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Mutual of Omaha Life Insurance Review

By Jim Tobin, CFP 

Company Highlights

  • A.M. Best Rating :  A+
  •  Not known for Aggressive Pricing of   Health Risks
  • Well Known and Popular Carrier

ELife Insurance Help Desk Rating

If you are thinking about applying for term life insurance from the Mutual of Omaha, you have landed in a good place. This Mutual of Omaha life insurance review will address the company's history and financial ratings, product offerings, underwriting niches, pricing, and available alternatives.  

Mutual of Omaha Life Insurance Review Of Company History 

One of the better name recognition  life insurance carriers, Mutual of Omaha has been on the scene in various incarnations since 1909

Easily recognized by it's affiliation as a sponsor of television's Wild Kingdom, Mutual of Omaha is a privately held Fortune 500 located in Omaha, Nebraska. 

Mutual of Omaha Life Insurance Review of Financial Ratings

With more than 3.5 million customers and 35 billion in assets, Mutual of Omaha is a strong performer in the life insurance market.

The Comdex score, an industry specific financial rating,  for MoO is 93.

Below is a compilation of the major rating companies. You can learn more about the financial strength of life insurance carriers here.

Mutual of Omaha Life Insurance Rating

A+   (Superior) from A.M. Best
(Very Strong) from S&P
(Very Strong) from Moody's
COMDEX score  93

Mutual of Omaha life Insurance Review of Products

Like many of the stronger life insurers, Mutual of Omaha has a broad choice of products to choose from. Among the life insurance choices are :

  • Term 
  • Universal Life
  • Whole Life

Within these categories are several iterations to serve distict market segments.

Term products available:

  • Term Life Direct - 25k-100k simplified issue (no blood or urine)
  • Term Life Answers- 100K + this traditional term product is sold in 10, 15, 20 & 30 year options.

Universal Life Insurance 

  • Guaranteed universal Life (GUL)
  • GUL Express - No blood or urine
  • IUL- Universal life insurance product that is indexed to the equities markets.
  • AccumUL-  a traditional current assumption universal life product. 

Whole Life

  • Guaranteed Issue WL- Guaranteed policy that is often used for final expense applicants who do not qualify for "day one" coverage. Therefore, the benefit is graded.
  • Whole Life Express- a simplified issue product with day one coverage.
  • Kid's WL- Offered to children up to age 17 

Other Products (Non Life Insurance)

Mutual of Omaha is a major player in the Medicare supplement market and participates in Long term Care, Disability insurance and investment products.

Mutual of Omaha Life Insurance Review of Underwriting Niches

Unlike some other carriers we have reviewed, Mutual of Omaha does not jump out at you for specific medical condition underwriting niches. 

However, because of ease of application process (and being well known), the carrier is wildly popular with seniors. Along those ame lines, Mutual of Omaha is often among the best priced of the well known carriers.

Mutual of Omaha Life Insurance Review of Pricing

Mutual of Omaha is  competitive in some cases and appears expensive in others. However, it is important to note that even in cases where they appear expensive they could be the best deal.

You may be asking: "How can the be?"

it all comes down to the underwriting class you are given. If Mutual of Omaha  is the most expensive of the major carriers at standard rates but the more competitive carriers would grade you as table 2/B or 4/D, then the "more expensive" standard rate would be the best deal. 

If you would like to see accurate rates based on underwriting class for Mutual of Omaha term life insurance, simply input your information into the quote tool and press "Display Quotes". Just bear in mind that, as I have discussed, the best rate is not always the best deal for your particular health situation.

The Verdict

​Mutual of Omaha is a solid carrier with a diverse product line up. While seldom the least expensive option, they are competitive when you take into account strong financials and occasional niche underwriting.

 Mutual of Omaha is worthy  of consideration if your particular situation works well with their product offering.  Should you have any specific questions about your situation and MoO please drop us a line. 

Alternatives to Mutual of Omaha Policies

In cases where Mutual of Omaha is not the most competitive rate (for example  marijuana users), there are over 50 carriers available at the Life Insurance Help Desk. Whether it's a condition that Mutual of Omaha underwriting chooses not to see more favorably than others  or it's a no exam term option you are looking for, the Life Insurance Help Desk will be happy to help you get the best deal possible.

Your Next Step

Thank you for choosing The Life Insurance Help Desk to research Mutual of Omaha  life insurance review. Should you have any questions please do not hesitate to call or send over an email.

Bonus: Avoiding Common Life Insurance Mistakes

James Tobin, CFP

Jim Tobin is the owner of Life Insurance Help Desk, a Fairfield County, CT. life insurance agency. You can find him on LinkedIn and Facebook. Over the past 10 years, Jim has used his CFP-financial planning designation to help individuals with their life insurance needs. In addition to working with life insurance clients, Jim teaches ESL classes in his spare time. He resides with his beautiful wife Nicole and the 3 cats that rule their lives..