Mutual of Omaha Life Insurance Review 2021

Mutual of Omaha is a well-established life insurance provider. They have excellent financial and customer ratings. We like their final expense product the most.
Author: Ben Peetermans
Last updated: July 7, 2021

Our take on Mutual of Omaha

Mutual of Omaha is a company with a strong financial background. Their experience dates back to 1909, which has translated itself to superior customer service.

But, Mutual of Omaha isn’t the cheapest option for life insurance. Are they worth the cost? We believe so, at least for their term life insurance with an exam, and final expense insurance. We feel their term life insurance without a medical exam is overpriced.

Their products often include riders for free. Other insurance companies can be more affordable but charge you an additional fee for these riders.

We like Mutual of Omaha’s product called Living Promise. It’s a whole life insurance policy, which is a popular choice for seniors. If you are between ages 45 and 85, you’ll be able to get $2,000 – $40,000 in coverage. Since this is a whole life policy, you don’t have to worry about renewing terms or policy end dates.

What we like

The company has over a century of experience

Mutual of Omaha was founded in 1903. During this time, Mutual of Omaha has always focussed on offering exceptional service. And that has translated itself into a high customer rating.

Exceptional financial history

Financial stability in a life insurance company is important. If the company has financial issues that may endanger your life insurance claim. Mutual of Omaha has held an excellent financial rating with A.M. Best and S&P.

What we don’t like

Their pricing isn’t competitive

While you can argue that Mutual of Omaha’s pricing is justified, there is no denying that they are more expensive than others. For many individuals shopping for life insurance, pricing comes first. If that’s the case for you, chances are likely Mutual of Omaha isn’t the best choice.

Mutual of Omaha’s Life Insurance Products

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4.0/5
Mutual of Omaha offers every life insurance product you could desire. This includes term, whole, universal, accidental death & dismemberment, and more.

Term

Mutual of Omaha offers term life insurance, both with and without a medical exam. More and more individuals are leaning towards the convenience of a no-exam term life insurance policy.

The cost difference has become less of a gap in recent years. If you are in good health and seek under $350,000 in coverage, you could qualify to skip the medical exam.

Additionally, Mutual of Omaha’s term life insurance can be converted to a permanent policy. This conversion option is something most term life insurance policies lack.

Qualifying applicants can skip the exam

If you are healthy and apply for $350,000 or less in life insurance coverage, Mutual of Omaha could waive the medical exam.

Conversion option

You can convert the term life insurance policy into a permanent policy.

More expensive than others

Term life insurance itself is a very straightforward policy. The cost increase for Mutual of Omaha’s term life insurance causes many individuals to look elsewhere.

Final expense

When it comes to final expense insurance, we recommend Mutual of Omaha. For this type of insurance, their cost is competitive. Additionally, the product “Living Promise” features various benefits, justifying the small potential cost difference.

If you are between ages 45 and 85, you’ll be able to get $2,000 – $40,000 in coverage. Since this is a whole life policy, you don’t have to worry about renewing terms or policy end dates. Additionally, there is no medical exam to worry about. Instead, you’ll answer a few simple health questions.

A medical exam is not required

The Living Promise product does not require a medical exam. Instead, you’re qualified by answering some health questions.

Level benefit for healthy applicants

If you are in average or better health, you’ll enjoy full benefits from day one.

Healthy individuals can qualify for Mutual of Omaha’s level benefit. Those in less than average health are likely to qualify for a graded benefit policy.

Level benefit specifications:

  • For ages 45-85
  • Face amounts from $2,000 to $40,000
  • The death benefit will pay in full from day 1
  • Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement
  • Optional: Accidental Death Benefit Rider

Graded benefit specifications:

  • For ages 45-80
  • Face amounts from $2,000 to $20,000
  • The death benefit will pay in full 2 years after the policy goes into effect. If you pass away in the first 2 years, your beneficiaries will receive any paid premiums plus 10% interest.

Cancer, heart attack and stroke insurance

Mutual of Omaha offers a unique type of insurance for cancer, heart attack, and stroke. Unlike life insurance, these critical illness plans pay while you are alive.

Cancer insurance is their most popular critical illness plan. You can get between $10,000 and $100,000 in coverage. If you are diagnosed with cancer, Mutual of Omaha will pay this in a lump-sum payment.

Additionally, Mutual of Omaha will pay for various health-related treatment costs. This includes medication, surgery, and more.

Learn more about Mutual of Omaha’s cancer insurance.

Pays while you are living

You will receive a lump-sum payment as soon as you are diagnosed. Additionally, most health-related expenses are covered.

Only covers specific health conditions

For most people, this isn’t a great alternative to life insurance. Instead, it’s an additional policy to provide added peace of mind.

Policy benefits

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4.8/5
Mutual of Omaha offers every life insurance product you could desire. This includes term, whole, universal, accidental death & dismemberment, and more.

Conversion options

Mutual of Omaha’s term life insurance policies include a conversion option. This allows you to convert the term policy into a permanent life insurance policy. This is something many life insurance policies lack. Even if you feel you won’t ever need permanent life insurance at this point, things could change.

Say you got a 20-year term policy at age 40. Once you’re age 60, your life is likely to be a lot different than it is now. You may not need as much coverage as you initially got with your term policy. But having a permanent policy at this stage in life can make sense.

It could provide enough coverage for funeral expenses and other debt. And since you have the option to convert your existing policy, you won’t have to undergo a new application.

Riders

Mutual of Omaha provides various benefits and riders. These are already included in your policy, or you can add them at an extra fee. If you want to know the ins and outs, you can always speak to a True Blue agent. They will tell you what riders you can expect for free, and which are worth paying for. Additionally, some riders are excluded in certain states.

Common Mutual of Omaha riders:

  • Accidental Death Rider – This rider pays additional benefits if the cause of death is due to an accident. Many individuals buy an Accidental Death policy separately since it’s so affordable. But with a Mutual of Omaha policy, you’ll enjoy it built-in to your policy.
  • Accelerated Death Benefit Rider – This rider goes in effect if you are diagnosed with a condition resulting in a life expectancy of 24 months or less. In that case, Mutual of Omaha will pay you up to 92% of your death benefit. This payment comes in a lump-sum payment. After this payment, your policy will be terminated.
  • Disability Waiver of Premium Rider – This rider goes into effect if you become disabled due to a qualifying event. The life insurance premiums will be waived, after a 6 month waiting period.
  • Chronic Illness Rider – If you cannot perform 2 or more of 6 daily activities for 90 consecutive days, Mutual of Omaha will pay up to 80% of your death benefit.

Cost

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4.0/5
Mutual of Omaha's life insurance is typically more expensive than competitors. But their outstanding ratings and products justify the price difference in most cases.

Is Mutual of Omaha the cheapest life insurance provider? No. But the cost difference between their policies, and cheapest competitors, is usually justifiable. Take the conversion option for their term life insurance products, for example. Many low-cost policies do not include this.

This goes for additional riders as well. If you were to die due to an accident, your policy would pay extra benefits. If you become unable to work, unable to perform daily activities, Mutual of Omaha has you covered.

While these riders and features aren’t necessarily unique to Mutual of Omaha, they are hard to find in cheaper policies.

Lastly, Mutual of Omaha has a strong financial and customer rating. This allows you to have added peace of mind, knowing your policy is in good hands.

Competitive pricing for term life insurance with an exam

Mutual of Omaha isn’t the cheapest when it comes to term, but it remains competitively priced. Additionally, it includes many benefits and riders that relative policies don’t have. We feel that this justifies the slight price difference.

Excellent pricing for final expense

Mutual of Omaha offers great pricing on their final expense product. Additionally, the age at which it is available is lower than usual. And, if you are healthy, it’s likely the policy will offer a level-benefit from day one.

Expensive term life insurance without an exam

There are many more affordable alternatives if you are shopping for term life insurance without a medical exam. When we compared rates, the cost for term policies without an exam was more than double of competitors.

Mutual of Omaha’s term life insurance cost

We find that Mutual of Omaha’s term life insurance with a medical exam is relatively competitive. A healthy 30-year old male living in California could get $100,000 in term life insurance for $9 to $15/month. Mutual of Omaha charges $11/month.

But their rates without a medical exam are 50% to 100% more expensive than others. That same 30-year old individual could pay $10-$20 for a term policy without a medical exam. Mutual of Omaha would charge around $22/month.

Mutual of Omaha’s final expense cost

Their cost for final expense life insurance is competitive.

An individual age 65 could get $10,000 in level benefit life insurance for $56/month. Competitors charge around $50 to $70 for the same policy.

Performance

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5.0/5
Mutual of Omaha has excellent financial ratings, provided by 3rd party organizations such as S&P and A.M. Best.

Financial ratings

Overall, Mutual of Omaha has an excellent financial rating. This means that they are extremely likely to meet their financial obligations, like paying out death benefits.

  • S&P Rating: A+ – Excellent
  • A.M. Best Rating: A+ – Excellent

Customer reviews

4.9 /5
Based on 103 reviews

Excellent
93%
Great
6%
Average
1%
Poor
0%
Bad
0%
May 27,2021
Jennifer is the best! She answers all my questions and is very sweet.. We are lucky to have her as out agent!!
Wendy Deal
Agent: Jennifer Plisch
May 21,2021
Cheryl made the process fast and easy!
Derrick Rogers
Agent: Cheryl Schlenkert
May 06,2021
Applying for Life Insurance was super easy and very quick!Thank you! D’Ann
D'Ann (Ry'Leigh) Deleon (Vela)
Agent: Jennifer Plisch
Apr 19,2021
Excellent experience with Jennifer. She was very helpful. I would definitely recommend her.
Dale Flemming
Agent: Jennifer Plisch
Mar 15,2021
Easy and convenient approvals
Bishop Davis
Agent: Taylor Calacci
Mar 14,2021
She was very helpful and knowledgeable and friendly.
Jermain Washington
Agent: Cheryl Schlenkert
Feb 01,2021
She is very kind and efficient.
Baronne Barth
Agent: Jennifer Plisch
Dec 23,2020
Jennifer, was excellent at the question I were needing help with. She was friendly, nice, an a huge relief. I will pass on her information to some more senior’s in need of help with insurance. Thank you for being so kind a helpful. Tammy Jackson
Tammy Jackson
Agent: Jennifer Plisch
Dec 19,2020
Aaron Udel was very helpful and had all the information I needed. He was also very professional. I would recommend to anyone looking to buy insurance. He made it much easy for me to decide.
Brenda Hagemann
Agent: Aaron Udell
Dec 14,2020
Aaron was absolutely wonderful to work with! He took the time to answer all my questions and made the process so smooth. I am very happy I took the time to answer the call from him! A definite asset to your company!
Camilla Senteneri
Agent: Aaron Udell
Nov 29,2020
Jennifer plisch is excellent salesman you have a keeper hang on to her
Kim Turpin
Agent: Jennifer Plisch
Nov 24,2020
Taylor and Kathy were amazing. They made the entire process simple and painless. Their knowledge and professionalism was incredible and I will be recommending them to all my family and friends.
Stephen Decrescenzo
Agent: Taylor Calacci
Oct 16,2020
Great,very helpful easy
Clair Ashley
Agent: Daniel Price
Sep 24,2020
It was pleasant and Mrs. Jen was very helpful.
Mason Garmer
Agent: Jennifer Plisch
Sep 11,2020
Excellent experience a lot of different policies so you can get the one that fits you the best
Gregory Smith
Agent: Jennifer Plisch
Aug 21,2020
It was a very fast and easy process.
Jeffery Hampton Jr.
Agent: Jennifer Plisch
Jul 03,2020
The process was user friendly and the customer service was high quality!
Kevin Wilson
Agent: Nikki Walker
Jun 28,2020
GREAT TO DEAL WITH YOU.FAST AND VERY EFFICIENT.
Ford King
Agent: Aaron Udell
May 10,2020
Excellent!! Being insured in the company give me peace of mind. My family is protected in case anything happens. The application process was very fast and easy.
Justin Choi
Agent: Aaron Udell
Apr 23,2020
I have been a client of Jennifer for a long time, and I have always received impeccable service. She is a true professional, and always makes sure that her clients are satisfied and receive the best service possible. She also makes everything very clear and easy.
Tammie Davis
Agent: Jennifer Plisch
Apr 09,2020
It was a walk in the park
Michael Gollihugh
Agent: Julie Greenberg
Mar 31,2020
Very smooth process.
Antoinette Moore
Agent: Jennifer Plisch
Mar 31,2020
Easy and fast with no problems!
Chad Billingsley
Agent: Jennifer Plisch
Mar 18,2020
My experience was excellent with no problems.
John Carradine
Agent: Brandon Potter
Mar 10,2020
Very good, seamless process..
Timothy Fitzpatrick
Agent: Julie Greenberg
Jan 18,2020
Fast easy reliable and efficient
Sheila Estes
Agent: Nikki Walker
Dec 15,2019
My experience with Cheryl was excellent, she has a very good personality with clients.
Roger Miller
Agent: Cheryl Schlenkert
Oct 03,2019
Jennifer Plisch worked hard to get the affordable term life coverage that I needed when everyone else either told me I was uninsurable or wanted to put me in a table rated policy. Thanks a bunch!
Eric Mutnan
Agent: Jennifer Plisch
Aug 27,2019
Simple and easy. I like the docusign.
Gary (Renard Jr.) Smith
Agent: Jennifer Plisch
Aug 20,2019
Was easy and thorough.
Timothy Hart
Agent: Jason Alper
Aug 20,2019
I’ve spoken to many insurance agents in my life, but none more knowledgeable and caring, than Jen Plisch, a true professional.
Robert Librizzi
Agent: Jennifer Plisch
Aug 13,2019
Great experience applying for life insurance. Easy application and all went quick and smooth.
Tammy Stehnike
Agent: Jennifer Plisch
Aug 13,2019
Jason Alper provided excellent service in October 2018. He guided me through my options and was very clear and patient. It is now August 2019 and I called him because I needed information regarding my policy. He assisted, without hesitation! I'd give him six stars if I could!
Sushan Arora
Agent: Jason Alper
Aug 02,2019
The process was painless. If I had only known how quick and easy it would be I would have called long ago.
Lyle Turner
Agent: Jennifer Plisch
Jul 01,2019
Easy process with Jason Alper.
Jake Edwards
Agent: Jason Alper
Jun 27,2019
Excellent experience with application process
Joel Gordon
Agent: Jason Alper
Jun 08,2019
The phone interview was tedious, but end result was worth it.
Amanda West
Agent: Jason Alper
Jun 06,2019
A great term product and a very fair price!
Bradley Prestwich
Agent: Jason Alper
May 25,2019
fine everything in timely manner
Jay Opre
Agent: Jason Alper
May 02,2019
Mutual of Omaha is a well established company. Want you to know that Jason Alper was very helpful and caring. Thank You all getting my family and I the security of have a great coverage we hope we never need but if we do then my family is covered. Thanks Anthony Stine
Anthony Stine
Agent: Jason Alper
Apr 26,2019
Jason made the process really understandable and comfortable. I'm wasnt sure how to go about selecting a policy and he helped make it a breeze.
Leah Pufahl
Agent: Jason Alper
Apr 22,2019
Ken was great. He was professional, knowledgeable and efficient. I highly recommend his services.
Roni Kaufman
Agent: Ken Kaufman
Mar 18,2019
Obtaining life insurance was very easy with True Blue - we had tried other sites and the process was confusing and difficult.
Carol Woodyard
Agent: Cheryl Schlenkert
Mar 17,2019
Coverage is great. Price is reasonable.
Casey Thompson
Agent: Jason Alper
Mar 06,2019
From the use of the policy search and quote service online to the clear and pain-free application by telephone to the notification of approval, True Blue came through with flying colors. My agent, Jason, and all of the staff were consistently caring, knowledgeable, and helpful in every way. I don't see how you could go wrong with True Blue.
Richard Miller
Agent: Jason Alper
Mar 05,2019
The whole process was very easy. I received my policy in less than 2 weeks.
William Barrett
Agent: Jason Alper
Feb 27,2019
GREAT EXPERIENCE... could not be any easier.
Sonia Caraballo
Agent: Nikki Walker
Feb 27,2019
Took a while to get all necessary papers but they helped the whole way
Mary Mick
Agent: Bob Young
Feb 25,2019
Easy process. Easy to understand
Kalliopi Annenos
Agent: Ken Kaufman
Feb 13,2019
Fast easy efficient
Randy Miles
Agent: Jason Alper
Jan 22,2019
Response was prompt and overall the experience was easy.
Kierstyn Hayducka
Agent: Jason Alper
Jan 19,2019
Excellent tambien , quick and painless
Steven Borg
Agent: Jason Alper
Jan 14,2019
Fantastic service. Jason was patient and worked with us on every question and concern we had.
Roy White
Agent: Jason Alper
Dec 18,2018
Mutual of Omaha was excellent
Joliyah Walker
Agent: Jason Alper
Dec 18,2018
No real experience yet, but so far, so good!
Carrie Walker
Agent: Ken Kaufman
Dec 15,2018
Good experience with wonderful Agent.
Nancy Young
Agent: Bob Young
Dec 14,2018
Very good!! I am happy with the service.
Melissa Alain
Agent: Jennifer Plisch
Dec 14,2018
Loved Wild Kingdom.....
Neil Mitchell
Agent: Jennifer Plisch
Dec 10,2018
Once again, my experience with Cheryl was excellent. She helped me find a policy for my son through Mutual of Omaha.. Then once it was all approved, Mutual of Omaha followed up with me and let me know my policy was approved. Overall, my experience with True Blue, Cheryl and Mutual of Omaha was painless and quick. Thank you everyone!
Nathan Grover
Agent: Cheryl Schlenkert
Nov 21,2018
Good rates and good service.
Charles (Brittney) Leach
Agent: Jennifer Plisch
Nov 20,2018
HVe not heard from them besides my independent agent. However approval was fast and simple!
Christy Kim
Agent: Jason Alper
Nov 17,2018
I'm pleased to have my policy with Mutual of Omaha - they have a wonderful reputation and they've been in business for years!5 Stars
Lisa (Hazel) Arnel
Agent: Jennifer Plisch
Nov 05,2018
Very pleasant people to talk to
Jeffrey Ludwig
Agent: Nikki Walker
Oct 12,2018
Awesome overall experience!
Violeta Cudal
Agent: Jennifer Plisch
Sep 28,2018
my overall experience was awesome and encouraging.
Fred Otabor
Agent: Nikki Walker
Sep 28,2018
Fast approval, good rates
Michael Biafore
Agent: Jennifer Plisch
Sep 27,2018
Very affordable and amazing customer service.
Princess Ofordile
Agent: Nikki Walker
Sep 14,2018
Professional and fast in approval.
Clara Orosco
Agent: Jennifer Plisch
Sep 07,2018
Very satisfied with the insurance agents and coverage
Bobby Staggs
Agent: Jennifer Plisch
Sep 06,2018
THEY DESERVE A FIVE STAR AWARD. THEY SUURE HELP A POTENIAL CUSTOM TO UNDERSTAND.
John Slater
Agent: Jason Alper
Aug 23,2018
Very Good. Mutual of Omaha speaks for its self.
Alese Bennett
Agent: Jennifer Plisch
Aug 14,2018
Approved me for the amount I was needing at an affordable price.
Joe Ferguson
Agent: Jennifer Plisch
Jul 30,2018
Good so far. Only my first month so I haven’t had to call over any issues.
Gavyn (Tiffany) Weeks
Agent: Jennifer Plisch
Jul 17,2018
Quick and easy set up
Aaron Dryer
Agent: Jennifer Plisch
Jun 22,2018
100% awesome very nice person quick and kind.
Scott Lumley
Agent: Jason Alper
May 30,2018
Excellent, thank you very much.
Ralena Wright
Agent: Cheryl Schlenkert
May 13,2018
Jason was the best agent with whom I have ever dealt!!!!!
Charles Etzweiler
Agent: Jason Alper
Apr 30,2018
My experience has been great.
Duel Foreman
Agent: Jennifer Plisch
Apr 20,2018
Thank you for providing a life insurance policy that was so easy to obtain. A simple interview by phone took care of everything!
Linda Whiteman
Agent: Jennifer Plisch
Apr 05,2018
Wonderful experience will work with this company again
Myra Williams
Agent: Jennifer Plisch
Apr 04,2018
Fast processing and quick to meet our needs
Mylan McDowell
Agent: Jennifer Plisch
Apr 03,2018
Fast in getting insurance approved.
David King
Agent: Jennifer Plisch
Mar 25,2018
Very hard to believe they could not accept my credit card payment. Had to do a bank draw. Should be a very simple transaction.
Steven Lutke
Agent: Jennifer Plisch
Mar 13,2018
So far so good! I will be a life loyal customer!
Terry Schoolmaster
Agent: Jennifer Plisch
Jan 26,2018
Jen was extremely helpful and patient. It was a pleasure working with her
Billie Oliver
Agent: Jennifer Plisch
Jan 25,2018
They have great productd
Scott Shook
Agent: Jennifer Plisch
Jan 25,2018
Very satisfied Nothing to complain
Mersila Justin
Agent: Jennifer Plisch
Jan 11,2018
I am very pleased with my policy and the customer service from Jennifer Plisch.
Jamaal Davis
Agent: Jennifer Plisch
Dec 29,2017
Good coverage for what I need
David Williams
Agent: Jennifer Plisch
Dec 26,2017
Great company so far
Cheryl Lund-Haddock
Agent: Jason Alper
Dec 22,2017
Great product and very good experience!Best Regards, Barry Simmons
Barry Simmons
Agent: Jennifer Plisch
Nov 30,2017
I have only gotten an email stating that I was approved but nothing in the mail yet. They have a pretty good reputation though.
Twana Phelps
Agent: Jason Alper
Nov 29,2017
Great insurance company !!!!!!!
Markeith Meadows
Agent: Jason Alper
Nov 25,2017
I already have a couple policies with Mutual of Omaha, so this last one fit right in.
James Moore
Agent: Jason Alper
Sep 18,2017
Easy Transactions. Very Good
Tong Tran
Agent: Jennifer Plisch
Sep 14,2017
Best price for the same policy quoted by another company.
Melissa Wheeler
Agent: Jason Alper
Aug 18,2017
I don't have much to say right now as it's a new policy but I can say I like their prices
Nicole Jarvis
Agent: Jennifer Plisch
May 29,2017
Easy. Great experience.
Timothy Robbins
Agent: Jennifer Plisch
May 03,2017
We have not really had any dealings yet with the company but the prices are affordable. I would rate them at the top.
Shirley Schwebs
Agent: Cheryl Schlenkert
Apr 05,2017
Mutual of Omaha has been great to work with, good product and good services.
Amanda Alley
Agent: Jennifer Plisch
Jul 14,2016
Omaha approved application quickly and mailed policy information right away
Ivonne Arrieta
Agent: Jason Alper
Apr 28,2016
Service, information and experience was excellent.
Robert Wichert
Agent: Jason Alper
Jan 22,2015
As expected. Professional
Mary Owens
Agent: Brian Mcsweeney

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About the author
Ben Peetermans author
Ben Peetermans
Life Insurance Expert
Ben Peetermans is a life insurance editor. He enjoys blogging about various topics, including finance. He has been writing about insurance since 2015. Ben has been featured in various press outlets including FOX, CBS, and NBC.