Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Feb 22, 2021

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Company Details
Address: 3300 Mutual of Omaha Plaza
City: Omaha
State: Nebraska
ZIP Code: 68175
Phone Number: 800-775-1000
Year Founded: 1909
AM Best Rating: A+
Company Rating 0 (0 reviews)

Mutual of Omaha is a little bit different than most other insurance companies.

Since this is a mutual company, Mutual of Omaha is owned by its policyholders. This company offers a number of different services, including financial services, banking, and mutual funds.

Mutual of Omaha has a few different life insurance products that it offers to consumers. For the sake of this review, we will be focusing on Mutual of Omaha life insurance.

We will review Mutual of Omaha life insurance products, customer service reviews, and financial ratings.

Whether you are looking for term life insurance, whole life insurance, universal life insurance, or another type of life insurance policy, this Mutual of Omaha life insurance review will help you make an informed decision about your life insurance coverage.

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What life insurance products does Mutual of Omaha sell?

Mutual of Omaha sells three distinct types of life insurance policies. It offers term life insurance, whole life insurance, and universal life insurance.

Depending on your specific needs, the type of life insurance product you choose will differ, so remember to compare Mutual of Omaha life insurance quotes to guarantee you’re getting the best rates possible.

Mutual of Omaha Term Life Insurance

Mutual of Omaha offers term life insurance policies with terms of 10, 15, 20, or 30 years. Coverage is offered to people between 18-80 depending on their location, health risk, and other factors.

Mutual of Omaha term life insurance policies can be purchased with coverage of $100,000 or more depending on your income and other factors. The level of coverage you choose will impact your Mutual of Omaha life insurance rates.

Average Monthly Term Life Insurance Rates: Mutual of Omaha vs Industry Average
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Mutual of Omaha’s term life insurance is a little bit cheaper than the industry average for younger applicants. However, as your age increases, the cost of Mutual of Omaha’s term life insurance exceeds the industry average.

Mutual of Omaha gives consumers the ability to convert their term life insurance policy into a permanent life insurance plan before their term expires.

Mutual of Omaha Whole Life Insurance

Most life insurance providers sell larger whole life insurance policies than Mutual of Omaha. Whole life insurance is guaranteed to last for the duration of your life.

Mutual of Omaha only sells small whole life insurance policies to people between the ages of 45 and 85. The maximum benefits offered by Mutual of Omaha’s whole life insurance policies are between $25,000 and $40,000.

If you’re familiar with final expense life insurance, Mutual of Omaha’s whole life insurance offerings are closer to these types of life insurance policies than to other whole life insurance products offered by other companies.

What is great about Mutual of Omaha’s whole life insurance policies is you won’t have to answer any medical questions or take a medical exam. You can get this coverage quickly with little hassle.

Mutual of Omaha Universal Life Insurance

Universal life insurance is similar to whole life insurance in that it has a death benefit that lasts a lifetime. However, there is a lot more risk associated with these types of life insurance policies.

The cash value of these policies is invested in the market, or tied to a market index. This means that the potential cash growth for your life insurance policy is basically endless. However, if the market performs poorly, you could lose the value that you built up.

Mutual of Omaha guarantees that you won’t earn less than 0%. Meaning if there is a market dip, you won’t lose your money, but you might not grow your cash as quickly as you could in other accounts.

Mutual of Omaha’s universal life insurance policies are great for individuals who are looking for another way to save for retirement after maxing out their IRA or 401(k) contributions.

You will be able to borrow against the cash value of your policy to pay for unexpected bills or other expenses that come up along the way.

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Can I access my Mutual of Omaha policy online?

Yes, you can access and review your life insurance policy on the company website. All you need is your Mutual of Omaha login information. You will be able to make payments, review your history, and more through the Mutual of Omaha online portal.

Does Mutual of Omaha have good customer service?

According to J.D. Power’s independent customer satisfaction reviews, Mutual of Omaha is one of the top life insurance companies when it comes to customer satisfaction.

In the most recent data, Mutual of Omaha ranked third among all life insurance providers in the country when it came to overall customer satisfaction.

Is Mutual of Omaha financially strong?

According to the independent financial reviewer A.M. Best, Mutual of Omaha has a strong financial rating of A+.

This is the second-highest rating possible from A.M. Best. This means that Mutual of Omaha is strong financially and should be able to pay all benefits in a timely manner.

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Mutual of Omaha Life Insurance: The Bottom Line

There are a number of life insurance products for consumers to choose from. The company’s term life insurance policies are a little bit cheaper than average for younger people but more expensive than average for older people.

The company’s whole life insurance policies are pretty small and are more akin to final expense life insurance policies than the whole life insurance policies offered by other companies. Mutual of Omaha also has a robust universal life insurance product offering for consumers.

Ready to compare life insurance quotes in your area? Enter your ZIP code below to see affordable life insurance quotes from the top companies in your area.