History of the Mutual of Omaha Life Insurance Company in Canada
Mutual of Omaha is an insurance and financial services company that, like the name suggests, is based in the city of Omaha, Nebraska. It is a Fortune 500 company; to be a Fortune 500 company is to be one of the 500 largest United States public corporations when taking gross revenue after adjustments into account, as ranked by Fortune Magazine. Mutual of Omaha was originally known as Mutual Benefit Health and Accident Association way back when it was founded in 1909. Mutual of Omaha used to offer insurance products to Canadian consumers, but in 1998 the company sold its Canadian insurance division to RBC Insurance. If you bought life insurance from Mutual of Omaha before 1998, please make a note of this sale; as the Canadian insurance division of Mutual of Omaha does not exist anymore, any policies sold by them in the past are now the responsibility of RBC Insurance.
RBC Insurance Products
Although the Canadian insurance division of Mutual of Omaha may no longer sell policies under that name, its goal of providing consumers with affordable, flexible and high quality insurance products still lives on through RBC Insurance. RBC Insurance offers 3 different types of life insurance products: term life insurance, permanent life insurance and universal life insurance. If you are looking for term life policies with coverage in any amount between $10,000 and $250,000, then check out RBC’s simplified term life insurance. You can get simplified term life insurance policies for either a period of 10 years or 20 years. If $250,000 is not enough coverage, then look into either Term 10 or Term 20 insurance. Term 10 is a 10 year policy, and Term 20 is a 20 year policy. You can purchase anywhere between $250,000 and $10,000,000 in coverage under these policies.
Guaranteed Acceptance Life Insurance From RBC Insurance
If 10 or 20 years isn’t enough, then permanent life insurance may be for you. Permanent life insurance provides coverage for your entire life. People between the ages of 50 and 75 who want to purchase coverage for up to $25,000 should consider RBC Insurance’s guaranteed acceptance life insurance. You don’t have to answer any medical questions or undergo any medical exams to qualify for this policy. Term 100 permanent life insurance is for people between the ages of 18 and 85 who want to purchase more than $50,000 in coverage. With Term 100 insurance, if you reach the age of 100 and are still insured under this policy, you will no longer have to pay any premiums.
Universal life insurance is more than just a standard insurance package where your beneficiaries receive a lump sum after your death – it’s an investment tool. It can be best described as permanent life insurance plus an investment portfolio. When you pay a premium for your universal life insurance, part of the amount actually pays for the insurance policy. The other part is deposited into an investment account. The accumulated money within that account can grow, and it remains tax-free as long as it stays in that account.