Term Life Express / Complete ROP Changes

Due to new regulations effective January 1, 2010 United of Omaha's Term Life Complete (TLC) and Term Life Express (TLE) Return of Premium (ROP) products must be updated.

TLC/TLE 2010 ROP (Short and Long Guarantee) Products Transition Rules

• TLC/TLE ROP Short Guarantee:
  • Effective January 1, 2010 the 20T/5 year guarantee & 30T/5year guarantee ROP products will no longer be available.
  • The 20T/5 year guarantee & 30T/5year guarantee ROP products will be turned off in Winflex on January 1, 2010.
    • Winflex may be accessed through Internet updating or SPA software downloads.
  • Application must be signed by December 31, 2009!
  • Applications must be received in the Home Office by January 15, 2010 (this should allow for sufficient mailing time).
    • Applications will be issued with an issue date no later than December 28, 2009.
  • The Underwriting process and approval may extend beyond December, in which case additional premium would need to be collected to place the coverage in force and paid to date. Due to regulatory reasons, no exceptions can be accommodated.
• TLC /TLE ROP Long Guarantee :
  • Effective January 1, 2010, long guarantee products with ROP will have higher cash values and higher rates (applies to 15T/15 year guarantee, 20T/20 year guarantee & 30T/30 year guarantee).
  • Winflex will illustrate the new rates for the 15T/15 year guarantee, 20T/20 year guarantee & 30T/30 year guarantee ROP products on January 1,2010.
    • Winflex may be accessed through Internet updating or SPA software downloads.
  • Applications for the 15T/15 year guarantee, 20T/20 year guarantee & 30T/30 year guarantee ROP signed January 1, 2010 and thereafter will be issued with the new rates.
  • The 15T/15 year guarantee, 20T/20 year guarantee & 30T/30 year guarantee ROP applications signed before January 1, 2010 will be issued with the old rates.