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Mutual of Omaha Contracting & Appointment 2019

Mutual of Omaha offers a complete portfolio of supplemental health products and a variety of life insurance products; and to address the concern about outliving retirement savings, a variety of annuity products may provide reliable income streams. 

Mutual of Omaha and its affiliated companies include Mutual of Omaha Insurance Company ~ Health; United of Omaha Life Insurance Company ~ Life and Annuity, Term, Medicare Supplement and Long-Term Care; United World Life Insurance Company ~ Medicare Supplement; Omaha Insurance Company ~ Medicare Supplement, and Companion Life Insurance Company ~ Life and Annuity (Only in the State of New York). 

These are Mutual of Omaha's current policies and state availability for 2019.

Accidental Death

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Issue ages 18 to 70, Guaranteed Advantage Accidental Death is guaranteed issue for all that apply. No health questions, medical exams or occupational restrictions.

Accidental Death Benefits: $50,000 to $500,000 (increments of $1,000). Spouse coverage is 100% of the Proposed Insured coverage and the child coverage is 20% of the Proposed Insured coverage. All accident coverage is 24-hour coverage. Common Carrier Benefit: provides an additional death benefit equal to the base accidental death benefit. Auto Pedestrian Benefit: pays an additional 25% of the accidental death benefit. Family coverage is available.  

Return of Premium Rider is only available for ages 18 to 50; if applying for family coverage, both Insureds must be age 50 and under at the time of application; availability may vary by state.

A spouse can’t be added to the policy after issue. Additional children can be added after issue as long as eligibility requirements are met. 

Annuities

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Issue ages 0 to 89; Two different deferred annuities: Ultra-Secure Plus and Bonus Flex.

Ultra-Secure Plus

Single premium deferred annuity with a fixed interest rate; and Five- and seven-year interest rate guarantee available. Highlights: Additional 0.15% added to interest rate on purchase payment and accumulation values over $50,000, Competitive renewal rates, and Return of premium feature.

Bonus Flexible Annuity

Flexible premium deferred annuity with a fixed interest rate; and Flexible contribution options. Highlights: Additional 1% interest rate in the first year, Additional 0.15% added to interest rate on accumulation values equal to or over $50,000, Systematic withdrawal options, variety of payout options, and Competitive payouts.

Issue ages vary; Four different income annuities: Income Annuity with Premium Return, Income Access, Ultra-Income, and Deferred Income Protector.

Income Annuity with Premium Return

Single premium immediate annuity, Life only or joint life income payouts, Payments must begin within 13 months following purchase date, and Return of premium upon death. Issue ages 59 to 85.

Income Access

Single premium immediate annuity, offers various optional features that provide additional income, and Payments must begin within 13 months following purchase date. Optional Features: (subject to state availability) 10% or 20% payment increase based on health condition, 3% inflation protection, 50% payment increase for nursing home confinement, and Survivor continuation option. Other features: Competitive payouts and Return of premium features. Issue ages 0 to 85.

Ultra-Income

Single premium immediate annuity, Multiple payout options, Payments must begin within 13 months following purchase date, and choice of payment frequency including monthly, quarterly, semiannually, or annually. Payout Options: Lifetime income, Lifetime income with period certain, Joint and survivor lifetime income, Joint and survivor lifetime income with period certain, Lifetime income with refund, Fixed amount, and Fixed period.

Optional Features: Age rating available and Up to 6% Cost-of-Living Allowance (COLA). Issue ages 0 to 85.

Deferred Income Protector

Flexible premium deferred income annuity which can provide a guaranteed income stream for life. Highlights: Guaranteed income for life, provides protection from outliving retirement assets, and Allows the client to allocate a portion of their assets into a Qualifying Longevity Annuity Contract (QLAC). Issue Ages: Nonqualified and QLAC contracts: 40 to 75; and Qualified contracts: 40 to 68. Eight Payout Options, may vary by state. Optional Features: Income payment advance ~ allows client the ability to receive 7 months of income in one lump sum, and 1-3% annual increase option. 

Critical Illness, Cancer, Heart Attack, Stroke

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Critical Advantage portfolio includes three options: Critical Illness, Cancer, and Heart Attack and Stroke.

Issue ages 18 to 64 or 18 to 54 (Term) Critical Illness; issue ages 18 to 89 Cancer and Heart Attack and Stroke. Coverage plans for an individual, single parent or family. Adult Coverage: $10,000 to $100,000, all plans. Coverage Options: Lifetime coverage, Term 10, 15, 20 or 30 years, all plans. Base Benefits: lump-sum payment all plans; and return of premium upon death on Critical Illness.

Covered Conditions for Critical Illness are 100%~Internal Cancer or Malignant Melanoma, Heart Attack, Stroke, Alzheimer’s disease, Major Organ Transplant, Blindness, Paralysis, Deafness, Kidney Failure; and 25%~Coronary Artery Bypass Surgery, Coronary Angioplasty.

Covered Conditions for Cancer are 100%~Carcinoma in Situ (CIS), Internal Cancer or Malignant Melanoma; for Heart Attack and Stroke: 100%~Heart Attack and Stroke Conditions; and 25%~Coronary Artery Bypass Surgery, Coronary Angioplasty.

Optional Riders: Intensive Care Unit and Cash Value, all plans; Heart Attack and Stroke Rider on Cancer plan, and Cancer Rider on Heart Attack and Stroke plan.

General Underwriting Guidelines: Express and Simplified. Features and riders may not be available with all policies or approved in all states.

Upon diagnosis of a covered condition, a check is sent to the policyholder.

Dental

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Issue ages 19 to 99; guaranteed issue, community rated and guaranteed renewable.

Two competitively priced dental coverage options: Mutual Dental Preferred and Mutual Dental Protection; a Vision Benefit Rider is optional to enhance either plan. The Vision Benefit provides a reimbursement benefit that pays: up to $50 every calendar year for one eye exam (no waiting period) and up to $150 every two calendar years for eyeglasses or contact lenses (after a six-month waiting period).

Calendar Year Deductible: $0 for preventive services and $50 for the basic and major services under the Preferred; and $100 for all services combined under the Protection plan.

Preventive, basic and major services include cleanings, x-rays, fillings, extractions, emergency treatment, crowns, dentures, bridges, root canals, periodontics and oral surgery benefits.

Calendar Year Benefit: $1,500 and $1,000 for Mutual Dental Preferred and Mutual Dental Protection, respectively; and the lifetime maximum amount for dental implants: $3,000 under the Preferred; and $2,000 under the Protection plan.

Provider Network is a national network of about 375,000 dental providers, or a dentist can be nominated to the DenteMax Plus network. Using an out-of-network provider is an option; using an in-network provider is less costly.

Mobile quote app can be downloaded for fast and convenient rates; search “Quotes for Sales Professionals” from Google Play or the App Store.  

Disability Income

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Issue ages 18 to 61 Accident Only Disability, Short-Term Disability and Long-Term Disability plans; issue ages 20 to 59.

Accident Only Disability

Guaranteed renewable to age 67. Maximum Monthly Benefit: $5,000. Elimination Period (calendar days): 0, 7, 14, 30, 60 or 90 days. Benefit Period: 3, 6, 12 or 24 months. Base Benefits: Total/Partial Disability, Presumptive Total Disability, Survivor, Waiver of Premium, Recurrent Disability and Worker’s Compensation Rider. Optional Benefits: Accident Hospital Confinement and Accident Medical Expense. Underwriting Available: Simplified.

Short-Term Disability

Guaranteed renewable to age 67; conditionally renewable to age 75. Maximum Monthly Benefit: $5,000. Elimination Period (calendar days): 0/7, 7, 0/14, 14, 30, 60 or 90 days. Benefit Period: 3, 6, 12 or 24 months. Base Benefits: Total/Partial Disability, Presumptive Total Disability, Transplant Donor, Terminal Illness, Survivor, Rehabilitation, Waiver of Premium, Recurrent Disability and Worker’s Compensation Rider. Optional Benefits: Hospital Confinement, Critical Illness, Return of Premium and Accident Medical Expense. Underwriting Available: Simplified, up to $3,000 monthly benefit; and Full Underwriting. 

Long-Term Disability

Guaranteed renewable to age 67; conditionally renewable to age 75. Maximum Monthly Benefit: $12,000. Elimination Period (calendar days): 60, 90, 180 or 365 days. Benefit Period 2, 5, 10 years or to age 67. Base Benefits: Total Disability, Proportionate Disability, Presumptive Total Disability, Transplant Donor, Terminal Illness, Survivor, Rehabilitation, Waiver of Premium and Recurrent Disability. Optional Benefits: Hospital Confinement, Critical Illness, Return of Premium, Social Insurance Supplement, Extended Own Occupation, Future Insurability Option, Extended Proportionate Disability, Cost-of-Living Adjustment and Accident Medical Expense. Underwriting Available: Full Underwriting.

Business Overhead Expense

Guaranteed renewable to age 65. Maximum Monthly Benefit: $20,000. Elimination Period (calendar days) 30, 60, 90, 180 or 365 days. Benefit Period: 12 or 18 months. Underwriting Available: Simplified, up to $3,000 monthly benefit; and Full Underwriting.

Elimination and/or benefit period may vary by state. Features and riders may not be available with all policies or approved in all states. BOE product not available in all states. 

Medicare Advantage Prescription Drug (MAPD)

Ohio - Cincinnati/Butler, Clermont, Hamilton, Warren
Kentucky - Cincinnati/Boone, Campbell, Kenton
Texas - San Antonio/Bexar

Mutual of Omaha offers Medicare Advantage health plans in cooperation with Lumeris Inc., a St. Louis company that arranges health provider networks and manages health plans. Whereas Mutual owns the plans under Mutual Medicare Advantage name and provides brand, marketing, distribution expertise and capital. Mutual of Omaha Medicare Advantage currently offers HMO plans that come with added benefits, including fitness programs, dental, vision, hearing aid benefit, OTC and transportation and convenient mail-order pharmacy services.

Medicare Supplement

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Select from Plan A, B, C, D, F, HDF, G or N, may vary by state. Medicare Select are available in a few states.

Plans are available pre-65 due to disability in some states.  

Household discounts up to 12%, where available.

Medicare state plans where available

Current administrative practice is not to adjust rates for 12 months from the effective date of coverage; no waiting period for pre-existing conditions and benefits are paid from the time the policy is in force. A household discount is available in most states.

Complete the e-App in person or on the phone. Signature methods are electronic, voice and wet; available on underwritten, guarantee issue and open enrollment types of business.  

Long-Term Care

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Issue ages 30 to 79; Tax Qualified Only, and Partnership Qualified.

MutualCare Secure Solution is a good fit for customers looking for easy-to-understand benefit choices; and MutualCare Custom Solution is a good fit for customers wanting to customize a policy.

Built-In Benefits for MutualCare Secure Solution ~ Policy Limit: Benefit multiplier determines policy limit, Options include 24, 36, 48, or 60 months. Maximum Monthly Benefit: $1,500 to $10,000 per month in $1 increments. Elimination Period: 90, 180 or 365 calendar days. Cash Benefit: 30% of home health care benefit up to initial maximum of $2,400 per month. Nursing Home Benefit: 100%. Assisted Living Facility Benefit: 50%, 75% or 100% of maximum monthly benefit. Home Health Care Benefit: 50%, 75% or 100% of maximum monthly benefit. Adult Day Care Benefit: Up to 100% of the monthly home health care benefit. Stay-at-Home Benefits include Caregiver Training, Durable Medical Equipment, Home Modification and Medicare Alert System: Up to two times the maximum monthly benefit. Bed Reservation Benefit for Nursing Home and Assisted Living Facility: 30 days per calendar year. Respite Care Benefit: 1 month per calendar year. Hospice Care Benefit: Pays maximum monthly benefit; no elimination period applies. International Benefit: Maximum monthly benefit for up to 12 months. Waiver of Premium include Nursing Home, Assisted Living Facility and Home Health Care; and subject to eligibility requirements. Alternate Care Benefit: Available when care coordination is used. Optional Partner Benefits: Shared Care and Security Benefit. Other Optional Benefits: Waiver of Elimination Period for Home Health Care, Nonforfeiture, ROP at death. Inflation Protection Options: Lifetime: 3%, 4% or 5% compound or 20-Year: 3% or 5% compound.

Built-In Benefits for MutualCare Custom Solution ~ Policy Limit: Pool of dollars determines policy limit, Options include $50,000 to $500,000 in $500 increments. Maximum Monthly Benefit: $1,500 to $10,000 per month in $50 increments. Elimination Period: 0, 30, 60, 90, 180 or 365 calendar days. Cash Benefit: 40% of home health care benefit up to initial maximum of $2,400 per month. Nursing Home Benefit: 100%. Assisted Living Facility Benefit: 50%, 75% or 100% of maximum monthly benefit. Home Health Care Benefit: 50%, 75% or 100% of maximum monthly benefit. Adult Day Care Benefit: Up to 100% of the monthly home health care benefit. Stay-at-Home Benefits include Caregiver Training, Durable Medical Equipment, Home Modification and Medicare Alert System: Up to two times the maximum monthly benefit. Bed Reservation Benefit for Nursing Home and Assisted Living Facility: 30 days per calendar year. Respite Care Benefit: 1 month per calendar year. Hospice Care Benefit: Pays maximum monthly benefit; no elimination period applies. International Benefit: Maximum monthly benefit for up to 12 months. Waiver of Premium include Nursing Home, Assisted Living Facility and Home Health Care; and subject to eligibility requirements. Alternate Care Benefit: Available when care coordination is used. Optional Partner Benefits: Shared Care, Security Benefit, Joint Waiver of Premium and Survivorship Benefit. Other Optional Benefits: Waiver of Elimination Period for Home Health Care, Nonforfeiture, Return of Premium at Death, and Professional Home Health Care. Inflation Protection Options: Inflation Percentage: 1% to 5% compound in .25% increments; and Inflation Duration: Lifetime, 20, 15 or 10 Years. Inflation Protection Buy-Up Option: Available.

PDP Prescription Drug Plan

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Mutual of Omaha offers two stand-alone Medicare Prescription Drug Plans (PDPs) in 49 states plus D.C.; plan names are Mutual of Omaha Rx Value (PDP) and Mutual of Omaha Rx Plus (PDP). Between the two plans there’s a monthly premium as low as $24.82. Premiums and deductibles may vary by CMS region. The Rx Value plan has an annual deductible on tiers 3-5; the Rx Plus plan has an annual deductible on all tiers; plans include 30-day supply at preferred pharmacies and 90-day supply with home delivery. The Rx Plus plan has a broad prescription drug coverage; Rx Value plan has a tighter formulary, may vary by plan by region. 

Term Life

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Term Life Answers and Term Life Express offer 10-, 15-, 20- and 30-year term options.

Term Life Answers

Issue ages range 18-80 (Age last birthday) based on tobacco or non-tobacco category and term option.

10, 15, 20, and 30 year terms available

Face amounts: $100,000 to $1,000,000 and above.

Underwriting classes: Preferred Plus NT, Preferred NT, Preferred T, Standard Plus NT, Standard NT, Standard T, Substandard NT and Substandard T.

Riders: Accelerated Death Benefit for Terminal Illness and Waiver of Premium for Unemployment Riders are included in the policy; Accidental Death Benefit, Dependent Children’s, Other Insured, and Disability Waiver of Premium Riders are optional; some restrictions may apply.

Conversions and Renewal of Premiums without evidence of insurability are features of the term plans.

Term Life Express

Issue ages range from 18 to 65 (Age last birthday) based on Non-ROP and ROP option. Maximum issue ages may vary by state and tobacco usage. Face amounts: $25,000 to $300,000 (18 to 50), $25,000 to $250,000 (51 to 65); underwriting classes: Standard NT and Standard T.  

Riders: Living Benefit (Terminal, Chronic and Critical Illness), Accelerated Death Benefit (Terminal Illness), Residential Damage Waiver of Premium, Waiver of Premium for Unemployment and Common Carrier Death Benefit Provision Riders are included in the policy; Accidental Death Benefit, Dependent Children’s, Disability Income and Disability Waiver of Premium Riders are optional; some restrictions may apply.

Conversions and Renewal of Premiums without evidence of insurability are features of the term plans.

Universal Life

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Guaranteed UL

Issue ages 18 to 80 (all risks); age 81 to 85 Standard NT and Standard T risks only for $100,000+; age 66 to 85 Standard NT and Standard T risks only for $50,000 to $99,999.

Face amounts: $100,000 to $249,999, $250,000 to $499,999, $500,000 to $999,999 and $1,000,000 plus. (First Year Premium over $2,000,000 requires home office approvals.) Face amounts under $100,000; Table 4 is the only substandard option available.

Underwriting classes: Preferred Plus NT, Preferred NT, Preferred T, Standard Plus NT, Standard NT, Standard T, Substandard NT and Substandard T. Tables rates: Tables 1 (A) to 16 (P). Surrender charges the first 19 policy years; Expense loads include monthly deductions and premium charges.

Riders: Guaranteed Refund Option, Accelerated Death Benefit for Terminal and Chronic Illness, Waiver of Surrender Charges for Partial Withdrawals Riders are included in the policy; Guaranteed Insurability, Accidental Death Benefit, Disability Continuation of Planned Premium, Disability Waiver of Policy Charges, and Dependent Children’s Riders are optional. Some restrictions may apply.

Competitive level premiums for lifetime and dial down guarantees for age 80 to 120; offers ‘dial-a-guarantee’ option and the ability to ‘catch-up’ missed premium payments are features.

Guaranteed UL Express

Issue ages 18 to 65. Face amounts: $25,000 to $300,000 (18 to 50); $25,000 to $250,000 (51 to 66); underwriting classes: Standard NT and Standard T. Surrender charges the first 19 policy years; Expense loads include monthly deductions and premium charges.

Riders: Accelerated Death Benefit for Terminal and Chronic Illness, Waiver of Surrender Charges for Partial Withdrawals, Guaranteed Insurability Riders are included in the policy; Accidental Death Benefit, Disability Continuation of Planned Premium, Disability Waiver of Policy Charges, and Dependent Children’s Riders are optional. Some restrictions may apply.

Simplified underwriting, quick issue process, ability to ‘catch-up’ missed premium payments, offers ‘dial-a-guarantee’ option and .50% interest rate bonus beginning 10th policy year are features. 

Whole Life

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Living Promise Whole Life

Issue ages 45 to 85 (Age last birthday). Face amounts $2,000 to $40,000; underwriting classes: Standard NT and T.

Riders: Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider is included in the policy; Accidental Death Benefit Rider is optional.

Policy is guaranteed to age 100 as long as premium is paid. Other features are simplified underwriting, small face amounts, level death benefit ~ no death benefit reductions in the early years, and iGo e-App is available. Plan may vary by state.

Graded Benefit: issue ages 45 to 80 (Age last birthday). Face amounts $2,000 to $20,000; underwriting class: Standard (no tobacco distinction); underwriting requirements: MIB, pharmaceutical check, and random phone interviews.

Death Benefit: for death due to natural causes (any cause other than accidental) during the first two years, all premiums are paid plus 10 percent. After two years, the full benefit is paid for death due to all causes. Full death benefits are paid, in all years, if death results from an accidental bodily injury. Plan may vary by state.

Riders: Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider is included in the policy; Accidental Death Benefit Rider is optional.

Children’s Whole Life: issue ages 14 days to 17 years (Age last birthday). Face amounts $5,000 to $30,000; underwriting class: Standard. Policy matures at age 100, no medical examination required, rates never increase with age, benefits never decrease, and cash value builds over time.

Guaranteed Insurability Provision: while the policy is in force, the option of purchasing an additional whole life policy at several life events, without evidence of insurability. The life events are on the policy anniversary dates following the insured’s 25th, 30th, 35th and 40th birthdays; marriage, birth or adoption of a child and a home purchase. This option can be exercised up to 5 times. Plan may vary by state.   

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