General Insurance FAQs

     Why should I buy insurance from the Mutual of Omaha Companies?
     I don't know much about insurance . . . where can I find more information?
     What types of insurance should I look into?
     Who can I name as a beneficiary?
     When does my coverage begin?
     What if I apply for insurance and later change my mind?

Why should I buy insurance from the Mutual of Omaha Companies?
Mutual of Omaha Insurance Company (Mutual of Omaha) is built on over 95 years of helping make lives better and futures more secure. Although we’re nationally recognized, we haven’t forgotten our Nebraska roots. Our Midwestern values of hard work and reliability help us provide you with excellent and outstanding service.  Mutual of Omaha Insurance Company, United of Omaha Life Insurance Company, and Companion Life Insurance Company have an affirmed rating of “A (Excellent)” – the third highest of 15 rating levels – by A.M. Best as of June 2006, for overall financial strength and ability to meet ongoing obligations to policyholders.   You can trust you’re working with a well-established, dependable, and secure company that offers a variety of insurance options for a safe financial future – at a cost that fits your budget.

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I don’t know much about insurance . . . where can I find more information?
We know you don’t deal with insurance every day. So, we want to make it as easy as possible.  Take a moment to review the Insurance FAQs to learn what types of insurance to consider and how to buy online. And of course, you can always contact our licensed insurance agents if you still have questions. We’re happy to help.

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What types of insurance should I look into?
It all depends on you. The future is unpredictable – and no two people’s needs are the same. The Mutual of Omaha companies provide different types of insurance, so you can build an insurance plan that’s exactly right for your situation:

• Do you have others who depend on you for financial support? Would the cost of expenses "left over" if you were to die put a strain on your family’s financial resources? Then you might want to check into adult life insurance and accidental death insurance. These can give your family the money they need to help during the most difficult times.
• Do you have children or grandchildren? You might want to look into juvenile life insurance. It’ll give them the coverage they need now and protect their ability to be covered in the future.
• Cancer is something you may have to deal with in the future. Cancer insurance will help you pay for expensive treatments and help make sure you or your loved one has the means to pay for the best care possible.

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Who can I name as a beneficiary?
If your insurance policy requires a beneficiary, you can name anyone as your beneficiary. Your spouse, a child, relative, or friend can receive the benefits from the insurance. You can even name multiple beneficiaries to share the death benefit. And after your policy is issued, you can change the beneficiaries if you wish.  One of our customer service representatives can assist you with that.  (If you do not name a beneficiary, or if your beneficiary is not living at the time of your death, benefits will be paid to your estate).

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When does my coverage begin?
Your coverage begins as soon as your online application and first premium payment is received and accepted. (In the case of underwritten insurance, such as cancer insurance, the coverage begins once the premium is received and the application is approved.) The coverage date will be shown on the policy or certificate of insurance you receive in the mail.

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What if I apply for insurance and later change my mind?
You always get a free-look period once you receive your coverage in the mail.  Look it over and if you’re not 100% satisfied, you can return the coverage for a full refund.  The free-look period varies by product and state.

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