Product Combines Whole Life With Funeral Services Shopping Tool

By Allison Bell

News April 15, 2019 at 07:51 PM

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A Mutual Of Omaha unit has developed an end-of-life planning package that combines whole life insurance with access to a funeral planning service.

The funeral planning service provides access to data on local funeral services providers' prices, and help from a concierge service that can help with negotiating funeral prices, according to Mutual of Omaha.

The Mutual of Omaha unit, United of Omaha Life Insurance Company will provide up to $25,000 in coverage on a guaranteed-issue basis, using an underwriting process that includes no medical questions.

The new Guaranteed Plus package will give purchasers access to the funeral planning services, from Everest Funeral Concierge, through a rider that comes with the policy automatically, at no additional cost.

Mutual of Omaha expects to sell the policy mainly through the web and over the phone.

In addition to the funeral services cost estimation tools and cost negotiation services, the package includes access to online tools consumers can use to prepare wills, health care directives and power-of-attorney documents.

— Read Funeralwise.com Aims New Tool at Final Expense Planners, on ThinkAdvisor.

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