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: May 19, 2021

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The Facts of Life

  • Mutual of Omaha is one of the top life insurance companies in the United States
  • Prosperity Life provides final expense life insurance for those aged 50 to 80
  • SBLI Life Insurance Company is an affiliate of Prosperity Life

When trying to learn about the best life insurance companies, you likely came across Mutual of Omaha life insurance and Prosperity Life insurance.

Mutual of Omaha vs. Prosperity Life insurance quotes vary based on age, coverage amount, health, and policy type. We have all the information you need in this Mutual of Omaha vs. Prosperity Life insurance guide.

Read on to learn more about affordable Mutual of Omaha vs. Prosperity Life insurance rates, third-party ratings, and policies.

Before jumping into this Mutual of Omaha vs. Prosperity Life life insurance review, enter your ZIP code in the free comparison tool above to see the best quotes from life insurance companies in your area.

What are the available life insurance products at Mutual of Omaha and Prosperity Life?

Before you make a choice between Mutual of Omaha vs. Prosperity Life insurance, it’s essential to know what life insurance services are available. Let’s compare Mutual of Omaha and Prosperity Life life insurance policies.

Comparing Mutual of Omaha vs. Prosperity Life Insurance Products
Mutual of Omaha Life Insurance PoliciesProsperity Life Policies
Term Lie InsuranceFinal Expense Burial Insurance
Whole Life InsuranceTerm Life Insurance
Universal Life InsuranceWhole Life Insurance
Accidental Death InsuranceUniversal Life Insurance
Final Expense Burial Insurance
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Prosperity Life has fewer types of life insurance policies, but it does offer multiple different term life policies. Mutual of Omaha simplifies its term life insurance program and allows customers to customize their life insurance plan with riders.

Some Mutual of Omaha life insurance policies have no waiting period, but some services require a two-year wait. Ask the life insurance agent more about waiting periods before you sign up for anything.

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Does Mutual of Omaha and Prosperity Life insurance have other products?

Both companies have other policies you can bundle into your life insurance policy and possibly save money.

For example, Prosperity Life and Mutual of Omaha Medicare supplement insurance provide additional coverage for Medicare recipients.

Prosperity Life and Mutual of Omaha also have annuities, long-term care insurance, disability income insurance, and critical illness insurance.

However, Prosperity Life only provides other insurance products as group policies for employers and their employees.

Mutual of Omaha’s cancer, heart attack & stroke insurance makes it a unique company. Prosperity Life doesn’t appear to have a policy specific to those conditions.

Agents and customers can also manage their Mutual of Omaha and Prosperity Life accounts online. The Prosperity Life provider portal links to SBLI.

How much are Mutual of Omaha vs. Prosperity Life insurance rates?

Insurance companies review your personal information before issuing a life insurance policy. Some of the most significant factors that determine life insurance costs are age, gender, policy type, and coverage amount.

Mutual of Omaha underwrites its policies differently than Prosperity Life. Let’s compare some term life insurance rates to see how this process works.

These rates are based on non-smokers (25-65 years old) with a 10-year term life insurance policy and a $250,000 death benefit (coverage amount).

Mutual of Omaha vs. Prosperity Life (SBLI) Insurance Rates
Policyholder's AgeMonthly Mutual of Omaha Term Life Rates (Males)Monthly Mutual of Omaha Term Life Rates (Females)Monthly SBLI Term Life Rates (Females)Monthly SBLI Term Life Rates (Males)
25$11$10$9$10
30$12$10$9$10
35$13$11$9$11
40$15$14$11$12
45$18$16$15$17
50$26$22$22$25
55$42$31$31$41
60$65$46$45$64
65$119$85$86$105
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We included SBLI term life insurance rates here because it’s an affiliate of Prosperity Life. Mutual of Omaha is more expensive by a dollar or two until a policyholder reaches 60.

How much is final expense life insurance?

Final expense life insurance (often called final expense burial insurance) is usually offered to policyholders from 50 to 80 years old.

Mutual of Omaha has burial insurance, but rates are specific to your needs. Therefore, you’ll have to get a quote using the Mutual of Omaha estimator.

However, Prosperity Life has sample burial insurance rates. Here’s an example of the average monthly costs for Prosperity Life burial insurance:

Prosperity Life Final Expense Burial Insurance Rates
Policyholder AgesMonthly Burial Insurance Rates w/ $5,000 LimitMonthly Burial Insurance Rates w/ $10,000 LimitMonthly Burial Insurance Rates w/ $15,000 LimitMonthly Burial Insurance Rates w/ $20,000 Limit
50-Year-Old$18$32$46$60
60-Year-Old$22$43$59$78
70-Year-Old$36$69$102$135
80-Year-Old$63$123$183$243
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It’s difficult to compare these with Mutual of Omaha burial insurance quotes since these are private. Try out the Mutual of Omaha calculator on the website to get a clear answer on which company is cheaper.

Mutual of Omaha vs. Prosperity Life: Financial Strength and Customer Review Ratings

Before you go through all the underwriting qualifications at Mutual of Omaha or Prosperity Life, take a few moments to review their financial strength and customer ratings.

These ratings can give you a better idea of how an insurance company manages money and how well they take care of customers.

Mutual of Omaha is one of the best life insurance providers in the United States. A.M. Best gave Mutual of Omaha an “A+” rating in the past year. Prosperity Life (SBLI, S.USA) has an “A-” rating.

Also, Mutual of Omaha ranked fifth out of 23 companies in J.D. Power‘s life insurance customer satisfaction study in 2020.

While some reviews list Sentinel Security, Royal Neighbors of America, and Liberty Bankers as the best telesales insurance companies, they don’t make the top 10 list in the life insurance industry.

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Mutual of Omaha vs. Prosperity Life Insurance: What’s the bottom line?

So should you buy Mutual of Omaha vs. Prosperity Life insurance? Mutual of Omaha reviews show stronger ratings overall, and it’s ranked as one of the best companies across the United States.

Prosperity Life has excellent burial insurance options for middle-aged and senior customers.

Both companies provide a variety of insurance options. Prosperity Life has cheaper term life rates, but it’s not clear how much whole life insurance costs.

For that, you will need to get a quote, either on the company’s website or through an agent.

Now that you’ve reviewed Mutual of Omaha vs. Prosperity Life insurance, use our free online quote tool to compare multiple companies in your area.