Mutual of Omaha Life Insurance Review

Mutual of Omaha Life Insurance is a dependable option due to its high financial ratings and more than a century of business expertise. With a laid-back attitude toward high-risk applicants and thrill-seekers, it stands out from the crowd. It also offers guaranteed issue insurance, to see what other options you have check out our Mutual of Omaha Life Insurance Review.

Mutual of Omaha life insurance rates

Mutual of Omaha Life Insurance Review - Mutual of Omaha Life Insurance Logo

The prices of Mutual of Omaha aren’t made public, and premiums vary widely depending on your age, gender, health, and other personal characteristics.

What affects my rate with Mutual of Omaha?

Mutual of Omaha offers its best rates to people who are in good health and conduct healthy lives. Prefer plus, prefer, prefer, standard plus, and standard are the four tiers of rate classes.

Underwriting takes your health and way of life into account in a few different ways:

  • Tobacco use. Those who pass a urine test will get the greatest deals.
  • Medical history in the family. For those under 60, your rates are based on your family’s history of cancer, diabetes, and other causes of death.
  • The pressure in your blood vessels. Those with treated or untreated blood pressure levels of at least 130/80 receive the highest discounts.
  • Cholesterol. High-tier rate classes can have a maximum level of 300.
  • Hobbies and occupations. Even pilots can get high-tier rates with an aviation exclusion rider.

How to get a quote from Mutual of Omaha life insurance

Following these steps will allow you to submit an online insurance application:

  1. Click Get a Quote from the Mutual of Omaha life insurance website.
  2. Go ahead and enter your name and date of birth to get a quote. Depending on the insurance coverage, you may also be asked a few health-related questions.
  3. A price will be sent to you. To proceed with the application process, click Apply Now if you are satisfied with your quote.
  4. Then check and sign all of your documents when you finish filling in your personal information and contacts. After that, the insurer will go through your application and get back to you with an acceptance or rejection message.

What happens next?

You can register your account online if you’ve been authorized for coverage. You can keep an eye on everything from there.

What types of life insurance coverage does Mutual of Omaha offer?

Mutual of Omaha is a life insurance company that provides term, whole, and universal policies.

  • Term Life Answers. This simple term life insurance policy provides coverage up to $1 million and is available in 10-, 15-, 20-, and 30-year durations. These plans can be changed to whole-life insurance at any time prior to reaching the specified retirement age.
  • Term Life Express. Fast-tracked underwriting is available for consumers who require less than $300,000 in coverage under this no-exam policy. Permanent life insurance is an option that may be purchased under the same conditions as a conventional policy.
  • Living Promise. This is a full life insurance policy from Mutual of Omaha, however it’s marketed as a burial insurance policy. This eliminates the requirement for a medical checkup, and your policy’s cash value component generates interest at a set rate regardless of how long you keep it.
  • Accumul Answers. Essentially, this is a universal life insurance policy with a fixed interest rate that builds cash value over time with a minimum 2 percent annual return guarantee.
  • Life Protection Advantage. An indexed universal policy with assured coverage and cash value growth.
  • Income Advantage. Index-linked cash value insurance, like the previous choice. The insurance provides downside protection, which means that even if the market moves, you’ll still earn at least o percent in returns.

Does Mutual of Omaha offer burial insurance?

Yes. Burial insurance from Mutual of Omaha is provided to seniors 45 to 85 years old, or 75 years old in New York. The cost of insurance starts at $2,000 and may go as high as $25,000. As a result, you won’t have to complete a health questionnaire or have a medical exam in order to qualify for coverage under this policy.

There is a two-year waiting period before the policy takes effect. To put it another way, your dependents will only get a payment equivalent to the premiums you’ve paid, plus 10%, if you die within the first two years after purchasing the insurance. Your beneficiaries will be eligible for the entire benefit amount after two years.

What riders can I add to my policy?

Mutual of Omaha, like the majority of big insurers, gives policyholders the option to add riders to their policies to personalize their protection. You might be able to get your hands on some of these:

  • Accelerated death benefits riders. If you are diagnosed with a terminal disease, you may be eligible for an early payout of up to 80% or $1 million.
  • Rider for accidental death insurance. If you’re killed in an accident, you’ll get an extra bonus.
  • Riders who are under the age of 18. This feature allows you to extend your policy’s benefits to your dependent children, who can then convert their coverage when they reach adulthood.
  • Spouse rider. Extends your policy’s coverage to your spouse, with rates dependent on your own age-related health.
  • A rider for your homeowners insurance that covers things like dental and vision care. A temporary extension of your permanent policy’s coverage can be purchased.
  • Rider waiving the right to a higher price. If you become suddenly jobless, your monthly premium is waived.

Mutual of Omaha life insurance reviews and complaints

It’s been recognized by the BBB since 1940, and it has an A+ rating because of its commitment to its customers. There have only been 118 complaints filed against the firm in the previous three years, all of which were immediately settled. The company serves nearly 4 million policyholders.

According to the current customer satisfaction research by J.D. Power, Mutual of Omaha came in fifth place out of 22 insurers polled, earning 4 out of 5 circles, which is the second-highest score.

For another life insurance review, visit our review of Midland National Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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