For more than 100 years, Mutual of Omaha has established itself as one of the biggest names in the life insurance industry—and for good reason. Seniors have enjoyed and continue to enjoy great rates and quality customer service with Mutual of Omaha’s burial insurance coverage.
Here at Final Expense Benefits, we only work with the best of the best when it comes to life insurance providers, and Mutual of Omaha has proven itself time and time again that it’s a customer favorite. So, despite only having a few final expense insurance policies, the company’s available options stand out in the market.
Interested in applying for burial insurance under Mutual of Omaha? Call Final Expense Benefits at (866) 786-0725 and learn more, or check out our free online quoting tool for personalized estimates on rates.
Key takeaways
Mutual of Omaha offers some of the most cost-accessible burial insurance rates alongside quality coverage and customer service.
Seniors with pre-existing conditions can find a policy through Mutual of Omaha, including plans that guarantee coverage.
Mutual of Omaha also provides options for term life and universal life insurance for younger applicants seeking coverage.
The company has a strong reputation for financial stability and customer service but have recently received negative criticism.
The History Behind Mutual of Omaha Life Insurance
Mutual of Omaha, originally known as Mutual Benefit Health & Accident Association, was founded in 1909. Since then, Mutual of Omaha has continued to grow into a Fortune 500 company, maintaining high ratings from third-party rating agencies and customers alike.
Mutual of Omaha Burial Insurance
Despite having fairly limited options, Mutual of Omaha’s burial insurance policies are some of the best on the market, priding itself on affordable rates and setting the gold standard for customer service.
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Living Promise Burial Insurance
Also known as Living Promise Whole Life Insurance, Mutual of Omaha’s main burial insurance policy is available as a no-wait, graded, or modified whole life with a two-year waiting period. This option is available for seniors aged 45-85, and eligibility depends on the applicant’s health.
Among the policy’s two main options, 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 meant for senior applicants up to their 80s, and policies typically don’t require a medical exam.
The Living Promise no-wait policy is also a whole life plan, meaning it lasts until a policyholder’s death with locked-in monthly rates and grows cash value over time. Payouts range from $2,000 to $50,000, meaning you can tailor your life insurance coverage to your needs.
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Living Promise Graded Plan
If you don’t qualify for the no-wait plan, Mutual of Omaha also offers a Living Promise graded plan. The policy can be a good choice for smokers or those with major pre-existing health conditions.
Graded policy rates are higher than the no-wait plan and require a two-year waiting period. This means that if the policyholder dies within 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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Guaranteed Issue Burial Insurance
For those with health concerns, like cancer, diabetes, or Alzheimer’s, Mutual of Omaha also offers a guaranteed-issue policy. This policy has the highest rates of any Mutual of Omaha burial insurance plan, allowing them to accept any applicants with health conditions. And, like the graded policy, the guaranteed-issue plan has a two-year waiting period and a $30,000 maximum death benefit. The guaranteed issue policy can be purchased directly from Mutual of Omaha; however, it’s often best to go through a brokerage, like Final Expense Benefits, 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?
One reason why seniors trust Mutual of Omaha’s burial insurance is their low rates. Here are the prices below for Living Promise No-Wait and Graded policies for a non-smoking applicant with no pre-existing health conditions:
Sample Rates - Living Promise No-Wait
| Age | Monthly Rates (Male) | Monthly Rates (Female) |
|---|---|---|
|
50 |
$31 |
$24 |
|
60 |
$43 |
$33 |
|
70 |
$70 |
$53 |
|
80 |
$135 |
$98 |
For $10K final expense insurance policies with non-smoking applicants with no pre-existing conditions.
Sample Rates - Living Promise Graded
| Age | Monthly Rates (Male) | Monthly Rates (Female) |
|---|---|---|
|
50 |
$40 |
$30 |
|
60 |
$57 |
$43 |
|
70 |
$87 |
$64 |
|
80 |
$157 |
$127 |
For $10K final expense insurance policies with non-smoking applicants with no 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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Term Life Insurance
Unlike whole life and burial insurance, term life insurance lasts for a set period and does not offer cash growth. It’s typically used as a form of income replacement for young adults. Underwriting health requirements are often stricter with term policies compared to final expense insurance, and death benefits are typically 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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Universal Life Insurance
Universal life insurance is similar to whole life insurance in that it lasts until the policyholder’s death and cash value grows over the policy’s lifetime. Unlike whole life insurance, universal life insurance monthly premiums and death benefit amounts can be adjusted by the policyholder.
Mutual of Omaha offers three universal life insurance plans: Life Protection Advantage (indexed universal life), Income Advantage (indexed universal life), and AccumUL Answers (universal life). However, we at Final Expense Benefits advise selecting simpler plans, like final expense insurance, as rates and death benefit amounts can get complex with a universal plan.
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Burial Insurance Riders
Mutual of Omaha burial insurance offers several life insurance riders:
- Accelerated death benefit: included with the Living Promise immediate coverage policy at no extra cost; grants the policyholder access to the death benefit if they are diagnosed with a terminal illness or confined to a nursing home.
- Accidental death benefit: increases the death benefit payout if the policyholder dies in an accident.
- Guaranteed refund option: allows policyholders to surrender their policy and receive their premiums back in seven 60-day windows.
- Long-term care: ensures early access to death benefits in order to pay for long-term care services.
- Guaranteed insurability rider: grants the ability to increase a death benefit without having to take a medical exam yearly as well as within 90 days following a marriage, childbirth, child adoption, or your policy’s third-year anniversary (and every three years afterwards).
- Disability waiver of policy charges: if a policyholder is disabled for at least six months before turning 60, monthly deductions can be waived.
- Disability continuation of planned premiums: if a policyholder is disabled for at least six months before turning 65, Mutual of Omaha will pay a specific amount of your premium.
- Dependent children’s: provides policyholders to buy life insurance for children ages 16 days through 20 years old; this additional coverage will last either until the child turns 23 or until the insured policyholder turns 65; the maximum amount of coverage here is $10,000 per child.
- Additional insured terms: additional benefits can be bought either on the primary person insured or on four other additional people insured for any amount from $25,000 to twice the base face coverage amount.
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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 while maintaining low rates for coverage
Mutual of Omaha Burial Insurance: Pros & Cons
Pros
- Competitive rates
Mutual of Omaha offers competitive burial insurance rates, similar to our other top-rated final expense insurance providers. - Wide range for death benefits
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, but 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. - Secure financial strength
Mutual of Omaha has a substantial financial basis, meaning you don’t have to worry about your payout disappearing. - Options for people with pre-existing conditions
Mutual of Omaha burial insurance offers two choices for people with pre-existing conditions: the guaranteed issue policy and the Living Promise graded plan.
Cons
- High number of customer complaints
Despite having a good reputation from third-party rating agencies, many online customer reviews cited the provider’s inability to process claims or acknowledge claim denials.
Mutual of Omaha Reviews: Third-Party Rating Services
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AM Best
AM Best is responsible for assessing life insurance companies’ overall credit and ability to meet financial obligations and protect consumers.
At AM Best, Mutual of Omaha’s Financial Strength rating is an A+ as of March 2025, and they have a Long-Term Issuer Credit rating of “aa-”, both indicating a strong capacity to meet financial commitments.
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NAIC
The National Association of Insurance Commissioners (NAIC) tracks customer complaints against life insurance companies and rates them on their yearly complaint index. NAIC ratings range from 0 to 10 based on the market average of complaints a company typically receives. Insurers should aim to be rated below the market average of 1.
The NAIC’s rating for Mutual of Omaha’s overall customer complaint index is 2.38 according to their 2024 National Complaint Index Report, indicating more customer complaints in just the past year for the company. However, it is important to note that their customer complaint index for individual life policies has an NAIC rating of 0.00, indicating an ideal average amount of customer complaints.
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BBB
The Better Business Bureau (BBB) helps customers find trustworthy businesses by tracking customer complaints and providing complaint resolution services between customers and businesses. Their rating scale ranges from A+ to F.
Mutual of Omaha is a BBB accredited business and has received an A+ rating from the bureau. Customer reviews from the BBB for Mutual of Omaha insurance also average at 1.21 out of 5.00, indicating an overwhelmingly negative rating for the company.
Mutual of Omaha Burial Insurance Customer Reviews
Kandis M
5/5
“What makes Mutual of Omaha so special to me is their consistency. I’ve been with them for over 20 years. They are solid, dependable, and trustworthy. They do not raise their rates often, and when they do is because they have to keep up with market rates and the economy. I have been extremely happy with them as customer and as an agent who represented them before my retirement. I am a happy camper customer.”
Sonya S
5/5
“[…]The fact that Mutual of Omaha moved so fast, it now allows our family to have the liquid funds to pay for services, our travel, rental cars and other essentials needed for these end of life family arrangements. It’s already a tough time to lose a loved one. Having the funds to take care of the services is the biggest blessing!!
We are so grateful to this company, and their business model that shows more humanity than most.
My family and I HIGHLY recommend Mutual of Omaha for life insurance!
Thank you!!”
Clint C
1/5
“As POA for a dementia patient in a memory care facility, I have been trying for over THREE MONTHS to refute their cancellation of his long term care insurance due him forgetting to make his payment! They have used every BS excuse, certified letters ignored, discussions with supervisors dead ended, unreasonable demands for reinstatement plus broken promises by MANY to follow through and correct the situation. Now seeing the consistent one star (should be minus stars) reviews, the pattern is OBVIOUS this company is DISHONEST on every level!!”
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. All in all, 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.
Want 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 features are offered with Mutual of Omaha burial insurance?
Some features that are offered with Mutual of Omaha burial insurance include competitive rates, generous death benefits, options if you have a pre-existing condition or are a smoker, as well as term life and universal life coverage plans for younger applicants looking for a policy.
Is Mutual of Omaha life insurance legit?
Yes—Mutual of Omaha life insurance is legit. Mutual of Omaha is not only a legitimate coverage provider but is also praised for great rates, reliable customer service, and a strong financial basis.
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 a 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 according to Mutual of Omaha’s underwriting guidelines.