When it comes to life insurance for seniors, there is no company more respected than Mutual of Omaha. They have been in business for over 100 years and have helped millions of people protect their families.
One of their most popular products is the Living Promise, which is a final expense insurance policy. In this review, we will take a look at all the features of the Living Promise and see if it is the right choice for you.
What is Mutual of Omaha final expense Insurance?
Mutual of Omaha final expense insurance is a life insurance policy that is designed to cover the costs of your funeral and other end-of-life expenses. This can be a great way to relieve the financial burden on your loved ones after you pass away.
The Living Promise is one of the most popular final expense policies on the market, and it offers a number of great features.
One of the best things about the Living Promise is that it does not require a medical exam. This means that you can get coverage even if you have health problems. The policy also has no waiting period, so you will be covered from the day that you purchase it.
Mutual of Omaha also offers a number of riders that can be added to the Living Promise. These riders can provide additional coverage for things like cremation, travel expenses, and more.
What are the benefits of Mutual of Omaha final expense insurance?
Mutual of Omaha final expense insurance offers several key benefits that make it an attractive option for seniors. First, the death benefit is paid directly to the beneficiaries, which can help alleviate some of the financial burden associated with funeral expenses.
Additionally, there are no medical exams required to qualify for coverage, which means that seniors can get coverage even if they have health issues that would make it difficult to qualify for traditional life insurance.
Lastly, premiums are typically very affordable, which can make this type of coverage an excellent value for seniors on a fixed income.
If you’re looking for an affordable and convenient way to provide financial protection for your loved ones after you pass away, Mutual of Omaha final expense insurance is definitely worth considering.
For more information about this product, be sure to check out our complete review below.
Does Mutual of Omaha offer First Day Coverage For Final Expenses?
Yes, Mutual of Omaha offers first day coverage for final expenses. This means that if you die within the first policy year, your beneficiaries will receive the full death benefit.
There is no waiting period with this policy, which makes it an attractive option for those who are looking for immediate coverage.
What Are The Eligibility Requirements For Mutual of Omaha Final Expense Insurance?
To be eligible for Mutual of Omaha final expense insurance, you must be between the ages of 45 and 85. You must also be a U.S. citizen or legal resident, and you must reside in a state where Mutual of Omaha offers coverage.
There is no medical exam required to apply for this policy, which makes it a good option for those who have health conditions that may make them ineligible for other types of life insurance.
What is the Death Benefit Amount For Mutual of Omaha Final Expense Insurance?
The death benefit amount for Mutual of Omaha final expense insurance ranges from $2000 to $40,000. The exact amount you are eligible for will depend on your age, health, and other factors.
What is the Premium Payment Schedule For Mutual of Omaha Final Expense Insurance?
Mutual of Omaha final expense insurance premiums are paid monthly. You can also choose to pay annually, semi-annually, or quarterly if you prefer. Your premium payments will never increase, no matter how long you keep your policy.
What is the Cancellation Policy For Mutual of Omaha Final Expense Insurance?
You can cancel your Mutual of Omaha final expense insurance policy at any time. If you cancel within the first 30 days, you will receive a full refund of all premiums paid.
After the first 30 days, you will receive a pro-rated refund of premiums paid, minus any claims that have been paid out.
What is the Surrender Value For Mutual of Omaha Final Expense Insurance?
There is no surrender value for Mutual of Omaha final expense insurance. This means that if you cancel your policy after the first 30 days, you will not receive any money back.
What Are The Pros and Cons of Mutual of Omaha Final Expense Insurance?
– Offers first-day coverage
– No medical exam is required
– Premium payments never increase
– Cancellation policy is generous
– Good death benefit amount
– Not available in all states (Not in NY)
Overall, Mutual of Omaha final expense insurance is a good option for those who are looking for immediate coverage with no medical exam required. The death benefit amount is generous, and the cancellation policy is very customer-friendly.
Mutual of Omaha Final Expense Graded Plan (2yr Waiting Period)
This is the best product that Mutual of Omaha offers. It’s a level death benefit policy, which means that your beneficiaries will receive the full face value of the policy, regardless of when you die during the two-year waiting period.
This is one of the main reasons why we recommend this product over their Simplified Issue Plan.
The only caveat is that you must answer “No” to all of the health questions on the application in order to qualify for this product. If you answer “Yes” to any of the questions, you will automatically be placed in their Simplified Issue Plan.
Mutual of Omaha Final Expense Graded Plan is one of the best final expense insurance policies on the market. If you are healthy and can answer “No” to all of the health questions on the application, we highly recommend this product.
Mutual of Omaha Final Expense Review – Performance
We have had good experiences with Mutual of Omaha in the past. They have always been easy to work with and have paid claims promptly. We have not had any issues with them that would cause us to not recommend them.
Final Thoughts on Mutual of Omaha
Mutual of Omaha is a great company that offers several different final expense insurance policies. We like
Thank you for reading our Official 2022 Mutual of Omaha Burial Insurance Review. We hope that this review has helped you learn more about this product and decide if it’s the right option for you and your family.
If you have any further questions, please feel free to contact us. Thank you!