As we enter the month of November, we want to share the most up-to-date time service levels. Also, we are excited to announce that we have improved our New Business review time from 15 to now only 5 business days on submitted annuity applications!
Our current time service levels are listed below.
Please note, business days do not include weekends.
Current Annuity Service Levels as of November 7, 2022
- New Business Reviews
5 business days from receipt into our queue - Policy Issue
On average 3 business days, once all requirements and funds are received - Emails and Phone Calls Returned
48 hours - Pending and Follow-ups
3 weeks when requesting funds from carrier
(Funds from other carriers, dependent on the carrier sending to us, take an average of 4-6 weeks to send funds)
We have responded to the increased volume by expanding staff to the processing team. The newest staff has been training throughout October and continue to shorten handling time. If customers are concerned with the interest rate that they will receive based on longer than average processing times, rest assured that we have processes in place to ensure your customer is treated fairly. Please read our Rate Setting Procedure for more information on how the rates are set by United of Omaha.
Note: If the rate lock period is negatively impacted by delays in the initial review, we will extend the rate lock period as an exception. The length of the rate lock extension will be determined on a case-by-case basis, based on the specific circumstances of the case.
As a reminder, for new application submissions, email them to LifeApps@Mutualofomaha.com and for inquiries on submitted new business, you can email New.Bus.Annuity@mutualofomaha.com.
We appreciate your patience and understanding as we work diligently to get our additional teammates trained and return to our normal time service levels.
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