Physicians Mutual Life Insurance has been around since 1902, but what do Physicians Mutual reviews say about the company and their products now? Is it worth purchasing a policy from Physicians Mutual? Or would it be better to pick a different final expense coverage provider?
Here at Final Expense Benefits, we’re dedicated to providing you with the answers you need so that you can make the best choice on your life insurance plan. Get familiar with Physicians Mutual’s policy options, pros and cons, customer reviews, and discuss their financial standing today.
Interested in applying for coverage with Physicians Mutual? Call Final Expense Benefits at (866) 786-0725, Monday through Friday, 9 a.m. to 5 p.m. ET to learn more, or check out our free online quoting tool for personalized rates.
Key takeaways
- Physicians Mutual offers final expense, term life, and whole life children’s policies.
- Physicians Mutual’s burial insurance rates remain competitive when compared to other top-rated providers today.
- Physicians Mutual’s final expense plan is a guaranteed issue policy—meaning seniors must wait two years before receiving full death benefit payouts.
- Even though they’ve received accolades from third-party services, the average Physicians Mutual customer is negative online.
The Brief History of Physicians Mutual Life Insurance
Physicians Mutual was founded in 1902 by Edwin E. Elliott, and the company began by selling health insurance to medical professionals. By 1962, their coverage policies were offered to the public, and in 1970, Physicians Mutual expanded into life insurance. And, in 2012, the company began offering funeral pre-planning, which addressed the increasing demands of funeral home owners and the families they represent.
Today, Physicians Mutual Insurance Company is located in Omaha, Nebraska, and is currently run by its President and CEO, Robert Reed. The company holds more than $4 billion in assets and employs over 1000 people.
Physicians Mutual Life Insurance Coverage Options
Currently, there are three options for life insurance coverage at Physicians Mutual: final expense insurance, term life insurance, and children’s life insurance.
Physicians Mutual Final Expense Insurance
Physicians Mutual’s only form of whole life coverage is their final expense policy. However, their final expense plan is guaranteed acceptance.
This insurance option is available for adults aged 45 to 85. No medical questions or health exams are needed for approval, but because acceptance is guaranteed, a two-year waiting period applies. If you pass away during the waiting period, your beneficiaries will receive the premiums back plus 10% interest, but they will not receive the full death benefit. And, as a form of whole life coverage, your premium rates will never change, and coverage will last forever as long as you keep up with payments.
Are you a senior in the market looking for coverage? Try contacting Final Expense Benefits at (866) 786-0725, Monday through Friday, 9 a.m. to 5 p.m. ET, or use our online quoting tool to get more information on rates today.
Physicians Mutual Term Life Insurance
Term life insurance with Physicians Mutual only lasts 10 or 20 years. Those aged 60 or younger can apply for a 20-year term, while seniors aged 61-70 can get a 10-year term. To qualify for term life coverage, you won’t have to take a medical exam but will have to answer health questions.
If you’re over the age of 80 and looking for insurance, Final Expense Benefits works with a variety of providers that can provide you and your loved ones with the coverage you all need.
Physicians Mutual Children’s Life Insurance
Physicians Mutual offers a whole life insurance option for minors. Much like other whole life policies, it provides permanent coverage with locked rates. To qualify for coverage here, two health questions about the child must be answered for approval. Additionally, when the insured child turns 21, the death benefit of the policy will double.
If you are looking for life insurance for your child, check out some of the top life insurance carriers and find an affordable plan.
The Pros and Cons of Physicians Mutual Life Insurance
Pros
- Can’t be denied for pre-existing conditions
Physicians Mutual’s final expense coverage is a modified whole life policy; no health questions will be asked, and your acceptance is guaranteed.
- Competitive Prices
Compared to other providers, Physicians Mutual offers low prices for guaranteed issue insurance. - Quotes, application options available online
Anyone interested in applying for coverage can use Physician Mutual’s website and receive personalized quotes or start the application process online.
Cons
- Low coverage amount
When compared to other life insurance companies, Physicians Mutual’s final expense coverage is capped at $20,000.
- No immediate whole life coverage options
For their burial insurance options, there’s a two-year waiting period for any death that is non-accidental. - Overwhelmingly negative customer reviews and feedback
While Physicians Mutual reviews are positive across third-party rating services, customers regularly claim issues with poor communication and handling of insurance claims.
Physicians Mutual Reviews: Third-Party Rating Services
AM Best
AM Best is a third-party rating service provider known for protecting consumers through their annual findings, where they evaluate companies’ credit and financial strength.
As of November 2025, the Physicians Mutual Insurance Company has received a Financial Strength rating of “A+”. Additionally, AM Best also granted the company a Long-Term Issuer Credit Rating of “aa-”, indicating a superior ability to meet their ongoing financial obligations.
BBB
The Better Business Bureau (BBB) helps customers by tracking filed company complaints, resolving related disputes, and ultimately identifying trustworthy businesses through these findings.
Physicians Mutual Life Insurance is a BBB-accredited company and boasts an A+ rating, indicating an excellent overall rating. However, through the BBB, Physicians Mutual has an average customer review rating of 1.47 out of 5.00.
NAIC
The National Association of Insurance Commissioners (NAIC) tracks customer complaints and reports them annually to protect the public. Complaints against companies are recorded and released through their annual complaint index.
As of 2024, the Physicians Mutual Insurance Company has an overall customer complaint index average of 3.49, indicating that they receive more than triple the complaints compared to other life insurance companies.
Physicians Mutual Reviews: Customer Feedback and Ratings
Gary M.
USA
1/5
“This is one of the worst life insurance companies ever. It has been two months since my mom passed, and I still haven’t gotten anything back from them for her policy claim. Every time I call, I get the runaround. I can call back three times in one day and get three different answers from from three separate representatives. I have sent in her that certificate for some reason my dad‘s death certificate and I still haven’t gotten any money from them. Horrible horrible horrible experience.”
Brian M.
USA
2/5
“Poor customer service. They do not send customers an explanation of benefits after work is done. You can telephone them and they will tell you verbally what was paid and what you still owe but no details of how those figures were arrived at. Pleasantly apologetic on telephone with a sort of “that’s the way it is” attitude.”
Patricia W.
USA
1/5
“WELL HERE WE GO AGAIN SELLING A POLICY BEFORE CUSTOMER SERVICE. TOOK THIS POLICY OUT AND WAS NOT TOLD I HAD TO WAIT 12MTHS.SO I GO TO THE DENTIST AND HAVE WORK DONE TO NOW HAVE A $2000.00 BILL WOW. WITH THIS ECONOMY I HAVE TO BALANCE A EXTRA DEBT WOW. POOR CUSTOMER SERVICE AT IT’S FINEST. PLEASE DO NOT PUT YOUR MONEY IN THIS COMPANY”
How Much Does Physicians Mutual Final Expense Insurance Cost?
Physicians Mutual Life Insurance’s final expense policy rates are competitive with some of the top-rated insurers on the market today. So, which provider should you go with?
Take a look at some of those market competitors today and see how Physicians Mutual compares:
Sample $10,000 Burial Coverage Plan Rates
| Company | Male 50 y/o | Male 60 y/o | Male 70 y/o | Female 50 y/o | Female 60 y/o | Female 70 y/o |
|---|---|---|---|---|---|---|
|
$34 |
$50 |
$70 |
$27 |
$40 |
$56 |
|
|
$31 |
$43 |
$71 |
$26 |
$35 |
$53 |
|
|
$32 |
$47 |
$75 |
$26 |
$37 |
$55 |
|
|
$31 |
$44 |
$75 |
$24 |
$33 |
$53 |
|
|
$39 |
$50 |
$61 |
$33 |
$41 |
$61 |
Final Thoughts
Physicians Mutual is a legitimate insurance company with a history of consistently fulfilling financial obligations and delivering on their policy products. And thanks to their burial insurance rates, they are a solid competitor for any senior applicants seeking guaranteed issue coverage. However, customer reviews are overwhelmingly negative due to poor customer service and difficulties relating to insurance claims.
Don’t forget to call Final Expense Benefits at (866) 786-0725 from Monday through Friday, 9 a.m. to 5 p.m. ET. Or check out our free online quoting tool and get personalized rates today.
Frequently Asked Questions
What is final expense insurance?
Sometimes known alternatively as “burial insurance” or “funeral insurance”, final expense insurance is a form of whole life coverage designed to cover end-of-life costs. Such costs can be memorial service fees, burial/cremation expenses, and other unpaid debts left by the dearly departed.
How good are Physicians Mutual reviews?
Physicians Mutual reviews across third-party rating services are strong, with many citing a proven track record for providing quality service and meeting their financial obligations. However, the Physicians Mutual reviews across numerous online review sites and forums share an overwhelmingly negative view of the company.
Is Physicians Mutual a legit company?
Yes, Physicians Mutual is a legitimate, licensed insurance provider that sells final expense coverage.
What’s the best company to get life insurance from?
There are many top-rated insurers across the market today. However, providers, like Mutual of Omaha, Foresters Financial, and Aetna Accendo, have been noted for their consistency in exemplary customer service and excellent insurance products.