Mutual of Omaha launches Guaranteed Plus Whole Life insurance, a new life insurance policy with a no additional cost rider that helps simplify the funeral planning process for consumers.
Image: Mutual of Omaha launches new life insurance product. Photo: Courtesy of everydayplus/FreeDigitalPhotos.net.
Created through a strategic alliance with Everest Funeral Concierge Service, Guaranteed Plus includes the benefits of a Guaranteed Whole Life policy from United of Omaha, plus funeral planning services from Everest, including 24-hour personalized funeral planning assistance, secure online planning tools and online will preparation services.
Guaranteed Plus will be available for consumers to purchase online or over the phone in select states beginning November 5, this year.
Mutual of Omaha senior vice president Brian Poppe said: “After spending a great deal of time listening to our customers, we learned they want to make funeral planning simple and affordable, both for themselves and for the loved ones they leave behind.
“Guaranteed Plus was designed with these needs in mind. Through our collaboration with Everest, we’re excited to be able to offer this innovative new solution that makes the funeral planning process more simple and affordable. Not only will it provide our customers added peace of mind, it will allow their families to grieve rather than worry about all of the little details that go into planning a funeral.”
In February, Mutual of Omaha surveyed life insurance consumers to learn more about their needs. The results of the survey showed 81% of consumers want a more simplified funeral planning process, while 76% want help finding a funeral home that offers fair prices for their funeral.
Everest Funeral Concierge president and CEO Mark Duffey said: “Everest exists to advocate for families, to be their champion and to offer support and independent advice during one of life’s most challenging times.
“We’re very pleased to collaborate with Mutual of Omaha to help make funeral planning simple and affordable for life insurance customers.”
Highlights of Guaranteed Plus include:
Available in face amounts up to $25,000
No medical exam required
Guaranteed death benefits as long as premiums are paid
24-hour funeral concierge assistance to help consumers with funeral decisions, including gathering and presenting funeral pricing in an easy-to-understand format and negotiating prices with funeral homes and other funeral-related service providers
Cost comparison tools to help consumers compare costs at local funeral homes
Secure online planning and storage tools, which allow consumers to put wishes in writing and communicate those wishes to family members
Online services to help create a will, healthcare directive or power of attorney
Expedited payment of life insurance proceeds to help cover funeral costs
Source: Company Press Release