Mutual of Omaha Life Insurance Company Review

Looking for a comprehensive Mutual of Omaha Life Insurance Company Review? Are you wondering if Mutual of Omaha is one of the top 10 life insurance companies? You’re in the right place to find out. When looking for the best life insurance company there are various factors that help determine if a company is the best fit for you. It can be a difficult process trying to figure out which life insurance company will provide you the best coverage at the lowest rate.

Let’s find out if Mutual of Omaha is the best company for you.

Mutual Of Omaha Life Insurance Company




Financial Strength

Review Summary

The Mutual Of Omaha Life Insurance Company is an excellent carrier for many people. They’re a financially strong company with several No Medical Exam options.

Very Good!

Mutual of Omaha Life Insurance Company Review

You’ve likely heard the name Mutual of Omaha and are wondering if you should select them as your life insurance provider. This review will give you some details about their history, policies, and financial ratings.

Mutual of Omaha is just one of more than 60 life insurance companies represented by us, and is one of the most renowned life insurance companies in the U.S. To figure out which provider is most suitable for you, it is best to compare quotes.

Tip: Get instant life insurance quotes now by simply completing our free quoter here. If you’re looking for our Mutual of Omaha Life Insurance Company Review, read our post below.

Mutual of Omaha History

Established over 100 years ago under the name Mutual Benefit Health & Accident Association, Mutual of Omaha provided accident and health insurance for the first 10 years of its existence. In the 1920’s, they began selling life insurance products to consumers. From this point onwards, Mutual of Omaha evolved into a financially stable and respected provider of life insurance solutions.

Mutual of Omaha Life Insurance Company Financial Ratings

It has an A+ ranking from insurance rating services like Standard & Poor and A.M. Best. Each rating is positive, making them a trustworthy company to buy a policy from.

Mutual of Omaha is a widely-used insurance company in the U.S., but their popularity doesn’t equate to being the most suitable choice. Most consumers simply select an insurance company they’ve seen an advertisement for without taking insurance coverage costs into consideration.

Mutual of Omaha Life Insurance Products

If your needs ever change, Mutual of Omaha provides a variety of life insurance types. They offer term, permanent and term life insurance policies that can be switched into permanent life insurance.

Mutual of Omaha’s Term Life Insurance Products

This company provides a pair of individual term life insurance policies, namely Term Life Express and the Term Life Answers.

Both policies are discussed below.

Term Life Answers

Much like Term Life Express, this kind of policy provides more terms than its counterpart.

Term Life Answers comes in 10, 15, 20, or 30-year terms, all of which can be changed into permanent coverage for applicants between the ages of 45 and 85. This life insurance policy is renewable up to age 95.

This policy’s premium rates won’t ever go up during the length of the term you prefer.

The death benefits begin at a minimum of $100,000. Much like the Express, Answers come with an accelerated death benefit, letting you access 94% of the death benefit. However, the life expectancy limit is only 1 year instead of 2.

Numerous other features include a child rider and disability waiver that lets you purchase term life insurance for dependents no older than 20 years old.

What Are Mutual of Omaha’s Rates Like?

The good news is that Mutual of Omaha actually has some of the best rates around.

Mutual of Omaha is very competitive life insurance company in several situations. You need to be aware that your exact rates are going to depend on factors like your age, gender, health condition, and certain activities you engage in.

PrudentialTerm Essential$34$43$88$27$38$76
Banner LifeOPTerm$21$32$94$18$26$58
John HancockTerm$26$34$81$24$34$78
ForestersYour Term$21$31$79$18$27$57
Lincoln FinancialLifeElements$28$38$78$23$30$58
Lincoln FinancialTermAccel$21$29$78$17$25$57
Mutual of OmahaTerm Life Answers$21$33$85$23$28$64
Pacific LifePacific Promise Term$20$29$77$19$26$61
ProtectiveCustom Choice UL$20$28$76$17$25$55
ProtectiveClassic Choice Term$20$28$75$17$25$55
PrudentialReturn of Premium Term$101$143$291$88$130$253
SBLILevel Premium Term$21$40$96$24$34$65
TransamericaTrendsetter Super$22$37$79$18$30$62
TransamericaTrendsetter LB$24$38$92$20$34$73

Find out if Mutual of Omaha will get you the best rate!

Compare Quotes

Use our online instant calculator to compare rates from dozens of the top companies.

Total Time Needed: 5 minutes

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Required Tools:

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Things Needed?

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Steps to get an accurate quote

Step 1 : Use Our Online Calculator

Use the calculator on this page or click the link above to visit our instant quotes page.

Step 2 : Input coverage details

Fill out the basics about what you’re wanting, how much coverage, for how long, etc. That way we can understand your situation before we can help you. Complete the calculator details as accurately as possible, and be absolutely sure your contact information is correct so we can reach you.

Step 3 : Get help from a licensed agent

Once you’ve filled out the calculator, one of our licensed agents will  provide you all your options and plan out who will provide you the best rate based on your specific health and goals. All of the recommendations will be based off of the details you provide. It’s very important that you’re honest and answer your agent’s questions accurately. 

Step 4 : Compare realistic rates

This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We’ll make sure you get the best one based on what you’ll qualify for.

Will MOO or some other company like Prudential, AAA, Lincoln Financial, or CMFG Life Insurance get you the best deal? If you want to make sure you’re getting the best life insurance policy available, here’s what you need to do…

Mutual of Omaha No Medical Exam Life Insurance 

Term Life Answers required a medical exam, however you can also apply for Term Life Express which does not require a medical exam.

A No Exam life insurance option is the basic and convenient life insurance choice.  Mutual of Omaha offers a fast and simple way to purchase life insurance because a medical exam isn’t required. Much like other businesses providing life insurance – the Term Life Express offered by Mutual of Omaha has multiple terms to choose from.

Term Life Express – No Exam Policy

Term Life Express offers terms as long as 15, 20, or 30 years that come with a $50,000 minimum death benefit that can go as high as $400,000.

Coverage offered with Term Life Express can be ideal for long-term financial needs. There is a variety of features that come with Term Life Express, such as the accelerated death benefit, which allows you to use up to 92% of your death benefit if you are terminally ill and not expected to live longer than 2 years.

This is an outstanding benefit that several insurance companies don’t provide in their policies.

Long-term care and medical bills can get quite costly, and families can end up owing thousands of dollars to treat someone who is terminally ill. With this rider, you’ll be able to capitalize on your life insurance policy when you need it most.

Alternatively, you can opt for the residential damage rider, which dismisses your monthly premiums for half a year if your home endures over $25,000 in damages.

Not everyone is suited for Term Life Express, even though it’s offered for consumers between the ages of 18 and 65.

Becoming accepted will be contingent on the health qualification questions.

Since the Express option doesn’t require a medical exam, anticipate paying more.

No Exam life insurance typically is more expensive than a fully underwritten policy.

Be mindful that the maximum coverage is $400,000, and the express can’t be converted to permanent coverage.

Mutual of Omaha Permanent Life Insurance Products

If term life insurance doesn’t meet your goals, Mutual of Omaha also offers permanent life insurance options.

Mutual of Omaha provides 3 GUL (Guaranteed Universal Life) options to meet these needs. MOO is one of the best companies for guaranteed universal life insurance. Here are their GUL options:

  • Guaranteed Universal Life. This Mutual of Omaha GUL policy will provide you with a fixed premium and 2% interest rate.
  • Guaranteed Universal Life Survivor. This policy will pay a death benefit of a surviving spouse. The policy has a fixed premium that will insure both spouses.
  • Guaranteed Universal Life Plus. This GUL policy provides applicants ages 18-80 a 2% guaranteed interest rate as well as an interest rate bonus of 50% beginning in the 10th year of the policy.
  • AccumUL Answers. This product offers higher target premiums, extended no-lapse protection, a shorter surrender charge period, and enhanced accelerated death benefit riders.
  • AccumUL Plus. With face amounts of $25,000 and up, AccumUL Plus provides two levels of no-lapse protection, which allow the policy to stay inforce even if the Surrender Value is not enough to cover the monthly deduction.

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