Mutual of Omaha Life Insurance

Mutual of Omaha Insurance Company Details

Contact Information

Company Address:
Mutual of Omaha Life Insurance Company is situated at Omaha Plaza, NE 68175

Assistance can be obtained by sending an e-mail request to rp.groupannuity.services@mutualofomaha.com

Telephone Number: (402) 342-7600

Fax: (402) 351-2775

Brief History:

Mutual of Omaha Life Insurance Company was originally established back in 1909 as Mutual Benefit Health and Accident Association. In the early days with Harry S. Weller as the president, the company faced many challenges including the 250 applications it needed before obtaining its state license. Harry S. Weller severed as President for more than 23 years. The company introduced its long-running Mutual of Omaha’s Wild Kingdom in 1963 and ran for more than 25 years.

Number of Employees:

A report given by the end of December, 2013 indicated that the company had 28,500 employer groups with over 8.2 million members.

Mutual of Omaha Interesting Facts:

With the challenges the company faced in the beginning, it is now one of the best performing insurance companies with a very strong capital position. They have a discipline balance sheet management as well as investment strategies which has seen them through these heights. By the end of the year 2013, the company had $2.7 billion in the statutory surplus. This is very important for the capital strength of an insurance company.

The company uses an investment strategy that considers proper time management to build a portfolio for customer support. They sell a wide range of insurance products with the aim of meeting the customer needs. They have well developed and structured strategies for handling assets and liabilities for efficient functioning.

The company sponsors what they call ‘aha moments’. This is one referred to as moment of clarity where you gain important knowledge to change your life. Despite the magnitude of this, or however funny or it could be, it has been not only surprising but also inspiring. This is a tour that is taken to different regions as a way of helping to change people’s lives and it also helps to market the company.

The company has an established Mutual of Omaha Foundation. This foundation is based on the belief that through investment in programs and organizations to demonstrate impacts with their specific outcomes, we can successfully break the cycle of poverty. The foundation approved a total of $8.6 million grants in 2013.

Process for Changing Your Policy:

Changing your policy involves an application by filling a policy change form from the company. For instance, changing the beneficiary, one will pick or download the form and fill all relevant information as provided in the form. The form should only be filled by the person who, according to the insurance rules, has the right to fill the beneficiary form. This is then taken by the insurance company for processing and then applying the changes as indicated in the form by the applicant.

Mutual of Omaha Coverage Locations:

The company is found in all the states in the US.

Mutual of Omaha Consumer Rating:

The company has earned itself very strong rating from as a result of its services. The three major rating services include;

1. A.M Best Company
The company was rated as excellent for financial practices and its ability to meet very tight obligations of the clients. This made it be rated the second highest out of 16.

2. Moody’s Investors Service
This was a recognition it had for good financial strength and its ability to withstand a lot of financial stress in future. This made it the fifth highest out of 21.

3. Standard & Poor’s
It was ranked high for its financial strength in meeting obligations to the policy holders. This made it the fifth highest out of 21.

 




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