A Midwestern insurer has introduced a permanent life insurance policy for consumers who want to minimize underwriting hassles.
Mutual of Omaha Insurance Company, Omaha, Neb., has started selling the Guaranteed Universal Life Express policy and the GUL Complete policy.
The GUL Express policy can provide up to $250,000 in death benefits through a simplified underwriting process that takes just a few days, Mutual of Omaha says.
The GUL Complete policy comes with full health underwriting, a death benefit of $100,000 or more, and lower rates, Mutual of Omaha says.
GUL plan options include a free accelerated death benefit feature and a guaranteed insurability rider that permits purchaser to increase the death benefit at specific times regardless of health status, Mutual of Omaha says.
Mutual of Omaha is responsible for backing the product guarantees
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