Company Information
Company Name
Mutual of Omaha
Product Name
Mutual of Omaha Ultra Premier 5 MVA
Description
The Ultra Premier 5 is a single premium, fixed annuity with a five-year rate lock. It accepts both qualified and non-qualified deposits. Owners have a 30-day window at maturity to withdraw, transfer, annuitize, or renew their annuity funds. There are no surrender charges at passing.
This annuity includes several hardship waivers that are unique to MYGA contracts. Disability, Terminal Illness, Long Term Care, Unemployment, Annuitization, Damage to Residence, Transplant Surgery, and Death of a Spouse or Minor Dependent can allow for penalty-free withdrawals.
AM Best Rating
A+
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
4.70%
Term
5 Years
Minimum Investment
$ 25,000
Maximum Investment
$3,000,000 without prior approval
Maximum Age
89
Surrender Schedule
9%, 9%, 8%, 7%, 6%, 0%
What We Like About This Annuity
Offered from an A+ rated company with low minimums to start. Penalty free withdrawals of 10% of the contract value available all years. Several hardship waivers allow for free withdrawals. Larger deposits accepted.
Notable Features
Several companies offer long term care and terminal illness waivers, but this annuity goes far beyond. Most notably, if the owner has home damage over $50K or is receiving unemployment benefits for 60 days, surrender charges are waived.
Other Popular Products
Mutual of Omaha is popular for offering competitively priced Medicare Supplements and traditional Long Term Care Insurance. Life insurance, disability insurance and employer based plans are also in-demand offerings.
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About Mutual of Omaha Insurance Company
Headquartered in Omaha, NE, Mutual of Omaha is one of the most well-known insurance carriers in the United States. Founded in 1909, they are an A+ rated company with over $45 billion under management.
One of their strengths is their diverse product offerings. They were one of the first companies to offer Medicare Supplement insurance, but have since expanded into annuity, life, health, long term care, disability, dental, and critical illness policies. Innovation, integrity, results, and greatness are just a few of their core values.