Sales Tip: Using Mutual of Omaha’s Buy-Up Option to Buy Down

Posted On: March 19, 2015
Posted In: mutual of omaha, Sales Tips
  • The buy-up option is only available on MutualCare® Custom Solution policies
  • Each year, on or before the policy anniversary date, the insured can choose to increase his or her compound inflation protection to any percentage we offer. The insured must elect this option in writing
  • The total level of inflation protection cannot exceed five percent
  • he premium for the policy is based on the insured’s age at the time of the buy up; however, actual premium will include a premium credit based on type of coverage and how long the policy has been in force
  • The increase is effective on the policy anniversary following the election with benefit increases occurring on the following anniversary
  • The increase is available prior to the lesser of 20 years or age 75
  • The insured also has the option to buy down to a lower inflation percentage at any time while retaining any gains applied to the policy as a result of the inflation rider

Get more information about MutualCare Custom Solution policies.