Mutual of Omaha Insurance Company's (Mutual of Omaha) Disability Income Choice Portfolio® has two policy options for short-term disability insurance – Accident Only Disability and Short-Term Disability.
Accident Only Disability
This policy will pay you a monthly benefit if you are unable to work due to a disabling accident. It does not cover disability due to sickness. The cost of this policy is generally lower than the cost of policies covering both accident and sickness-related disabilities.
You can tailor this policy by selecting the elimination period, benefit period and optional riders that would best meet your needs.
| Monthly benefit | Based on a portion of your current income. Maximum monthly base benefit is $5,000. |
| Elimination period* | 0, 7, 14, 30, 60 or 90 days |
| Benefit period* | 3, 6, 12 or 24 months |
| Issue ages | 18 – 61 |
| Premium** | Premium rate is level until coverage ends at age 67 |
Built-in Benefit Highlights
Some of the benefits included in the base policy are:
- Total Disability Income Benefit
- If an injury prevents you from performing the duties of your regular job, and you aren’t gainfully employed in another occupation, we will pay you a monthly benefit once the elimination period has been met.
- Partial Disability Benefit
- If an injury prevents you from performing the duties of your regular job or more than 50 percent of your normal day, we will pay you 50 percent of the total disability monthly benefit once the elimination period has been met. Payable for up to six months.
- Guaranteed Renewable
- We cannot cancel this policy, up to age 67, as long as you pay the premium when due.
- Waiver of Premium
- Premium is waived for the coverage and optional riders after you are disabled for 90 days. We will also refund any premiums you paid during this 90-day period.
- Workers’ Compensation
- If you are disabled by an injury or sickness that is covered by state or federal workers’ compensation, employer’s liability or occupational disease law we will pay you 50 percent of the short-term disability benefits for which you are eligible.
- Survivor Benefit
- If you die while you are disabled, we will pay your beneficiaries a lump-sum amount equal to three times the total disability monthly benefit, payable at the time of your death.
Optional Benefits (additional premium applies)
- Accident Hospital Confinement Indemnity Benefits Rider (Form 0LL9M)
- Pays you up to $500 for each day you’re confined to a hospital due to an accident. The benefit doubles for days of confinement in intensive care. Benefits are payable for a maximum of 45 days for any period of confinement.
- Accident Medical Expense Benefits Rider (Form 0ML1M-41)
- Provides you reimbursement for medical-related expenses incurred per accident. Maximum benefit amounts per accident are $1,000, $2,000, $3,000 and $5,000. Covers services and supplies received within 26 weeks from the date of the covered injury.
Mutual of Omaha’s Accident Only Disability insurance may be the right policy for you. Be sure to work with a licensed insurance agent who can help you review your needs and choose the best benefits to help protect your income.
* Elimination and/or benefit periods may vary by state.
** Premiums will remain level even if you file a claim. The only way your premium would be changed is if you change your policy features or premiums are raised collectively for all people with the same Mutual of Omaha policy.
Features and riders may not be available with all policies or approved in all states.
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