United of Omaha - Life Protection Advantage IUL Product Enhancement


Mutual of Omaha is pleased to announce that beginning September 24, 2021, they will be extending Life Protection Advantage IUL's long-term no-lapse protection guarantee from age 85 to age 90. And, they are providing this additional 5-year guarantee at no additional cost!

This exciting new enhancement will help make Life Protection Advantage even more competitive in the industry.

In addition to providing protection that is guaranteed to age 90 at competitive premiums, Life Protection Advantage also offers:

  • Competitive Protection Beyond Age 90:  While the average 50-year-old in the U.S. has a life expectancy in the mid-to-late 70s, some of your clients may live past age 90. That's why it's extremely important to have a product that is also strong on the non-guaranteed side. When paying the 'guarantee-to-90' premium, you will find that Life Protection Advantage's projected coverage will often outlast our competitors' policies by 5-10 years, even when illustrated at conservative rates. View the updated competitive comparison.

  • A Guaranteed Refund Option (GRO) Rider:  Unlike many other IULs, qualifying Life Protection Advantage IUL policies* come with a premium refund option. If your clients no longer need their life insurance coverage, the GRO feature offers seven 60-day windows in which they can surrender their policy and receive their premiums back. And don't forget, Mutual of Omaha recently increased the maximum GRO Rider refund amount to 80% of the specified death benefit.

  • A Terminal and Chronic Illness Rider:  This accelerated benefit feature is included with all policies at no additional cost and with no additional underwriting. And, if your clients prefer an LTC Rider, they can apply to have their Chronic Illness Rider replaced with an LTC Rider at an additional cost.

Transition Rules

Applications signed on or after September 24th will automatically receive the new guarantee to age 90, as long as the long-term no-lapse guarantee premium is paid. Applications signed on or after September 24th must also be accompanied by an illustration dated on or after September 24th to ensure the illustration reflects the new guarantee period.

Applications signed on or after September 1st that are pending in house will have the option to obtain the new guarantee period upon request. A new illustration reflecting the extended guarantee period will need to be received in the home office by October 15th.


Whether your clients are looking for long-term protection, strong accumulation values or a simplified issue solution, Mutual of Omaha has an IUL product to meet your clients' diverse needs.

Give BUA a call at 1-800-792-6795 if you have any questions.

*For Life Protection Advantage, the GRO rider is not available for clients over age 60 (regardless of risk class), for substandard or tobacco cases under age 50 or for substandard tables 5-16 at ages 50 and above. In order to remain eligible for the rider, the client must continue to make their required premium payments as defined in the rider. Refund is limited to 80% of the policy's lowest specified amount and is reduced by any previous withdrawals and outstanding loans.