Mutual of Omaha Long-Term Care Insurance Review

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Mutual of Omaha Long-Term Care Insurance Review

Company Details

Founded: 1909
Headquarters: Omaha, Nebraska

Claim Information

Phone Number: 800-621-3724

Products Offered

  • Long-Term Care Insurance
  • Retirement/401k Services
  • Life Insurance
  • Disability Insurance
  • Critical Care Insurance
  • Medicare Supplements
  • Cancer, Heart Attack, Stroke
  • Annuities
  • Dental

Insurer Highlights

Mutual of Omaha offers traditional Long-Term Care Insurance, including partnership-certified plans. Considered by many experts as the leader in long-term care solutions, their plans offer comprehensive benefits that are very flexible to design.

The company is a mutual insurance company with solid financial ratings from all three major rating services: A.M. Best, Moody's, and Standard & Poor's.

Mutual of Omaha has two long-term care products.

Custom Solution

"Custom Solution" is the product Long-Term Care Insurance Specialists will most often use when discussing Mutual of Omaha. It provides many choices and policyholder benefits that can be customized to fit your needs.

There are several beneficial features that most consumers and specialists prefer over their other product called "Secure Solution."

The policy is easily customizable to fit your needs and budget. 

Secure Solution

"Secure Solution" is often used by general insurance agents and financial advisors who lack a complete understanding of long-term care planning. It is a basic plan which provides few options.

Mutual of Omaha has several features and benefits consumers and long-term care specialists look for in a long-term care insurance policy. 

Features and Benefits

Both products provide outstanding value. Key product features include:

  • Partnership

  • Monthly Benefits from $1500 to $10,000

  • Benefit pools from $50,000 to $500,000

  • Shared Care Benefit

  • Inflation options from 1 to 5% compound in any quarter of a percentage increments

  • Case Management

  • Cash Alternative

  • Professional Home Care Benefit – Doubling benefit for skilled services at home

  • Bed Reservation Benefit

  • Additional money to pay for home modifications and medical alerts systems

  • Return of Premium at Death – before age 65

  • Return of Premium at Death – minus long-term care claims paid

  • Joint Waiver of Premium

  • Elimination Periods of 0, 30, 60, 90, 180, and 365 days

  • Survivorship Benefit

  • Security Benefit for Uninsurable Spouse/Partner (additional cash indemnity when insured is receiving benefits that can be used for any purpose, including paying for care for an uninsurable spouse) 

Key Benefit

The "Custom Solution" series includes a unique inflation "buy-up" option, which can increase your benefits, perhaps just before you may need them. 

Every year, on your policy anniversary, you can choose to increase the inflation percentage without evidence of insurability. You can exercise this option for 20 years or to age 74, whichever comes first, as long as you are not receiving benefits at the time.

The company will charge for the additional inflation benefit, but it must sell it to you as long as you are not receiving benefits at the time -- no matter what your health might be at the time. However, the policyholder no longer pays the premium once they receive benefits (although the inflation benefits still increase the benefits over time."

Mutual of Omaha's unique 'buy-up feature is often noted as the primary reason to use "Custom Solution" when selecting Mutual of Omaha.

Another Key Benefit

You can receive benefits anywhere in the United States and U.S. territories, Canada, the United Kingdom, and up to one year in any other foreign country.


If you own a Mutual of Omaha Long-Term Care policy and seek help submitting a claim, LTC NEWS offers free - no-obligation assistance - including help finding quality caregivers and facilities. Since most agents have little or no experience in this area, this assistance can be beneficial for the entire family - Filing a Long-Term Care Insurance Claim | LTC News

Federal Regulation and Consumer Protections

All Long-Term Care Insurance contracts are regulated under IRS regulations §7702B(b). Any insurance contract that meets the guidelines set by the Internal Revenue Service is considered long-term care. All insurance products that meet these federal guidelines contain consumer protections and regulated benefit triggers, in addition to tax advantages.

Mutual of Omaha's Long-Term Care Insurance products meet federal guidelines. 


Mutual of Omaha offers Partnership Long-Term Care Insurance policies in a majority of the partnership states. Partnership policies provide additional dollar-for-dollar asset protection.

Find State-Specific Information

Each state has a state-specific page that includes the current and future cost of long-term care services, available tax incentives, information on care providers, and other important information - LTC NEWS Cost of Care Calculator.

Shopping for Long-Term Care Insurance?

When shopping for Long-Term Care Insurance coverage, remember that numerous state and federal regulations impact Long-Term Care Insurance. Each state's department of insurance regulates products and premiums. Because of regulation, an insurance agent, agency, or financial advisor cannot give a consumer a special discount that is not available otherwise. 

Use all the tools and resources available on LTC NEWS to help you in your research - Resources for Long-Term Care Planning.

There are more similarities than differences when it comes to features and benefits. However, options and benefits vary from company to company, and premiums can vary between companies by over 100% when comparing equal benefits.


Long-Term Care Insurance is medically underwritten, and every company has underwriting rules that determine insurability and rate class. An experienced Long-Term Care Insurance specialist will understand these underwriting rules when helping you select the best company and policy options.

What is Underwriting? How Does Current Health Impact Ability to Obtain Long-Term Care Insurance?

Mutual of Omaha underwriting is generally considered more "conservative" than other insurance companies. However, the company offers four rate classes. A Long-Term Care Insurance specialist can assist you in determining insurability and which rate class you would likely fall into.

Be sure to discuss your pre-existing health issues with a specialist, agent, or advisor before applying with Mutual of Omaha.


Mutual of Omaha will consider some family history as part of underwriting. Anyone with two first-degree blood relatives diagnosed with any form of dementia would NOT be eligible for coverage. If someone has one first-degree blood relative, they would not be eligible for preferred rates. Plus, there are maximum benefit levels available at the time of application.

Seek a specialist's advice to determine if family history could impact your underwriting. 

Comparing LTC Insurance Products

Since your health is a primary consideration in determining your eligibility for coverage, it is always best to start planning before retirement when health is usually better. An experienced Long-Term Care Insurance specialist will ask several questions about your health to provide accurate quotes and professional recommendations.

Please note: Since every company has different underwriting rules, you could be eligible for coverage with one company and not another.

When comparing Long-Term Care Insurance, you should understand the differences between Mutual of Omaha and other companies. There are variations between the policy language and benefits between the many companies that offer Long-Term Care Insurance; however, the primary features and benefit choices are comparable from company to company. 

Premiums and underwriting criteria vary dramatically between insurance companies. 

State variations may apply.

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