You know the importance of getting life insurance to protect your loved ones and are now wondering if Mutual of Omaha is the best way to go. The short answer is Mutual of Omaha is definitely a great choice but the company you need will depend on your health and lifestyle needs. We can sit here all we want and tell you who to buy your insurance policy from but in all reality, it’s you that has to make the best decision for your future and the future of your family. Plus this company could be ideal for one type of person but maybe not for you, but don’t panic InsureChance works with more than 60 “A” rated companies with a wide selection of products that will best fit you and your lifestyle. In this article, we will be focusing on the products and policies of the company because not all of you will understand what these products and policies are so we made sure to add pointers and definitions. Here are some quick pointers that we will be talking about in the article:
- They were rated A+ “excellent” by A.M Better, and have been around selling life insurance since 1926. They are also rated A+ by the Better Business Bureau Accreditation.
- Remember that it is very important to shop around because maybe this one seems to be the right fit but not the right products for you, or vice versa.
- Omaha’s line of products are; Annuities, Critical illness and disability insurance, Long term care insurance, and Medicare supplement plans.
- Mutual of Omaha offers two types of basic life insurance which are term and permanent.
- Mutual of Omaha offers two type of Permanent life insurance; whole life insurance and universal life insurance.
- Whole Life policies are; Whole-Direct Guaranteed, Whole Life Guaranteed, and Whole Life Express.
- Term Life policies are; Term Life Answers and Term Life Direct
- Universal Life policies are; Guaranteed Universal Life, Income Advantage, and AccumUL Plus; AccumUL Answers
- In 1958 Mutual of Omaha passed the $1 billion mark in benefits paid by policy owners.
- Today Mutual has 3.5 million customers and a $2.7 billion surplus with total assets of $35 million.
Mutual of Omaha Rating and Review
As you read above, Mutual of Omaha life has a lot of history but that is what makes them so stable. Remember that it is very important to shop around because maybe this one seems to be the right fit but not the right products for you. Or vice versa, if there’s a company out there that has a wide selection of products but maybe they have founded 5 or 10 years ago and they just got on their feet. You may not want that company anymore when you hear that stability is one of the most crucial things you have to look at when choosing a life insurance company. I say that because, If you pay into this company and in 10 years they go bankrupt there goes your policy and all of the money you invested. Don’t let them take you as a fool, and shop around. However Mutual of Omaha Life isn’t that company. They were rated A+ “excellent” by A.M Better, and have been around selling life insurance since 1926.
They are also rated A+ by the Better Business Bureau Accreditation. Same with Standard and Poor’s rates which were also A+. A pro is that they have a vast variety of products and a con is that United Of Omaha Life is one of many other A+ companies.
Here at InsureChance we work with over 60 A rated companies and can help you find the best one for your health and lifestyle. We will make getting life insurance as simple as possible for you. Give us a call, we’re here to help: 888-492-1967Mutual of Omaha offers two types of basic life insurance; Term life insurance, and Permanent Life Insurance. Term life insurance provides affordable coverage for a specific period of time. The payments don’t change for the guaranteed premium period since it’s not for long term. On the other hand, Permanent life insurance provides protection that can last a lifetime or the entire life of the policy, it can even build cash value that can be used even when you’re alive. Mutual of Omaha offers two type of Permanent life insurance; whole life insurance and universal life insurance.
| Mutual of Ohama Life Insurance Product Line |
|---|
| -Annuities -Critical illness and disability insurance -Long term care insurance -Medicare supplement plans. |
| Term Life | Insurance Policies |
|---|---|
| Term Life Answers | Term Life Direct |
| -Cost effective term life protection and very straightforward. -Can convert to a permanent plan. -Death benefit amounts from $100,000 and up. -Eligible ages are 18-80. -10, 15, 20, and 30- year terms are available. | -Easy simplified application. -Eligible for ages 30-74. -Term to age 80. -Cannot convert to a permanent plan. -No medical exam required and only a few health questions. |
What is whole life insurance?
This life insurance policy earns credit as your premiums are paid. Every month, various deductions, such as a charge for insurance protection, are then made from the account value. You can also take loans or make withdrawals from the account value for anything you may need it for.
| Whole Life | Insurance | Policies |
|---|---|---|
| Whole Direct Guaranteed | Whole Life Guaranteed | Whole Life Express |
| -Guaranteed acceptance for ages 45-85. -No medical exam or health questions. -Can help cover final expenses. Premiums never increase regardless of age or health. -Death benefit amounts from $3,000-$25,000. | -Guaranteed coverage for the insured’s lifetime or the life of the policy. Only if the premiums are being paid. -Guaranteed issue and simplified application. -Can help cover final expenses. -Eligible ages are 45-85. -Death benefit amounts from $5,000-$20,000. | -Guaranteed coverage for insured’s lifetime or the life of the policy as long as premiums are being paid. -Simplified underwriting. -Can help cover final expenses. -Eligible ages are 18-85. -Death benefit amounts are from $20,000-$50,000 or for ages 26-44 $5,000-$50,000. |
What is universal life insurance?
This type of policy provides a set amount of coverage for your entire life. As long as you pay your premiums your beneficiary will receive the benefit when after you pass away. This policy also accumulates cash value and can be possible to access the cash value as the funds grow.
| Universal Life | Insurance | Policies |
|---|---|---|
| Guaranteed Universal Life | Income Advantage | AccumUL Plus AccumUL Answers |
| -Has a fixed premium. -Guaranteed 2% interest rate. -Eligible ages 18-85. -Helps you guarantee a death benefit. -Able to add features to policy. -Death benefit from $100,000-$1,000,000 and above | -Provides a death benefit. -Accumulates funds for later needs such as emergencies or retirement. -Flexible premium payments. -Eligible ages are 0-85. -Death benefit from $100,000 and above. | -Eligible ages are 0-85. -Accumulates funds for later use. -Flexible premium. -Death benefit amounts from $25,000-$1,000,000 and above. |
| Term Riders |
|---|
| -Guaranteed Universal Life Plus is for anyone 18-80 for all types of risks. Offers a 2% guaranteed interest rate with 50% interest rate bonus that starts the 10th policy year. -Guaranteed Universal Life Survivor has a fixed premium that insures both spouses and death benefits are paid upon the death of the surviving spouse. -Chronic illness rider which is for serious health problems that may not be necessarily terminal. The policy owner can access a portion of their death benefit in a lump sum to be able to cover some expenses. -Accelerated Death Benefit enables the policyholder who is terminally ill to receive cash advances against the death benefit and benefits can be used for any purpose the senior chooses such as home care or nursing home care. -Terminal Illness rider is insurance that pays out a capital sum if the policyholder is diagnosed with a terminal illness from which the policyholder is expected to die within 12 months of diagnosis. -Disability waiver of policy changes rider waives the policyholder’s obligation to pay any further premiums if the policy owner becomes seriously ill or disabled, this waiver allows people to benefit from the policy even though they cannot work. -Dependent Children’s rider is available for any unmarried, dependent children 15 days through 24 years who are not hospitalized on the date of application. |
I’m ready to buy life insurance, now what?
Fortunately, this is the easiest part of the whole process, why? Because you can contact our reliable and hardworking agents at 888-492-1967. InsureChance Inc. has a purpose in mind and that is to bring simplicity to buying life insurance. Leave it to our team to find you the most suitable coverage for you and your family members. We are an independent agency that specializes in high risk and we work with all of the carriers out there to be able to get you the best rate on the market! They will walk you through a hassle-free application and ease your worries to be able to spend as much time as you can with your loved ones.
Final Thoughts
If you have any questions about Mutual of Omaha, please contact one of our agents today. We would be happy to answer those questions and ensure that you’re getting the best plan to fit your needs. Don’t let anybody pressure you into a life insurance company with no stability, big mistake! Don’t waste any more time stressing about life insurance, time is money and the more time you waste stressing, the less time you will be able to spend and appreciate with your family. InsureChance also offers a lifetime guarantee of support if you need to make any changes to your policy or have any questions you can always contact us! We are an independent life insurance agency that works with all of the life insurance companies out there to get you the best product, at the best rate, at no extra cost to you! If you have any questions regarding anything discussed in this article feel free to call us at 888-492-1967.
