Exploring Hybrid Long-Term Care Insurance Options: Mutual of Omaha and Beyond

Mutual of Omaha, a well-known insurance company with a solid reputation, offers various insurance products, including traditional long-term care insurance policies. However, at the time of writing (early 2023), Mutual of Omaha does not offer a hybrid long-term care insurance product. In the rapidly evolving insurance market, it’s essential to compare multiple companies and products to find the best solution for your unique needs. In this article, we’ll discuss the benefits of hybrid long-term care insurance and highlight Securian’s competitive policy as an alternative option.

Hybrid long-term care insurance is an increasingly popular choice for individuals seeking coverage for potential long-term care expenses. Unlike traditional long-term care insurance, hybrid policies combine life insurance with long-term care benefits, offering flexibility and value. If policyholders need long-term care, they can access the policy’s benefits to cover those expenses. If they do not require long-term care, the policy pays out a death benefit to their beneficiaries. Some hybrid policies also include a return of premium feature, allowing policyholders to receive a portion or all of their premiums back if they decide to surrender the policy.

While Mutual of Omaha does not currently offer a hybrid long-term care insurance product, there are other reputable insurance providers in the market that do. One of these providers is Securian Financial, which has a competitive hybrid long-term care insurance policy called SecureCare Universal Life.

Securian’s SecureCare Universal Life is a hybrid policy that combines life insurance and long-term care coverage. Some of its key features include:

1. Cash indemnity benefits: SecureCare Universal Life pays out cash benefits for long-term care expenses, providing flexibility to policyholders in choosing care providers and managing their care costs.
2. Inflation protection: The policy offers optional inflation protection riders, ensuring that the long-term care benefits keep pace with the rising cost of care.
3. International coverage: SecureCare Universal Life provides coverage for long-term care services received both in the United States and internationally, giving policyholders peace of mind as they travel or live abroad.
4. Return of premium: The policy includes a return of premium feature, allowing policyholders to receive a portion or all of their premiums back if they decide to surrender the policy.
5. Flexible payment options: SecureCare Universal Life offers multiple payment options, including single premium payments, as well as 5, 7, 10, or 15-year payment schedules.

When considering hybrid long-term care insurance options, it’s crucial to research and compare multiple companies and their products. Evaluate policy features, benefits, and costs to find the best fit for your specific needs. Factors to consider include coverage options, waiting periods, inflation protection, and customization options. In addition to Securian’s SecureCare Universal Life, there may be other competitive policies available from different insurance providers.

Furthermore, it’s essential to work with a qualified financial professional who can provide personalized advice based on your unique circumstances. They can help you navigate the complexities of hybrid long-term care insurance products and guide you in selecting the best policy for your needs.

In conclusion, while Mutual of Omaha does not currently offer a hybrid long-term care insurance product, there are other options in the market, such as Securian’s SecureCare Universal Life. By comparing multiple companies and their products, and seeking the guidance of a financial professional, you can find a hybrid long-term care insurance policy that meets your needs and provides you with peace of mind for the future.