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...

Full Bio →

Written by

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.

Full Bio →

Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 15, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

The Facts of Life

  • Mutual of Omaha has lower rates than Great Western
  • Mutual of Omaha has more life insurance options than Great Western
  • Great Western and Mutual of Omaha have been rated the same by A.M. Best

Great Western and Mutual of Omaha are two of the best life insurance companies. Mutual of Omaha has lower rates, but the two companies have been rated the same by A.M. Best. Comparing Great Western vs. Mutual of Omaha will help you determine the right choice.

Before starting this Great Western vs. Mutual of Omaha comparison, enter your ZIP code to get free life insurance quotes in your area.

Great Western vs. Mutual of Omaha: What are their monthly rates?

Comparing affordable Great Western vs. Mutual of Omaha life insurance rates will help you find the most cost-effective option. The following charts show the Great Western and Mutual of Omaha monthly rates for a $10,000 whole life policy based on gender and age.

Great Western vs. Mutual of Omaha: Male Whole Life $10,000 Policy Monthly Rates by Age
AgeGreat Western Average Monthly RatesMutual of Omaha Average Monthly Rates
Age 50$58.00$29.00
Age 60$71.25$43.00
Age 70$109.58$74.00
Get Your Rates Quote Now
Compare RatesStart Now →

The following chart shows the same information for females.

Great Western vs. Mutual of Omaha: Female Whole Life $10,000 Policy Monthly Rates by Age
AgeGreat Western Average Monthly RatesMutual of Omaha Average Monthly Rates
Age 50$48.10$25.00
Age 60$61.25$33.00
Age 70$92.08$53.00
Get Your Rates Quote Now
Compare RatesStart Now →

As you can see, Mutual of Omaha rates are lower than Great Western, and female rates are lower than male rates.

Enter your ZIP code below to compare cheap life insurance rates.

 Secured with SHA-256 Encryption

Great Western vs. Mutual of Omaha: What products are available?

Comparing Great Western vs. Mutual of Omaha life insurance company policies will help you determine which company has the right coverage for you. Great Western and Mutual of Omaha offer final expense insurance, but only Mutual of Omaha offers term life options.

Great Western doesn’t offer any term life options but has two different types of whole life insurance. Both policies are for final expenses, and the right choice depends on the health history of the policyholder.

The Assurance Plus plan is the best option for those in good health. This plan provides a 25% death benefit increase as long as the policyholder answers some health questions and is willing to set aside some funds for medical expenses.

The Guaranteed Assurance plan is for those that have had a severe medical condition at some point, making them ineligible for the Assurance Plus plan. Customers applying for this plan don’t have to answer any health questions, but the lack of medical information results in higher rates.

The Assurance Plus plan has a simple underwriting process, allowing for a quick approval. The Guaranteed Assurance Plan doesn’t have an underwriting process, guaranteeing policy approval.

Both plans cover both accidental and non-accidental deaths within the first two years. The policies cover a non-accidental death for the duration of the policyholder’s life, and the death benefit is 110% if the death occurs within the first 24 months.

Great Western also offers pre-need insurance, which is for funeral and burial expenses. The death benefit is paid directly to the funeral home of your choice, allowing the policyholder to make all arrangements and payments before death.

Mutual of Omaha offers term life insurance in 10-, 15-, 20-, and 30-year terms. The minimum amount of the company’s term life options is $100,000 and is available for those between 18 and 80.

The company’s universal life insurance policies range from $100,000 to $1 million. In addition, Mutual of Omaha offers both traditional universal life and indexed universal life insurance policies. Both plans offer flexible rates, but popular stock indexes determine the indexed universal life rates.

Mutual of Omaha’s whole life policies cover final expenses. These policies are available for customers between 45 and 85 years of age and range between $2,000 and $25,000. These are guaranteed-issue policies, so no health questions or medical exams are required.

Customers interested in health insurance can add the Mutual of Omaha Medicare Supplement plan to their Medicare A and B plans. This coverage can help them make out-of-pocket Medicare payments.

While both companies offer immediate coverage options, Great Western and Mutual of Omaha customers that don’t qualify for the level benefit must complete a two-year waiting period.

Great Western vs. Mutual of Omaha: What riders are available?

Most life insurance companies allow customers the ability to add options to an existing policy. These options, known as riders, enable customers to customize their policies. These riders are available for an additional fee and will impact your Great Western or Mutual of Omaha life insurance quotes.

Optional riders offered by Great Western include:

  • Accelerated death benefit
  • Dependent child or grandchild
  • Special Bonus

Optional riders offered by Mutual of Omaha include:

  • Accidental death benefit
  • Dependent children’s coverage
  • Partial return of a premium
  • Level death benefit
  • Residential damage
  • Waiver of a premium for unemployment provision
  • Common carrier death benefit provision
  • Disability income

As you can see, Mutual of Omaha offers more riders than Great Western, allowing customers more customizability.

Great Western vs. Mutual of Omaha: What are their financial ratings?

Credit rating agencies review and rate life insurance companies based on their financial strength. These financial ratings determine the likelihood that the company will provide a payout when you file a claim. A.M. Best has completed great Western and Mutual of Omaha reviews.

Great Western and Mutual of Omaha have been rated an A by A.M. Best. This rating is considered excellent and is the second-highest rating on the agency’s scale. The rating determines that the companies should be able to provide a payout when you file a claim.

Enter your ZIP code below to compare cheap life insurance rates.

 Secured with SHA-256 Encryption

Great Western 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 on their websites. Both organizations have received complaints about Great Western and Mutual of Omaha.

At the time of this comparison, the BBB has received seven complaints about Great Western over the past three years. In addition, the company’s NAIC complaint index ratio is 0.80, indicating fewer complaints than competitors of a similar size.

The BBB has received 129 complaints about Mutual of Omaha over the past three years. According to the NAIC, the company’s complaint index ratio is 1.20, indicating more complaints than a similarly-sized company.

Before you buy Great Western or Mutual of Omaha life insurance, examine their complaints to determine their quality of service.

Great Western vs. Mutual of Omaha: What are their pros and cons?

Every life insurance company has specific pros and cons. Identifying these positives and negatives will help you determine which company is best for you.

Great Western has stable financial ratings and multiple retirement options. On the other hand, they have higher rates than Mutual of Omaha and limited life insurance options.

Mutual of Omaha has competitive rates and simplified options, meaning they don’t require a medical exam. However, the company has limited whole life policy options, and customers can’t receive quotes through the official website.

Great Western vs. Mutual of Omaha: Company Background

The Great Western Insurance Company was founded in 1983 by Lindquist Mortuaries & Cemeteries. The purpose was to provide final expense insurance to those using their funeral home. Lindquist sold the family-owned company to American Enterprise Group in 2018.

Despite the similar name, the Great Western Insurance Company has no relation to Great Western Bank.

Mutual of Omaha was founded in 1909 as the Mutual Benefit Health & Accident Association. Based in Omaha, NE, the company remains independent. In addition to life insurance, they offer long-term care insurance, Medicare products, and financial services.

Enter your ZIP code below to compare cheap life insurance rates.

 Secured with SHA-256 Encryption

Great Western vs. Mutual of Omaha: The Bottom Line

Mutual of Omaha offers lower rates and more life insurance options than Great Western. The companies have been rated the same by A.M. Best. Comparing Great Western vs. Mutual of Omaha life insurance will allow you to determine the right fit.

Now that you’ve compared Great Western vs. Mutual of Omaha, enter your ZIP code to obtain free life insurance rates in your area.