Underwriting Programs for Every Sales Situation
The three underwriting programs in Mutual of Omaha's Disability Income Choice at Work Portfolio give you the flexibility to provide income protection plans for a wide range of employee groups.
The chart below contains the highlights of the DI at Work underwriting program. For complete details, refer to the Agent and Underwriting Guide.
The Fully Underwritten program is voluntary and available to all eligible full-time employees working 30+ hours per week. The underwriting program allows the employee to customize coverage using one of the three associated disability products and optional riders. A fully underwritten application is required. The maximum benefit available is based on general underwriting guidelines used on individual cases.
Express Standard Issue
Express Standard Issue (ESI) is Mutual of Omaha's newest underwriting program. It is for voluntary participation for full-time eligible employees working 30+ hours per week that the employer deems eligible. The program is available for those employers who want to support an income protection program, but not bear the expense of the associated premiums. ESI can be used as a stand-alone program or a reflex option from Guaranteed Standard Issue if that program’s participation requirements have not been met. Only a total of seven underwriting questions are required.
Guaranteed Standard Issue
The Guaranteed Standard Issue (GSI) underwriting program is available to employers on both an employer-paid (mandatory) and employee-paid (voluntary) basis. GSI is designed to allow employers to select the employees who are eligible to receive the coverage as well as the benefit configurations and available riders. There is just one underwriting question to qualify.
- Employer-paid (mandatory participation): This program is provided by the employer to full-time employees of a predetermined group working 30+ hours per week
- Employee-paid (voluntary participation): This program is voluntary participation for full-time eligible employees working 30+ hours per week. The program is available for those employers who want to support an income protection program, but not bear the expense of the associated premiums
- If an employee wants to buy coverage outside of the limits of the Guaranteed Standard Issue the employee will complete the Fully Underwritten Issue application
- If an employee wants to buys coverage outside of the limits of the Express Standard Issue the employee will complete the Addendum Application
- Eligible new hires are allowed to purchase after completing six months of continuous, full-time employment. Dependent upon the selection of the employer, enrollment may be available during the 60 days following the six months of employment or during the annual enrollment period (ESI and GSI only)
- Eligible new hires going through full underwriting requires three months of service with no enrollment period
- If an employee is terminated or leaves the business, the coverage is completely portable with no change in premium and may be taken with them as they leave. When porting employer-paid cases, the employee can elect to be billed directly without any coverage change
Reminder: An added benefit to the employer is that Mutual of Omaha offers a business owner upgrade through our DI at Work products. That means the business owner may be eligible to be underwritten in a higher occupational class which results in premium savings.