“Mutual of Omaha Adds Medicare Drug Plans and an LTC Rider,” by Allison Bell, ThinkAdvisor

“Mutual of Omaha is introducing two products of interests to financial professionals who work with retirees and near retirees. One of the products is a long-term care rider that can be sold with the company’s Income Advantage and Life Protection Advantage Indexed Universal Life policy. … The rider gives purchasers of United of Omaha IUL policies the ability to use a portion of the policy death benefit early to pay long-term care (LTC) expenses. A holder can use the rider to pay for nursing home care, assisted living facility bills, home health care services or adult daycare services. The monthly payout amount can equal 1%, 2% or 4% of the maximum benefit. The company notes that it has been offering another type of LTC benefits rider, an accelerated death benefit for chronic illness rider, for more than a decade.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

We’ll provide more info on this new product when available.

Mutual of Omaha Adds Medicare Drug Plans and an LTC Rider

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