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United of Omaha Life Insurance Company Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
9 Customer Comments & Reviews - see all comments
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United of Omaha Life Insurance Company is a subsidiary of Mutual of Omaha. Founded in 1909, Mutual of Omaha is a privately held, Nebraska-based mutual insurance company. Mutual of Omaha offers a broad range of life and health insurance policies, among them dental, disability, accident, and critical illness. United of Omaha Life is a AM Best A+ rated branch of Mutual of Omaha that offers whole life policies.
 
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How is United of Omaha Life rated?

Breakdown

4.3/5
Company Stability
5.0/5
Reputation
4.2/5
Policies & Coverage

Overall Rating: 4.4 / 5 (Excellent)

United of Omaha Life is a Mutual of Omaha company. Mutual of Omaha has been a leading provider of financial and life insurance products since 1909. The company, which boasts a strong financial reputation and above average customer ratings, offers term and permanent life insurance products and related services. Although their plans provide standard coverage and few optional riders when compared with similarly sized carriers, their enrollment process is simple, and their policies are accessibly priced.

Financial Strength

Key Details

Underwriter
Mutual of Omaha Insurance Company
Marketshare
1.23%
Premiums Written 2019
$1,569,824,275
Standard & Poor's Financial Rating
AA-
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Company Stability - 4.3 / 5

Backed by Mutual of Omaha, United of Omaha Life can rely on the larger company's solid financial reputation, which boasts a stronger than average ability to repay short term debt in the foreseeable future according to The Big Three credit-rating agencies. Mutual of Omaha holds an A.M. Best financial rating of A+ (Superior), a Moody's credit rating of A1, and an S&P rating of AA-.
*The above information reflects the market share, premiums, and financial strength of the issuer of the United of Omaha Life life insurance policies: Mutual of Omaha Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.58
NAIC Total Complaints 2017
58
*The NAIC complaint ratio (in this case 0.58) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Negative Reviews
4
Date Collected
2017-06-28

Reputation - 5 / 5

Underwritten by Mutual of Omaha, United of Omaha Life has a below average volume of customer complaints according to the NAICS Association. For a company of its size, Mutual of Omaha's negative online complaints are quite low.

United of Omaha Life Policies

United of Omaha Life offers customers the following life insurance policies: Whole Life.

Key Term Policy Features

  • Guaranteed Level Premiums
  • Accelerated Death Benefit

Policies & Coverage - 4.2 / 5

United of Omaha Life only offers whole life insurance. Their plans feature guaranteed level premiums and accelerated death benefits, depending on the product selected. United of Omaha Life's whole life plans are for those aged 45-85 and come with a graded death benefit. If death occurs from natural causes in the first two years, the beneficiary will receive the premiums paid plus 20%. After the two years they will receive the full amount. Policies also build cash value that can be borrowed in the future. Although this is a rather narrow set of policy options, customers filling out United of Omaha Life's quote form agree to be contacted by Mutual of Omaha agents, who can provide a much larger set of policies commensurate with the larger organization's reputation.

Flexibility and Available Riders

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
https://www.mutualofomaha-lifeinsurance.com
Company Phone
(402) 342-7600
Headquarters Address
3301 Dodge St., Omaha, NE, 68175
Year Founded
1909

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9 Customer Comments & Reviews

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J
jrnakken
8/3/2021
Paid my $15+ per month out of my different bank accounts for the years between my age 59 and 80. Then got a notice that they were assimilating my cash value of $3000+ because I had not responded to the notice that said a changeover was due per the fine print in my policy. HOW DID I HAPPEN TO GET THE SECOND LETTER BUT NOT THE FIRST? Why do they not give an important notice by registered or certified mail? Local agent came and gave me another $5000 policy for $30+ dollars a month, graciously rescinding the 2-year waiting period on death! When asked how they could just keep my whole life money, he said ""1) They're in the business of making money" and 2) "If you had got your policy... Read More

esmthy
12/27/2019
I had a life insurance policy on my wife with United of Omaha. She passed away in May of this year. I took the policy to the funeral home that I was using, and her claim was settled as soon as the death certificate was provided to them. . I had some money due from from the access of her insurance policy proceeds and got it within one week of her funeral. United Insurance folks even called me while I was at the funeral home to see if everything was being handled correctly. In my book, that's excellent service and communications. I am now in the process of taking out some life insurance for my two daughters with United of Omaha. Just my opinion, but the ones having problems seems like they... Read More

L
Lorraine K
8/10/2019
I have had a policy with this company for over 5 years and always paid with a check. This time I went to the website to pay my premium online and this is where it gets frustrating. I got as far as verifying my address and then hit the continue button that led to a screen stating Submitting your Payment and it had the moving circle above these words. I let the circle go around for 30 mins and no screen came up stating the payment was processed or stating unable to process so it left me in limbo wondering if my payment went thru or not. Horrible website for such a large company and makes me think if I made a mistake in getting a policy with them.

C
cherylann s
8/5/2019
I had a great experience they were wonderful in helping me with my fathers death benefits thank you

D
Deborah W
7/12/2019
I have a policy for my son and daughter with ''United of Omaha Life Insurance Company.'' My son passed on 06/12/2019 I have been trying to get in touch with this company and to stop taking this premium out of my account but can't find nobody. I thought claims are to be paid in 24 hours so please don't ask me to give a good rating when I have to go thru something like this.

A
alfreda s
6/28/2019
policy type = whole life insurance A payment is currently scheduled for the amount of $64.75 to be withdrawn on 6/1/2019 policy ending in xxxxxx238 withdrawal date 6/1/2019 A least 3 business days before scheduled withdrawal date at the time TZ insurance company was working with united of omaha life insurance company $64.75 was withdrawn from my on june 3rd I need united of omaha life insurance company to mail me a copy of the policy to 17018 sandpiper ct milwaukee wisconson 53223 my phone is 414 5093303 alfreda story

R
Robert A
1/31/2019
I'm still waiting on the 50dollar gift card you promised me in Dec for your survey Robert A. Jacques. Hays, Ks

E
Eloy C
11/30/2018
I recently mailed you a check for my first month of coverage and the check cleared my bank. Why has my check cleared and I have yet to receive my policy. I would appreciate it, if you would let me know when to expect my policy.

T
Teresa B
10/24/2017
My family has trust in this company and we rely on the companies best interest in us thank you for being so secure.. 😉

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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