BetterLife Partners with Mutual of Omaha to Launch Critical Illness Lump-Sum Benefits

BetterLife, a member-owned insurer based in Madison, Wisconsin, has partnered with Mutual of Omaha to offer Critical Advantage, a suite of lump-sum health indemnity products designed to assist members in managing the financial impact of critical illnesses such as cancer, heart attack, and stroke. The product suite includes three insurance options that provide lump-sum payments upon a covered diagnosis, allowing beneficiaries to cover various expenses like medical costs, travel for treatment, and lost income.

This new offering aligns with BetterLife's strategic goal to broaden its product range beyond traditional life insurance and annuities, specifically targeting the needs of rural and small-town communities where affordable critical illness insurance options are often limited. The product features simplified underwriting, flexible benefit levels, and both term and lifetime guaranteed-renewable coverage options.

BetterLife emphasizes that Critical Advantage complements its mission to provide accessible and relevant insurance solutions that address contemporary financial and healthcare challenges faced by its members, particularly those in under-served regions. The partnership with Mutual of Omaha leverages the latter's experience in health indemnity products to enhance BetterLife's service portfolio.