How to name beneficiaries and fund a trust at Mutual of Omaha
Covers 15 insurance accounts — beneficiaries can be managed online
Customer Service
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175
Policyowner Services (beneficiary designations, ownership transfers, POA and guardianship documents)
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175 (fax ATTN: Policyowner Services / IPS, 402-997-1906 for life and annuity; ATTN: Individual Service, 402-997-1869 for health coverage)
Claims Customer Service (individual life)
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175. Employer group life: United of Omaha Life Insurance Company, Group Life Claims, Mutual of Omaha Plaza, Omaha, NE 68175-0001 (fax 402-997-1835, email submitgrplife@mutualofomaha.com)
Beneficiary designations are the foundation of estate planning for Mutual of Omaha policies. Unlike bank accounts, insurance products cannot be retitled into a trust. Instead, the beneficiary designation itself determines who receives the proceeds and how quickly they're paid. Naming a trust as beneficiary is an option when more control over distributions is needed.
With 15 product types, Mutual of Omaha offers a range of transfer options. Some policies support beneficiary designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- A trust, charity, or funeral home CANNOT be named online or by phone. Mutual of Omaha routes every nonindividual beneficiary to the mailed paper form
- Shares must be given as percentages. The form states outright: do not use dollar amounts
- Forms with corrections or erasures are rejected, and Mutual of Omaha reserves the right to declare an incomplete or unsatisfactorily completed form void and of no effect
- A separate form is required for each policy AND each policy rider being changed
- If the death proceeds are to be paid other than in a single sum, the standard form cannot be used — United of Omaha must be contacted for instructions
- A previously named irrevocable beneficiary must sign the change. Checking the "Irrevocable Primary Beneficiary" box endorses the policy so that no future change (including a later beneficiary change) can be made without that beneficiary's consent
- Massachusetts residents: state law requires a disinterested adult who is not a party to the policy to witness the beneficiary change, and the form carries a dedicated Massachusetts witness line
- A change signed under a power of attorney requires a copy of the POA, the signature line "Attorney-in-fact for (owner's name)", and legal review by Mutual of Omaha that can take up to 10 business days. Mutual of Omaha states the POA's wording must specifically grant the right to make beneficiary changes
- Absent stated percentages, proceeds are shared equally among the primary beneficiaries who survive the insured, then among the contingent beneficiaries. "Child" and "children" include legally adopted children
- Changing a beneficiary does not change policy ownership, and any beneficiary's interest remains subject to a collateral assignee of record
- Any outstanding policy loan and its interest is deducted from the death benefit paid to the beneficiary
- No change is binding until Mutual of Omaha receives and records it at its home office
Sources
Data sourced from Mutual of Omaha primary sources (15 pages reviewed). How we research.
Download these Mutual of Omaha instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Mutual of Omaha primary sources. Bring it to the branch or keep it beside the phone.
Customer Service
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175
Policyowner Services (beneficiary designations, ownership transfers, POA and guardianship documents)
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175 (fax ATTN: Policyowner Services / IPS, 402-997-1906 for life and annuity; ATTN: Individual Service, 402-997-1869 for health coverage)
Claims Customer Service (individual life)
Mutual of Omaha, 3300 Mutual of Omaha Plaza, Omaha, NE 68175. Employer group life: United of Omaha Life Insurance Company, Group Life Claims, Mutual of Omaha Plaza, Omaha, NE 68175-0001 (fax 402-997-1835, email submitgrplife@mutualofomaha.com)
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