Mutual of Omaha Ultra-Premier Fixed Annuity offers a competitive interest rate to help your money grow.
Safe, Secure Option for Your Money
You’ve worked hard to build your assets.
You certainly want to make sure that a portion of your assets are safe and won’t be affected by a downturn in the stock market – especially when you’re counting on using those assets for retirement.
One way to help build and protect your assets is with an Ultra-Premier annuity from United of Omaha Life Insurance Company (Mutual of Omaha).
With Ultra-Premier:
- Interest rates are very competitive.
- You choose a guaranteed interest rate period of either 5 or 7 years.
- Your interest rate is guaranteed for the period you selected
- You won’t have to pay taxes on the money that grows until you begin receiving regular annuity payments.
- Your money is backed by United of Omaha, a Mutual of Omaha company.
Here are some other things to know
Our Guarantees to You
- All of your money works for you – you won’t be charged with sales or administrative fees
- Your beneficiary immediately receives all of the funds in your account if you die – this can help avoid costly probate delays
Access to Your Money
- You can withdraw up to 10 percent of the money in your account each year without a withdrawal charge or market value adjustment (withdrawals before age 59 ½ are subject to a 10 percent federal income tax penalty)
- If the unexpected happens, you have free access to your entire account value if one of these life events occurs:
- Confinement to a hospital or long-term care facility
- Unemployment
- Disability
- Terminal Illness
- Death of a spouse or minor dependent
- Damage to your residence
- Transplant surgery
Policy Minimums and Maximums
- $25,000 minimum (Qualified or Nonqualified)
- $3 million maximum (without United of Omaha approval)
Additions
- $500 minimum additions may be made during the first policy year (subject to policy maximums)
- Additions are credited with the new money interest rate in effect at the time of the addition
Maximum Issue Age
- 5-year: 89 years
- 7-year: 88 years
Free Access to Your Account Value
10 percent of accumulated policy value per year may be withdrawn without a withdrawal charge or market value adjustment ($100 minimum per month).
Waiver of Withdrawal Charges
Withdrawal charges and market value adjustments will be waived for the following events.
Please refer to the policy for complete details.
Confinement to a Hospital or Long-Term Care Facility
Applies once the owner has been hospitalized or confined to a nursing home or long-term care facility for at least 30 consecutive days.
This waiver applies during confinement and within 91 days of the last day of confinement.
Unemployment
Applies once the owner has received unemployment benefits for at least 60 days.
If the owner is receiving unemployment benefits on the day the policy is issued, this waiver does not apply.
Disability
Applies once the owner has become totally disabled for more than 90 continuous days.
This waiver no longer applies once the owner has attained age 65.
Terminal Illness
Applies if the owner has been diagnosed with a terminal illness.
Death of a Spouse or Minor Dependent
Applies to one withdrawal if the spouse or a minor dependent of the owner dies.
For the death of a spouse, the maximum allowable surrender is 50 percent of the accumulation value as of the withdrawal date. For the death of a minor dependent, the maximum is 25 percent.
Mutual of Omaha Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
Damage to Your Residence
Applies if the owner incurs physical damage of $50,000 or more to his or her primary residence.
Transplant Surgery
Applies if the owner undergoes transplant surgery, whether as an organ donor or recipient, of the following body organs:
- heart,
- liver,
- lung,
- kidney,
- pancreas, or
- bone marrow (recipients only).
Market Value Adjustment
If you request a cash surrender or partial withdrawal, a market value adjustment may be applied.
- If the interest rate at the time of cash surrender or partial withdrawal is higher than the interest rate guaranteed for the guarantee period, the market value adjustment will always be downward.
- If the interest rate at the time of cash surrender or partial withdrawal is lower than the interest rate guaranteed for the guarantee period, the market value adjustment will usually be upward.
Options for Continuing Your Policy
- United of Omaha will notify the owner 45 days before the end of each 5- or 7-year guarantee period and provide the options to continue, surrender, or annuitize the contract.
- You have a 30-day window after each 5- or 7-year guarantee period to surrender, continue, or annuitize the contract penalty-free.
- If the owner does not contact United of Omaha, in writing, in the 30-day window after the current guarantee period ends, a new guarantee period of the same length will begin automatically.
The annual interest rate credited to your account will be based on then-current rates.
The withdrawal charges and Market Value Adjustment will also be reinstated.
Retirement Income Planning
If you’re spending the interest from a CD or a fixed annuity to supplement your retirement income, consider a deferred annuity with a lifetime income rider. These annuities would offer a guaranteed income for life (even if the annuity ran out of money), removing the concern of making your money last in retirement and running out of money.
Some lifetime income riders offer a retirement income that increases to keep up with inflation, help pay for long-term care expenses, and offer an enhanced death benefit to help your beneficiaries.
