Mutual of Omaha is a Fortune 500 mutual insurance company founded in 1909 in Omaha, Nebraska. It specializes in life insurance, Medicare supplement insurance, disability income insurance, and long-term care insurance.
Mutual of Omaha Company History and Highlights
From 1909 to now, Mutual of Omaha has developed from the Mutual Benefit Health & Accident Association to one of the leading insurance agencies in the country. Mutual of Omaha strives to continually grow and innovate to help customers protect what they care about and achieve their financial goals.
Mutual of Omaha has a long-standing history of being connected to environmental conservation through its Wild Kingdom program. As a testament to its well-established mission and values, the logo was revitalized in 2020. The chosen symbol – the lion – represents the insurance company’s devotion to offering protection and strength to every customer.
Mutual of Omaha Plans and Riders
Mutual of Omaha offers three major types of life insurance with various options for additional riders.
Term Life Insurance
Mutual of Omaha offers Term Life Answers and Term Life Express. Term Life Answers is a typical term life policy that requires medical exams and a complete underwriting process. On the other hand, Term Life Express allows you to skip medical exams, and critical, chronic, and terminal illness riders are automatically included. General features of the two plans include
- Term life periods of 5, 10, 20, and 30 years
- Coverage starts at $100,000
- You must be between 18 and 80 years old to apply
- You can convert term life to permanent policies without reapplying for life insurance
Universal Life Insurance
Mutual of Omaha offers both universal life insurance and indexed universal life insurance policies. AccumUL Answers is the single Universal Life policy provided. It is a general universal life insurance policy that undergoes a whole unwriting process and requires a medical exam.
Alternatively, there are three different indexed universal plans available.
- IUL Express (No Medical Exam)
- Income Advantage
- Life Protection Advantage
Features of these plans include:
- Flexible premiums
- A cash value that can be borrowed against or withdrawn (based on the rider)
- Financial benefits such as tax-free death benefits and tax-deferred cash withdrawals
- No-lapse protection guarantee
- Death benefit protection
Whole Life Insurance
Mutual of Omaha offers a guaranteed issue whole life policy. Features of the guaranteed issue policy include:
- In general, you must be between 45 and 85 to apply
- Coverage ranges from $2,000 to $25,000
- There is a cash value that is accessible and tax-deferred
- No medical exam and no health questionnaire
- Accelerated death benefits for terminal illness, accidental death, and nursing home confinement are all available
- Graded death benefit
Life Insurance Riders
Mutual of Omaha provides various riders, depending on your policy. Some common riders include:
- Critical illness benefit
- Terminal illness benefit
- Chronic illness benefit
- Accidental death benefit rider
- Children’s rider
- Guaranteed insurability benefit rider
- Waiver of premium
- Disability income
Ratings, Reviews, and Complaints
Mutual of Omaha Life Insurance Company receives four- and five-star ratings across multiple sites, including Forbes, Investopedia, NerdWallet, and Consumer Affairs.
Additionally, its NAIC complaint index rating falls below the average at 0.65. This means Mutual of Omaha receives fewer complaints than other companies in the industry.
Third-Party Financial Strength Ratings
| Standard & Poor’s Global Ratings | A+ (Excellent) |
| Moody’s | A1 (Good) |
| AM Best | A+ (Superior) |
| Better Business Bureau | A+ (Excellent) |
Why Principled Life Trusts Mutual of Omaha
Our mission at Principled Life is to ensure you find coverage the most coverage at the best rate to ensure your peace of mind. Principled Life trusts Mutual of Omaha because the company values transparency, innovation, and a commitment to its customers. Due to its superior financial strength and excellent customer service, we are confident its life insurance plans can provide you and your family with coverage that fits your life.
