Com R.

We had two term life policies with Mutual of Omaha (Colorado Springs Agent) for many years. After meeting with him on a review of our policies he recommended we convert them to what he represented was a whole life policy with long term care, with a fixed premium and no expiration. After several months we discovered our policies were Universal Life Policies with a critical care rider, which could expire at age 85. Additionally the premiums were not guaranteed. This was not what we requested nor what was represented.

Due to the misrepresentations and minimizing of the issues, we contacted and met with our agent. He initially argued but then said he understood and acknowledged the policy was not a whole life and long term care that we had requested. He said these were products and he did not know everything about them. He said he understood our concerns and forwarded our complaint on to Mutual of Omaha main office. Their response was initially extremely poor. We did not receive any acknowledgement of the complaint, there was no investigation done and no one called us. Months went by as we tried to get answers. Mutual promised return calls which we never received. Finally after persistence and discussions with numerous people, the entire amount of premiums paid, totaling several thousand dollars were refunded and one term life insurance policy was reinstated. This process took over a year!

After loosing all confidence and trust in Mutual of Omaha, we pursued and obtained another term life policy with another insurance company. We then began the process to cancel the existing term life policy with Mutual of Omaha. This was also problematic. We were told different things by different representatives about the process to cancel and to obtain a refund of the month premium. This took two months when initially they said ten days.

We write this review in order to hopefully help others from getting into the same situation as we experienced. We would suggest anyone purchasing a policy, especially Mutual of Omaha's Universal Life with a critical care writer, have it reviewed by another insurance agent or attorney. We would never recommend Mutual of Omaha.