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Mutual of Omaha / United of Omaha
- Annuities
Download the Mutual of Omaha Contract
and get appointed through the Insurance Sales Network of America
Product Information : Deferred
Annuities
General Overview:
A tax-deferred annuity for retirement savings
Customer Needs: Designed
for more experienced investors seeking:
Investment Options:
Issue Ages:
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Qualified: 0-75
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Non-Qualified: 0-85
Policy Minimum:
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Single purchase payment - $5,000
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Planned purchase payment - $100/month
($1,200 annually, $600 semiannually or $300 quarterly)
Liquidity:
Charges:
|
Surrender Charges: |
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
|
Charge |
8% |
8% |
7% |
6% |
5% |
4% |
3% |
2% |
0% |
Other Features:
Living Care Annuity Product
Highlights - Single premium deferred
annuity with long-term care benefits
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Product Brochure
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State Availability
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Customer Needs: Designed for investors seeking to
protect their retirement assets from the risk of needing long-term care,
but who do not want to purchase a stand-alone long-term care policy.
These investors want:
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A risk boundary that protects their
retirement assets
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Tax-deferral
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Retirement savings with a guaranteed
interest rate
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Access to funds
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Long-term care benefits ensuring
their choice of care options
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Return of their money if they don't
need long-term care
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Death benefit protection of the
annuity value passing to heirs
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Interest Rate
Guarantee:
-
Investment Options:
-
Non-qualified funds only
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$50,000 minimum initial premium
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$300,000 maximum initial premium
(without home office approval)
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Issue Ages:
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The 3X
Guarantee:
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The customer will receive up to
three times the annuity value, at time of first claim, to provide at
least six years of long-term care benefits
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These benefits are first paid out of
the annuity's accumulated value until the annuity value reaches
$1.00. After that, United of Omaha Life Insurance Company guarantees
to pay qualified long-term care benefits until the maximum lifetime
benefit is received
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Long-term care rider is guaranteed
renewable
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Long-term care benefits available
beginning in year three of the contract and after a 90-day
elimination period
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Liquidity:
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Partial withdrawals are limited in
order to maintain minimum long-term care benefits levels
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Any withdrawal reduces the annuity
value which reduces the maximum long-term care benefits by three
times the amount withdrawn
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After year one, access of up to 10
percent of the annuity value is allowed in each contract year
without a withdrawal charge. If more than 10 percent of the annuity
value is accessed, the following withdrawal charge percentages will
apply to the amount of the withdrawal in excess of 10 percent
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Withdrawal Charges:
-
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
|
Charge |
9% |
9% |
8% |
7% |
6% |
5% |
4% |
3% |
2% |
1% |
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Waiver of
Withdrawal Charges:
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Chronically Ill
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Terminal Illness
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Note: Waivers may not be available in
all states.
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Other Features:
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Taxation:
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Withdrawals taken in tax years
beginning prior to January 1, 2010 to pay qualified long-term care
benefits and charges may be taxable as ordinary income and if the
contract owner is not at least 59 ½ may be subject to a 10 percent
federal tax penalty
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The Living Care® Annuity
Long-Term Care Rider is intended to be tax-qualified long-term care
insurance in tax years beginning after December 31, 2009. Therefore,
the long-term care rider charges will no longer be taxed and
benefits will be treated as long-term care benefits after this date
due to the provisions of The Pension Protection Act of 2006
Customer Needs:
Designed for more experienced investors seeking:
Investment Options:
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5 - year rate guarantee
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7 - year rate guarantee
Policy Minimum:
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$5,000 minimum
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2nd and subsequent policies: $2,500
nonqualified; $2,000 qualified
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$500 minimum for additional deposits
allowed in first policy year on the 1-year guaranteed additional
interest rate annuity
Liquidity:
10% withdrawal with no surrender
charge - available after the first contract year.¹
Charges
Surrender Charges: 5 - Year
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
|
Charge |
6% |
6% |
6% |
6% |
5% |
0% |
Surrender Charges: 7 - Year
|
Policy Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
Charge |
6% |
6% |
6% |
6% |
5% |
4% |
3% |
0% |
Waivers of
Surrender Charges
Other Features:
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Additional .15% added to interest
rate on purchase payment and accumulation values $100,000 or higher
- on 5-year and 7-year
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Additional .25% added to new money
interest rate upon the renewal of the contract for the entire
renewal contract period - on the 5-year contract only
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Competitive Renewal Rates
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Systematic Withdrawals
(surrender charges may apply)
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Competitive Commissions
Product Information : Immediate
Annuities
Customer Needs:
Designed for conservative investors seeking:
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Guaranteed lifetime income
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Competitive payouts
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Supplement to retirement income
Funds for early retirement
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Funds to pay life insurance premiums
Customer Needs:
Designed for senior investors seeking:
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Guaranteed lifetime income
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Guaranteed minimum death benefit
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Income enhancement features
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Access to account value
Income Features
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Guaranteed Lifetime Income -
monthly, quarterly, semi-annually or annually
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10% or 20% payment increase for
certain medical conditions (Payment
Enhancement Risk Classes - PERC) optional benefit, no
additional cost.
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3% a year inflation protection -
optional benefit
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Nursing Home Confinement Benefit -
50% payment increase if confined to a nursing home - optional
benefit
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Survivor Continuation Option -
policy tied to life of owner and selected survivor
Access Features
|
Policy Year |
1 |
2 |
3 |
4 |
5 |
6 |
|
Percent Returned |
95% |
96% |
97% |
98% |
99% |
100% |
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Return of premium on cancellation -
up to 100%, according to the above vesting schedule.
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Return of premium for terminal
illness - 100% returned for terminal illness.
Other Features:
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3-day free look period
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Tax-advantaged payments
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Flexible payout options
Death Benefit:
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Return of premium at death
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Guaranteed minimum death benefit -
optional benefit
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Accidental Death Benefit - doubles
death benefit when death occurs in a common carrier accident
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