What is Mutual of Omaha Living Promise Burial Insurance, and what are the benefits
When a loved one dies, the last thing most people want to think about is how to pay for the funeral. Unfortunately, funerals can be expensive, and many families struggle to cover the costs. Mutual of Omaha Living Promise Burial Insurance is a life insurance policy that helps to cover the costs of a funeral so that families can focus on grieving. The policy pays out a lump sum benefit, which can be used to cover burial expenses like a casket, headstone, or flowers. Best of all, the policy is affordable and easy to qualify for, making it an ideal option for those who want to be prepared for the unexpected.
While this article will cover Mutual of Omaha’s Living Promise Burial Insurance at a high level, for those who would like to dig more into the Living Promise plan, GetSure.org has published a fantastic Mutual Of Omaha life insurance review that you can check out.
How does Mutual of Omaha Living Promise Burial Insurance work
Mutual of Omaha’s Living Promise Burial Insurance is designed to give policyholders peace of mind in knowing that their final expenses will be covered. The policy pays a lump sum benefit to the beneficiary designated by the policyholder, which can cover any final expenses, including funeral costs, outstanding debts, or other expenses. No health questions or medical exams are required to qualify for coverage. In addition, the death benefit is guaranteed never to decrease, and premiums will never increase as long as the policy remains in force. As a result, Mutual of Omaha’s Living Promise Burial Insurance provides policyholders with a simple and affordable way to plan for their final expenses.
Who is eligible for Mutual of Omaha Living Promise Burial Insurance
Mutual of Omaha Living Promise Burial Insurance is a whole life insurance policy designed to help pay for end-of-life expenses. The policy has no medical exam requirement and offers coverage up to $40,000. Eligibility for the policy is based on age, residency, and citizenship status. To be eligible, you must be between the ages of 45 and 85 and a United States resident. If you meet all of these requirements, you can apply for coverage by completing an application and providing basic information about your health. Once your application is approved, you can choose how much coverage you want and make payments on your policy.
How much does Mutual of Omaha Living Promise Burial Insurance cost
Mutual of Omaha Living Promise Burial Insurance is a whole life insurance policy that offers coverage of up to $40,000. The coverage is available to people between the ages of 45 and 85, and the policy does not require a medical exam. Life insurance rates for this policy start at $9 per month, and the policy comes with a 30-day money-back guarantee. Mutual of Omaha Living Promise Burial Insurance can be a good option for people who want to ensure that their final expenses are covered.
What exclusions or limitations apply to Mutual of Omaha Living Promise Burial Insurance
The Living Promise Burial Insurance policy from Mutual of Omaha has a few exclusions and limitations that policyholders should be aware of:
- The policy only pays out if the death is due to natural causes. So, if the policyholder dies due to an accident or suicide, the beneficiaries will not receive any benefits.
- The policy has a two-year waiting period if you get the graded plan. This means you will be paid your premiums plus 10% if the policyholder passes away within two years of taking out the policy.
- The policy only covers US citizens between the ages of 45 and 85.
If the policyholder is outside this age range or not a US citizen, the beneficiaries will not receive any benefits. Despite these exclusions and limitations, Mutual of Omaha Living Promise Burial Insurance can still provide peace of mind for those who want to ensure that their loved ones are taken care of after they die.
How to apply for Mutual of Omaha Living Promise Burial Insurance
Contact your independent insurance agent to apply for Mutual of Omaha Living Promise Burial Insurance. Then, complete the application and provide payment information. Coverage will begin as soon as the application is approved. With Mutual of Omaha Living Promise Burial Insurance, peace of mind is just a phone call away.
Robert Schmidt with Burial Insurance Pro mentions, “A consumer can submit a paper application or an electronic application. One nice thing with the Mutua of Omaha burial insurance plan is if you submit your application electronically, approval may be made within 5 minutes. For many consumers, knowing the status of your application is advantageous. If a person completes a paper application, it may take 5 to 7 business days for an underwriting decision.”
Final Thoughts
If you’re looking for burial insurance that is both affordable and reliable, Mutual of Omaha Living Promise Burial Insurance may be the right policy for you. This policy offers many benefits, including level premiums and no medical exams required for coverage. It’s important to note, however, that some exclusions and limitations apply to this policy. Read the fine print carefully before applying for coverage to avoid any surprises down the road.
