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: Apr 16, 2021

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The Facts of Life

  • Mutual of Omaha is rated better than Gerber Life by A.M. Best
  • Mutual of Omaha offers more life insurance options than Gerber Life
  • Both companies offer final expense insurance options

Gerber Life and Mutual of Omaha offer various options in whole and term life insurance. The two companies also offer final expense insurance, helping to pay funeral and burial costs. Comparing Gerber Life vs. Mutual of Omaha will allow you to discover the difference in their policies, ratings, and complaints.

Before you begin this Gerber Life vs. Mutual of Omaha review, enter your ZIP code to find the best life insurance quotes in your area.

Gerber Life vs. Mutual of Omaha: What policies are offered?

Gerber Life and Mutual of Omaha offer term life and whole life insurance options. The primary difference between the two providers is that Mutual of Omaha also offers universal life insurance. Examining the details of the policies offered will help you determine the right fit for your needs.

Gerber Life offers term life insurance in 10-, 20-, and 30-year terms. Coverage for this type of insurance is available between $100,000 and $300,000. Customers under 51 years of age don’t require a medical exam for approval so most policyholders won’t have to fulfill this requirement.

The provider also offers four different types of whole life insurance. These policies are separated by age, offering whole life coverage for children, teenagers, adults, and seniors.

The child-based whole life plan is called the Gerber Life Grow-Up Plan. Available for those between the ages of 14 days and 14 years, coverage ranges from $5,000 to $50,000. The plan can be purchased by a parent, grandparent, or legal guardian and the child can become the policyholder at 21 years of age.

The teenage plan is similar to the child plan but is only available for those between the ages of 15 and 17 years of age. The policies double in value when the insured person turns 18 years of age.

Gerber Life insurance for adults is available for those 18 years and older. Coverage for these policies range from $50,000 to $300,000. A policyholder with the child or teenage plan can convert it into the adult plan if they wish to increase their coverage. Similar to the term life policies, only those 51 years and older require a medical exam.

The senior policy provided by Gerber Life is used as final expense insurance. Available for those between 50 and 80 years of age, the value of the policy ranges between $5,000 and $25,000. A medical exam is not required and acceptance is guaranteed. This type of policy helps a policyholder pay for final expenses before their death.

Mutual of Omaha offers term life insurance in 10, 15, 20, and 30-year terms. The minimum value of the policy is $100,000 and is available for those between 18 and 80 years of age.

The company offers universal life insurance that ranges from $100,000 to $1 million in coverage. Traditional universal life and indexed universal life coverage are available. While both policies offer flexible premiums, indexed universal life premiums are based on popular stock indexes.

Mutual of Omaha’s whole life policies are used as final expense insurance. Available for those between 45 and 85 years of age, coverage ranges from $2,000 to $25,000. This type of insurance is a guaranteed-issue policy so no health questions or medical exams are required.

Those looking for health insurance can add the Mutual of Omaha Medicare Supplement plan to their Medicare Plan A and B plans. This type of insurance can help cover some out-of-pocket payments that may be required when using Medicare.

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Gerber Life vs. Mutual of Omaha: What riders are available?

Most life insurance providers offer options that can be added to a policy. This allows the policyholder to customize a policy to fit their needs. Known as riders, some are automatically included with a policy but most are optional riders, available for an additional premium. Gerber Life and Mutual of Omaha offer optional riders.

The only rider offered by Gerber Life is the guaranteed purchase option. Only available for Gerber Life Grow-Up Plans, this rider allows a child to buy additional coverage when they turn 21 and become the policyholder.

Mutual of Omaha offers several optional riders that can be added for an additional premium. Optional riders offered by Mutual of Omaha include:

  • Accidental death benefit
  • Partial return of a premium
  • Residential damage
  • Waiver of a premium for unemployment provision
  • Common carrier death benefit provision
  • Disability income

As you can see, Mutual of Omaha allows customers a much greater ability to customize their policies than Gerber Life.

Gerber Life vs. Mutual of Omaha: What are their financial ratings?

Credit rating agencies provide financial ratings to various life insurance providers. These ratings determine the likelihood that the company will be able to provide a payout when a claim is filed. Gerber Life insurance reviews and Mutual of Omaha reviews have been made by trusted credit rating agencies.

Gerber Life has received an “A” by A.M. Best. This is considered excellent by the agency and is the second-highest rating on the agency’s scale. It says that the company should be able to provide a payout, even during difficult economic times.

Mutual of Omaha has received an “A+” by A.M. Best, an “A+” by S&P, and an “A1” by Moody’s. The A.M. Best rating is listed as “superior,” while the S&P rating is described as “strong” and the Moody’s rating is described as “good.” All of these ratings determine that the company should be able to meet its financial obligations.

Gerber Life vs. Mutual of Omaha: Do they have any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) allow customers to list complaints about life insurance providers. Examining these complaints helps potential customers determine the quality of service they’ll receive. Complaints have been received about Gerber Life and Mutual of Omaha.

At the time of this comparison, the Better Business Bureau has received 96 complaints about Gerber Life over the past three years. The company has a complaint index of 0.44 according to the NAIC, determining that it has fewer than the average number of complaints about a company of its size.

The Better Business Bureau has received 121 complaints about Mutual of Omaha over the past three years. The provider has a 1.22 complaint index by the NAIC, showing that the provider has received more complaints than the average company of its size.

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Gerber Life vs. Mutual of Omaha: Company Background

Gerber began offering life insurance in 1967 under the name Gerber Life with a focus on young families. Headquartered in Fremont, MI, the company continues to provide life insurance options to customers in the United States, Canada, and Puerto Rico.

Mutual of Omaha was founded in 1909 as the Mutual Benefit Health & Accident Association. Based in Omaha, NE, the company has remained independent and offers life insurance, long-term care insurance, Medicare products, and financial services.

Gerber Life vs. Mutual of Omaha: The Bottom Line

The decision between Gerber Life and Mutual of Omaha will likely come down to the type of policy you desire. While they have similar term life policies, they differ in whole life options and Mutual of Omaha also offers universal life insurance. Comparing Gerber Life vs. Mutual of Omaha will help you find the best option for your needs.

Affordable Gerber Life insurance quotes and affordable Mutual of Omaha life insurance quotes are possible.

Now that you’ve compared Gerber Life vs. Mutual of Omaha, enter your ZIP code to discover the best life insurance rates in your area.

Gerber Life vs. Mutual of Omaha: Frequently Asked Questions

Here are some frequently asked questions about Gerber Life and Mutual of Omaha.

#1 – How can I buy Gerber Life insurance or buy Mutual of Omaha life insurance?

Gerber Life allows customers to purchase life insurance online or by phone. Mutual of Omaha customers can contact a representative to purchase a policy.

#2 – Can I borrow from a Gerber Life or Mutual of Omaha life insurance policy?

Gerber Life and Mutual of Omaha allow customers to borrow from life insurance policies. Borrowing from the cash value can be done as long as the premiums are paid.

#3 – Do Gerber Life and Mutual of Omaha life insurance policies pay dividends?

Gerber Life’s whole life policies pay dividends but Mutual of Omaha doesn’t offer any policies that pay dividends.