... AND on August 1, 2016, the product will now also include no-cost Living Benefit Riders (only on the Term Life Express non-ROP policies).

The Living Benefit package will include three Accelerated Death Benefit Riders at no additional cost to the customer.
• Chronic Illness - Unable to perform 2 of 6 ADL’s for consecutive 90 days
• Terminal Illness - Life expectancy is 12 months or less
• Critical Illness - Diagnosed with life threatening health condition
*These riders may vary by state, for complete descriptions please ask your BUA Brokerage Sales Consultant to provide the state specific highlight sheet


Here’s What You Need to Know:
• Sales effective date: August 1, 2016
• Available in all states, except New York and California (pending approval)
• Available on Term Life Express non-ROP policies only
• No-cost riders, no additional underwriting required
• The new Accelerated Death Benefit Rider for Terminal Illness will replace the existing Accelerated Death Benefit Rider for Terminal Illness on all TLE non-ROP products

What about Term Life Express ROP policies:

The TLE ROP policies will remain unchanged and will continue to receive the existing Accelerated Death Benefit for Terminal Illness Rider. The new disclosure form will be required for all applications, including TLE ROP.

Transition Rules:

For applications signed prior to August 1, 2016:
• The old ABR will apply to the policy.
• On request, any application signed prior to August 1, but pending in underwriting after August 1 may update to the new ABR, however the policy effective date must be August 1 or later. Transition rules for applications signed between August 1 and August 31 will be followed.

For apps signed between August 1, 2016 and August 31, 2016:
◦ A new ABR disclosure form 49500 (or state equivalent) must be signed and submitted with all TLE and GULE apps. All qualifying policies will automatically be issued with the Living Benefit Riders.
◦ Old ABR forms received during this time will be accepted, and a letter of explanation along with the new ABR disclosure form will be included with the policy. Compensation will not be held and the new ABR form will not be required to be returned to the home office.

For apps signed September 1 and later:
◦ The new ABR disclosure form must be signed and submitted with the application.
◦ If the old ABR form is received by the carrier, compensation will be held and the new ABR disclosure form will be required to be returned to the home office as a standard delivery requirement.


For questions or more information, please contact us at 1-800-792-6795.

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BUA Life Sales
Phone: 1.800.792.6795