Understanding the Pricing and Benefits of Mutual of Omaha Final Expense Insurance
Burial or funeral expenses are costly. The expenses vary based on your needs, and it would range from a few dollars to $15,000 without including other expenses such as medical costs. This considerable amount may become a burden for your family members, and they suffer both mentally and financially. If you are looking for ways to deal with this scenario, a final expense insurance policy can be the right choice.
Final Expense Life Insurance
Final expense insurance is similar to a whole life policy specifically used to deal with burial or funeral expenses.
Several insurance companies offer final expense life insurance. Many people have chosen Mutual of Omaha Final Expenses Insurance due to its varying benefits and numerous pricing options that would fit any person.
What Is Mutual of Omaha Burial Insurance?
The ultimate goal of this policy is to make funeral costs affordable for everyone. That is why they offer final expense life insurance quotes at any face amount you would like to go with.
When you use this policy, the premium amount is not limited to $10,000 to $20,000. You can increase or decrease the policy amount.
Based on the estimated amounts required for different burial formalities, you can choose Mutual of Omaha Final Expense Insurance. It offers insurance for age groups 45–85 only.
Why Buy Mutual of Omaha Funeral Insurance?
Final Expense Insurance from Mutual of Omaha varies from other insurance plans. Here are the benefits of choosing this one to meet your insurance needs.
- Numerous Options: As Mutual of Omaha offers several policies, you can pick the best plan for you based on your age, sex, location, and budget.
- Long-Term Relationships: Many insurance companies just focus on getting the client, and once you sign up, they walk out of the door. But the way Mutual of Omaha deals with clients is different. They are friendly and maintain long term relationships with the clients. All the communication can be done with just a phone call, and they can serve you.
- Instant Approval Carriers: If you want to go with the same day approval final expense life insurance, you ensure that it is the trustable final life expense plan for you. If you are looking for the cheapest final expense policy, Mutual of Omaha Final Expense Life Insurance is your best and secure option.
- Tax-free amount: With this policy, your named beneficiary can spend the policy amount for your funeral expenses. The policy amount received will be tax-free, and the amount can be used for any needs.
- Whole life policy options: The Living promise of Mutual of Omaha comes with two plans: level plan and a graded plan. With the level plan, you will be covered from the day you make your first premium. The level plan is sold only through licensed agents, and it is guaranteed. If you go with a graded plan, the waiting period would be two years. If the insured person passes away during the waiting period, the entire premium amount paid will be returned with a 10% interest rate.
- Lower premium rates: The premium rates offered by Mutual of Omaha Final Expense insurance are lower than other insurance companies.
- Insurance riders: With Mutual of Omaha final expense life insurance, some riders come with the policy. When the insured is under-diagnosis for an illness and the lifespan is less than 12 months, the death benefit may be increased by up to 50%.
If the insured is hospitalized for more than 90 days, the death benefit can be accelerated by up to 50%. All these riders are free of cost for the insurer.
There is one more rider called Accidental death rider. If you add this rider to your burial insurance policy and if the insured passes away due to an accident, the policy payout will be doubled. This rider can only be added to the final expense level benefit.
- Leftover policy amount: If the policy amount remains after the funeral expenses, the leftover amount can be used by your beneficiary for his own needs.
No one wants to die, but everyone has to pass one day. So, better, you should have a final expense policy so that your loved one will not have any financial burden. Mutual of Omaha has the top track record with major financial rating companies, namely Moody’s, Standard and Poor’s, and BBB. You can check with your independent agent for more details or help.
Mutual of Omaha aims to provide the clients with an easy and fast way to apply for the final expense life insurance.