United Mutual of Omaha Life Insurance Company has a marketing emphasis on smaller, lower premium policies.
Those policies are described by United of Omaha Life Insurance Company as:
“A Whole Life Guaranteed policy from United of Omaha Life Insurance Company (United of Omaha) helps ensure that your family may be supported in the future.An insurance policy from United Mutual of Omaha Life Insurance Company helps provide financial protection to those who depend on your assistance every day. Benefit payouts can help fund costs such as daily expenses, unforseen accidents, and education funds.
A Whole Life Guaranteed insurance policy offers: Up to $25,000 in coverage, Guaranteed coverage for those aged 45-85, No medical exam or health questions, No decrease in benefits or increase in premiums, Builds cash value to borrow against, A Whole Life Guaranteed policy also includes a graded death benefit. If death occurs from natural causes (not accidental) during the policy’s first two years, the beneficiary will receive all premiums you paid plus 20 percent. Once the two year period ends, the beneficiary will receive the policy’s full benefit.”
Are You a Beneficiary in a Mutual of Omaha Life Insurance Company Claim?
This is a new, more aggressive sales move of life insurance company – as no longer does Mutual of Omaha even want to just have the rescission laws on its side. Under those laws, in California, the insurance company that seeks to rescind a policy needs to affirmatively bear the burden of finding material evidence to justify its actions. Instead of following that law, Mutual of Omaha seeks to eliminate the insurance in the first two years of the policy. By writing a life insurance policy that does not provide any life insurance coverage in the first two years, the policy is, in our opinion, inherently misleading, and not an insurance policy at all.
Mutual of Omaha Sells Life Insurance, Then Claims it isn’t Life Insurance for the First Two Years.
Even Wikipedia features a section of the numerous verdicts against Mutual of Omaha for bad faith, unfair dealing, breach of contract, and claims denials.