June 7, 2021
In efforts to support the Washington State Cares Fund initiative, Mutual of Omaha implemented underwriting and commission changes for applications received from the state of Washington, including:
- A 100% chargeback for policies issued May 19, 2021 – November 1, 2021, and lapsing within the first policy year.
- Declining applications for clients not seen by a physician in the last 24 months.
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However, due to continually increasing application volumes from the state, Mutual of Omaha must make additional modifications. Effective immediately, we are instituting the following adjustments to the MutualCare® Solutions product offerings for the state of Washington:
- Increasing minimum issue age to 40
- Increasing minimum monthly benefit to $3,000
- Increasing minimum inflation option to 3%, lifetime duration
To process applications not meeting the minimum requirements listed, paper and e-applications must be received at Mutual of Omaha on or before June 11, 2021. No exceptions will be made.
By taking steps to ensure Washington residents purchase a long-term care policy for the security and benefits it provides rather than a means for exemption from the payroll tax, Mutual of Omaha is upholding our responsibility as a leading LTCi provider.
How You Can Help
- Help clients understand the value of a long-term care policy designed to offer peace of mind for themselves and their families by explaining key product benefits.
- Speed up processing time by emailing completed applications directly to epsupport@LTCG.com, or faxing copies to (888) 539-4672.
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Contact a Pinnacle Representative if you have any questions.
1 (800) 772-6881
support@pfsinsurance.com
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