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Mutual Of Omaha Introduces Charity Annuity Contract

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NU Online News Service, Oct. 8, 11:58 a.m. – United of Omaha Life Insurance Company, a unit of Mutual of Omaha, Omaha, Neb., has introduced the Solutions for Gift Annuity Programs group annuity contract.

Charities can use the contract to shift day-to-day responsibility for mortality risk, investment risk and contract administration to United of Omaha, Mutual of Omaha says.

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United of Omaha can pay the annuity benefits either to the charity or directly to the donors. The insurer has been handling similar arrangements for more than 40 years and now administers $16 million in monthly annuity benefit payments, Mutual of Omaha says.