Mutual of Omaha Extends LPA IUL Guarantees with no Premium Increase

From Mutual of Omaha:

We are pleased to announce that beginning September 24, 2021, we will be extending Life Protection Advantage IUL’s long-term no-lapse protection guarantee from age 85 to age 90. And, we are providing this additional 5-year guarantee at no additional cost!

This exciting new enhancement will help make Life Protection Advantage even more competitive in the industry.

In addition to providing protection that is guaranteed to age 90 at competitive premiums, Life Protection Advantage also offers:

• Competitive Protection Beyond Age 90

• A Guaranteed Refund Option (GRO) Rider

• A Terminal and Chronic Illness Rider

Transition Rules

• Applications signed on or after September 24th will automatically receive the new guarantee to age 90, as long as the long-term no-lapse guarantee premium is paid. Applications signed on or after September 24th must also be accompanied by an illustration dated on or after September 24th to ensure the illustration reflects the new guarantee period.

• Applications signed on or after September 1st that are pending in house will have the option to obtain the new guarantee period upon request. A new illustration reflecting the extended guarantee period will need to be received in the home office by October 15th.