Mutual of Omaha has introduced a new disability insurance product that offers a simplified application, as well as budget-friendly policy options for customers.
Priority Income Protection pays a monthly benefit to assist with living expenses when a policyholder is unable to work due to a covered injury or illness. Customers are able to select coverage that fits their budget by making two choices: the monthly benefit amount and the benefit period.
The application and underwriting processes for Priority Income Protection are simpler than many other disability insurance products on the market. Applications do not require a medical exam or information from a health care provider. Customers simply answer a few health questions to determine eligibility, and all occupations can qualify.
"This product was designed with our customers in mind," said Stephen Abels, senior vice president of Individual Pre-Retirement Solutions. "Our market research shows that individuals seeking disability insurance want affordable plans, options for coverage amounts, and an easy-to-understand product. Priority Income Protection provides all of that."
Policies are issued within days to qualified applicants, and customers are able to renew the policy until age 65, as long as the required premiums are paid when due.
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States.