First established in 1909, Mutual of Omaha is a self-described financially strong and family-oriented organization.
This company is one of the best life insurance companies and has made a place in our list of best term life insurance companies in 2018 as well as in 10 best no exam life insurance companies. It also offers the best life insurance products for seniors.
United of Omaha life insurance review will not complete without mentioning the company's strong financial ratings. As of Friday, October 5th, 2018 Mutual of Omaha ranks A+, "superior" with A.M. Best, A1, "good" with Moody’s, and AA-, "very strong" with Standard & Poor's. They also have a Better Business Bureau accreditation of A+.
Process: Online application is easy, but phone interview is required.
Price: They are comparatively affordable than some of the largest insurers in the market. The company offers some really nice options for no exam.
Ratings: Mutual of Omaha is an A+ AM Best rated company.
In this review of Mutual of Omaha, get everything you need to know when shopping life insurance products with this company. We’ve broken down the details of all the products Mutual of Omaha life insurance company offers to help you make the best decision for your family.
The following United of Omaha and Mutual of Omaha life insurance company reviews will cover everything you need to know. But before we start, let us answer a very common question asked by many of our customers:
Yes. United of Omaha is a subsidiary company of Mutual of Omaha. It first began as United Benefit Life Insurance Company and then changed its name to United of Omaha in 1981. It now concentrates on issuing life insurance policies and annuity products.
Good if you need affordable coverage for a specific period of time, need to cover short-term financial needs like loans and debts, need additional coverage while raising a child.
Good for lifetime coverage needs, and the need for living benefits with the addition of a cash value component. Helps cover final expenses, loss of income, supplements retirement income, or can fund and estate/business continuation plan.
It is good if you have long-term life insurance needs. Most importantly if you need coverage for final expenses like funeral costs or credit card debt, or want to supplement existing coverage, then choose this option.
- Offers guaranteed fixed premiums and potential cash value growth on a tax-deferred basis. Cash value can be accessed for needs that come up while the policy is in force.
- If you buy online: Guaranteed coverage for ages 45 to 85 (NY ages 50-75), benefit amounts ranging from $2,000 to $25,000, and no medical exam or health questionnaire.
Permanent and flexible premiums and benefits. Also includes the potential to build tax-deferred cash value which you can access through loans or withdrawals. All Universal Life products include the following:
Indexed Universal Life (IUL)
Income Advantage: Indexed Universal Life
Guaranteed Universal Life
AccumUL: Universal Life
Affordable coverage to provide financial support should you die in an accident. Good for supplementing existing life insurance coverage, providing protection even if your health or occupation makes it difficult to qualify for other life insurance products, or if you want to skip the medical exam.
If you buy online: Coverage for ages 18 to 70, renewable up to age 80, with benefit amounts up to $1,000,000, with family coverage options available. Accidents covered include both work and non-work related, and pays up to $1,000,000 if death results from a boat, bus, airplane, or other fare-paid passenger accident. Up to $300,000 is paid if death results from an automobile accident on a public street or highway.
If you buy through an agent: Coverage for ages 18-70, renewable up to age 80, with benefit amounts ranging from $50,000 to $500,000. Family coverage options are available. Accidents covered include both work and non-work related, and pays double the death benefit if death results from a boat, bus, airplane, or other fare-paid passenger accident. An additional 25% of the death benefit is paid if death results from an automobile accident on a public street or highway.
|30 Year old||40 Year old||50 Year old||60 Year old|
|Male, 20 yr term, $250,000||$14.18||$20.08||$46.55||$134.05|
|Male, 20 yr term, $500,000||$21.65||$33.42||$85.49||$249.55|
|Male, 20 yr term, $1,000,000||$37.80||$59.68||$163.80||$481.42|
|Female, 20 yr term, $250,000||$12.64||$17.46||$36.05||$94.02|
|Female, 20 yr term, $500,000||$18.99||$28.61||$64.05||$169.93|
|Female, 20 yr term, $1,000,000||$31.67||$51.80||$119.18||$324.80|
We went through some of the recent reviews that customers are writing on a third party website for Mutual of Omaha life insurance. It seems that the policy cancellation is a bit difficult with United of Omaha. Also, the customer service is not as efficient as it should be. The representatives are not good at answering questions and concerns that people have. This is something that Mutual of Omaha should look into.
Other than that, Mutual of Omaha life insurance is a hundred-year-old company. It has a strong financial background and the ability to pay claims. They have also invested in education and preservation of wildlife. The company is also known to provide affordable rates than its competitors.
After reading this Mutual of Omaha life insurance company review, you must be wondering what your next step should be. United of Omaha life insurance may be a good option for many but how to be sure if it's one for you too?
Purchasing a life insurance policy is a big decision. Looking at only one company is not enough. LifeQuote recommends that you spend some time doing some online research and comparison shopping before deciding on one life insurance company.
First of all, calculate how much coverage you may need. You can use our free life insurance needs calculator to get an estimated amount. Then you can use our online life insurance quote tool to get rates from different top life insurance companies without going through a phone call.