Mutual of Omaha Cancer, Heart Attack and Stroke Insurance
- Mutual of Omaha cancer, heart attack and stroke insurance covers policyholders diagnosed with these conditions. Discover the benefits of these specialty plans.
A severe illness, such as a stroke, heart attack or cancer, can create a financial strain on a family that isn't prepared for the resulting costs. Mutual of Omaha’s cancer, heart attack and stroke insurance provides the financial resources policyholders may need after a diagnosis, so they can satisfy their day-to-day obligations and focus on treatment and recovery. Designed to supplement traditional health insurance, these specialty policies may be ideal for individuals who want to safeguard their family’s financial future in case of serious illness. Here's what else you should know.
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What Coverage Options Are Available Through Mutual of Omaha’s Cancer, Heart Attack and Stroke Insurance?
Mutual of Omaha sells separate policies that provide cancer coverage and heart attack and stroke insurance to individuals, offering medical and non-medical benefits to policyholders between the ages of 18 and 89. Lifetime coverage is available, or purchasers can opt for 10-, 15-, 20- or 30-year term plans. The company also offers family or individual-plus-child policies, and the approval process involves only limited underwriting. Policyholders who wish to enhance their coverage may do so by adding on optional riders at the time of purchase.
What Benefits Does Mutual of Omaha Cancer, Heart Attack and Stroke Insurance Offer?
Mutual of Omaha’s cancer, heart attack and stroke insurance policies offer various medical and non-medical benefits that pay out after the insured is diagnosed with a covered illness.
Depending on which policy you purchase, medical benefits may include coverage of the following treatment-related expenses:
- Radiation therapy
- Inpatient stays
- Ambulatory transportation
- Hospice care
- Medications administered during an inpatient hospital stay
- Follow-up visits to physicians and/or surgeons
Coverage, which typically becomes effective after the first premium payment, may also include preventative screenings and treatment for diseases either caused or aggravated by the covered illnesses and their treatment. In some states, a 30-day probationary waiting period is required, and Mutual of Omaha doesn't provide coverage for illnesses diagnosed during that time.
Cancer, heart attack and stroke policies pay a lump sum if a policyholder has been diagnosed with a covered illness, and benefits range from $10,000 to $100,000. This money may be used to replace lost earnings if the policyholder misses work due to illness or treatment, or it may be allocated for essentials such as:
- Health insurance deductibles and other healthcare-related out-of-pocket expenses
- Mortgage and utility payments and other household expenses
- Travel costs for treatment
What’s Considered a Covered Illness Under Mutual of Omaha’s Cancer, Heart Attack and Stroke Policies?
Mutual of Omaha’s cancer coverage pays full benefits to individuals who have been diagnosed with internal cancers or malignant melanomas. Heart attack and stroke policies pay full benefits to individuals who have experienced a heart attack or stroke and offer 25% coverage to policyholders who are undergoing a coronary artery bypass or coronary angioplasty surgery.
Are Mutual of Omaha Cancer, Heart Attack and Stroke Policies Renewable?
Yes. Both types of plans are renewable throughout the life of the policy.
Who May Benefit From Mutual of Omaha Cancer or Heart Attack and Stroke Insurance?
Mutual of Omaha’s cancer, heart attack and stroke insurance can offer peace of mind to families who would suffer financial strain if a breadwinner is diagnosed with one of these life-threatening illnesses. Policies may also be ideal for retirees living on a fixed income, individuals who have high-deductible health insurance plans or small business owners whose livelihood may be at risk if they’re ill and unable to work.
Can You Qualify for Cancer, Heart Attack and Stroke Insurance After You’ve Been Diagnosed With These Illnesses?
No. These plans are only sold to people who haven’t been diagnosed with these illnesses. If you’ve already received a diagnosis, it’s too late to get coverage.
Does Mutual of Omaha Offer Insurance Coverage for Other Illnesses?
Mutual of Omaha also offers critical illness insurance to individuals between ages 18 and 64 and has group plans for employers looking to provide a comprehensive workplace benefits package. Both group and individual plans provide medical and non-medical benefits to policyholders who have been diagnosed with a serious health condition, such as:
- Kidney disease
- Alzheimer’s disease
Mutual of Omaha’s critical illness insurance also covers policyholders who require a major organ transplant. Additionally, heart attack, stroke and cancer are considered covered conditions, so it isn’t necessary for individuals to purchase separate policies to insure themselves for these illnesses.
Where Can You Get a Quote for Mutual of Omaha Cancer, Heart Attack and Stroke, or Critical Illness Plans?
Policyholders can request a quote online by visiting Mutual of Omaha's website or by calling (800) 621-3917. Individuals who would prefer to work with a licensed Mutual of Omaha insurance agent can request information by filling out a brief online form.