September Annuity Time Service Update
Mutual of Omaha thanks you for the business we have received, and continues to receive, due to your commitment and partnership! Our Annuity Team continues to receive an increased volume of applications and, in turn, is communicating delays in time service.
We are committed to keeping you updated on our service times. Our current time service levels are listed below. Please note, business days do not include weekends.
Current Annuity Service Levels:
- New Business Reviews: 15 business days from receipt into our queue
- Policy Issue: On average 3-5 business days, once all requirements and funds are received
- Emails and Phone Calls Returned: 48 – 72 hours
- Pending and Follow-ups: 3 weeks when requesting funds from carrier
- Fund 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 and will continue to make every effort to ensure your business is handled properly, and as quickly as possible. 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 normal time service levels.