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Mutual of Omaha Life Insurance Review

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Headquartered in Omaha, Nebraska, Mutual of Omaha is a privately-held mutual insurance company with over a century of experience in the industry. As a financially-sound multi-line carrier, Mutual of Omaha currently offers a wide array of reliable insurance, financial, and banking products including long-term care, disability income, and Medicare Supplement coverages.
 
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How is Mutual of Omaha rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Mutual of Omaha is a well-established insurance company offering a variety of life insurance products. When it comes to life insurance, Mutual of Omaha offers four different types: term, whole, universal, and indexed universal. The company not only offers traditional life insurance products requiring a medical exam , but also express products that offer the convenience of a simplified underwriting process and no medical exam.

Financial Strength

Key Details

Underwriter
United of Omaha Life Insurance Company

Company Stability - 0 / 5

AM Best, a major credit firm that specializes in the insurance industry, has assigned an A+ (Superior) rating to Mutual of Omaha. Additionally, Fitch Ratings, another major credit rating firm, recently gave Mutual of Omaha an A (Stable) rating. These ratings reflect a strong balance sheet, a solid business strategy and a healthy insurance market. Financially healthy companies are more likely to pay out in the event of a claim.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Mutual of Omaha life insurance policies: United of Omaha Life Insurance Company.

Reputation & Customer Experience

Customer Ratings

BBB Rating
A+

Reputation - 0 / 5

Mutual Omaha is accredited by the Better Business Bureau and enjoys an A+ rating with the organization.

The company has a minimal number of complaints for a company of its size. However, it should be noted that its highly responsive customer support staff has responded to all of them, in an effort to resolve any pending issues.

They've been in operation for over a century, and by all appearances, seem keen on adhering to high ethical standards and complying with regulatory requirements as well as their own policies.

Mutual of Omaha Policies

Mutual of Omaha offers customers the following life insurance policies: Term, Whole Life, Universal Life, Indexed Universal Life.

Term Life Insurance

Minimum Age
18
Maximum Age
80

Universal Life

Minimum Age
0
Maximum Age
85

Policies & Coverage - 0 / 5

Mutual of Omaha offers four types of life insurance policies:

Term: With coverage length of 10, 15, 20 or 30 years and death benefit amounts of $100K+
Whole: Lifetime coverage with death benefit of $2,000 to $50,000
Universal: Lifetime coverage with death benefit of $25,000+
Indexed Universal: Lifetime coverage with death benefit of $100K+

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Waiver of Premium Rider
  • Guaranteed Insurability Rider
  • Critical Illness Rider
  • Return Premium Rider

Available Whole Life Riders

  • Waiver of Premium

Available Universal Life Riders

  • Waiver of Premium

Flexibility & Available Riders - 0 / 5

Mutual of Omaha offers a range of life insurance riders to customize your coverage and address specific needs. Here's a breakdown of some commonly offered riders:

Living Benefit Riders:
- Accelerated Death Benefit (ADB): Allows you to access a portion of your death benefit while you're still living if diagnosed with a terminal illness.
- Critical Illness Rider (CIR): Provides a benefit if diagnosed with a covered critical illness like cancer, heart attack, or stroke.
- Living Need Rider: Enables access to a portion of your death benefit for chronic or debilitating conditions like Alzheimer's or ALS.

Financial Benefit Riders:

- Waiver of Premium Rider: Waives your premium payments if you become disabled due to illness or accident.
- Guaranteed Insurability Rider: Allows you to purchase additional coverage without medical evidence at predetermined intervals and rates.
- Child Term Rider: Provides term life coverage for your children at a discounted rate, often automatically attaching to your policy.

Other Riders:

- Accidental Death Benefit Rider (ADBR): Pays an additional benefit if death occurs due to an accident.
- Return of Premium Rider (ROP): Returns your premiums if you die outside the specified term period.

Additional Company Information

Homepage URL
https://www.mutualofomaha.com/
Company Phone
(402) 342-7600
Headquarters Address
3300 Mutual of Omaha Plaza, Omaha, NE, 68175
Year Founded
1909

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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