Mutual of Omaha Secure Solution & Custom Solution

Last updated on March 18, 2024

⬇️ Scroll down to view actual Mutual of Omaha Secure Solution product illustrations for your approximate age & gender.

About Mutual of Omaha
Mutual of Omaha was founded in 1909, incidentally the same year as its arch-rival in the traditional long term care insurance space, National Guardian Life. Mutual of Omaha is a mutual insurance company, which means its owned by its own policyholders instead of external shareholders, allowing it to focus on its policyholders’ long-term needs.

The company maintains high ratings for financial strength and stability, with an A+ rating from A.M. Best, A1 from Moody’s, and A+ from S&P. Its Comdex score is 90/100.

Mutual of Omaha offers two different traditional long term care insurance products: Secure Solution, and Custom Solution. The main difference between the products is that the Custom Solution version allows for a more tailored design of the benefits. You have more choices for the number of years of coverage, inflation protection options, the duration of the waiting period before receiving benefits, and there more riders available. Otherwise, the two products are very similar. We’ll focus on Secure Solution in this review.

About Mutual of Omaha’s Secure Solution LTC insurance
– Reimbursement model
– Premium payment mode is lifetime only. There are no single premium and no limited pay options.
– Partner discounts: 15% partner discount if 2 policies issued; 5% partner discount if only 1 policy issued.
– Preferred discounts: 15% discount from standard rate for those in excellent health.
– Issue ages: between 30 and 79 (75 in NY)
– Maximum monthly benefit amounts: $1,500 to $10,000
– Maximum total lifetime benefits: 2, 3, 4 or 5 years
– Elimination/waiting period: 90 days, 180 days or 365 days
– Inflation protection options: 3% compound, 4% compound, 5% compound, 3% compound 20 years, 5% compound 20 years

Who is Mutual of Omaha right for?
Mutual of Omaha should be the go-to choice for people who are in less-than-perfect health since they have fairly lenient underwriting approach for conditions such as diabetes, heart issues, and history of cancer. Mutual of Omaha is also a good option for people who want to customize their traditional long term care insurance benefits beyond what National Guardian Life offers. Depending on gender and age, the Secure Solution product from Mutual of Omaha can be about 3 to 8% more expensive than the corresponding EssentialLTC product from National Guardian Life. The Custom Solution product is about 3 to 11% more expensive than National Guardian Life’s EssentialLTC product, for similar policy options.

Sample premiums
Here are some sample annual premiums for policies with a $5,000 monthly benefit, 3-yr duration, and 3% inflation protection:

Mutual of Omaha Secure SolutionMutual of Omaha Custom SolutionNational Guardian Life EssentialLTCNational Guardian Life EssentialLTC unlimited benefit
Male age 45$1,644.29/mo.$1,710.52/mo.$1,588.22/mo.$3,652.92/mo.
Male age 60$2,327.62/mo.$2,361.62/mo.$2,215.65/mo.$5,096.01/mo.
Female age 45$2,705.63/mo.$2,769.95/mo.$2,608.67/mo.$5,999.95/mo.
Female age 60$3,962.48/mo.$4,010.05/mo.$3,661.45/mo.$8,421.34/mo.
Price comparison between Mutual of Omaha and National Guardian Life

Note: no optional riders selected for Mutual of Omaha’s Custom Solution policy

🗎 Mutual of Omaha Secure Solution sample illustrations
MOO F45 – Mutual Care Secure Solution $5k per mo for 3 yrs
MOO F45 – Mutual Care Secure Solution $5k per mo for 5 yrs
MOO F60 – Mutual Care Secure Solution $5k per mo for 3 yrs
MOO F60 – Mutual Care Secure Solution $5k per mo for 5 yrs
MOO M45 – Mutual Care Secure Solution $5k per mo for 3 yrs
MOO M45 – Mutual Care Secure Solution $5k per mo for 5 yrs
MOO M60 – Mutual Care Secure Solution $5k per mo for 3 yrs
MOO M60 – Mutual Care Secure Solution $5k per mo for 5 yrs

Compare your long term care insurance options
Are you looking for the best long term care coverage at the lowest cost, that fits your specific needs?

Our brokerage is family-run with a combined 41 years of experience in the insurance industry. As independent brokers, we offer customized advice and recommendations, and can direct you to the best option among the many carriers we represent: Brighthouse Financial, OneAmerica, Mutual of Omaha, National Guardian Life, Lincoln Financial Group and Securian.

It will be our pleasure to help you navigate your options.

For comparative long term care quotes, please contact us at 1-866-LTC-BROKERS. Or simply fill out our quote request form and we will reply shortly.

Thank you. We look forward to assisting you.

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