About United of Omaha Life Insurance Company
Mutual of Omaha Plaza
Omaha, Nebraska 68175
Phone: (402) 342-7600
Company Website: http://www.mutualofomaha.com
United of Omaha Life Insurance Company offers a diversified portfolio of life insurance, fixed annuities, and other insurance and financial services products through Mutual of Omaha’s agency sales force, group sales offices and independent agent networks.With roots dating back to 1909, United of Omaha Life Insurance Company, as part of the Mutual of Omaha Life Insurance Company, provides life insurance and annuity products across the United States, except in New York where another subsidiary company, Companion Life Insurance Company of New York operates.
Financial Strength Ratings for United of OmahaWhen you are considering a life insurance product and a company to underwrite it, it’s important that you know in advance that the company you choose has the financial ratings that will demonstrate the company’s ability to keep its promise for decades. Certainly, every policyholder wants to be confident that their insurance company will step up and pay the claim when the worst thing happens.Here are the financial strength ratings for United of Omaha:
|Rating Company||United of Omaha Rating|
|A.M. Best||A+ (Superior)|
|Moody’s Investors Service||A1 (Good)|
|Standard & Poor’s||AA- (Strong)|
To learn more about financial strength ratings click here
United of Omaha Life Insurance Products
Like other highly-rated life insurers, United of Omaha offers a comprehensive portfolio of insurance products to accommodate the needs and circumstances of its customers.
Term Life Express
Term Life Express is available in terms of 10, 15, 20, 30-year policies and is available to applicants age 18 to 65. The death benefit ranges from $25,000 to $300,000 and the Return of Premium rider is available for an additional premium.
Term Life Express is issued based on simplified underwriting and is especially suited for applicants who want to get a policy issued sooner rather than later.
Available rate classes for Term Life Express are Standard and Standard Tobacco.
Term Life Answers
The Term Answers policy is for applicants who prefer a higher death benefit and the ability to receive a Preferred or Preferred Plus rating for the lowest rates possible.
Policy terms available are 10, 20, and 30-years and eligible issue ages are 40 to 60 years old. Available death benefits are $250,000 to $1 million.
Here are actual rates for a $500,000 20-year policy for a very healthy male and female non-smoker.
|Age of Applicant||Male Non-Smoker||Female Non-Smoker|
Universal Life Insurance from United of Omaha
Universal life insurance can be the perfect solution for individuals who want a guaranteed death benefit for a lifetime and want to accumulate cash value in the policy along the way.
You are already paying for life insurance you need to protect surviving loved ones, why not build an asset at the same time? United of Omaha has four universal life products that can provide the solutions you need.
Guaranteed Universal Life
The Guaranteed UL product focuses on the death benefit than accumulating cash value. When compared to whole life insurance rates, the Guaranteed UL is a consistent money-saver for the policyholder.
The flexible premiums and death benefit allow the policyholder to make changes when life events happen and require you to reconsider your coverage.
Probably one of the more significant benefits to using guaranteed universal life insurance is that the monthly premiums are about half of what you would pay for whole life insurance.
The Accum UL policy works in the reverse of the guaranteed UL policy. Accum UL is focused on accumulating cash for the policyholder because there is a declared interest rate earned based on the company’s investment performance and a guarantee that your policy will earn a minimum of 2% annually.
While your policy is earning interest on the cash value, you are creating an asset that you can tap into when you need an additional income source in the future.
Life Protection Advantage (Indexed Universal Life)
The Protection Advantage product is like the Accum UL on steroids. The cash account in this policy is linked to various indices so that the cash account can earn significant interest based on the performance of the stock market.
A key factor of indexed universal life insurance is that although you will share in stock market gains, you will not share in any losses because your policy contains a FLOOR than is either zero or even higher.
The policy also contains an Accelerated Death Benefit provision which allows the policyholder to access a portion of the death benefit in the event they are diagnosed with a certain terminal or chronic illnesses.
Finally, when the time comes to access your cash account, you can do so tax-free if you withdraw your cash as a loan which is not considered income by the IRS.
Income Advantage (Indexed Universal Life Insurance)
United of Omaha’s Income Advantage product was designed for individuals that want to use life insurance as a means to accumulate wealth for retirement.
This product offers very competitive CAP and FLOOR rates for the policyholder which allows it to accumulate significant income that can be tapped as a tax-free income stream during retirement years.
Unlike traditional retirement products like the 401(k) or IRA, policyholders are not constrained by annual contribution limits, early withdrawal penalties, or required minimum distributions.
The Income Advantage indexed universal life policy is focused on wealth accumulation but still provides a guaranteed death benefit for your surviving loved ones.
United of Omaha’s Guaranteed Whole Life Insurance
A guaranteed whole life insurance policy remains the simplest way to relieve the burden of final expenses from your surviving loved ones. Policyholders will have peace of mind knowing when their time finally arrives, expenses like funeral and burial costs will be taken care of in advance.
The Guaranteed Whole Life product from United of Omaha offers these important features and benefits:
- Guaranteed policy acceptance for applicants age 45 to 85-years old
- Death benefit starting at $2,000 and up to $25,000
- Benefits cannot be affected by health or age
- No health questions on the application and no medical exam required
- Very competitive pricing