Mutual of Omaha, also referred to as Mutual Life, is an Omaha, Nebraska, corporation, with the same headquarters as its sister organization, The United States Life Insurance Company (USLIC). Mutual of Omaha is basically a private partnership, meaning each individual policyholder has a small stake in the business. This business owns an extremely large subsidiary known as United of Nebraska, which sells life insurance.
Mutual of Omaha has been around since 1910, and it shows no sign of slowing down. It consistently ranks highly in annual customer satisfaction surveys, as well as ranking highly in profitability. This fact alone should be enough to make most individuals look into purchasing life policies from Mutual of Omaha.
Mutual of Omaha term life insurance offers an excellent package of benefits for the cost. Unlike some types of policies, it provides low premiums, with substantial savings for most. It is easy to purchase and has numerous options for renewal. Many other insurance companies only offer insurance for a limited amount of time and then have to start charging high premiums or lose their customers.
Mutual of Omaha has a long history of providing quality insurance to their policyholders. They are known for offering competitive rates, as well as providing high levels of customer service. Their policies are guaranteed renewable for a certain period of time. They even have an “easy renewal” program where they allow their policyholders to renew policies with them without having to apply again.
Mutual of Omaha term life insurance works very well, because it offers the most affordable premium rates available. Because it is private, it can afford to insure more than one person at a time, which allows the insurance company to spread the premiums across a larger number of people. Since it is so affordable, there are no penalties for early cancellation or for going over your policy’s coverage limits.
In addition, with Mutual of Omaha term life, you will not have to worry about any out of pocket costs if you have an accident or if you die during your term. You will automatically receive an income replacement amount (IRR), which covers the cost of your funeral and burial, along with the benefit of any other expenses you paid towards your death. If you do not pass away during the insured period, the insurance company will pay for these expenses, including taxes on the remaining value of your home and any outstanding debt, until such time that your beneficiaries receive the IRR.
You are covered in case of theft or burglary, because the insurance policies are secured by collateral, such as your home. However, you do have to make sure you have collateral when you apply for the policy. If you have a valuable asset such as jewelry or a car, this type of insurance may not be appropriate for you.
Mutual of Omaha term life insurance is ideal for all age groups, including children, the elderly, those who have a history of heart disease, cancer, high blood pressure or heart problems, or those suffering from diabetes. If you are concerned about the possibility of being a victim of a violent crime, the premiums may be higher, but this risk is offset when you consider the insurance company will cover some or all of the funeral and burial costs. If you smoke tobacco, the insurance will likely be more expensive. for you than if you do not.
There are many types of companies that offer mutual of Omaha term life, including ones that provide “add ons” or extras to the policy such as additional coverage for accidental death, loss of rental property, etc. Be sure you know exactly what these extra charges will cost you before you choose a company. You should also ask about how the insurance company will return your premiums should you die or become disabled before you reach the agreed upon age.
Mutual of Omaha term life insurance is a great investment because the company will continue to pay for your benefits until your beneficiaries are paid, regardless of when you die. Therefore, it is very important to work with a company that is willing to honor this contract in the event of your death, or disability.
A large part of the company’s reputation and success has been based on providing quality insurance products and services to its members. As a member of the Mutual of Omaha family, I hope you will consider becoming a member and become a valued customer.