Arguably, no insurance company understands senior’s insurance needs better than Mutual of Omaha. It has been a favorite of seniors for decades not only because of the famous television show it sponsored, “Mutual of Omaha’s Wild Kingdom,” but because it extensively trains its agents on the nuances of the senior market and how best to serve them.
Mutual of Omaha is famous in the insurance industry for its senior life insurance product portfolio. It offers two types of products that seniors with health issues need: a guaranteed-issue policy and a simplified-issue product.
Guaranteed issue policies are precisely what the name implies; they will be issued regardless of a senior applicant’s health history. No medical examination is required, and no health history questions need to be answered. It makes it the perfect policy for a senior who has had serious medical issues, such as cancer, stroke, or heart attack.
Simplified issue policies aren’t guaranteed to be issued, but they don’t require a medical examination either, though they do require an applicant to answer questions about their medical history. This policy type is ideal for seniors with minor medical issues (high blood pressure, type 2 diabetes) and who don’t want to undergo a medical exam.
Because rates for seniors in Massachusetts jump significantly, Mutual of Omaha delivers some very low premiums for Baby Boomers and their parents. Its guaranteed and simplified issue policies are also what has made Mutual of Omaha a household name with seniors.