Mutual of Omaha's Core Business

[video: text appears ‘Get to Know Mutual of Omaha – How Our Company Works”]

The various types of insurance and how they work can seem like a complicated process. That’s why we’d like to answer a few key questions about how our company functions.

[video: text appears “premium” and “claim” and then two question marks comes between them in text blocks in the center of the screen]

We’ve all heard about premiums and claims, but how do they work together within the company?

[video: text appears “premium is the amount an individual or business pays for an insurance policy” and next to the text is a graphic with a piece of paper with coins next to it]

A premium is the amount an individual or business pays for an insurance policy.

[video: text appears “claim is the amount paid out to the customer when certain conditions are met” and next to the text is a graphic with several pieces of paper]

And a claim is the amount paid out to the customer when certain conditions are met.

[video: a graphic with a calendar appears with text underneath “Separated by many years”

Premium and claim payments are generally separated by many years,

[video: a graphic with a piece of paper with a magnifying glass is added with text underneath “Estimate of future claims”]

we make an estimate of future claims based on what we know today.

[video: a graphic with a piggy bank is added with text underneath “Set money aside”]

We set money aside, or in a reserve,

[video: a graphic with hands shaking is added with text underneath “Fulfill promises to our customers”]

to fulfill the promises we’ve made to our customers – whether these claims come in tomorrow or in 30 years.

[video: a graphic with a piece of paper with coins is on the left of the screen with three graphics added to the left – one is of bandages and text of “Health claims”, another is of a tooth and magnifying glass with text of “Dental claims” and a third is an eye chart with text “Vision claims”]

We price our products to ensure an appropriate amount of premium goes directly towards paying customer claims.

[video: graphic with a house and clouds appears]

In a sense, Mutual of Omaha runs a lot like you might run your household!

[video: graphic of wallet with the text “Income” appears]

You make income,

[video: graphic of bills with the text “Expenses & taxes” is added]

a good chunk of that goes to expenses and taxes,

[video: graphic of a piggy bank and a coin along with the text “Investments” is added to the right)

you put some away for a rainy day, and if you’re able, you might make some wise investments to plan for your future.

[video: graphic of binoculars appears]

You look at the long-term and so do we;

[video: graphic of a man and two women appears]

because Mutual of Omaha is owned by its policy holders.

[video: graphic with Mutual of Omaha logo appears]

All this helps our customers protect what they care about and achieve their financial goals.