Effective Thursday, July 22, 2021, for the State of Washington ONLY, Mutual of Omaha is increasing the minimum face amount required on all IUL insurance policy applications that include the long-term care rider to $250,000.
This action is being taken to prevent individuals from applying for a life insurance policy with LTC to avoid the Washington State’s Long-Term Care Trust Act payroll tax deduction with no intention of keeping the policy in force. Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our product offerings are used as designed, offering lasting life insurance and LTC protection.
Income Advantage IUL
Life Protection IUL
Professional Advantage IUL
Applications signed before July 22, 2021, will be processed as applied for.
All pending in-house business will be processed as applied for.
Any applications signed July 22, 2021, or after with a face amount lower than $250,000 will be returned for a new application. No exceptions will be made.
With NFG Brokerage, you no longer need to depend on a one size fits all approach. We work hard for you to create customized insurance strategies to help you deliver the most affective solutions to your clients. Your success is our success...don't delay!
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