Mutual of Omaha
4.80%
7 Year Term
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company Information
Company Name
Mutual of Omaha
product Name
Ultra Secure Plus 7
Description
Mutual of Omaha Insurance Company was founded in 1909. The company offers individual health and accident insurance, individual and group life insurance, annuities, and retirement plans.
am best rating
A+ Superior (2nd of 13 ratings)
Product Type
MYGA
Product description
Fixed annuities are for conservative investors who want safety, security, and guarantees.
You will preserve your principal and earn a fixed rate of return.
You might hear fixed annuities also called CD-like annuities or multiple-year guarantee annuities (MYGA's).
If you are sensitive to loss and don't want to lose a penny, a fixed annuity might be a good fit for some of your savings.
Read our educational articles on fixed annuities to learn more.
Guaranteed Rate Lock Period:
The rate is locked for 60 days from the date of application. If the funds are received after that period the rate might be subject to change and will be the rate in effect at that time.
term
7 yrs
minimum investment
$ 5,000
maximum investment
$ 1,000,000
maximum age
89
withdrawal allowance
Each contract year there is an opportunity to withdraw up to 10% of the account value penalty free.
what we like
- No surprises because you know what you will earn
- Lower agent commission
- Percentage of Balance Withdrawals
- Above average ratings
- 7 Year Term
what we don’t like
- Higher Rates Available
- Not RMD Friendly
- Possible market value adjustment on withdrawals
- or -
Guaranteed Returns
Choose an investment amount and we’ll show you how much you can earn.
| YEAR | RATE | EARNINGS | CUMULATIVE EARNINGS | BALANCE |
|---|---|---|---|---|
| 1 | 4.65% | $ ? | $ ? | $ ? |
| 2 | 4.65% | $ ? | $ ? | $ ? |
| 3 | 4.65% | $ ? | $ ? | $ ? |
| 4 | 4.65% | $ ? | $ ? | $ ? |
| 5 | 4.65% | $ ? | $ ? | $ ? |
| 6 | 4.65% | $ ? | $ ? | $ ? |
| 7 | 4.65% | $ ? | $ ? | $ ? |
| Total | $ ? | $ ? | $ ? | |
Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
other Information
| moody’s rating | A1 Good (5th of 21 ratings) |
|---|---|
| S&P rating | AA- Very Strong (4th of 21 ratings) |
| phone number | (800) 931-9210 |
| Product brochure |  |
| agent commission | We are paid from the insurance company general fund. It is not deducted from your account value. 100% of your money is working for you from day one. We could earn a higher commission based on sales volume and taking a more active role in the application process. |
| LOGIN FOR | Mutualofomaha.com |
| Rate Effective Date | April 1st 2024 |
| premium Type | Single Premium Annuity |
|---|---|
| account Type | Personal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b). |
| Not available in | MT, NY, PR, VI |
| options at maturity | At the end of your contract term, you have 30 calendar days to choose from the following options. 1. Elect a payout option. |
| death benefit provision | If you pass away before the end of your annuity contract, your beneficiaries will receive the accumulated policy value. This value will include all interest you have earned and be passed without any charges or fees. |
| taxes | Annuities typically grow tax-deferred. If you withdrawal money that has never been taxed, withdrawals are 100% taxable. Non-qualified withdrawals have been taxed already, so only interest is taxed. This is called an exclusion ratio. Interest would be taxed, but the principal would not. Please work with a qualified specialist. |
| surrender schedule | 6%, 6%, 6%, 6%, 5%, 4%, 3% |
|---|---|
| free-look period | 30 Days |
| RMD | No |
| market value adjustment | Yes |
