The benefits of life insurance with Mutual of Omaha vary based on the type of policy chosen, as noted on Mutual of Omaha.com. The company offers both term and whole life insurance plans. Term life insurance provide life insurance for a specific period of one's life, making it ideal for families who might experience hardships if a death occurred while the family was still paying on a mortgage or paying for children's educations. By contrast, whole life is a lifetime policy that builds cash value and can provide several benefits to families who lose a loved one covered by the policy.
Term life insurance from Mutual of Omaha provides affordable coverage during a specified period, notes Mutual of Omaha.com. The payment amounts for the coverage never change and are locked in during the guaranteed period. Families can plan on term life insurance for paying off personal debts or creating an emergency fund after the death of a loved one.
Whole life insurance plans from Mutual of Omaha build cash value during the term of the policy and provide lifetime protection. Policyholders can borrow against the cash value of the policy if desired with most plans. This type of permanent insurance coverage provides ongoing income for a family after the death of the insured or can be used to supplement retirement income or pay for final expenses.