Last Updated: September 2020
If you’re looking for a complete review of Mutual of Omaha life insurance, this is for you.
Below we will cover the history of Mutual of Omaha, their financial ratings, policies, and more. By the end of this article, you will know if Mutual of Omaha can fulfill your life insurance needs. We have worked directly with Mutual of Omaha to help 100’s of people find life insurance, and this is our review.
- Brief History of Mutual of Omaha’s Life Insurance
- Mutual of Omaha Financial Ratings
- Mutual of Omaha Offers Very Competitive Rates for Life Insurance
- Reviews of Mutual of Omaha’s Life Insurance Policies
- How to Apply for a Mutual of Omaha Life Insurance Policy
- Compare Mutual of Omaha Life Insurance Rates with Other Carriers
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
Mutual of Omaha has an A.M. Best rating of A++ (superior) & has been in the life insurance industry for over 100 years. Mutual of Omaha Life Insurance Company offers great whole life insurance, as well as term & universal life policies. They have competitive rates & aggressive underwriting guidelines.
Brief History of Mutual of Omaha’s Life Insurance
Mutual of Omaha opened its doors in 1909. During its early years, they laid their foundation based on innovation and a focus on superior customer service. Mutual of Omaha life insurance reviews from customers show us that those foundational characteristics still remain true today.
Throughout the years Mutual of Omaha has been on the cutting-edge of the insurance industry. For example, they extended insurance coverage to women wage-earners during World War I and became the first company to include a rehabilitation provision in their disability income protection policies in 1960. They continue to be active in their local communities.
Also, Mutual of Omaha writes life insurance under the “United of Omaha” name.
Mutual of Omaha Financial Ratings
Because of the company’s “ability to meet ongoing obligations to policyholders” and because of its strong financial foundation, Mutual of Omaha has high financial ratings. This definitely makes Mutual of Omaha a great company to look into, but there are also many other top-rated life insurance carriers as well.
Here are the ratings for Mutual of Omaha Life Insurance:
- A.M. Best: “A++” (superior) rating
- Affordability Index: 9.5
- Ease of Applying: 9.2
- Customer Service: 9.3
- COMDEX Ranking: 93
A.M. Best is the industry benchmark for financial strength in the life insurance industry. The other three metrics are based on a number of factors including our industry knowledge of Mutual of Omaha compared with other companies. The COMDEX ranking is a composite score that considers A.M. Best and other top ratings agencies.
Learn more about our process for reviewing life insurance companies here.
Mutual of Omaha Offers Very Competitive Rates for Life Insurance
One of the biggest benefits of choosing Mutual of Omaha for life insurance is the company’s highly competitive rates. These affordable insurance rates and the company’s very aggressive underwriting guidelines when it comes to various health ailments make it a very popular choice among consumers.
For example, a 50-year-old male looking for life insurance can get $500,000 in coverage for as little around $80 to $85 per month for a 20-year term life insurance policy. A female would only pay $60 to $65 for the same policy.
Their whole life insurance policies are also very affordable.
The “Fit Program” Can Lower Your Rates Even More
The company’s innovative thinking led them to create the “Fit program.” Mutual of Omaha’s Fit programs provide credits to help consumers move from a “substandard” offer to a more favorable one.
Individuals are rewarded for having a good driving record, a good family health history, not smoking, and other health-related items.
Reviews of Mutual of Omaha’s Life Insurance Policies
When choosing a life insurance company, you first should pick the right type of policy for you.
Mutual of Omaha Whole Life Insurance Review
Mutual of Omaha life insurance offers a range of great whole or permanent life insurance products. One of the most popular of these products is Mutual of Omaha’s “no lapse guarantee” policies.
They also offer one of the best guaranteed acceptance life insurance policies on the market for people with high risk conditions. This policy comes with up to $25,000 in coverage and is for people between the ages of 45 and 85.
Mutual of Omaha Term Life Insurance Review
You can purchase term life insurance through Mutual of Omaha starting at 10-year terms, up to a 30-year term policy.
Their term policy is one of the best on the market because of their low rates and the company’s financial strength. However, it is always best to compare multiple companies when searching for term life insurance since each company will view your situation differently.
If you are looking for competitive rates for term life insurance, compare Mutual of Omaha alongside other companies like Principal Life Insurance before making your decision. We also offer reviews of over 50 carriers and agencies to help you find the right policy for your needs.
Mutual of Omaha Universal Life Insurance Review
Mutual of Omaha offers three universal life insurance options:
- Life Protection Advantage
- Income Advantage
- AccumUL Answers
These universal life insurance policies have additional benefits, such as death benefits, cash value accumulation, flexibility, tax advantages, and accelerated death benefits. Universal life insurance is a more complex form of life insurance, so work with an experienced independent agent before purchasing a policy.
How to Apply for a Mutual of Omaha Life Insurance Policy
To apply for a Mutual of Omaha life insurance policy, you must use an agent, like us. We recommend using an independent life insurance broker so you can compare their rates to other top carriers.
Mutual of Omaha has implemented e-signature technology for both their term and permanent products which means you can apply without a stack of papers staring you down. It’s really convenient when buying life insurance over the phone.
We’ve helped people purchase life insurance from Mutual of Omaha for years, and they consistently offer great products and great service to our customers. We love working with the company and always recommend their coverage to our customers when it’s the best fit.
Start by filling out our quote tool or giving us a call!
Compare Mutual of Omaha Life Insurance Rates with Other Carriers
Don’t make a final decision on your life insurance coverage before you compare some of the other most popular choices. We have reviews of Zander Insurance, Primerica Life Insurance, United Home Life, and many more. Without comparing, you may not get the best rate possible.
Here are some of the other top 10 best life insurance companies to consider along with Mutual of Omaha.