Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Retirement Planning > Retirement Investing > Annuity Investing

Fixed Annuity Contract Can Pay Extra For Long Term Care

Your article was successfully shared with the contacts you provided.

United of Omaha Life Insurance Company has built long term care support into a retirement savings product.

United of Omaha, a unit of Mutual of Omaha Insurance Company, Omaha, Neb., says its new Living Care Annuity contract is a deferred fixed-rate annuity that automatically comes with LTC benefits.

The purchaser puts in a premium to establish the annuity value.

United of Omaha then will credit the annuity with a guaranteed rate of interest over a period of at least 2 years, the company says.

Clients can use the LTC benefits starting in the third contract year.

If a client needs long term care, the client can receive up to 3 times the annuity value in the form of LTC benefits, United of Omaha says.

If the client does not need long term care, the client will still own a fixed annuity, and the beneficiaries will receive a death benefit equal to the annuity value, the company says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.