United of Omaha’s Fit Program Can Save You Thousands
On our blog, we always talk about how we can save people with health impairments money on their life insurance coverage. We know which life insurance companies are most flexible when underwriting certain health issues. We also know which companies allow credits that will improve your final health rating which is important in determining your premium. Through United of Omaha’s Fit Program, you can improve your health rating by two table credit ratings if you have a health impairment but are otherwise healthy and exhibit positive lifestyle habits. This could lead to thousands of dollars in savings over the life of your policy. Here’s how it works.
What are the Program Details – The idea behind the Fit program is that those who have positive medical and lifestyle factors generally tend to have better mortality. So on cases that might be moderately or mildly rated, United of Omaha will offer credits to those who have positive medical and lifestyle habits. The program is designed to give applicants who are initially rated a “Table 4” or less an opportunity to improve their health rating by a maximum of two table credits up to a “Standard” rating (click here to learn how table ratings work). For instance, let’s say you go through the initial underwriting process and you are given a “Table 2” rating by United of Omaha. The underwriters will then look at several other health and lifestyle factors to decide if you qualify for any credits. If you qualify for any available credits, your final health rating will be increased by up to 2 full ratings. So instead of paying premiums at a “Table 2” rate, you would pay premiums at a “Standard” rate, leading to substantially lower premiums.
How do You Qualify for Credits? – In order to qualify for any table credits you must exhibit positive health and lifestyle habits. Here is what they look for:
Medical
- Great family history – no deaths from any disease prior to age 70
- Cholesterol/HDL ratio <5.0
- A1c test <5.7 (test blood sugar level)
- Serum albumin >4.2 ages 61-75 (test liver and kidney function)
- Negative cardiac testing: GXT, non-imaged or imaged (stress echo, perfusion study),echocardiogram, EBCT or angiography (test heart health)
- GXT exercise performance >10 METS (treadmill test or exercise test)
- Optimal blood pressure control (treated or untreated) of 130/80 or better
- Preferred or better build, ages 18-60, Standard Plus or better build, ages 61-75
Lifestyle
- Regular preventative medical care and compliant follow-up
- Lifetime nonsmoker
- Income in excess of $100,000, or net worth in excess of $1,000,000, or a college degree
- Preferred or better driving record
If you exhibit any 3 of the above medical or lifestyle characteristics, you will be eligible for 1 table credit. If you exhibit any 5 of the above medical or lifestyle characteristics, you will be eligible for 2 table credits.
How Much Can You Save? – Here is an example of the savings for an applicant who qualifies for 2 credits, taking them from “Table 2” to “Standard”. Premiums are for $500,000 of coverage for 20 years for applicants age 40.
| Male | Annual Premiums | Female | Annual Premiums |
|---|---|---|---|
| Standard Rating | $797.50 | Standard Rating | $662.50 |
| Table 2 Rating | $1,167.50 | Table 2 Rating | $962.50 |
| 20 Year Savings | $7,400 | 20 Year Savings | $6,000.00 |
As you can see, simply being able to qualify for two credits can save the policyholder thousands over the life of the policy.
Are There Any Restrictions? The Fit Program is available for all fully underwritten term and universal life products offered by United of Omaha. The minimum face amount is $250,000 and the maximum face amount is $2,000,000 ($4,000,000 for survivorship guaranteed universal life). Only nontobacco users and those ages 18 to 75 can qualify. The program does not apply to any flat extra ratings (read more about flat extra ratings here) or those who have ratable substance abuse histories, cardiovascular disease prior to age 50, stroke or ratable cancers.
About United of Omaha: United of Omaha is an affiliate of Mutual of Omaha, one of the moist respected names in the insurance industry. United of Omaha has been around since 1926 and is A rated by A.M. Best. The company offers a wide range of life insurance and annuity products.
Conclusion – In many cases, people with major health issues still live otherwise healthy lives. The medical and lifestyle qualifications that the Fit Program requires for credits are very reasonable and most applicants should qualify for at least one credit and most likely two. The Fit Program by United of Omaha is an excellent way to potentially lower your premiums, making them more affordable. This is just one example of how we try to save our clients’ money. Do you have a health issue but are otherwise living a healthy lifestyle? Let’s see of the Fit Program is a good fit for you. Give us a call at (888) 687-9444 or email us at info@archstoneagency.com if you have any questions.
About Us
Archstone Insurance Services, LLC is an independent agency that shops over 40 of the top life insurance carriers to provide huge savings on life insurance coverage for our clients. We are happy to answer any questions you might have about any of the insurance products we offer, your planning needs or your existing coverage. Feel free to call us directly at (888) 687-9444 or email us at info@archstoneagency.com. You can also visit our website at www.archstoneinsurance.com.
