About Adult Life Insurance from United of Omaha Life Insurance Company (United of Omaha)*

     What is adult life insurance?
     What if I already have life insurance?
     What is the difference between term life insurance and whole life insurance?
Which one do I need?
     Will my premiums increase as I get older?
     Am I eligible for adult life insurance?
     If I'm a smoker, does that affect my eligibility?
     Can my coverage ever be canceled?
     Are medical exams required?
     I already own a graded benefit life insurance policy from United of Omaha. If I purchase another policy, will that mean I have to go through that reduced benefit period again?
     When does my coverage begin?
     Does this policy cover all causes of death?
     Will my beneficiary be taxed on the money they receive?

* United of Omaha Life Insurance Company is not licensed in New York. In New York, life insurance policies are underwritten by Companion Life Insurance Company, Lynbrook, NY.

What is adult life insurance?
Life insurance can help provide financial security for those who depend on you. With several amounts of death benefits available, you can select coverage that’s right for you. Your family can use these benefits to help pay medical, legal and final expenses.  (Each individual can own up to $10,000 coverage of this type from United of Omaha. United of Omaha Life Insurance Company is not licensed in New York. Life Insurance policies in New York are underwritten by Companion Life Insurance Company of Lynbrooke, NY. If you'd like to learn more about adult life insurance available in New York, please call 1-866-272-6373.)

Back to Top

 What if I already have life insurance?
People often underestimate the amount of insurance they need. A life insurance policy from United of Omaha pays out death benefits regardless of other insurance you currently own. It’s important to have the right amount of coverage to provide for your family’s future needs . . . so it makes sense to supplement your current insurance with an additional life insurance policy.

Back to Top

What is the difference between term life insurance and whole life insurance? Which one do I need?
Term life insurance is purchased to provide coverage over a specific length of time, typically 10 or 20 years. These death benefits are only paid out during this time frame, and the policy does not build cash value. On the other hand, whole life insurance is intended to insure you until you’re 100 years old. These benefits will be payable as long as premiums are paid when due, and each year your policy builds cash value.

Back to Top

Will my premiums increase as I get older?
Your premiums will never increase. The amount you pay at the time you apply will be the amount you pay as long as you own the policy, regardless of your age or changes to your health.

Back to Top

Am I eligible for adult life insurance?
You are eligible to apply for this insurance if you are age 50 to 75 (55 to 75 in MD).  Your coverage is guaranteed regardless of your health!    Benefits are reduced in the first two years you own this policy in order to guarantee your acceptance.  Click here to see details about this policy. (Each person may own up to $10,000 in graded benefit coverage from United of Omaha. United of Omaha Life Insurance Company is not licensed in New York. Life Insurance policies in New York are underwritten by Companion Life Insurance Company of Lynbrooke, NY. If you'd like to learn more about adult life insurance available in New York, please call 1-866-272-6373.)

Back to Top

If I’m a smoker, does that affect my eligibility?
Your choice to smoke does not affect your ability to apply for this adult life insurance.

Back to Top

Can my coverage ever be canceled?
As long as you pay your premiums when due, your coverage will not be canceled.

Back to Top

Are medical exams required?
No, you don’t have to take a medical exam to receive coverage.

Back to Top

I already own a graded benefit life insurance policy from United of Omaha. If I purchase another policy, will that mean I have to go through that reduced benefit period again?
The graded benefit period only applies to your new policy. If your existing policy was issued more than two years ago, it will pay full benefits for any cause of death (less any outstanding policy loans).

Back to Top

When does my coverage begin?
It begins as soon as your online application and first premium payment is received and accepted by United of Omaha. The Policy date will be shown on the policy you receive in the mail.

Back to Top

Does this policy cover all causes of death?
This policy pays benefits for all causes of death, except for suicide, while sane or insane, within two years of the Policy Date (one year in Colorado and North Dakota; in Missouri, benefits will not be paid if suicide was intended at the time of policy purchase; in New York, while sane or insane does not apply -- call 1-866-272-6373 to speak with a licensed Companion Life Insurance Company agent). The policy also pays a reduced benefit for death due to natural causes (any cause other than accidents) during the first two years the policy is in force.

Back to Top

Will my beneficiary be taxed on the money they receive?
Under the current federal law, the money your beneficiary receives is not subject to federal income tax.

Back to Top