OMAHA, Neb., August 18, 2014 – Mutual of Omaha has introduced a portfolio of three new products that offer financial assistance when an individual experiences certain health diagnoses. The New Beginnings portfolio provides lump-sum benefits for each of the following policy options:
- Cancer insurance
- Heart attack and stroke insurance
- Cancer, heart attack and stroke insurance
These policies aim to supplement other coverage a policyholder may have by providing a full cash benefit upon diagnosis that can be used any way he or she chooses. Additionally, the Heart Attack/Stroke and Cancer/Heart Attack/Stroke policies provide a payout of 25 percent of the benefit amount for coronary artery bypass surgery or coronary angioplasty.
Mutual of Omaha's cancer and cardiac products are unique to the insurance industry because they offer terms of 10, 15, 20 or 30 years, in addition to the traditional lifetime coverage.
“These options create flexibility for our customers, allowing them to select the coverage they want for the price they can afford,” said Chris Haire, product performance director.
All three of the policy options feature:
- Benefit amounts of $10,000 to $50,000
- Plans for individual, individual plus child/children or family
- Express underwriting so consumers who qualify receive their policy faster
Additionally, the portfolio includes optional riders so customers can customize their coverage.
- A Heart Attack and Stroke Benefit can be added to a cancer policy.
- A Cancer Benefit can be added to a heart attack and stroke policy.
- An Intensive Care Benefit can be added to any of the policies with a lifetime term to provide a daily room benefit for each day a person is confined to an intensive care unit, up to 30 days.
- A Cash Value Benefit is available on any of the policies with a lifetime term to return a percentage of premiums paid for the policy and all riders, minus any benefits received.
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States.