New Applications Now Available for SPIA Contracts

We have newly updated SPIA applications. Please use these applications for SPIA contract submissions moving forward as they were effective April 1, 2023.
The new applications apply to the following products:

• Income Access
• Ultra-Income
• Income Annuity with Premium Return

You will find that we have made many improvements to aid you, your producers, and your clients, when using the new applications, including:

• We’ve incorporated consistent formatting in line with other annuity applications
• Additional beneficiary information has been added to the application to better assist with future claims handling, this includes a check box if it is identified as irrevocable
• New sections have been added to help identify if the policy will be an inherited IRA or inherited non-qualified annuity
• The Payee section has been expanded to allow for an additional payee that is other than the owner or annuitant of the annuity contract
• We’ve also expanded the options within the tax withholding section of the application
• A separate section was added with a check box to help identify if the client wants to apply for a rated age (Only available with Ultra Income)
• And, we’ve added an additional certification in the Producer Statement section

With these new features and options now included in the SPIA applications, you should begin using the new applications immediately as they were effective April 1, 2023. We will allow a 30-day ‘grace period’ for this transition. After April 30, 2023, the old applications will no longer be accepted, and the new applications must be used when submitting business.

Thank you for your continued business, partnership, and commitment to Mutual of Omaha. If you have any questions, please contact your Sales Director or Account Executive.