Mutual of Omaha is one of the biggest names in the life insurance industry – for good reason. Many seniors enjoy the great rates and customer service Mutual of Omaha burial insurance offers.
Final Expense Benefits only works with the best life insurance providers, and Mutual of Omaha is consistently a customer favorite. They offer only a few final expense insurance policies, but their options stand out in the market.
If you’re interested in Mutual of Omaha burial insurance, call Final Expense Benefits at (866) 786-0725 to learn more. Check our free online quoting tool for personalized pricing estimates.
Mutual of Omaha Life Insurance History
Mutual of Omaha was founded as the Mutual Benefit Health & Accident Association in 1909. United of Omaha Life Insurance Company was founded alongside. Mutual of Omaha continues to sell life insurance as United of Omaha.
Reflecting its roots, the Mutual Benefit Health & Accident Association changed its name to Mutual of Omaha in 1950. They grew in popularity over the 1950s and sponsored Mutual of Omaha’s Wild Kingdom in 1963. Wild Kingdom is a television show promoting wildlife protection and showcasing interesting animals and has gone through several iterations, but is currently still airing.
Since then, Mutual of Omaha has continued to grow. They’re a Fortune 500 company and are highly rated by third-party rating agencies and customers alike.
Mutual of Omaha founded
Clair Carlton Criss founds Mutual Benefit Health & Accident Association.
Continues to grow
Mutual of Omaha becomes licensed to sell life insurance across the U.S.
Mutual of Omaha's Wild Kingdom airs
Wild Kingdom, a wildlife documentary series, first goes on the air. It’s gone through some iterations over the years, but still airs on network TV.
100 year anniversary.
Mutual of Omaha celebrates its 100-year anniversary.
Mutual of Omaha Burial Insurance
Though they may be limited, Mutual of Omaha burial insurance options are some of the best in the industry, boasting inexpensive rates and peerless customer service.
Living Promise Whole Life Insurance, Mutual of Omaha’s main burial insurance option, is available as a no-wait option or as a graded (or modified whole life) policy with a two-year waiting period. Applicants can be ages 45-85 and eligibility depends on applicant health.
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Mutual of Omaha Living Promise Burial Insurance
The no-wait option offers the best rates and coverage of any Mutual of Omaha burial insurance policy. Like most final expense policies, Mutual of Omaha burial insurance is intended to be inclusive for senior applicants up to their 80s and policies typically don’t require a medical exam.
The Living Promise no-wait policy is a whole life plan, meaning it lasts until the policyholder’s death with locked-in monthly rates and grows in cash value over time. Payouts range from $2,000 to $50,000, meaning you can tailor your life insurance coverage to your needs. Final expense insurance is commonly used to cover funeral expenses and other end-of-life expenses.
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Mutual of Omaha Living Promise Graded Plan
If you don’t qualify for the no-wait plan, Mutual of Omaha also offers a Living Promise graded plan. It can be a good choice for smokers or those with major preexisting health conditions.
Rates for the graded policy are higher than the no-wait plan, and it requires a two-year waiting period. This means that if the policyholder dies in the policy’s first two years, the payout is reduced until the waiting period is over. The graded plan’s maximum death benefit is $30,000.
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Mutual of Omaha Guaranteed Issue Burial Insurance
For those with considerable health concerns, like cancer, diabetes, or Alzheimer’s, Mutual of Omaha offers a guaranteed-issue policy. This policy has the highest rates out of any Mutual of Omaha burial insurance plan, but can’t deny any applicants due to health conditions.
Like the graded policy, the guaranteed-issue plan has a two-year waiting period and a $30,000 maximum death benefit.
All Mutual of Omaha Living Promise burial insurance policies are only available through a licensed life insurance agency like Final Expense Benefits. The guaranteed issue policy can be purchased directly from Mutual of Omaha, but it’s often best to go through a brokerage to ensure you get the best possible rates and coverage.
If you are interested in a Mutual of Omaha burial insurance policy, call Final Expense Benefits at (866) 786-0725. Our expert agents can help you apply for a policy or provide more information.
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How Much Does Mutual of Omaha Burial Insurance Cost?
A major reason why Mutual of Omaha burial insurance is trusted by so many seniors is the low cost. Below are rates for the no-wait and graded Mutual of Omaha Living Promise policies for a non-smoking applicant with no preexisting health concerns:
| Age / Gender | Living Promise No-Wait | Living Promise Graded |
|---|---|---|
|
50 / Male |
$31 |
$40 |
|
50 / Female |
$24 |
$30 |
|
60 / Male |
$44 |
$57 |
|
60 / Female |
$33 |
$43 |
|
70 / Male |
$75 |
$87 |
|
70 / Female |
$53 |
$64 |
|
80 / Male |
$140 |
$157 |
|
80 / Female |
$98 |
$127 |
These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.
Other Mutual of Omaha Life Insurance Coverage Options
In addition to acclaimed burial insurance, Mutual of Omaha also offers term life and universal life insurance options.
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Mutual of Omaha Term Life Insurance
Unlike whole life and burial insurance, term life insurance only lasts for a set period. It’s typically used as a form of income replacement by younger adults. Therefore, underwriting health requirements are often stricter than final expense insurance and death benefits are much higher.
Mutual of Omaha offers term life insurance with 10, 15, 20, and 30-year term options. Policies are available to applicants ages 18-80 and death benefits range from $100,000 to over $1 million.
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Mutual of Omaha Universal Life Insurance
Universal life insurance is similar to whole life insurance: it lasts until the policyholder’s death and cash value grows over the policy’s lifetime. Unlike whole life insurance, universal life insurance monthly premium rates and death benefit amounts can be adjusted by the policyholder.
Mutual of Omaha offers three universal life insurance plans, but Final Expense Benefits advises selecting simpler plans like final expense insurance. Rates and death benefit amounts can get complex with a complicated universal plan.
Optional Mutual of Omaha Life Burial Insurance & Life Insurance Coverage
Mutual of Omaha is a massive company that offers health insurance, financial services, and investment brokerage. Their life insurance options are diverse too; Mutual of Omaha offers some limited life insurance riders and a children’s whole life insurance plan.
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Mutual of Omaha Burial Insurance Riders
Mutual of Omaha burial insurance offers two rider choices:
- The accelerated death benefit rider is included with the Living Promise immediate coverage policy at no extra cost. Policies with this rider allow the policyholder access to the death benefit if they are diagnosed with a terminal illness or confined to a nursing home.
- The accidental death benefit rider increases the death benefit payout if the policyholder dies in an accident.
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Mutual of Omaha Children’s Whole Life Insurance
Mutual of Omaha offers a whole life plan for children ages 14 days to 17 years. It can be a good choice for parents or grandparents looking to provide coverage for children at a low rate that never increases, regardless of future health or occupation. Like other whole life plans, the children’s whole life insurance policy grows in cash value.
Rates for the Mutual of Omaha children’s plan are lower than comparable plans, like the Gerber Grow-Up Plan, with fewer restrictions.
Mutual of Omaha Burial Insurance Pros & Cons
Pros
Informative, easy-to-navigate website
The Mutual of Omaha website contains extensive information about their life insurance options, quoting tools, and easy access to claim filing services.
Competitive rates
Mutual of Omaha burial insurance rates are competitive with our other top-rated final expense insurance providers.
Wide death benefit range
Mutual of Omaha Living Promise burial insurance offers a broad death benefit range from $2,000 to $50,000. This is a wider range than many final expense insurance providers offer, giving you unmatched control over your end-of-life expenses.
High payout maximum
Not only does Mutual of Omaha burial insurance offer a wide range, the $50,000 death benefit maximum is higher than many competitors. Such a large payout can easily cover funeral, cremation, or burial plot costs, many other end-of-life expenses, or provide a substantial inheritance to beneficiaries.
Positive reviews
Third-party rating services and customers agree: Mutual of Omaha’s reliable customer service and strong financial basis make them a great burial insurance option.
Strong financial basis
It’s typically best for your life insurance provider to have strong financial backing, so you can be confident your provider can actually pay the benefit. Mutual of Omaha has a substantial financial basis, meaning you don’t have to worry about your payout disappearing.
Above-average options for people with preexisting conditions
Mutual of Omaha burial insurance offers two choices for people with preexisting conditions: the guaranteed issue policy and the Mutual of Omaha Living Promise graded plan. Premiums for graded policies can get pricey due to the risk of insuring people with health concerns, but Mutual of Omaha’s graded burial insurance rates are some of the lowest on the market.
Cons
Limited life insurance riders
A wide death benefit range adds a lot of customizability to Mutual of Omaha burial insurance policies, but limited riders mean you can’t tailor your coverage much more.
Mutual of Omaha Burial Insurance Reviews: Third-Party Rating Services
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AM Best Rating
AM Best is a third-party financial monitoring service that assesses life insurance providers’ credit and ability to fulfill financial obligations. Mutual of Omaha is rated A+, the highest possible rating, indicating excellent financial basis.
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NAIC Rating
The NAIC, or National Association of Insurance Commissioners, records complaints against life insurance companies on their yearly complaint index, with the goal of protecting consumers. Their rating scale ranges from 0 to 10. 1 is the average customer complaint rating; companies should aim to be below 1.
Mutual of Omaha’s NAIC rating is 1.27, indicating a slightly-above average share of customer complaints. However, it’s important to note that this rating is from 2023, which is when the most recent NAIC data was collected.
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BBB Rating
The Better Business Bureau is an independent agency that rates businesses based on their ability to navigate and successfully resolve customer complaints.
The BBB rates Mutual of Omaha A+. Mutual of Omaha is also a BBB-accredited business, indicating a superior ability to resolve customer complaints.
Mutual of Omaha Burial Insurance Customer Reviews
Carl M
Detroit, MI
5/5
My mother had a policy for over 30 years with Mutual of Omaha Life Insurance. At the time of her death in December 2015 there were no problems. Check was issued within weeks. Now I refer all my friends and relatives who are looking for a trustworthy life insurance company to Mutual of Omaha.
Grandma M
Boston, MA
5/5
Jeannie R
Linden, NC
5/5
Been with Mutual of Omaha Life Insurance many years. Never had a problem and excellent customer service every time.
Our Mutual of Omaha Burial Insurance Review & Final Thoughts
Mutual of Omaha burial insurance is a great choice for any senior looking to cover their end-of-life expenses ahead of time. Great rates and solid customer service make Mutual of Omaha a trusted choice in the life insurance industry.
Final Expense Benefits is here to help you get great final expense insurance at a price you like. Mutual of Omaha burial insurance is one of our top-rated options and we are ready to help you find a great policy.
To learn more about Mutual of Omaha burial insurance call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET. Check our free online quoting tool for personalized price estimates.
FAQ
What is Mutual of Omaha’s Wild Kingdom?
Wild Kingdom is a television documentary series sponsored by Mutual of Omaha that showcases animals across the world and promotes wildlife conservation. It first aired in 1963.
Is Mutual of Omaha life insurance legit?
Mutual of Omaha is not only a legitimate life insurance provider but is consistently highly rated by customers, agencies, and third-party rating services. Mutual of Omaha is particularly praised for great rates, reliable customer service, and a strong financial basis.
Where is the Mutual of Omaha headquarters located?
Mutual of Omaha’s headquarters are located in Omaha, Nebraska.
What is Mutual of Omaha Guaranteed Advantage?
Mutual of Omaha Guaranteed Advantage is a Medicare supplement health plan, intended to fill gaps in Medicare health care coverage.
What is Mutual of Omaha Living Promise?
Mutual of Omaha Living Promise is their burial insurance policy, offered as a no-wait level benefits plan or as a graded / modified plan with a two-year waiting period. Applicant eligibility depends on health status and is assessed following Mutual of Omaha’s underwriting guidelines.
