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Mutual of Omaha

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5 User Reviews

Mutual of Omaha offers many insurance products, including a wide selection of life insurance policies. You can find term, whole, and universal life policies. The insurance provider also offers accidental policies that pay a benefit for accidental deaths.

Although more customer reviews would provide valuable insight on the customer experience and the services offered by Mutual of Omaha, the company is dependable. 

Mutual of Omaha has received high financial strength ratings and has stood the test of time. These combined factors illustrate Mutual of Omaha's financial stability, so you can be confident when purchasing an insurance policy.

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The Good

  • Flexible Quote and Application Options
  • Assistance for Spanish Speakers
  • Competitive Term Life Insurance
  • Range of Permanent Policies
  • Accidental Policies
  • Employer-Sponsored Plans

Flexible Quote and Application Options

You can receive quotes and apply for life insurance policies online or work with an agent over the phone. This flexibility allows you to work with Mutual of Omaha in the way that's most convenient for you.

Although this flexibility is largely positive, some of Mutual of Omaha's life insurance products can only be applied for by working with an agent.

Assistance for Spanish Speakers

Mutual of Omaha offers online quotes in Spanish and access to Spanish-speaking insurance agents. The clear availability of services in Spanish makes Mutual of Omaha stand out from other insurers and a helpful choice for Spanish speakers.

Competitive Term Life Insurance

Mutual of Omaha offers competitive term life insurance policies. You can find term lengths between 10 and 30 years with benefit amounts starting at $100,000. 

You can change the term policy to a cash value plan that allows you to access some of your policy's value through loans or withdrawals. Term life insurance typically doesn't have a cash value, so the ability to convert is a nice feature.

You may be able to find a similar option through other insurers since this ability to change your policy is similar to a term conversion rider that lets you change your term policy into a permanent one.

You can get a quote online or work with an agent to learn more about Mutual of Omaha's term life options.

Range of Permanent Policies

Mutual of Omaha offers a competitive selection of permanent life insurance options for whole and universal life insurance.

You can find a guaranteed-issue whole life insurance policy that doesn't require health questions or a medical exam. This policy offers lower coverage levels, capping at $25,000.

If you want a higher amount of coverage, Mutual of Omaha's whole life insurance policy with simplified underwriting offers benefit amounts up to $40,000. This policy offers a level benefit plan option and a graded benefit option. 

The level benefit means that as soon as your policy is enforced, the death benefit is what you purchased. The graded benefit option means that the benefit amount for the first few years of the policy is lower than the amount you purchased. Most graded death benefit policies return the total premiums paid or a percentage of premiums paid (e.g. 105 percent). 

The whole life insurance policy application and issue process may take a little longer because of the simplified underwriting, but the additional coverage is worth it. 

If you're trying to insure your children, Mutual of Omaha also offers a children's whole life policy.

In addition to a number of whole life insurance policy options, Mutual of Omaha offers indexed universal and universal life insurance. These policies usually have more options for investing your policy's cash value and more variability on the growth rates than whole life insurance policies do.

Accidental Policies

In addition to life insurance, you can find accidental death insurance. These policies pay a death benefit to beneficiaries if the insured passes away in an accident as defined by the policy. Mutual of Omaha also offers family coverage though these policies.

You'll need to apply through an agent if you're interested in an accidental policy.

Employer-Sponsored Plans

Employers can also work with Mutual of Omaha to include life insurance with their employee benefits package. You can find voluntary, contributory, and non-contributory policy choices. Its voluntary policies are portable, which is advantageous for your employees because it allows them to continue coverage as they pay premiums even if they change employers.

Mutual of Omaha offers flexible options that makes it easier to find a solution that fits your business's needs.

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The Bad

  • Limited Customer Reviews
  • State Variability

Limited Customer Reviews

Mutual of Omaha doesn't have many reviews on BestCompany.com, which makes it difficult to understand the customer experience and customer satisfaction levels.

State Variability

Some of Mutual of Omaha's life insurance policy options may not be available in every state. For example, Arkansas, Montana, and North Carolina residents are not able to get the Graded Benefit Plan whole life insurance option.

If you live in one of those three states and are interested in a graded death benefit option, you may need to consider another insurer.

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The Bottom Line

While additional customer insight would be helpful, Mutual of Omaha's high financial strength ratings and selection of policies make it worth considering. Mutual of Omaha's financial strength shows the insurance carrier's financial stability, so you can be confident when purchasing insurance from the company.

Whether you need term, whole, or universal life insurance, Mutual of Omaha has competitive products. You can convert your term policy to a cash value option that allows you to access the value of your policy through loans or withdrawals.

If you're interested in a whole life insurance policy, you can choose a policy with simplified underwriting or a policy that does not require health questions or a medical exam. The company also offers indexed universal and universal life insurance.

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Star Rating

3.4

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5 Reviews

Review Breakdown

5 grade

20%

4 grade

40%

3 grade

20%

2 grade

0%

1 grade

20%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Review Source

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Erika American Fork, UT

We have worked with Mutual of Omaha for a while. They have been a good company to work with. Unfortunately when we called in with some basic questions regarding our account they weren't really able to answer them very well. Im not sure if it was just the person we talked to or if a lot of their service agents aren't very well informed.

2 years ago

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Review Source

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Cynthia Carman American Fork, UT

I have my children's life policies from Mutual of Omaha, and it being a reputable company, leaves me feeling confident that if the need arises we will be covered.

1 year ago

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Deborah A Martin Hoffman Estates, IL

After 18 yrs they never notify until there is extra money needed. Based on time frame couldn't come up with funds. Applied for new policy and was denied

4 years ago

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Ruth Anne Bright Mount Washington, KY

This company seems to be working for us. We intend to hold on to the policy from here on.

3 years ago

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Susan Pitts

It's very expensive for seniors considering the payout.

3 years ago

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