Mutual of Omaha Company Evaluation and Product Introduction

Financial situation and credit rating

As of 2017, the financial report of Omaha Mutual Insurance announced that the company currently has more than 350 million customers, and its annual turnover in 2017 reached $87 billion, and its net income after tax was $8.626 million, compared with the net after tax in 2016. Revenue was $3.566 million, an amazing increase that doubled.

These figures represent the company's good financial status, and also mean that the company's stability in the market has potential for future development. Therefore, the three major credit rating agencies have given Omaha Mutual a high rating. AM Best gave "A+"" rating, Moody's gave "A1"And Standard & Poor’s gave it"AA-”Rating, Comdex Composite Index gives93Rating.

Omaha Mutual Life is evaluated by 3 major rating agencies as:

• AM Best – (A+)
• Moody – (A1)
• Standard & Poor's-(AA-)

With such an excellent evaluation, as well as the company's own history and development potential, the evaluation team considered being included in the list of insurGuru©️ Top 10 American Life Insurance Companies of the Year.

Life Insurance Product Line Introduction

Omaha Mutual Life's product line is relatively complete, and its life insurance products cover the following categories:

1. Term Life Insurance (TERM)
2. Universal Insurance (UL)
3. Index Universal Insurance (IUL)
4. Participating Whole Life Insurance (WHOLE LIFE)

Term life insurance

In Omaha Mutual Life's term life insurance product line, there are two options for consumers:

• Term Life Direct
• Term Life Answers^®

These two term life insurance products have significantly different uses and characteristics, and there is almost no overlap.Therefore, it is best to compare and understand before purchasing.

Term Life DirectFor this product, the minimum premium is $25,000 and the maximum premium is $10.The policy has the simplest term life insurance function, namely death compensation, no policy conversion, etc.Rider, Can be insured until the age of 80.

Omaha Mutual is one of the few insurance companies in the U.S. that can provide coverage without a medical examination.

If you need a term life insurance policy with a sum assured of USD 100 million and you want to skip the medical checkup, thenHaven LifeMay be more suitable for you.

Term Life Answers^® This product is aimed at customers with an insured amount of more than $100,000, and the insurance period is 10 years, 15 years, 20 years or 30 years.Need to be fully underwritten, and with insurance policy conversionRider, Can be upgraded to whole life insurance products.

Universal insurance

Omaha Mutual's universal insurance product line provides 4 insurance policy products, allowing consumers to have certain choices:

• Guaranteed Universal Life (guaranteed universal life insurance)
• Guaranteed Universal Life Express (Guaranteed Universal Life Express)
• Income Advantage^SM IUL
• Life Protection Advantage^SM IUL
• AccumUL Plus

Different products correspond to different user needs. We will briefly explain the policy products as follows:

If you want guaranteed lifetime death compensation, then Omaha MutualGuaranteed Universal Life(FLOWER) Is suitable for your needs. GUL products are usually the cheapest guaranteed lifetime life insurance products.

And the second one is called Guaranteed Universal Life Express (GULE) products are very similar to Omaha Reciprocal GUL products, but there are two obvious differences.

The maximum application age for GULE is 65 years old, while the maximum application age for GUL is 85 years old.
GULE pursues rapid underwriting, so there is no need for medical examinations and blood tests. As a price, the coverage is lower than GUL.
The insured amount is as follows:

• $25,000 – $99,999, coverage age range 18-65
• $100,000 – $300,000, coverage age range 18-50
• $100,000 – $250,000, coverage age range 51-65

Index Universal Insurance

If you consider the accumulation of cash value and pay attention to the return on investment of life insurance policies, Income Advantage^SM IUL .Life Protection Advantage^SM IUL和AccumUL Plus.These three insurance products are the choices Omaha Mutual offers to such customers.These 3 products provide the bottom-line cash value accumulation part of the income. The policyholder can choose to use this product to accumulate cash value, or as a retirement plan after old age to withdraw money from the policy on a regular basis.

In August 2018, Omaha Mutual LifereleaseLong-term care Rider, exclusively for Income Advantage^SM IUL 和Life Protection Advantage^SM IULThese two IUL products.

Participating Whole Life Insurance

Omaha Mutual Life provides several different types of participating whole life insurance to choose from, and one type is even specifically for children.The specific policy products are as follows:

1. Whole Life Guaranteed (Direct)/Guaranteed Participating Whole Life Insurance (Direct)
2. Whole Life Guaranteed/Guaranteed Participating Whole Life Insurance
3. Whole Life Express^® /Participating Whole Life Insurance Express^®
4. Children's Whole Life (Direct)/Children Participating Whole Life Insurance (Direct)
5. Children's Whole Life/Children Participating Whole Life Insurance

Whole Life Guaranteed(Guaranteed dividend-type whole life insurance), as the name suggests, guarantees underwriting to the insured.This means that there are no medical examinations, no health questions and other routine underwriting procedures.As long as the minimum requirements for age and premiums are met, this product can be covered.The disadvantage lies in how to settle the insured amount.Usually in the early years of insuring, only partial or no claims will be settled.

Whole Life Express^® (Participating Whole Life Insurance Express^®) Is slightly different because it is not a guaranteed product.This product has the basic functions of a participating whole life insurance product and does not require medical examination, but the underwriting process is more complicated than applying for the above products.You sacrifice a certain degree of convenience in exchange for faster payouts in the early years after the insurance.

At last,Children's Whole Life(Child Participating Whole Life Insurance) policy products are developed for children from 2 weeks old to 17 years old.This product is very competitive in the child life insurance market. If you are seeking protection for underage children, this Omaha reciprocal product is worth considering.

This product is equipped with aRider, Giving policyholders the right to increase the insured amount to $250,000 without providing medical information about their children.

Omaha Mutual Life's other products

Omaha Mutual Life also provides Medicare supplementary plans, long-term care insurance, disability insurance, critical illness insurance and other products separately.

If you want to invest through Omaha Mutual Life, policyholders can also choose the company's mutual funds and investment annuity products to invest.Omaha Mutual Life also provides 529 education fund accounts for children.To summarize the following, these products include:

•  Medicare supplement plan
• Long-term care insurance
• Disability insurance
• Major illness insurance
• Mutual Fund
• pension
• 529 Education Fund
• Others

insurGuru©️Comprehensive assessment

Omaha Mutual Life, Omaha United Life, and Mutual of Omaha, United of Omaha, Companion have a long history in the American life insurance industry.A healthy financial situation and excellent ratings have allowed Omaha Mutual Life to enter the Fortune 500.

The company's protection product line, especially the whole life insurance for children, is unique and competitive in the market.Although term life insurance products are not the cheapest, due to the rich product line, some customers always want to put all their investment and protection in the same company, so this is also a reason for choice.