Founded in 1909, Fortune 500 Company, Mutual of Omaha Life Insurance is privately owned and offers extensive services. This company, with its subsidiaries, provides a wide selection of banking, financial solutions, and insurance products to individuals and businesses nationwide.
United of Omaha Life Insurance Company, one of those subsidiaries, provides numerous specially designed and affordable insurance plans to those seeking life insurance products. Let’s evaluate and compare the company’s available insurance plans, along with their important features.
Why Choose Mutual of Omaha Whole Life Insurance?
Mutual of Omaha Life Insurance Company, also known as United of Omaha Life Insurance Company, provides you with whole life insurance created to help cover the costs of final expenses, plus more. Living Promise, Mutual of Omaha’s Final Expense policy, can offer affordable protection that pays the beneficiary directly so that they are able to cover any of your outstanding medical expenses, unforeseen expenses, or any debt you leave behind. Ensuring that you have a whole life insurance policy in place in the event of your death is one of the most loving and considerate actions you can take now on behalf of your loved ones.
Mutual of Omaha Final Expense Insurance with Level Benefits
The Living Promise Level Benefit plan is the option for individuals between the ages 45-85. This plan provides the policyholder with between $2,000-$40,000 in benefits.
Additional features that can be added to the policy free of charge include the option of including the Accidental Death Benefit Rider, the Nursing Home Confinement Rider, and the Accelerated Death Benefit for Terminal Illness Rider.
Our Final Expense Insurance Calculator is useful for comparing final expense rates with top-rated life insurance carriers, such as Mutual of Omaha Life Insurance.
Mutual of Omaha Final Expense Insurance Graded Benefit Plan
The Living Promise Graded Benefit plan is the policy option available to those between the ages of 45 and 80. This policy provides the policyholder with a minimum coverage of $2,000 to a maximum coverage of $20,000.
The following benefits and exclusions are included in the Living Promise Graded Benefit plan:
- In the event that the policyholder should die of natural causes within the first 2 years of signing the policy, the named beneficiary will be eligible to receive all premiums paid in by the policyholder, plus an additional 10% increment on the total amount.
- Once 2 years have been fulfilled, the full benefits will be paid in the event of death, for any cause, accidental or natural.
Key Features and Benefits
- Policy cannot be canceled provided premiums are paid regularly
- No medical examination required
- Premium rate and insurance coverage amount are fixed
- Insurance benefits are paid directly to named beneficiary
Why Choose United of Omaha Whole Life Insurance?
Whole life insurance, oftentimes called permanent or straight life insurance, provides lifetime coverage and is one of the oldest forms of life insurance. Whole life insurance provides guaranteed cash value, a guaranteed death benefit, and guaranteed interest to ensure that the policy remains active throughout the insured’s lifetime. Furthermore, the accumulated cash value within the policy is available to cover past due premium payments or in case of emergencies.
Other types of whole life insurance offer a feature known as Reduced Paid-up insurance, which allows you to purchase a policy of lesser value paid up for life without having to pay any additional premiums. Be sure to speak with one of our insurance specialists so that you can find the appropriate plan for you.