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Mutual of Omaha reviews

Mutual of Omaha Life Insurance Company Review

If you’ve found your way to this page it means you’re probably doing research about the top final expense and burial insurance companies, and you’re wondering if Mutual of Omaha is the best life insurance company for you. Well, you’ve come to the right place to find out!

JustBuryMe helps life insurance seekers like you to find a final expense burial life insurance policy that works for them. This review will look at what Mutual of Omaha has to offer and how they are as a life insurance company.

Review of Mutual of Omaha

About Mutual of Omaha

Started in the great city of Omaha in 1909, Mutual of Omaha was originally called Mutual Benefit Health & Accident Association. As a family-oriented yet progressive company, Mutual of Omaha started offering working women coverage in 1917. Since then, the company has grown tremendously, but its mission to offer great coverage has remained.

Mutual of Omaha Insurance Company Ratings

It is important to point out that Mutual of Omaha has multiple insurance companies under it: United of Omaha, Companion, and United World Life Insurance.

The ratings for each are as follows:

United of Omaha/Mutual of Omaha Insurance Company

  • Standard & Poor’s: AA- (very strong)
  • Moody’s: A1 (good)
  • M. Best: A+ (superior)

Companion Life Insurance

  • Standard & Poor’s: AA-
  • M. Best: A+

United World Life Insurance Company

  • Standard & Poor’s: AA-
  • M. Best: A+

While we are giving you the ratings for all of these ratings, this review is exclusively about Mutual of Omaha/United of Omaha and their services.

Guaranteed Whole Life Insurance

Mutual of Omaha offers a guaranteed issue insurance policy that will be underwritten regardless of your health. So long as you meet the age requirement and pay your premiums on time, you will remain covered.

If you are moderately healthy you may want to consider simplified issue vs guaranteed issue.

Mutual of Omaha’s Guaranteed Whole Life Insurance Features:

  • Issue Age: Can buy the policy between ages 45-85
  • No Cancellation: Your policy will not be canceled so long as you stay on top of your payments
  • No Medical Exam or Health Questions: Good health is not a requirement for the policy to be issued, and it won’t make your policy void, ever.
  • Standard Rates: You will not have to pay higher premiums with age, illness, or inflation
  • Tax Free Death Benefit: Your beneficiary will not have to pay any taxes on the death benefit they receive (this is as per current federal laws)
  • Flexible Payment Option: You can choose to make your payments either monthly, quarterly, semiannually or annually
  • Spousal Coverage: Should you want to include your spouse on your plan, you can

Modified Death Benefit

Mutual of Omaha’s Guaranteed Whole Life Insurance has what is called a modified death benefit should you die of sickness or natural causes in the first two years after you purchase your policy. During that time, the beneficiary will receive 120% of the amount of premiums paid. After two years, the beneficiary will receive 100% of the death benefit.

What if I am terminally ill now?

If you are terminally ill now and your doctor has given you less than 2 years to live, you may be wondering if it makes sense to buy a guaranteed whole life insurance policy at this stage. When you purchase one from Mutual of Omaha, your beneficiaries will get whatever you’ve paid into the policy at the time of your passing, plus interest of 10%. And let’s suppose you outlive your doctors projections and make it past 2-years: then your beneficiaries will get the whole death benefit. It’s a win-win.

Is Mutual of Omaha a good option for a final expense policy?

This is the question you came here with; the information you really want to know. After reading, you should have a good idea that we think Mutual of Omaha is a good and reliable life insurance company. They will definitely give you great life insurance coverage, and your beneficiaries will be relieved. However, are they the best?

How do I know if Mutual of Omaha is the best life insurance company?

There is no such thing as “the best” when it comes to life insurance. Instead, there’s “the best for me”. That’s because every individual has individual needs. Mutual of Omaha may very well be the best life insurance company for you but not for your neighbor.

While we stand by our claim that Mutual of Omaha is a great company, the only way to know if they are the best life insurance company for you is to see what other life insurance companies have to offer.

JustBuryMe Can Help!

We work with dozens of life insurance companies, including Mutual of Omaha. When you call us, we will find out all of the pertinent information about you and your insurance needs. Only then will we make personalized life insurance recommendations. If Mutual of Omaha seems like it offers the best final expense or burial insurance policy for you, then we will recommend them! If not, we will recommend some other exceptional life insurance companies.

Thank you for reading our Mutual of Omaha review. Please leave any questions or comments below.