Important Product Update From Mutual Of Omaha

Important Product Update From Mutual Of Omaha

Effective March 1, 2017, Mutual of Omaha is suspending 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

The individual Guaranteed Universal Life product will remain available, as will its 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.

Transition Rules 

Please be assured that Mutual of Omaha will continue to underwrite any GUL Plus and GUL Survivor applications that are already in the home office and due to outstanding quotes or pending applications in process, Mutual of Omaha will continue to accept these applications, subject to the following:

  • 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.
  • 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.

Mutual of Omaha 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 Mutual of Omaha Home Office will retain access to the GUL Plus and GUL Survivor illustration software in order to process applications already submitted.

Please contact your Life Sales & Marketing Associate if you have any questions or would like more information.