Long-term care insurance (LTC) is often overlooked—until it’s needed. Mutual of Omaha stands out as one of the few providers still offering standalone LTC insurance, a rarity in today’s market dominated by hybrid policies. With flexible age limits, solid customer satisfaction ratings, and attractive discounts for couples, this insurer is a top choice for those looking to secure their future care.
But is it the right fit for you? Let’s break down its pros, cons, pricing, and alternatives to help you make an informed decision.
✅ Mutual of Omaha Long-Term Care Insurance: Pros and Cons
Pros
✔ Cash Indemnity Benefits – Unlike reimbursement policies, Mutual of Omaha pays out benefits regardless of actual expenses, so no tedious receipt tracking.
✔ Stay at Home Longer – A waiver of the elimination period for home health care allows you to receive benefits sooner without waiting months for approval.
✔ Discounts Galore – Healthy individuals can snag a 15% discount, and couples opting for joint coverage get another 15% off.
✔ High Age Limit – New applicants can enroll up to age 79, while many competitors cap eligibility at 69 or 75.
Cons
❌ Premiums Can Increase – LTC insurance isn’t immune to rate hikes, and policyholders may face higher premiums over time.
❌ No Hybrid Policies – Unlike New York Life or MassMutual, Mutual of Omaha doesn’t bundle LTC with life insurance.
📌 Mutual of Omaha’s Long-Term Care Insurance Plans
Mutual of Omaha offers two standalone LTC policies:
1. MutualCare Secure Solution – Traditional yet Comprehensive
✔ Covers home health care, assisted living, and medical equipment/home modifications (up to twice the monthly benefit).
✔ Benefits range from $1,500 to $10,000 per month, available for 2–5 years.
✔ Inflation Protection: Choose from 3%, 4%, or 5% compounding over your lifetime or a 20-year period.
✔ Respite Care: Covers temporary caregivers to give family members a break once per year.
✔ Waiver of Premium: Stop paying premiums once you start receiving benefits.
🔹 Unique Riders:
- Shared Care Benefits – If you deplete your coverage, you can access your spouse’s unused benefits.
- Return of Premium at Death – Up to 3x the maximum monthly benefit can be paid out to beneficiaries.
2. MutualCare Custom Solution – More Flexibility, Less Waiting
✔ Choose a shorter elimination period (30, 60 days, or immediate coverage).
✔ Benefits pulled from a larger pool (up to $500,000 total).
✔ Same riders as Secure Solution, plus:
- Joint Waiver of Premium – If one spouse starts receiving benefits, both stop paying premiums.
- Survivorship Benefit – After one spouse’s passing, the other never pays premiums again.
💰 Mutual of Omaha Long-Term Care Insurance Rates
Rates vary based on age, health, location, and benefit amount. Here’s a sample cost for a 60-year-old in New York:
| Monthly Benefit | Female Premium | Male Premium |
|---|---|---|
| $4,000 | $362 | $212 |
| $5,000 | $452 | $266 |
| $6,000 | $542 | $319 |
📌 Takeaway: Women typically pay more for LTC insurance due to longer life expectancy.
⭐ Mutual of Omaha’s Customer Satisfaction and Financial Strength
- J.D. Power Rating: Above average in life insurance satisfaction.
- Better Business Bureau (BBB): A+ rating.
- National Association of Insurance Commissioners (NAIC): Half the average complaint volume of similar insurers.
- A.M. Best: A+ (Superior) for financial strength—so it’s well-equipped to pay out claims when needed.
📢 Customer Support Drawbacks: No online chat, and no weekend phone support.
🔄 How Does Mutual of Omaha Compare to Competitors?
| Feature | Mutual of Omaha | New York Life | MassMutual |
|---|---|---|---|
| Age Eligibility | 30 – 79 | Not disclosed | 35 – 69 |
| Couples Discount | Up to 15% | Up to 25% | Available |
| Good Health Discount | Yes (15%) | No | No |
| Standalone or Hybrid? | Standalone only | Standalone + Hybrid | Hybrid only |
| NAIC Complaint Index | Low | Low | Low |
🆚 Mutual of Omaha vs. New York Life
- Mutual of Omaha: Better for affordability and standalone policies.
- New York Life: Offers hybrid policies, a 3-year rate guarantee, and up to 25% in couples discounts.
🆚 Mutual of Omaha vs. MassMutual
- Mutual of Omaha: Standalone policies with higher flexibility and age limits.
- MassMutual: Hybrid whole-life policies—great if you want death benefits too.
🛒 How to Buy Mutual of Omaha Long-Term Care Insurance
- Online Quotes: Available for Secure Solution, but not Custom Solution.
- Agent Required: You must speak with an agent to finalize your purchase.
- Contact Info: Call 800-775-6000 (M-F, business hours).
🤔 Is Mutual of Omaha Long-Term Care Insurance Right for You?
✅ Yes, if you:
✔ Want a cash benefit without submitting receipts.
✔ Are a couple looking for discounts and shared benefits.
✔ Prefer standalone LTC insurance without life insurance bundling.
✔ Need coverage up to age 79.
❌ No, if you:
- Want a hybrid life insurance + LTC policy.
- Need an insurer with weekend support.
🧐 Frequently Asked Questions
What does long-term care insurance cover?
It helps pay for assisted living, home health aides, nursing homes, and adult daycare for those who can’t perform at least two of six daily living activities (bathing, dressing, eating, toileting, transferring, and continence).
How much does LTC insurance cost?
According to the American Association for Long-Term Care Insurance, the average annual premium is:
- $900 for a 55-year-old male with $165,000 in benefits.
- $1,500 for a 55-year-old female.
- $2,080 for a 55-year-old couple.
What is the Long-Term Care Partnership Program?
A state-federal initiative that protects assets if policyholders exhaust their benefits but need Medicaid. For every dollar spent on an LTC policy, a dollar of assets is shielded from Medicaid’s asset limits.
📢 Final Thoughts
Mutual of Omaha remains one of the strongest standalone LTC insurance providers in 2025. With its cash benefit structure, high age eligibility, and solid financial ratings, it’s a great choice for couples and individuals who want a flexible long-term care plan.
However, if you’re looking for a hybrid life + LTC policy, New York Life or MassMutual may be better fits. Either way, locking in LTC insurance now is a smart financial move—because the cost of waiting could be sky-high. 🚀