Mutual of Omaha Long-Term Care

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. Differences do exist between the primary companies. When comparing long-term care insurance, you should recognize the differences between Mutual of Omaha and other major companies.

Mutual of Omaha is considered the national leader in the industry.  They have two product series which are available to consumers.

Custom Solution

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

Secure Solution

This product is used most often by general insurance agents and financial advisors who lack a full 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 alike look for in a long-term care insurance policy. 

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 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 – prior to 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

Key Benefit

The “Custom Solution” series includes a unique inflation “buy-up” option which can increase the power of your benefits, perhaps just before you may need them. You will have the option to increase the inflation percentage without evidence of insurability as long as the policyholder is not on claim at the time the request is made. You can exercise this option on the anniversary of your policy for 20 years or to age 74, whichever comes first.

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.

Mutual of Omaha does offer long-term care partnership policies. Find your state on the LTC News Map. You can get the current cost of long-term care services, the availability of partnership plans and tax incentives by clicking here.  

Significant premium differences exist between companies for the exact same benefits. Long-Term Care Insurance premiums are calculated based on your selection of benefit levels you wish to have in place. Premium calculations are also based on your age and health at the time of application. Plus, you may qualify for discounts which might be available.

Every company has their own underwriting rules which 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.

You can find a qualified specialist who represents the major insurance companies which offer these products by clicking here.

Keep in mind, numerous state and federal regulation impact Long-Term Care Insurance. However, options and benefits do vary from company to company. Be sure to seek the assistance of a qualified Long-Term Care Specialist to compare the features, benefits, and costs of each policy.

Since your health is a primary consideration in determining your eligibility for coverage it is always best to start planning prior to retirement when health is usually better. A Long-Term Care Specialist will ask you a number of questions about your health in order to make the appropriate recommendation.

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

Because Long-Term Care Insurance is custom designed you can design the plan to fit your specific needs, concerns and budget. A specialist will help you design your plan to address your concerns. Generally, you can design almost any plan, to:

  • Safeguard income and savings
  • Protect the lifestyle of your spouse/partner
  • Provide options for quality care
  • Reduce the stress and burdens otherwise placed on family members
  • Give your adult children time to be family
  • Provide a legacy for loved ones

State variations may apply.

Mutual of Omaha Long-Term Care
Company Details
Founded 1909
Headquarters: Omaha, Nebraska

Products Offered

  • Long-Term Care Insurance
  • Life Insurance
  • Annuities
  • Disability Insurance
  • Retirement/401k Services

Fun Fact

In 1963, the company began sponsoring Mutual of Omaha's Wild Kingdom, a wildlife program hosted by Marlin Perkins and Jim Fowler that remained on television for more than 20 years. The company was one of the first companies to provide disability insurance to non-professional workers, and in 1966 was among the first companies to provide supplementary coverage for people enrolled in Medicare.

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