United of Omaha- Changes to their UL Life Portfolio

News Image 02-08-2017

Mutual of Omaha is committed to providing insurance solutions to help you protect your customers and prepare them for the future. As Omaha continues to review their product portfolio, they must make business decisions that are in the best interest of their policyholders and their company.

Effective March 1, 2017, they are suspending sales of the following products:

*Guaranteed Universal Life Plus — designed for larger first-year premium dump-ins
*Guaranteed Universal Life Survivor — designed for second-to-die, survivorship sales

Their individual Guaranteed Universal Life product will remain available, which is where they receive the majority of their fully-guaranteed life insurance business. This product will continue to provide your customers significant value with flexible features such as the Guaranteed Refund Option Rider and Accelerated Death Benefit Rider for Terminal and Chronic illness, all included at no additional cost.

Omaha also offers many additional product solutions to help you fulfill your clients’ life insurance needs, including their Income Advantage IUL, AccumUL Plus and Answers, Term Life Answers, Whole Life Guaranteed, Children’s Whole Life, and their Express Term, Whole Life, and GUL products.

Transition Rules

GUL Plus and GUL Survivor applications must be signed on or before February 28, 2017, and received in the Home Office no later than March 17, 2017.

Any applications signed after February 28, 2017 (regardless of date received) or applications received after March 17, 2017 (regardless of signed date) will not be accepted. Unfortunately, we will not make any exceptions to these dates.

Software Updates
Winflex will be updated beginning March 1, 2017. Please update your software through the internet update or through Sales Professional Access.
The Home Office will have access to the GUL Plus and GUL Survivor illustration software in order to run illustrations for applications already submitted.

AgentSuite

Contact

BUA Sales
Phone: 800-792-6795