Founded in 1909, Mutual of Omaha is an insurance company that offers a variety of products. It also provides financial services such as mortgages and annuities.
Mutual of Omaha offers several life insurance policies, including term and whole life. They also provide a few add-on riders, like dependent children’s riders and guaranteed insurability benefits.
Rates
Rates vary depending on your age, health status, and the type of coverage you’re interested in. Unhealthy habits such as smoking and drinking can also increase your rates.
Mutual of Omaha offers a wide range of life insurance policies, including term, permanent, and no-exam life insurance. It also provides an accelerated death benefit rider that pays a portion of the policy’s death benefit if you’re diagnosed with a terminal illness.
Overall, it’s a solid choice for guaranteed issue life insurance. Its A+ financial strength rating from AM Best indicates it can take care of its contracts, like paying claims.
It also received a National Association of Insurance Commissioners (NAIC) complaint index score close to the expected number of complaints for a company with its size. Negative reviews about its customer service appear to be more frequent than positive ones.
Benefits
Whether you are looking for a term, permanent, or no-exam life policy, Mutual Of Omaha offers a variety of options. These include whole life, guaranteed issue, and simplified issue.
Term coverage is one of the most common types of insurance available, providing protection for a specific period and a guaranteed death benefit if you die during that time. Policies are based on age and health, and rates can vary significantly depending on the state you live in.
Universal life plans are also a popular choice, as they offer permanent coverage with accelerated death benefits and flexible premiums. Mutual of Omaha provides two indexed universal life products: Income Advantage and Life Protection Advantage. These policies allow policyholders to build a cash value account within the policy, which accumulates interest and can be used for tax-deferred savings.
Coverage options
Mutual of Omaha offers a range of coverage options. For example, their Guaranteed Whole Life policy doesn’t require a medical exam or health questions on the application, making it an ideal choice for Americans with pre-existing conditions or those who want to avoid the hassle of a traditional insurance process.
They also offer an indexed universal life product with a fixed-interest cash value component that protects against downside risk. However, this type of policy doesn’t have a built-in withdrawal feature, so you might need to pay out a portion of the cash value to access the death benefit early on.
Mutual of Omaha also offers several riders that can be added to life insurance policies. These riders can help cover various needs, from paying out a death benefit to helping pay for the cost of a nursing home or disability. Riders are a great way to add insurance to your policy without breaking the bank.
Customer service
Mutual of Omaha offers a wide range of insurance products to help you gain peace of mind. They offer life insurance, Medicare insurance, accidental death and dismemberment (AD&D) insurance, long-term care insurance, and more.
For life policies, Mutual of Omaha offers a variety of options, including whole and universal life insurance. They also offer several kinds of accidental death insurance and a children’s complete life policy.
One of its most popular policies is its income advantage IUL, which is available in most states and offers a higher cash value accumulation than some of its competitors. This policy also features guaranteed no-lapse death benefits.
If you are looking for a large, well-known company with a strong history of financial strength and stability, you should consider buying a life policy from Mutual of Omaha. They have an A+ (Superior) rating from AM Best and a AA- rating from Moody’s, which means they are financially sound.
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