Mutual of Omaha Disability Insurance Review
Mutual of Omaha, a privately-held Fortune 500 mutual insurer, offers disability insurance designed to protect people in all occupations.
Basics
| Founded | 1909 |
|---|---|
| A.M. Best rating | A+ |
| BBB rating | A+ |
| Company info | “During these uncertain economic times, Mutual of Omaha is strong, stable, secure and ready to meet your insurance and financial needs.” |
Ratings
| Evaluation | 3.5/5 - Mutual of Omaha offers a strong contract with great underwriting, designed to protect all occupations. |
|---|---|
| Contract | 4/5 |
| Application process | 2/5 |
| Customer service | 4/5 |
| Underwriting | 4/5 |
Base Policy Details*
| Product name | Choice |
|---|---|
| Elimination period | 60 days, 90 days, 180 days, 365 days |
| Benefit period | 2 year, 5 year, 10 year, Age 67 |
| Definition of disability | Two-year Own Occupation, then Any Occupation |
| Guarantee | Guaranteed Renewable |
| Partial/residual disability | Basic Partial Disability |
Built-in Features*
| Proportionate Disability Benefit | Pays a partial benefit if you experience a loss of income due to injury or illness. |
|---|---|
| Survivor Benefit | A lump sum benefit paid if insured dies while disabled. |
| Terminal Illness Benefit | Option to accelerate 12 months of payments if diagnosed with a terminal illness while disabled. |
| Presumptive Total Disability | Presumes total disability if you lose sight, hearing, speech, hands, or feet. No elimination period and full benefit paid regardless of employment. |
| Waiver of Premium | No premiums once claim is approved. |
| Transplant Benefit | Pays a benefit if disability arises out of transplant. |
| Rehabilitation Benefit | Vocational training and education to help return to work. |
Additional Riders Available*
| Extended Own Occupation Disability | Extends the True Own Occupation definition of disability beyond two years. |
|---|---|
| Future Insurability Benefit | Allows future increases to the coverage without evidence of medical insurability. |
| Extended Proportionate Disability Benefit | Extends the partial disability benefit beyond two years. |
| Cost of Living Adjustment | Increases the monthly benefit while on claim. |
| Social Insurance Supplement | Part of the monthly benefit could be reduced if you qualify for social security disability. |
| Return of Premium | Refunds a portion of the premiums paid, net of the benefits paid out, when the policy is terminated. |
| Critical Illness Benefit | Pays an additional lump sum if disability is caused by a critical illness. |
| Accident Medical Expense Benefit | Reimbursement for medical expenses caused by accidents. |
| Hospital Confinement Indemnity Benefit | Reimburses for hospital rooms for injuries due to an accident. |
*Subject to availability based on individual applicant’s personal profile.
Last updated on Mar 19th 2018
50 West 23rd Street, Floor 9
New York, NY 10010
Monday-Thursday | 9am-11pm ET
Friday | 9am-8pm ET
Saturday | 9am-9pm ET
Sunday | 10am-9pm ET
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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