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Last updated on Apr 03, 2020

Mutual of Omaha Life Insurance Review

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Mutual of Omaha

  • An established insurance company with an excellent customer service reputation
  • Flexible underwriting policy
  • Easy-to-use website
  • Additional riders, such as children’s whole life insurance and accidental death
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How We Reviewed Mutual of Omaha Life Insurance

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7 companies compared

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3 features evaluated

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5 ratings analyzed

Mutual of Omaha Life Insurance Review

Mutual of Omaha has several life insurance policies, including whole, term, and universal life. In addition to these policies, it also offers options such as children’s whole life insurance and accidental death, which promises guaranteed coverage.

Furthermore, it features an interactive website, which allows you to browse through the coverage options and find support. The company also achieves excellent ratings for its customer service, as evidenced by top ratings from the Better Business Bureau and J.D. Power.

ProsCons
Easy-to-use website
Flexible qualifications for life insurance policies
Excellent customer service
Lack of customization options

The Life Insurance Factors We Analyzed

Customer experience

Mutual of Omaha makes it easy to access the information you need. You can read about its policies online, calculate a quote, or contact an agent. Moreover, the company earns an excellent reputation thanks to its great customer service. Mutual of Omaha had fewer than the average number of complaints in 2018, according to the National Association of Insurance Commissioners. The ranking places Mutual of Omaha right in line with other reputable carriers like Guardian Life.

Another driver of customer satisfaction comes from J.D. Power, which conducts surveys with customers of a particular company. In J.D. Power’s Life Insurance Study, Mutual of Omaha earned a four out of five rating, placing it near the top of the pack.

Financial strength

When searching for life insurance companies, the financial strength of the company is an important consideration. Simply, you want to ensure it has the assets on hand to pay out on claims. Mutual of Omaha earns high ratings from each of the three major independent ratings agencies: AM Best, Moody’s, and S&P Global. These ratings are especially important given that you may be with a provider for the rest of your life.

Coverage and rider information

Mutual of Omaha offers several kinds of life insurance, including term life and permanent life insurance. It’s one of the most flexible providers regarding health conditions, as it will let you buy a policy if you or a loved one has had cancer before, provided you meet its eligibility requirements. This is an important distinction; other providers might rule you as ineligible if you’ve had cancer.

Moreover, it also has optional riders, such as whole children’s life insurance and accidental death insurance. In the case of accidental death, you cannot be turned down for coverage as long as you fall within the age requirements. And, if you ever need to convert a term life policy to a permanent, Mutual of Omaha allows you to do so. It does lack the breadth of add-ons that some other providers offer, but if you’re looking for a basic policy, Mutual of Omaha may suit you.

Life insurance coverage features

Insurance types offeredTerm, whole, universal, indexed universal, variable universal
Term lengths offered10, 15, 20, and 30 years
Standout coverage featuresDoesn’t exclude prospective customers if they’ve had cancer in the past
Term-to-permanent conversion
Whole life insurance policy for children

*Options vary by state.

Mutual of Omaha Life Insurance Overview: Financial Strength, Availability, and History

Mutual of Omaha has established an excellent reputation for itself. It earns the highest rating the BBB can bestow (A+), and it receives exceptional marks across all financial rating agencies. This indicates that the company has the financial strength needed to pay claims and debts.

  • In business since: 1909
  • S&P Global financial strength rating: A+
  • Moody’s financial strength rating: A1
  • AM Best financial strength rating: A+
  • States served: 50

The Competition

RankReviews.com ScoreCustomer Experience ScoreFinancial Strength Score
Mutual of Omaha54.2/53.7/54.3/5
Mutual of Omaha14.9/55/54.7/5
Mutual of Omaha24.8/55/54.3/5
Mutual of Omaha34.5/54.3/53.7/5
Mutual of Omaha44.4/54.3/54.7/5
Mutual of Omaha64.2/53.7/54.3/5
Mutual of Omaha74.1/54/54.3/5

All information accurate as of February 5, 2020.

The Bottom Line

Mutual of Omaha is a great option to consider if you’ve had health issues in the past, most notably cancer, as this won’t necessarily discount you from buying a policy. It is pretty scant on add-on options, so its policies aren’t as customizable as those from its competitors. However, it’s still worth getting a quote; it’s possible that Mutual of Omaha will offer you all the coverage you need at a price you’re comfortable paying.

Mutual of Omaha Life Insurance FAQ

About the Authors

Sean Jackson

Sean Jackson Contributing Writer

Sean Jackson is a freelance journalist who has covered insurance, internet, home services and other topics for Reviews.com, ESPN, CBS, and the San Francisco Chronicle.