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Whole Life with Mutual of Omaha

Our whole life portfolio offers two products: Living Promise Whole Life and Children's Whole Life. These products offer clients simplified underwriting, coverage for final expenses and ability to build cash value.

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Living Promise® Whole Life

A good fit for:
  • Need coverage that doesn't require a medical exam
  • Have a fixed income or tight budget
  • Need coverage for burial, funeral or to pay off debts

Children's Whole Life

A good fit for:
  • Want to lock in low childhood rates that will never increase
  • Want guaranteed coverage throughout adulthood regardless of future health
  • Can be purchased by grandparents or parents

Product Details

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Living Promise Product Highlights

No medical exam - coverage based on your answers to a few simple health questions

Premiums never increase

Builds Cash Value

Benefits never decrease

Cannot be canceled for any reason if premiums are paid

Benefits paid directly to a designated beneficiary

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Children’s Whole Life Product Highlights

Guaranteed coverage that lasts for the entire life of the insured

Premiums will never increase

Set policy to be paid to designated beneficiaries

Potential cash value that grows with the child

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Living Promise®
Whole Life

Children's
Whole Life
 

Living Promise Whole Life Insurance offers simplified underwriting and level and graded benefit plans for seniors to help cover final and other expenses.

Graded Benefit Plan not available in MT and NC.

Children’s Whole Life is permanent life insurance that parents buy for their child. The child’s future insurability is guaranteed, regardless of health conditions that may occur later
Issue Ages

(Age Last Birthday)

Level Benefit Plan:
45-85

Graded Benefit Plan:
45-80

14 days to 17 years
Face Amounts

Level Benefit Plan:
$2,000 - $50,000

Graded Benefit Plan:
$2,000 - $20,000

$5,000 - $50,000

$5,000 - $50,000
Underwriting Classes

Level Benefit Plan:
Standard Tobacco/Nontobacco

Graded Benefit Plan:
Standard (no tobacco distinction)

Standard
Table Rates

N/A

None
Premium Modes

(Modal Factors)
  • Annual (1.00)
  • Quarterly (.275)
  • Semiannual (.52)
  • Monthly BSP (.089)
  • Annual (1.00)
  • Quarterly (.25)
  • Semiannual (.50)
  • Monthly BSP (.08333)
Policy Fee

Level Benefit Plan:

  • $36 Annual Policy Fee (Commissionable)

Graded Benefit Plan:

  • $12 Annual Policy Fee (Commissionable)

$12 Annual Policy Fee (Commissionable)
Riders

Level Benefit Plan:

  • Accidental Death Benefit Rider
  • Accelerated Death Benefit Rider*

Graded Benefit Plan:

  • None

None

  • Guaranteed Insurability Rider*
  • Death of Policy Owner Waiver of Premium Rider*
Low-Cost Loans

Charge 7.4% in advance

Charge 5.66% in advance
Conversions

N/A

N/A
Death Benefit Guarantees

Policy is guaranteed to age 100 as long as premium is paid

Policy is guaranteed to age 100 as long as premium is paid
Other Product Features
  • Simplified underwriting
  • Small face amounts
  • No death benefit reductions in early years (Level Benefit only)
  • iGo e-AppTM
  • Additional coverage may be purchased in the future without evidence of insurability
  • Limited health questions and no medical exam
  • Rates never increase and benefits never decrease
  • iGo e-AppTM

*included in the policy

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