What To Do If Your Disability Benefits Were Denied By Mutual Of Omaha
Heres how our long-term disability law firm can help you after a denial by Mutual of Omaha:
1. Free Review of Your Long-term Disability Denial Letter
Our long-term disability lawyer will review a denial letter from Mutual of Omaha free of charge. The first step in developing a plan to fight a denial of LTD income is to understand why Mutual of Omaha denied your claim.
Our ERISA long-term disability lawyer will review your denial letter and provide you with a strategy for fighting the denial. You are not under any obligation to retain our law firm. The review is provided at no charge.
However, time is not on your side. There are short deadlines for filing appeals and taking other actions to dispute a denial of long-term disability. Call 816-203-0143 now to request your free denial letter review.
2. Obtain a Free Copy of Our Disability Guide
Our long-term disability lawyer has written a disability appeal guidebook that provides information about long-term disability claims and appeals. Many of the answers to your questions may be contained in this book. It is a great resource to learn more about:
You can receive your free Disability Guide by contacting our law firm. We also provide information about long-term disability claims, appeals, and lawsuits in our collection of FAQs and articles. These articles are available on our website at no charge to all visitors.
3. Schedule a Consultation with Our Long-Term Disability Lawyer by Calling 816-203-0143
Do You Need Our Disability Attorney To Handle Your Mutual Of Omaha Appeal
You are not required to hire our lawyer to file a long-term disability appeal. Mutual of Omaha prefers that you do not consult with our lawyer because it does not want you to learn about your legal rights.
An insurance company has enormous resources to fight long-term disability claims. They are large corporations with legal departments and teams of adjusters, investigators, and claims representatives. Each of these professionals protects the best interest of the insurance company.
You need to even the playing field with Mutual of Omaha. Hiring the Law Office of Kevin J. McManus to handle your long-term disability appeal gives you the resources you need to fight Mutual of Omaha for the long-term disability benefits you deserve.
Our legal team has substantial experience and knowledge of ERISA laws and insurance laws. Put our knowledge, experience, and resources to work for you.
Based on the review, you can decide whether to schedule a consultation to discuss further action against Mutual of Omaha for denying your long-term disability income and benefits.
How Long Does Long
Even after coverage is approved, your long-term disability insurance benefits wont kick in until youve satisfied the waiting period requirement. For most policies, this is at least 30 days, though it can easily be 60, 120, 365, or even 720 days.
Once benefits start, they will continue until your predetermined benefits limit is reached. This is the period of time you chose when you purchased the policy, and can last for a specific number of years or through retirement. The longer the benefits period, the more youll pay in premiums for your coverage.
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How Osterhout Berger Disability Law Can Help
Bring your letter, your claim file and any correspondence with Mutual of Omaha into the office of Osterhout Berger Disability Law. Our experienced attorneys will review the information and offer you a legal opinion about the approach that you should take. They may ask you to help them with your claim by keeping all of your medical appointments, continuing to see your doctor, completing all follow-up appointments and recommendations, submitting to additional tests and exams and securing written statements about your condition from your former employer, friends and medical professionals. It is important that you listen to and follow the guidance provided to you by your disability lawyer because it is meant to strengthen your claim by adding as much favorable evidence to your file as possible. This may help you to win your appeal while it is still with Mutual of Omaha rather than later having to sue the company after exhausting your internal appeals. To learn more about your potential recovery rights, schedule a consultation with the professional disability lawyers at Osterhout Berger Disability Law today.
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How Much Does Life Insurance From Mutual Of Omaha Cost
Ranked #3 in overall customer satisfaction according to the JD Power 2022 US Individual Life Insurance Study, Mutual of Omaha earns consistently high marks from customers based on five factors, including price.
Since life insurance costs are calculated based on an individual’s age, health, and chosen coverage, prices run the gamut. While Mutual of Omaha’s term life insurance rates are average, its Guaranteed Whole Life Insurance is one of the industry’s cheapest insurance plans.
At first glance, cheap rates and high payouts make term life insurance popular. That said, once the term expires, uncertainty prevails. There are no guarantees a term policy will convert to a whole-life policy. If it does, rates will no longer be locked, which means rising premiums.
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A Flexible Disability Insurance Product
Northwestern Mutual offers both short-term disability and long-term disability plans. Premium amounts vary according to the monthly benefit amount, the occupation of the insured, the length of time disability payments are paid to the insured, and the definition of disability selected. There are four alternative definitions of total disability and a partial disability coverage option if the policyholder can only work part-time.
Premium payment options are also flexible and chosen by the insured. These options include:
- Level Premium: As long as the policy is in force, premiums will remain level.
- Annually Renewable Disability Income : Much like Annual Renewable Term Life Insurance , premiums start lower and will gradually increase each year. Before the premiums become unaffordable for the insured, they can upgrade to the Level Premium option.
- Level/ARDI: A combination of the Level and Annually Renewable premium payment plans.
- Guaranteed Renewable: With this option, the policy benefits canât change, though premium amounts can change by class .
- Non-Cancelable Guaranteed Renewable: This is the option with the highest premium because premiums wonât increase for the life of the policy, and the policyholderâs coverage canât be canceled.
Mutual Of Omaha Financials
Having a diverse group of financial and insurance products allows Mutual of Omaha to be a very stable and secure carrier.
As of the time of this review , as a company, they had a 3.2 billion dollar policyholder surplus, which represents added security for the owners of their policies.
Mutual of Omaha is a mutual company, so they are owned and operated by the policyholders. Being a mutual company allows them to concentrate on long-term growth and the needs of their customers as opposedto the short-term fluctuations of the equity markets.
Mutual of Omaha has an A+ rating from A.M. Best which is considered superior and is the second highest rating out of 16. Ratings are important because they evaluate the financial stability and claims-paying ability of the insurance company. Here, Mutual of Omaha grades out very highly.
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Best For Small Business Owners Or Self
Many optional coverages for business owners
Unimpressive financial strength rating
Long-term disability coverage is even more important if youre a business owner. After all, your business might not withstand the loss of you at the helm for several monthsor even years. Having a long-term disability policy in place ensures youll receive income even in times when your business or freelance work isnt earning you money.
We chose Assurity as best for small business owners and self-employed individuals due to the high coverage limits and depth of options. Disability insurance from Assurity is also available through Breeze, a top-rated insurtech firm that also makes our list. However, coverage options may be limited via Breeze if you are self-employed. Plus, by going directly through Assurity, you can bundle other business insurance coverage with your long-term disability policy.
Assurity offers benefit periods of one, two, five, or 10 years, and you can renew your policy up until age 67. Coverage amounts range from $500 to $20,000 per month, making it perfect for high-earning business owners and solo-preneurs. Your Assurity policy for business owners, or business overhead expense coverage, will even pay for your lease, payroll, and company-related expenses if you are unable to work. These factors put it at the top of our list as the best long-term disability insurance for business owners or self-employed individuals.
Mutualcare Custom Solution Long
For those who want to customize their long-term care coverage, Custom Solution Long-Term Coverage provides greater flexibility over the type of benefits you receive. While it comes at a higher premium, this type of policy includes all of the Secure Solution benefits, as well as greater elimination of waiting periods, multiple options for inflation protection, and a 40% cash benefit.
Monthly benefits with the Custom Solution range from $1,500-$10,000. In the event that you never need to use your policy meaning long-term care is never needed this policy offers a return of premium at death. In other words, your loved ones could still benefit from your policy to pay for end-of-life expenses.
This Custom Solution coverage is ideal for those who have a specific plan for long-term care that is, someone who potentially knows the type of care they want and how much it might cost.
Group Disability Insurance Through Employers
Mutual of Omaha also provides short-term and long-term insurance through employers. These plans vary based on what best fits the company.
Generally, these policies provide 50-60 percent of the employee’s salary to the employee. The policies can also include riders like a survivor benefit, vocational rehabilitation, or cost of living adjustments.
- Normal childbirth and pregnancy
- Voluntary abortion
There are also exclusions for the Priority Income Protection Â® and the Group Disability Insurance plans offered through employers. For more information on these exclusions, interested consumers need to contact Mutual of Omaha directly.
It’s important to keep these exclusions in mind before purchasing disability insurance coverage because knowing the terms will help you determine whether a policy is a good fit for you.
Best For Coverage Options: Mutual Of Omaha
Online quotes aren’t specific
Mutual of Omaha, founded in 1909, has an A+ rating from AM Best and a stellar reputation for customer serviceit came in fifth in the J.D. Power study. But it also has many options for long-term disability coverage that we didn’t see with most other insurers we reviewed. These factors put it at the top of our list for LTD insurance coverage options.
Monthly benefits can extend to $12,000, depending on your salary, and you can renew your policy up to age 67. Plus, you can get partial benefits if youre able to work part-time, and you may qualify for additional benefits as well.
Some of the optional benefit riders include a Hospital Confinement Indemnity Benefits Rider, which pays up to $500 per day if youre hospitalized, and up to $1,000 if youre in an intensive care unit. The Return of Premium Benefit Rider gives back up to 80% of your premiums, minus claims paid, after 10 years if you don’t use the policy. If other companies offer these value-added riders, they arent readily advertised.
However, the company’s “online quotes” only provide a wide range of what you’ll pay for coverage, depending on your occupation. For a specific quote, you’ll need to contact an agent.
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Mutual Of Omaha Disability Insurance Review
Known by multiple generations as the company that sponsored âWild Kingdom,â Mutual of Omaha has long been a company with a commitment to having a quality product line. In addition to a full complement of health and life insurance products, their disability insurance policies are quite robust. They are available in both short-term and long-term coverage.
This review will put their long-term disability insurance product in the spotlight because it has had a much higher adoption rate than their short-term product.
Comparing Ltc Insurance Products
Since your health is a primary consideration in determining your eligibility for coverage, it is always best to start planning before retirement when health is usually better. An experienced Long-Term Care Insurance specialist will ask several questions about your health to provide accurate quotes and professional recommendations.
Please note: Since every company has different underwriting rules, you could be eligible for coverage with one company and not another.
When comparing Long-Term Care Insurance, you should understand the differences between Mutual of Omaha and other companies. There are variations between the policy language and benefits between the many companies that offer Long-Term Care Insurance however, the primary features and benefit choices are comparable from company to company.
Premiums and underwriting criteria vary dramatically between insurance companies.
State variations may apply.
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What Happens After An Appeal Of A Denial By Mutual Of Omaha
When you receive your denial letter from Mutual of Omaha, you need to act quickly. There are very short deadlines for filing appeals of long-term disability denials. If you are going to file an administrative appeal yourself, there are numerous documents you need to gather and submit to give yourself the best chance of success.
When filing an administrative appeal, you want to include documents such as, but not limited to:
- Copies of all medical records related to your disability, including any new records since your initial long-term disability application
- Statements from physicians and medical experts explaining your disability and how your disability impacts your ability to work
- Witness statements from friends, family, and co-workers about how your disability limits your activities and performance
Mutual of Omaha has 45 days to respond to the administrative appeal. If it denies the long-term disability appeal, your other option is to file a lawsuit against Mutual of Omaha.
Your administrative appeal is crucial. You could win your long-term disability appeal at this step and avoid litigation.
To ensure that you present the strongest case for approval of long-term disability benefits, you may want to hire our long-term disability lawyer to handle your administrative appeal. Your lawyer understands how to build a strong case and how to fight the unfair advantage given to Mutual of Omaha by ERISA laws.
Mutual Of Omaha Short
Group disability insurance has never been a strong suit of Mutual of Omaha. Not because their policy lacks solid benefits, but because of stiff competition from companies specializing in group plans,
The short-term disability plan is very flexible for employers. They can design a customized plan for their business by choosing if they will contribute to the employeeâs monthly premium and have an annual enrollment period.
Employees can choose the length of their elimination period, but the employer selects the length of the benefit period. Many companies choose a benefit period of 26 weeks, while employees typically select a 7-day waiting period.
Optional short-term Di features are:
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Mutual Of Omaha Complaints And Customer Satisfaction
Mutual of Omaha drew close to the expected number of complaints for a company of its market share for life insurance, according to three years worth of data from the National Association of Insurance Commissioners.
Mutual of Omaha ranked No. 3 out of 22 companies in J.D. Power’s 2022 U.S. Life Insurance Study for overall customer satisfaction
Mutualcare Secure Solution Long
The more traditional option, Mutual of Omahas Secure Solution Long-Term Care Insurance, covers qualified long-term care services and helps protect your retirement savings. Depending on your preference, this type of policy can provide between $1,500 and $10,000 in monthly reimbursement for long-term care.
This policy also includes an optional 30% cash benefit, waivers for your premiums while receiving long-term care , and care coordination. The latter is a service that matches you with a licensed care professional who will help create a holistic approach to your care needs.
Inherently straightforward, Secure Solution is an ideal option for those who want simple coverage for care services.
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Additional Coverage Options From Mutual Of Omaha
When shopping for life insurance, add-ons and extras typically take shape as a rider. A rider is optional coverage, at additional cost, for circumstances not included in your standard policy. At Mutual of Omaha, a whopping 14 riders allow for customizable coverage. Rider availability is dependent upon policy type.
Accidental death benefit rider: This rider provides additional benefits for accident deaths as opposed to illness or old age. It offers a minimum benefit of $10,000 with a maximum benefit based on the insured’s age at the time of policy issuance.
Additional insured term rider: This rider offers an additional death benefit to the insured or up to four other individuals named on the policy, assuming they meet all requirements. It provides a minimum death benefit of $25,000 and a maximum benefit of two times the base value.
Child life insurance rider: The child coverage rider offers coverage for dependent children ages 15 days to 20 years (to be paid up until their 23rd birthday or until the insured turns 65. This is a term rider, meaning the covered children should buy permanent life insurance policies as adults. It comes with $1,000 minimum coverage and a $10,000 maximum, dependent upon the base life insurance plan.
Disability rider: This rider provides a monthly benefit: the lesser of 1.5% of the issued face amount, $3,000 per month, or 60% of one’s gross monthly income. It activates should the insured become disabled.