Mutual of Omaha’s GUL price change announcement comes on the heels of the release of their new flagship protection product, Life Protection Advantage IUL. The new GUL pricing allows Mutual of Omaha to continue to offer lifetime guarantees with an unparalleled level of flexibility for clients willing to pay more for these features, while also making a more competitively-priced option available for clients who are comfortable with a life expectancy guarantee and appreciate real cash value. Read on for the details.
From Mutual of Omaha…
It’s important that we continually review our product portfolio and make decisions that are in the long-term best interest of our policyholders and our distribution partners.
Effective June 1, 2017, we will be updating our Guaranteed Universal Life (GUL) product pricing for new issue policies. These changes will help ensure the long-term viability of our inforce GUL portfolio and allow us to continue to deliver on the commitments we have made to our current policyholders.
Transition Rules:
- GUL applications signed on or after June 1, 2017 will receive the new pricing.
- To receive the old pricing, GUL applications need to be signed prior to June 1, 2017 and must be received in the Home Office no later than June 30, 2017.
