Mutual of Omaha Final Expense Policy Options and Costs

Mutual of Omaha offers two types of final expense policies: a traditional whole life policy and a simplified issue whole life policy.

The traditional whole life policy requires a medical exam and can provide a higher death benefit.

Simplified issue whole life policies, on the other hand, do not require a medical exam and are often used for those with pre-existing medical conditions.

The cost of a Mutual of Omaha final expense policy can vary depending on your age, health, and other factors.

Typically, the cost of a traditional whole life policy is higher than that of a simplified issue policy.

Mutual of Omaha's final expense plan has some impressive features that set it apart from other companies. One notable aspect is that coverage is available for ages 45 through 80, and up to $40,000.

This is a significant advantage compared to other companies, which typically only offer up to $25,000 for an immediate, level death benefit. The company also offers a reduced amount to $20,000 for applicants who qualify for the graded death benefit.

The graded death benefit is an option that allows policy holders to access the death benefit while they're still living, if they're diagnosed with a terminal illness or have been in a nursing home for 90 days or more. This can be a huge relief, especially when it comes to out-of-pocket medical expenses.

This benefit can be used for anything the policy holder wants, whether it's to pay off medical bills or make a special purchase. However, the illness or condition must be verified and documented by their physician.

One optional rider that can be purchased is the Accidental Death rider, which can be added at the time of application for an additional cost. This rider will double the death benefit if the policy holder dies from an accident.

Here's a quick summary of the coverage options:

Mutual of Omaha final expense insurance rates vary depending on age, health, and the amount of insurance purchased. The rates are competitive, but it's essential to consider the company's financial stability.

Mutual of Omaha has a strong financial foundation, with ratings from A.M. Best, Moody's Investor Services, and Standard & Poor's indicating an ability to pay claims. The company has over $9.4 billion in revenue and an A+ rating with the Better Business Bureau.

The cost of a funeral can exceed $10,000, including a casket and vault, according to the National Funeral Directors Association. Planning ahead with final expense insurance can provide financial relief to loved ones later.

Here are some sample rates for Mutual of Omaha final expense insurance:

If you don't medically qualify for a Level Benefit Policy, you're not out of luck. Mutual of Omaha offers a guaranteed issue policy that doesn't consider health issues when underwriting the policy.

This means that virtually any living person between the ages of 45 and 80 will qualify for up to $25,000 in coverage.

The cost of funeral expenses can be a significant burden on loved ones. The median cost of a funeral in 2023, including a casket and vault, was over $9,000.

Mutual of Omaha's final expense insurance can help cover these costs. For a $10,000 policy, rates start at $24.55 for a 45-year-old male non-smoker.

The cost of life insurance with Mutual of Omaha also depends on age and gender. For a $10,000 policy, a 50-year-old male non-smoker pays $29.46 per month for a level benefit policy.

A 2-year waiting period can increase the cost, with a 50-year-old male non-smoker paying $40 per month. Adding an accidental death benefit rider can cost a few extra dollars per month.

Here's a breakdown of Mutual of Omaha's life insurance rates for seniors:

These rates are for a $10,000 whole life insurance policy with no waiting period. The cost can vary depending on individual circumstances.

The cost of funeral expenses can add up quickly, with options like burial plots, caskets, and headstones contributing to the total cost. In fact, the total cost of a funeral can easily exceed $10,000.

Mutual of Omaha's guaranteed life insurance quote for a $10,000 policy is as follows:

These rates are for a health standard non-smoking individual and are subject to change.

Mutual of Omaha has a strong financial foundation, with over 9.4 billion in revenue. This financial stability is a key factor in their ability to pay claims.

Their A+ (Superior) rating with A.M. Best, A+ rating with the Better Business Bureau, and A1 Good rating with Moody's Investor Services demonstrate their financial strength. This is a crucial aspect to consider when choosing a final expense insurance provider.

Mutual of Omaha's ratings from national rating services provide a clear indication of their ability to pay claims and future operating obligations. This is reassuring for policyholders who want to be sure their life insurer can deliver on its promises.

A+ (Superior) is the highest rating given by A.M. Best, while AA- (Very Strong) is the second-highest rating given by Standard & Poor's. These ratings indicate Mutual of Omaha's continuous growth and financial strength.

Here is a summary of Mutual of Omaha's ratings:

These ratings show that Mutual of Omaha has a strong financial foundation, which is essential for providing whole life insurance benefits to its policyholders.

Mutual of Omaha offers two plan options under the Living Promise whole life insurance policy: level benefit and graded benefit. The type of plan you qualify for depends on your answers to the health questions in the application.

The level benefit plan provides immediate full coverage with no waiting period, making it ideal for those with minor health issues. This plan does not require a medical exam or blood/urine tests.

The graded benefit plan, on the other hand, may have a waiting period before the full death benefit is paid out. This plan is also available for those who may not qualify for the level benefit plan due to serious health issues.

You might think that term life insurance is the cheapest option, but it's not always the best value. Term insurance is temporary, and most policyholders outlive their policy.

One of the primary reasons term insurance costs less is because it's temporary, and your insurance company can cancel your policy for non-payment.

However, whole life insurance offers more stability and security, even if it costs a bit more upfront. With whole life insurance, your premiums remain level for the life of the policy, and your age or changes in health won't affect your periodic premiums.

Here are some key benefits of whole life insurance that make it a more valuable option:

In some cases, whole life insurance can even be tax-free, with your beneficiary receiving the death benefit without any taxes owed.

Mutual of Omaha offers two plan options under their Living Promise whole life insurance policy: level benefit and graded benefit. The plan you qualify for depends on your answers to the health questions in the application.

The level benefit plan provides full coverage on the first day, with no waiting period. This is because Mutual of Omaha uses liberal underwriting guidelines for their Final Expense Insurance product.

The graded benefit plan, on the other hand, may have a waiting period before the full death benefit is paid. However, this plan is also an option for those who may not qualify for the level benefit plan.

Here's a comparison of the two plan options:

Keep in mind that the plan you qualify for will depend on your individual circumstances and answers to the health questions in the application.

Mutual of Omaha offers a Guaranteed Whole Life Insurance plan that makes burial insurance accessible to everyone, regardless of their health conditions.

This plan is available to folks aged 45-85 and provides coverage ranging from $2,000 to $25,000.

The plan is flexible and can change depending on your evolving needs over the years.

The death benefit will never decrease, no matter what your age is or how your health condition is.

The plan also comes with a guarantee that it will never expire as long as premiums are paid per month.

There is, however, a mandatory two-year waiting period before policyholders receive full benefits.

If you die before the two years due to natural causes, you'll receive a refund of all your monthly premiums plus 10% interest.

This plan is more expensive than the Living Promise plan, as Mutual of Omaha doesn't ask health questions, which means they're taking on more risk.

To find out if this plan is available in your state or to get more information, you can give them a call at 800-208-4974.

When choosing a burial insurance plan, it's essential to consider the top companies that offer reliable coverage. Family Benefit Life is one of the top companies offering burial insurance.

Liberty Bankers Life offers flexible policy options, allowing you to choose the coverage that best suits your needs.

Mutual of Omaha provides a range of burial insurance plans, including whole life and term life options.

Royal Neighbors of America is another top company that offers burial insurance plans with affordable premiums and comprehensive coverage.