Ultra-Secure Plus, single premium deferred annuities from the United of Omaha Life Insurance Company, guarantee you a fixed-interest rate for five or seven years.
That can help you accumulate money for retirement, and you get the peace of mind that your investment will not decline in value.
You can’t predict the performance of the stock market, but you want the right investments that will get the most for your money.
Your money also grows tax-deferred, and you do not have to pay taxes on the money that accumulates until you decide to begin receiving annuity payments.
Competitive interest rates
Ultra-Secure Plus 5
Your annual interest rate is guaranteed for five years. For initial payments and accumulation values over $50,000, an additional 0.15 percent interest rate will be added.
Ultra-Secure Plus 7
Your annual interest rate is guaranteed for seven years. For initial payments and accumulation values over $50,000, an additional 0.15 percent interest rate will be added.
Your interest rate will be locked in the date your Ultra-Secure Plus application and initial payment are received. Your rates are guaranteed not to change during the five- or seven-year policy period – regardless of any stock market fluctuations or declines in fixed interest rates.
Our guarantees to you
- 100 percent of your principal is guaranteed by United of Omaha, less any money is withdrawn or penalties you may incur.
- There are no initial sales or administrative charges, meaning all of your money works for you. (Early withdrawals may be subject to withdrawal charges.)
Access to your money
With Ultra-Secure Plus, your money is always available, allowing you the flexibility to access your money as you may need it.
Account Withdrawals
We believe that you should have free access to your money – after all, it belongs to you.
That’s why you’re allowed to withdraw up to 10 percent of your accumulated account value each year without a withdrawal charge or interest adjustment.
Life Events
We understand that the unexpected can happen.
That’s why you have free access to your money in the following circumstances:
- Hospitalization
- Disability
- Terminal illness
- Unemployment
- Death of a spouse or minor dependent
- Damage to your residence
- Transplant surgery
Return of Premium
Ultra-Secure Plus helps to provide some peace of mind knowing that you can receive a return of your premium at any time.
If you choose to cancel or surrender your contract, you are guaranteed a refund of 100 percent of your remaining premium, less any payments that you have received and premium taxes incurred.
- 100 percent of the remaining premium can be returned at anytime
- The surrender value will never be less than purchase payments.
- Renews at time of contract renewal and guarantees the client the accumulation value at the time of the most recent renewal date
Advantages for your beneficiaries
All the funds in your policy will be paid immediately to your beneficiary if you die during your contract. This can help avoid costly probate delays.
Mutual of Omaha Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
Policy Highlights
Withdrawal Charge Period
- 30-day window after each 5- or 7-year guarantee period to surrender, continue or annuitize the contract penalty-free.
- The policyholder is notified by United of Omaha 45 days before the end of each 5- or 7-year withdrawal period and provided the options to continue, surrender or annuitize the contract.
- If the policyholder 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. Withdrawal charges and an interest adjustment will be reinstated. The annual interest rate credited to your account will be based on then-current rates.
Waiver of Withdrawal Charges
Long-Term Care Waiver
If the owner of the policy is hospitalized or confined to a nursing home or long-term care facility at the recommendation of a physician for medically necessary reasons for at least 30 consecutive days, no withdrawal charges will be applied to any request for cash from annuity value made during confinement or within 91 days of the last day of confinement.
Unemployment
All withdrawal charges are waived on any partial or full withdrawal upon receiving due proof that the policy owner has received unemployment benefits for at least 60 days.
If the policy owner is receiving unemployment benefits on the policy’s date of issue, he/she will not qualify for this waiver.
Disability
All withdrawal charges and Market Value Adjustments are waived on any partial or full withdrawal upon receiving due proof that the policy owner has become totally disabled for more than 90 continuous days.
This waiver will not apply once the policy owner has attained the age of 65.
Terminal Illness
All withdrawal charges are waived on any partial or full withdrawal upon receiving due proof that the policy owner is diagnosed as having a terminal illness.
Death of a Spouse or Minor Dependent
United of Omaha Life Insurance Company will waive withdrawal charges for 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 percentage is 25 percent.
The withdrawal must be made within six months of the spouse’s or minor dependent’s death.
This option may be exercised only once for a spouse and once for each minor dependent.
No more than 50 percent of the accumulation value per policy year, as of the date of the first withdrawal, may be taken without incurring a charge.
Damage to Your Residence
If you incur physical damage of $50,000 or more to your primary residence, United of Omaha will waive withdrawal charges.
The loss must be documented by submitting a certified copy of a licensed appraiser’s report that states the amount of the damage.
The certified copy must be submitted within 91 days of the date of the appraiser’s report.
Transplant Surgery
Withdrawal charges will be waived 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 Interest Rate 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 Interest Rate Guarantee Period, the market value adjustment will usually be upward.
There will be no interest adjustment to the cash surrender value if you surrender, renew or choose a payout option during the renewal period, or withdraw money under the 10 percent withdrawal amount provision.
A market value adjustment is calculated as follows:
- The guaranteed Interest Rate for the current Interest Rate Guarantee Period; minus
- the initial guaranteed Interest Rate being credited to Purchase Payments for new contracts of this form excluding any Interest Rate increase that:
- (1) applies for the first contract year only; or
- (2) is added by Rider; minus
- 0.0025; multiplied by
- the number of months left before the end of the then-current Interest Rate Guarantee Period;
- Divided by 12; plus 1.
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.
