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Mutual of Omaha Life Insurance Review

Because of its excellent financial standing and more than a century of company experience, Mutual of Omaha Life Insurance is a trustworthy choice. It distinguishes out from the rest because of its relaxed approach toward high-risk candidates and adrenaline seekers. Guaranteed insurance coverage is also available. Check out our Mutual of Omaha Life Insurance Review to know what has to offer.

Mutual of Omaha life insurance rates

Mutual of Omaha Life Insurance Review - Mutual of Omaha Logo

Prices for Mutual of Omaha aren’t available to the general public, and premiums can vary substantially based on a person’s age, gender, health, and other factors.

What affects my rate with Mutual of Omaha?

People who are in good health and lead healthy lifestyles are eligible for the best rates from Mutual of Omaha. Standard plus, standard, and standard all fall into one of the four tiers of rates.

There are several methods in which underwriting takes into consideration your health and lifestyle:

  • Tobacco use. Passing a urine test is the only way to obtain the best deals.
  • Medical history in the family. Rates for those under 60 are determined by your family’s history of cancer, diabetes, and other diseases that lead to mortality.
  • The pressure in your blood vessels. Blood pressure readings of at least 130/80 are eligible for the best discounts.
  • Cholesterol. One can reach a maximum of 300 levels in high-tier rate classes
  • Hobbies and occupations. With an aviation exclusion rider, even pilots may earn top-tier rates.

How to get a quote from Mutual of Omaha life insurance

You may apply for insurance online by following these steps:

  1. Get a life insurance quote from Mutual of Omaha’s website by clicking Get a Quote.
  2. Use this form to acquire an estimate for yourself. You may also be asked a few health-related questions depending on your insurance coverage.
  3. You’ll receive an estimate in the mail. After reviewing your quotation, if you’re pleased, click Apply Now to move forward with the application process.
  4. Finally, review and sign all of your paperwork once you’ve completed filling out your personal information. If your application is accepted, the insurer will notify you by email or phone call.

What happens next?

If you’ve been approved for coverage, you may register your account online. Everything can be monitored from this location.

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

Term, entire, and universal plans are all offered by Mutual of Omaha.

  • Term Life Answers. One million dollars of coverage is provided in a basic term life insurance policy that is accessible for 10, 15, 20, and 30 years. Whole-life insurance policies can be purchased at any time prior to retirement age.
  • Term Life Express. The no-exam policy offers fast-tracked underwriting for customers who need less than $300,000 in coverage. It is possible to obtain permanent life insurance in the same way as a conventional policy.
  • Living Promise. Full life insurance from Mutual of Omaha is advertised as a burial insurance coverage. Medical exams are not necessary, and the cash value of your insurance earns a fixed rate of interest regardless of how long you hold it.
  • AccumUL Answers. Universal life insurance policies with set interest rates that develop cash value over time with at least a 2% annual guaranteed return are the most common type.
  • Life Protection Advantage. Insured coverage and cash value increase are ensured in an indexed universal life insurance policy.
  • Income Advantage. Like the previous option, index-linked cash value insurance. You’ll still get a 1% return even if the market goes against you, because of the insurance.

Does Mutual of Omaha offer burial insurance?

Yes. Those who are 45 to 85 years old or 75 years old in New York are eligible for burial insurance from Mutual of Omaha. The cost of insurance can range from $2,000 to $25,000, depending on the policy. A health questionnaire and a medical exam will not be required of you to qualify for this policy.

The policy takes effect after a two-year waiting period. If you die during the first two years of acquiring the insurance, your dependents will only get a sum equal to the premiums you’ve paid, plus 10%. After two years, your beneficiaries will be able to claim the full benefit amount.

What riders can I add to my policy?

The majority of large insurers, including Mutual of Omaha, provide consumers the ability to customize their protection by adding riders to their policies. If you’re interested in some of these:

  • Accelerated death benefits riders. Up to 80% or $1 million can be paid out early if you’ve been diagnosed with a terminal illness.
  • Rider for accidental death insurance. Bonuses will be given to those who die in accidents.
  • Riders who are under the age of 18. For those who have dependents, this option lets you extend the policy’s benefits to them, and they may then change their coverage when they turn 18.
  • Spouse rider. As you get older, you may want to consider purchasing additional coverage for your spouse.
  • It’s possible to add a dental and vision care rider to your home’s insurance policy. It is possible to obtain a short-term extension of your permanent policy’s coverage.
  • Rider waiving the right to a higher price. The monthly premium is waived if you lose your employment unexpectedly.

Mutual of Omaha life insurance reviews and complaints

The BBB has given them an A+ rating since 1940 because of its dedication to its clients. During the past three years, just 118 complaints have been lodged against the company, all of which have been resolved without any further action. Nearly 4 million policyholders are served by the firm.

Mutual of Omaha ranked fifth out of 22 insurers polled by J.D. Power in terms of customer satisfaction, with a score of 4 out of 5 circles, which is the second-highest score.

For more other options to compare, check out MassMutual Life Insurance Review.

Discover How Much YOU Can Save on Life Insurance

Our customers save as much as 35% compared to traditional life insurance offers…

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Avatar photo About the author: David Krug is the CEO/President of PolicyPeak, a modern and tech-driven life insurance company. David noticed a gap in the market for personalized policies at an affordable price. He founded PolicyPeak in 2022 with the goal of simplifying the buying process for consumers and offering policies tailored to their unique needs.