Variable Rate Guaranteed Interest Contract (GIC)
Underwritten by United of Omaha Life Insurance Company
Funds deposited to the contract are held as part of United of Omaha Life Insurance Company's (United of Omaha) General Asset Account. The interest rate, adjusted each month or quarter, is based on the London Interbank Offered Rate (LIBOR), plus a basis point spread determined at the time of purchase.The contractholder can make withdrawals for plan benefit payments such as retirement, disability or termination of employment.The contract also offers a single sum payback at termination.
Early Termination Option
The contractholder or United of Omaha may discontinue the contract for any reason with 30 to 90 days notice prior to the last day of the interest rate period.
Designed for plans qualified under IRC Section 401(a), including 401(k) plans, this product also may be sold to collective trust funds composed of 401(a), 401(k) and government 457 plans (based on our underwriting requirements).
For more information, please contact John Fischer at John.Fischer@mutualofomaha.com.