Mutual of Omaha Long-Term Care Insurance: Products, Premiums, and Rate Stability in 2026

Most of the household names in long-term care insurance — Genworth, John Hancock, Transamerica, MetLife, Prudential — have stopped writing new policies. Mutual of Omaha is one of the few traditional LTC carriers still actively accepting applications. If you're comparing traditional LTC insurance carriers, here's what an independent review of Mutual of Omaha looks like.

Why the traditional LTC market looks like it does in 2026

The traditional LTC insurance industry experienced a sustained actuarial crisis beginning in the 2010s. Carriers had priced policies in the 1990s based on assumptions that turned out to be wrong: policyholders lived longer, care costs grew faster, and healthy people didn't cancel their policies at the rates the models assumed. The result was a wave of exits: MetLife (2010), Prudential (2012), Unum (2012), Aetna (2016), MassMutual (2018), Genworth (2019 for new policies), and others.

Mutual of Omaha's response to this environment was different. Rather than exiting the market entirely, the company tightened underwriting standards, repriced its in-force blocks through state-approved rate filings, and continued issuing new policies — but with benefit designs and pricing assumptions intended to be more actuarially sustainable than the legacy products that created the industry's problems.

That decision to stay in the market is one reason Mutual of Omaha's rate stability record compares favorably to the exited carriers: the company has continued bringing in new premium revenue from new policyholders, which provides some actuarial balance that a closed-block carrier cannot achieve.

Mutual of Omaha's MutualCare product line

Mutual of Omaha offers two primary individual long-term care insurance products under the MutualCare brand:

MutualCare Secure Solution

The Secure Solution is the simpler, more standardized of the two products. It provides a defined monthly benefit for qualifying care across home care, assisted living, and nursing home settings. Key parameters:

• Monthly benefit amounts from approximately $1,500 to $9,000/month (benefit level and pool size selected at purchase)
• Benefit period options: 2, 3, 4, or 5 years
• Inflation protection: optional compound inflation rider
• Shared care rider available for couples (couples can share a combined benefit pool)
• Elimination period: typically 90 days

MutualCare Custom Solution

The Custom Solution offers greater design flexibility, including one feature that distinguishes it from competitors: a compound inflation option adjustable in fractional quarter-percent increments — meaning you can select, say, 3.25% or 4.75% compound rather than being limited to 3% or 5% breakpoints. This matters because the difference between a 3% and 5% compound rider compounds significantly over a 20-year holding period. At a $200/day initial benefit:

• 3% compound over 20 years → approximately $361/day in nominal benefit
• 4% compound over 20 years → approximately $438/day
• 5% compound over 20 years → approximately $531/day

The ability to dial in an intermediate inflation rate can let a buyer optimize the premium-to-benefit tradeoff at their own risk tolerance and budget, rather than choosing between two breakpoints that may not fit their planning assumptions.

The Custom Solution also includes a benefit buy-up feature: policyholders can increase their inflation benefit coverage in any quarter until age 74 (or for 20 years from issue, whichever comes first), regardless of current health status. This is a meaningful option if you're uncertain about how aggressively to inflation-protect at purchase.

Rate stability: how Mutual of Omaha compares to the exited carriers

Rate stability is the primary concern most buyers have about traditional LTC insurance, and for good reason. The history of Genworth, John Hancock, and Transamerica — all of which stopped writing new policies after years of large state-approved rate increases — is a legitimate reason to be cautious about any traditional LTC carrier.

Mutual of Omaha's inforce rate adjustment history is meaningfully different from those carriers, though it is not zero:

The critical distinction: Mutual of Omaha is making modest inforce adjustments on older policy blocks while continuing to write new business. Genworth, John Hancock, and Transamerica are making large inforce adjustments on closed blocks with no new premium income to offset them. The structural dynamics are different.

That said, "better than Genworth" is not the same as "guaranteed stable." Any traditional LTC insurer can file for state-approved rate increases. No carrier can contractually guarantee premiums will never rise — only hybrid life+LTC products, which use a different structure, can offer that guarantee. When comparing traditional carriers, rate stability should be evaluated alongside financial strength, product design fit, and current pricing — not used as a standalone justification for any single carrier.

Who should consider Mutual of Omaha traditional LTC insurance

Mutual of Omaha is worth evaluating when several conditions are true:

• You want traditional LTC insurance structure. Traditional policies provide a pure insurance transfer: you pay premiums, the insurer pays qualifying care costs. There is no cash value or death benefit. The upside is lower cost per dollar of LTC coverage compared to hybrid products; the downside is that premiums are gone if you never claim.
• You're between 55 and 65, in good health. Traditional LTC insurance is health-underwritten; AALTCI data shows denial rates of approximately 47–50% by age 70+. Earlier purchase means both better insurability and lower premiums — a $165,000 benefit pool costs roughly twice as much for a woman at 65 as at 55.
• Your household assets are roughly $500K–$2M. Below $500K, the premium burden may be unsustainable and Medicaid planning deserves priority attention. Above $2M for a single person (or $2.5M+ for a couple), self-funding often makes more financial sense — LTC is an affordable tail risk rather than a catastrophic exposure.
• You don't have substantial existing life insurance or annuity cash value. If you do have large life/annuity cash value, a 1035 exchange into a hybrid life+LTC product may deliver better economics — funding LTC coverage while preserving value rather than paying new ongoing premiums.
• Premium stability is a concern, but you understand the trade-off. Mutual of Omaha's track record is better than the exited carriers. But for buyers who need certainty on future premium levels — particularly those on a fixed or tight budget — a hybrid product with guaranteed premiums may be more appropriate even at higher initial cost.

Mutual of Omaha traditional LTC vs. hybrid LTC: the decision framework

Tax advantages of Mutual of Omaha LTC insurance in 2026

MutualCare policies that qualify under IRC §7702B — which Mutual of Omaha's individual LTC products do — carry the same HIPAA tax advantages as any other qualified traditional LTC insurance policy:

• Benefit exclusion: LTC benefits received are excluded from income up to $430/day ($156,950/year) regardless of actual expenses — the HIPAA per diem limit for 2026.² For indemnity-style policies that pay regardless of actual cost, this limit matters; for reimbursement policies, benefits are generally tax-free regardless.
• Premium deductibility: Eligible LTC insurance premiums are deductible as a medical expense, subject to the 7.5% AGI floor for individuals. HIPAA-capped deductible amounts by age in 2026: under 41 ($500), 41–50 ($930), 51–60 ($1,860), 61–70 ($4,960), over 70 ($6,200).²
• Self-employed above-the-line: Self-employed individuals can deduct eligible LTC premiums above the line (Form 1040, Schedule 1), bypassing the 7.5% AGI floor — a meaningful advantage over itemized deduction.
• C-corporation unlimited deduction: Employer-paid LTC premiums for employees (including employee-shareholders) are a fully deductible business expense under IRC §162. See our business owner LTC guide for the entity structure details.
• Partnership policy: MutualCare policies that include inflation protection qualifying under the state's Partnership LTC program provide dollar-for-dollar Medicaid asset disregard protection. See our Partnership LTC guide for how this works.

Mutual of Omaha underwriting: what they're looking for

Like all traditional LTC carriers, Mutual of Omaha uses health-class tiers to set premiums. Preferred-health applicants pay the lowest premiums; standard-health applicants pay more; some conditions lead to a rated policy or outright decline.

The general underwriting picture for traditional LTC insurance in 2026 applies to Mutual of Omaha: approximately 12% of applicants in their early 50s are declined, rising to roughly 47–50% by the late 60s. Automatic disqualifiers across most traditional carriers include current ADL limitations, a diagnosed dementia or cognitive impairment, Parkinson's disease, and multiple recent hospitalizations. Gray-zone conditions (well-controlled Type 2 diabetes, atrial fibrillation, prior TIA) may result in a standard-class rating or an additional premium surcharge.

Mutual of Omaha is generally considered a middle-tier underwriter — not the most aggressive in terms of health classes, but not the most permissive either. If you have a health condition that might affect insurability, an independent fee-only advisor or an LTC specialist broker can tell you which active carriers are most likely to issue coverage at preferred rates given your specific health profile. Applying to the wrong carrier for your health history means getting either declined or rated at standard when preferred was available elsewhere.

See our full LTC insurance underwriting guide for the complete breakdown of health tiers, disqualifiers, and what a rated policy means for your premium.

What a fee-only advisor does when comparing Mutual of Omaha against other carriers

A commissioned LTC insurance agent representing Mutual of Omaha earns 50–100% of first-year premiums on a MutualCare policy. An agent who sells primarily New York Life earns the same commission structure on a NY Life policy. This creates an obvious conflict: the agent's carrier recommendation may reflect their primary carrier relationship as much as your planning needs.

A fee-only advisor comparing Mutual of Omaha against the other active traditional carriers — Thrivent, New York Life, NGL — does the following differently:

• Apples-to-apples benefit design comparison. To compare carriers meaningfully, you need identical benefit specs: same daily benefit, same benefit period, same inflation protection, same elimination period. A commissioned agent often presents different specs because the comparison looks better for their preferred carrier that way.
• Rate stability weighting. Mutual of Omaha's rate history is evaluated alongside Thrivent's and New York Life's, including which states have seen the most adjustment activity.
• Self-fund crossover modeling. If your assets are near the self-fund threshold, the advisor models whether buying any traditional LTC coverage makes sense versus building a dedicated self-fund reserve — and what the crossover looks like at different care scenarios.
• Hybrid alternative comparison. If you have existing life or annuity cash value, the advisor evaluates whether a 1035 exchange into a hybrid makes more sense than paying new traditional premiums.

See our full LTC insurance company comparison for a side-by-side of all four active traditional carriers, and our how to choose LTC insurance guide for the full buyer framework.

1. Mutual of Omaha AM Best rating: AM Best rates Mutual of Omaha Insurance Company A+ (Superior) as of 2026. Verified at ambest.com; corroborated by LTC News carrier review and AALTCI carrier database. AALTCI carrier comparison
2. 2026 HIPAA LTC tax values: IRS Rev. Proc. 2025-28 establishes the 2026 per diem exclusion at $430/day and eligible premium deductibility limits by age ($500/$930/$1,860/$4,960/$6,200 for five age brackets). IRS Rev. Proc. 2025-28
3. Mutual of Omaha MutualCare product features: MutualCare Secure Solution and Custom Solution product details — monthly benefit ranges $1,500–$15,000, benefit pool $50,000–$500,000, fractional inflation options, shared care rider availability, buy-up feature to age 74. Based on carrier materials reviewed through 2025. mutualofomaha.com
4. Mutual of Omaha rate adjustment filings: Inforce rate adjustments filed for select policy blocks in multiple states (MD, OH, OK, IL, KS, MA, MO, CT) effective early 2026; 2025 proposed average of 5.8% on LTC13 block per state-approved filings. NewmanLTC carrier news, 2025
5. LTC carrier market exits: AALTCI tracks carrier exits from the individual LTC insurance market. Active writers in the traditional segment as of 2026: Mutual of Omaha, New York Life, Thrivent, National Guardian Life. AALTCI (American Association for Long-Term Care Insurance)

Carrier ratings and product details verified as of June 2026. AM Best ratings are subject to change; verify at ambest.com before making coverage decisions. Product availability and benefit parameters vary by state.